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40th GST Council Meeting highlights

Posted by estartup on June 15th, 2020

The 40th GST council meeting was hung on Friday under the authority of FM Nirmala Sitharaman. Here are key 40th GST Council Meeting highlights. 

The gathering was led by means of video conferencing 

Significant 40th GST Council Meeting Updates 

The GST Council has given a few suggestions on GST Law and Procedures changes. Here are the key 40th GST Council Meeting Updates: 

1. The decrease in Late Fee for past Returns 

The late charge for non-filing GSTR-3B return for the period from July 2017 to January 2020 has been presently postponed off as beneath: – 

  • No late charge if there should arise an occurrence of NIL GST return. Other than- 

  • The most extreme late expense will be ₹500/ - every day per return if there should arise an occurrence of GST risk. 

  • This pace of the late charge would apply for all the GSTR-3B returns recorded between first July 2020 to 30th September 2020. 

2. Unwinding in GST return filing 

The GST office has offered help to the little citizens having GST registration whose total turnover is up to ₹5 crores.

Know in detail:- All main GST Council Meeting highlights

Also See: Gst Council, Council Meeting, 40th Gst, Meeting Highlights, Gst, Council, Meeting

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