GSTN’s GST Updates on Twitter dt. 21 Nov 2017 relating to GSTR-3B Late Fee, etc.

GSTN’s GST Updates on Twitter dt. 21 Nov 2017 relating to GSTR-3B Late Fee, etc.

GSTN has tweeted on 21 Nov. 2017 that Functionality for ITC Refund of services used for export of Goods & Services is now available on the GST Portal. Also, Taxpayers can now file Form GSTR-1 for July 2017. Besides, manner in which GSTR-3B late Fee (CGST + SGST) payable by taxpayers will be calculated on GST Portal has been explained, as under:

i) Functionality for refund of Input Tax Credit of inputs/ input services attributed to export of Goods Services has been made available to taxpayers on the GST Portal. This refund application can be filed only once for a tax period and only if Form GSTR 3B has been filed by the taxpayer for that particular tax period.

ii) GST Portal will now be calculating Late Fee (CGST + SGST) payable as below:

a) Rs 50 per day for filing of FORM GSTR-3B Return after the due date for the month of October, 2017 onwards

b) Rs 20 per day for filing of Nil Form GSTR-3B Return after the due date.

iii) Those taxpayers who have not filed Form GSTR 1 for July 2017, can now file it on the GST Portal.

Related Posts:

Latest GST Updates/ FAQs on Twitter (Tweets by CBEC/ GSTN/ GoI)

Leave a Reply

FREE NEWSLETTER

Please Signup for 

CA Club's Daily Updates via Email

(After submitting your email below, please check your inbox. Open the email from Feedburner and click on the confirmation link... That's All)