GST compliance relaxations, late fee rationalisation to help small taxpayers

For monthly and quarterly returns to be filed in the future, the late fee has been capped at Rs 500 for returns with no tax liability. In case of turnover above Rs 1.5 crore, late fee has been capped at Rs 2,000 and from Rs 1.5 crore to Rs 5 crore turnover, the late fee has been capped at Rs 5,000.

from Economy-News-Economic Times https://ift.tt/3uypoiO