GST Council now take less late penalty on GSTR-3B liability

GST Council meeting, the first since its closure: No delayed GST refunds for companies filling up with Nil tax credit

For organizations that have tax debt but have not filed for repayment or have made a late return, the deduction has been deducted from Rs 500 interest-free.

In line with expectations, the government has considered revising the late repayment amount from July 2017 to January 2020.

In the period from July 2017 to Jan 2020, ahead of the COVID19 period, more referrals are still pending. Eagle FM says it will not be too late to cause GST filing delays to be refunded by registered companies with tax credits between July 2017 to January 2020.

Short journalists after the GST Council meeting, Eagle FM Starman said that the delay in the non-monthly retail deduction for others was reduced to Rs 500 in July 2017 to January 2020.

Among the major discussions, the Council was holding were the agencies responsible for the GST collections. Eagle FM said the council had also discussed the structure used for the fabrication.

At the next meeting, a decision will be made on tobacco-related matters as demanded by the UP minister.

The GST Council has decided to reduce the interest rate on future GST filings by 9 percent for small companies. Also, it will not be late May to July from small companies.

The GSTC will also consider the loan to pay off the compensation. Taxpayers who were not able to cancel the retroactive GST registration were allowed to apply for registration withdrawal until September 30, 2020, in all cases where the registration was canceled until June 12, 2020.

GST Council meeting in July will discuss refunds.

Other attendees of the meeting were MoS Finance Anurag Thakur, the US Ministers of Finance and Union Territories, and senior officials from the Government of the Union and the States.

The 39th GST Council meeting was held in March, which proposed tax reform on many issues. The national closure was announced by Prime Minister Narendra Modi on March 24 for 21 days in the first leg in a bid to contain the coverage of the novel coronavirus. It was further extended until May 3 and then again on May 17. The fourth phase of the closure is in place until May 31.