Waive off all late fee on GST filings till March 2018
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The GST law has been implemented and the citizens of the country are now slowly adapting themselves to the new laws and its intricacies. In the wake of this new law, it is the responsibility of the Government to educate its citizens and make sure the software is user friendly for the monthly compliance. The measures adopted by the Government in postponing the applicability of the Reverse Charge Mechanism are most welcome. Similarly, the elimination of compulsory registration for inter-state supply of services less than Rs. 20 lakh and the reduction of monthly filings for businesses having a turnover of less than Rs. 1 crore are well thought out decisions.
But one main problem which has been causing a lot of dent in the working capital of the businesses is the levy of late fee on the filing of returns. The late fee of Rs. 200 per day is very much on the exorbitant side and the levy of late fee even on persons filing NIL returns is atrocious, to say the least. Kindly waive off the late fee or at least reduce the quantum of late fee and keep it in lines with the late fee contemplated under the Income Tax Act. 1961 to ensure uniformity. The late fee should be decided on the quantum of GST paid and should not be a blanket rate which is applicable to all and sundry.
In view of the above, it is a sincere request from the professional CA community and all the citizens of the country to eliminate/reduce this late fee with immediate effect so that the citizens are given time to adapt to the new law and rules. This will go a long way in easy implementation of the law without any hurdles. The common man should not be troubled but aided in such times of change.
Hoping this change will be effected soon.
Thanks and Regards
CA S. Vignesh
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