CBIC prescribes upper limit of penalty on furnishing GSTR- 3B till Sept 30

CBIC issues notification to prescribe maximum amount of penalty if GSTR-3B is filed upto September 30.2020; Clarifies that the maximum amount of penalty has been restricted to Rs. 500 in case of other than ‘NIL’ returns and zero in case of ‘NIL’ returns for the tax periods from Feb 2020 to July 2020; The said relief is for both class of taxpayers i.e. taxpayers having turnover upto Rs. 5 crores or more than 5 crores: CBIC Notification...