CUTTACK: The State Government has waived late fee for delay in filing tax returns and allowed late payment without interest for tax payers having a turnover up to `5 crore till June 2020. The measure was taken up as taxpayers and tax professionals faced difficulties in filing returns for February, March and April 2020 due to the nationwide lockdown. However, for taxpayers having turnover above `5 crore the interest on account of delayed filing has been waived for the first 15 days and thereafter interest will at reduced rate of 9 per cent will be applicable for the subsequent period of delay, stated a press release issued by Odisha State Commercial Tax & GST Commissionerate on Tuesday.
Tax payers having turnover above `5 crore can file their returns for February, March and April by June 24; those having turnover above `1.5 crore but up to `5 crore have been asked to file their returns for February and March by June 29 and for April by June 30. Similarly, tax payers having turnover up to `1.5 crore are advised to file their tax return for February by June 30, for March by July 3 and April by July 6. Returns for the month of May have to be filed as per due date, stated the advisory. Tax payers failing to file their pending returns as per the datelines indicted will not get the benefit of waiver of late fee and waiver or concession of interest rate, stated the release.