No fee for late filing of GST nil Returns

Finance Minister Nirmala Sitharaman on Friday said no late fee will be levied for delayed filing of GST returns by registered entities with nil liability between July 2017 to January 2020.

Briefing reporters after GST Council meeting, she said late fee for non-filing of monthly sales return for others has been reduced to a maximum of Rs 500 for July 2017 to January 2020 period.

GST Council – the apex decision making body of the indirect tax regime – discussed impact of COVID-19, she said.

Inverted duty structure hitting GST collections was discussed, she said, adding the council also discussed inverted duty structure in textile.