Finance minister Arun Jaitley had disclosed that in July, Rs92,283 crore had been received as GST receipts from 3.9 million taxpayers. Photo: PTINew Delhi: The goods and service tax (GST) council on Friday exempted taxpayers from paying the late fee for missing the deadline for filing tax returns for July , the first month of implementation for the new tax regime. The late fee waiver is in line with the council’s decision to focus on hand-holding businesses during the transition period rather than enforcing penal provisions for minor offences. The late fee payable was Rs100 for every day from the deadline till the return is filed. Finance minister Arun Jaitley had disclosed on Tuesday that in July, Rs92,283 crore had been received as GST receipts from 3.9 million taxpayers, compared with the target of Rs91,000 crore.

Source: Mint September 01, 2017 16:52 UTC