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    GST Council meet key takeaways: Late fee reduced on GSTR-3B filings; relief for small taxpayers

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    The GST Council on Friday decided to reduce the late fee on the filing of GSTR-3B returns for the period between July 2017 and January 2020. The late fee has been capped at Rs 500, but interest will be charged at the existing rate on the due tax liability. Speaking to the media here after a GST Council meet through videoconference, Union Finance Minister Nirmala Sitharaman said that those entities with no tax liability will not have to submit the late fee for the period.

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    The Economic Times