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February 24, Saturday 2018 3:17 PM       

       HEADLINES: Two including army man dies as tipper rams on to two bikes                                              There’s no discrepancy in postponing Madhu’s post-mortem: K K Shylaja                                              Forest officials helped in lynching Madhu: Madhu’s family                                              Madhu’s post-mortem begins under heavy protection                                              Govt fails, violence against minorities increased: National Commission for Minorities                                              PNB fraud: Govt moves NCLT to attach properties of Nirav Modi, Choksi                                              Modi to launch Amma Two-wheeler Scheme in Chennai                                              PNB fraud case: ‘Very tough to clear dues or pay salaries’, Choksi writes to employees                                              Burqa-clad women playing board game at Mecca's mosque spark controversy                                              Canada flew celebrity chef to India at taxpayer expense for Trudeau                                              Indian women eye a rare double series win against SA                                              ISL: Chennaiyin to take on resurgent Blasters in crucial tie                                              Strandja Boxing Tournament: Mary Kom advances to semis                                              Kaumudi Facebook
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       Finance Ministry dismisses penalty levied for late filing of GSTR 3B for July
 
         Posted on :23:13:09 Sep 2, 2017
   
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       Last edited on:23:13:09 Sep 2, 2017
         Tags: Finance Ministry dismisses penalty levied for
 
New Delhi: The Ministry of Finance on Saturday notified that penalties chargeable on delays in filing the GSTR 3B for the month of July will be waived off. However, the interest applicable on late payment of the tax liability will be charged, the Ministry said.
 
The Goods and Services Tax (GST) tax was introduced at the stroke of midnight of June 30. While the last date for payment of the GST for the month of July was August 25, taxpayers who were not able to meet the deadline will not be under the burden of paying a penalty.
 
GSTR 1 is to be filed by all taxpayers by September 5, while GSTR 2 and GSTR 3 are to be filed by all taxpayers by September 10 and 15, respectively.
 
Taxpayers who have committed errors in GSTR 3B will be able to amend their details in GSTR 1-2-3. However, interest will be levied on all taxpayers who have not discharged their complete tax liability for July by August 25.
 
For the unversed, payment of the GST is complete only when the amount of tax payable is debited from electronic cash /credit ledger. 
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       BUSINESS
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