GST- Relief measures in the wake of COVID 19 outbreak – Notifications Issued
by ReinHeads Team | Apr 10, 2020
| GST – Relief measures in the wake of COVID 19 outbreak – Notifications Issued |
Dear All,
The Central Board of Indirect Taxes and Customs (‘the CBIC’) has issued various notifications for implementation of various relief measures taken by the Government in the wake of COVID 19 outbreak. We have hereinbelow summarized the key reliefs implemented by the CBIC for your reference:
- The CBIC has reduced the rate of interest payable on outstanding GST subject to taxpayer filing its return within the extended time period. Further, in case the returns are not filed within the extended time period, the taxpayer is required to pay interest as per the normal provision of GST law (Notification No. 31/2020–Central Tax dated 03 April 2020):
|
S. No. (1)
|
Class of registered persons
(2) |
Rate of interest
(3) |
Tax period
(4) |
Condition
(5)
|
| 1. |
Taxpayers having an aggregate turnover of more than INR 5 crores in the preceding financial year (FY) |
Nil for first 15 days from the due date and 9% thereafter |
February, 2020, March 2020 and April, 2020 |
If return in FORM GSTR-3B is furnished on or before 24th June 2020 |
| 2. |
Taxpayers having an aggregate turnover of more than INR 1.5 crores and up to INR 5 crores in the preceding FY |
Nil |
February, 2020 and March, 2020 |
If return in FORM GSTR-3B is furnished on or before 29th June 2020 |
| April, 2020 |
If return in FORM GSTR-3B is furnished on or before 30th June 2020 |
| 3. |
Taxpayers having an aggregate turnover of up to INR 1.5 crores in the preceding FY |
Nil |
February, 2020 |
If return in FORM GSTR-3B is furnished on or before 30th June 2020 |
| March, 2020 |
If return in FORM GSTR-3B is furnished on or before 03rd July 2020 |
| April, 2020 |
If return in FORM GSTR-3B is furnished on or before 06th July 2020 |
2. The CBIC has waived the late fee for delayed filing of FORM GSTR-3B returns subject to the said returns are filed under the extended time period (Notification No. 32/2020–Central Tax dated 03 April 2020 and Notification No. 36/2020–Central Tax dated 03 April 2020)
|
GSTR 3B
|
Filing date for following taxpayers
|
| For Month |
Taxpayers having an aggregate turnover of more than INR 5 crores in the preceding FY |
Taxpayers having an aggregate turnover of more than INR 1.5 crores and up to INR 5 crores in the preceding FY |
Taxpayers having an aggregate turnover of up to INR 1.5 crores in the preceding FY |
| February, 2020 |
24 June 2020 |
29 June 2020 |
30 June 2020 |
| March, 2020 |
24 June 2020 |
29 June 2020 |
03 July 2020 |
| April, 2020 |
24 June 2020 |
30 June 2020 |
06 July 2020 |
| May, 2020 (due dates refer NN 29/2020 – CT) |
27 June 2020 |
12/14 July 2020 |
12/14 July 2020 |
| June, 2020 (original due dates) |
20/22/24 July 2020 |
20/22/24 July 2020 |
20/22/24 July 2020 |
3. The CBIC has waived late fee for delayed filing of FORM GSTR-1 return (for the month March 2020, April 2020 and May 2020) by the due date subject to the taxpayers filed the said details in FORM GSTR-1 return by 30 June 2020 (Notification No. 33/2020–Central Tax dated 03 April 2020)
4. Other extended filing dates (Notification No. 35/2020–Central Tax dated 03 April 2020):
- Filing dates for GST compliances for the period starting 20 March 2020 to 29 June 2020 by filing details in Form GSTR-5, GSTR-6, GSTR-7, GSTR-8 has been extended to 30 June 2020
- All other compliances viz. Appeal, Refund, statement, etc. under the provisions of the CGST Act which is falling during the period from 20 March 2020 to 29 June 2020 is also been extended to 20 June 2020
- Where an e-way bill has been generated and its period of validity expires during the period 20 March 2020 to 15 April 2020, then the validity period of such e-way bill shall be deemed to have been extended till the 30 April 2020
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