The following are the Recommendation of GST Council in 40th meeting regarding Law & Procedures changes:
1.‘NIL’ late fee for filing GSTR-3B for the period July 2017 to January 2020, if there is no tax liability.
2.Maximum late fee of Rs. 500/- per return for filing GSTR-3B for the period July 2017 to January 2020, if there is any tax liability.
3. The reduced rate of Late fee would apply for all the GSTR-3B returns furnished between 01.07.2020 to 30.09.2020.
4. No interest payment shall be required for small taxpayers (turnover upto Rs. 5 Crore) for their supplies during February, March and April 2020, if the return is filed till 06.07.2020. Further, the Rate of interest has been reduced from 18% to 9%, for filing return beyond 06.07.2020 but till 30.09.2020.
5.  The interest relief for late payment of tax for the month  May to July 2020 for supplies by small taxpayers (turnover upto Rs. 5 Crore) shall be notified, very soon.
6.The cancelled registration shall be restored on filing of application for revocation of cancelled registration by 30.09.2020, if registration have been cancelled till 12.06.2020.
Also find attached the press release issued by the ministry of finance.”