AMN / NEW DELHI
The government has waived late payment fees for delayed filing of Goods and Services Tax returns and allowed businesses to correct errors in the initial form while submitting final returns by 5th September. In a circular, the finance ministry said late fee for all taxpayers who could not file GSTR 3B for July has been waived, but not the interest on late payment of dues.
Businesses were required to file the maiden GST returns for July and pay taxes by 25th August by filing GSTR 3B. The final returns for sales for July are to be filed by September 5 and returns for purchases by 10th September. As per the CGST and SGST Acts, an interest at the rate of 18 per cent will be levied for delayed payment of tax. Taxes worth Rs 92,283 crore were collected in July from just 64.42 per cent of the total taxpayer base.