Waiver of Late Fee for Delayed GST Returns

Government amends GST notification to waive late fees for delayed returns.

Late fee under section 47 waived for specified tax periods.

Taxpayers with different turnover brackets granted extensions based on filing dates.

For taxpayers with turnover above Rs. 5 crores, waivers apply for February to April 2020 returns.

Waivers for taxpayers with turnover between Rs. 1.5 crores to Rs. 5 crores extend to April 2020.

Those with turnover up to Rs. 1.5 crores get waivers for February to April 2020 returns.

The amendment aims to provide relief amidst COVID-19 disruptions.