The Consortium of Indian Associations (CIA), a group of over 30 trade bodies and regional small and medium scale industry associations expressed disappointment over RBI s decision to not waive off or reduce the interest component of loans
Govt relaxes timelines for GST compliance, reduces late fee for COVID-19 hit businesses
The finance ministry s notifications include extension of the deadline for filing GST returns, reduced quantum of late fee, and even late fee waiver in some cases for the months of March and April 2021
Joe C Mathew | May 2, 2021 | Updated 12:53 IST
The notifications have been issued on the basis of recommendations from the GST Council
In a bid to provide relief to COVID-19 hit businesses, the finance ministry had on May 1 notified nine changes in the compliance requirements under the Goods and Services Tax (GST) regime. This includes extension of the deadline for filing GST returns, reduced quantum of late fee, and even late fee waiver in some cases for the months of March and April 2021.