Notifications Issued on 03-04-2020.
(1) Proviso inserted under rule 3(3) of CGST rules: “Any registered person who opts to pay tax under section 10 for the financial year 2020-21 shall electronically file an intimation in FORM GST CMP-02, duly signed or verified through electronic verification code, on the common portal, either directly or through a Facilitation Centre notified by the Commissioner, on or before 30th day of June, 2020 and shall furnish the statement in FORM GST ITC-03 in accordance with the provisions of sub-rule (4) of rule 44 upto the 31st day of July, 2020.”
This means any regular taxpayer who wants to opt for composition scheme for FY 2020-2021, the intimation in FORM GST CMP-02 can be filed on or before 30-06-2020 and Form GST ITC-03 for ITC reversal should be furnished by 31-07-2020.
(2) Proviso inserted under rule 36(4) of CGST rules: “Provided that the said condition shall apply cumulatively for the period February, March, April, May, June, July and August, 2020 and the return in FORM GSTR-3B for the tax period September, 2020 shall be furnished with the cumulative adjustment of input tax credit for the said months in accordance with the condition above.”
This implies that the condition of 10 % provisional ITC rule will apply cumulatively for Feb to Aug 2020. And any cumulative adjustment for input tax credit for these months can be reported in 3B of Sept 2020.
Notification No 31 to 36:
| Return Type(A) | Class of registered Person(B) | Return Periods(C) | Return to be furnished on or before/Extended Dates(D) | Notification No and Remarks(E) |
|
GSTR 3B
|
Taxpayers having an aggregate turnover of more than rupees 5 crores in the preceding financial year | Feb 2020 | 24-06-2020 |
Notification No. 31 – Rate of interest Nil for first 15 days from the original due date, and 9 percent thereafter. * Notification No. 32 – Late Fee waived*
|
| Mar 2020 | ||||
| Apr 2020 | ||||
| Taxpayers having an aggregate turnover of more than rupees 1.5 crores and up to rupees five crores in the preceding financial year | Feb 2020 | 29-06-2020 |
Notification No. 31 – No interest* Notification No. 32 – Late Fee waived* |
|
| Mar 2020 | ||||
| Apr 2020 | 30-06-2020 | |||
| Taxpayers having an aggregate turnover of up to rupees 1.5 crores in the preceding financial year | Feb 2020 | 30-06-2020 |
Notification No. 31 – No interest* Notification No. 32 – Late Fee waived* |
|
| Mar 2020 | 03-07-2020 | |||
| Apr 2020 | 06-07-2020 | |||
| Taxpayers having an aggregate turnover of more than rupees 5 crores in the preceding financial year | May 2020 | 27-06-2020 | Notification No.36 – Due date extended to 27-06-2020 | |
| Taxpayers having an aggregate turnover of up to rupees 5 crores in the preceding financial year and whose principal place of business is in the States of Chhattisgarh, Madhya Pradesh, Gujarat, Maharashtra, Karnataka, Goa, Kerala, Tamil Nadu, Telangana, Andhra Pradesh, the Union territories of Daman and Diu and Dadra and Nagar Haveli, Puducherry, Andaman and Nicobar Islands or Lakshadweep | May 2020 | 12-07-2020 | Notification No.36 – Due date extended to 12-07-2020 | |
|
Taxpayers having an aggregate turnover of up to rupees 5 crores in the preceding financial year and whose principal place of business is in the States of Himachal Pradesh, Punjab, Uttarakhand, Haryana, Rajasthan, Uttar Pradesh, Bihar, Sikkim, Arunachal Pradesh, Nagaland, Manipur, Mizoram, Tripura, Meghalaya, Assam, West Bengal, Jharkhand or Odisha, the Union territories of Jammu and Kashmir, Ladakh, Chandigarh or Delhi |
May 2020 | 14-07-2020 | Notification No.36 – Due date extended to 14-07-2020 | |
| GSTR1 | Taxpayers having an aggregate turnover of more than rupees 1.5 crores in the preceding financial year | Mar 2020, Apr 2020 and May 2020 | 30-06-2020 | Notification No. 33 – Late Fee waived* |
| Taxpayers having an aggregate turnover of up to rupees 1.5 crores in the preceding financial year | Jan 2020 to Mar 2020 Quarter | 30-06-2020 | Notification No. 33 – Late Fee waived* | |
| CMP-08 | Composition Taxpayers | Jan 2020 to Mar 2020 Quarter | 07-07-2020 | Notification No.34 – Due date extended to 07-07-2020 |
| GSTR-4 | Fin Year 2019-2020 | 15-07-2020 | Notification No.34 – Due date extended to 07-07-2020 | |
| Completion or compliance of any action, by any authority or by any person, has been specified in, or prescribed or notified under the said Act** | All Taxpayer | Any time limit which falls during the period from the 20th day of March, 2020 to the 29th day of June, 2020 | 30-06-2020 |
Notification No.35 – Due date extended to 30-06-2020- Exceptions- (a) Chapter IV; (b) sub-section (3) of section 10, sections 25, 27, 31, 37, 47, 50, 69, 90, 122, 129; (c) section 39, except sub-section (3), (4) and (5); (d) section 68, in so far as e-way bill is concerned; and (e) rules made under the provisions specified at clause (a) to (d) above; |
| GSTR-5 | Non-Resident Indians (NRIs) |
Mar 2020, Apr 2020 and May 2020
|
30-06-2020
|
Notification No.35 – Due date extended to 30-06-2020 – Applicable for Section 39(5) |
| GSTR-6 | Input Service Distributor (ISD) | Notification No.35 – Due date extended to 30-06-2020 – Applicable for Section 39(4) | ||
| GSTR-7 | TDS Deductor (u/s 51) | Notification No.35 – Due date extended to 30-06-2020 – Applicable for Section 39(3) | ||
| GSTR-8 | TCS Collectors [E-commerce Operators] (u/s 52) | Notification No.35 – Due date extended to 30-06-2020 – Applicable for Section 52 | ||
| EWAY Bill | All Taxpayer for whom E-way bill is applicable | Validity expires from 20-03-2020 to 15-04-2020 | NA | Notification No.35 – Validity period of such e-way bill shall be deemed to have been extended till the 30th day of April, 2020. |
Important Notes :
*As per Notification 31 and 32, if returns not furnished before the dates mentioned in notification (Column D), then the late fee and interest will be applicable as per old rates.
** Inclusions : (a) completion of any proceeding or passing of any order or issuance of any notice, intimation, notification, sanction or approval or such other action, by whatever name called, by any authority, commission or tribunal, by whatever name called, under the provisions of the Acts stated above; or (b) filing of any appeal, reply or application or furnishing of any report, document, return, statement or such other record, by whatever name called, under the provisions of the Acts stated above
_______________________________________________________
As on 25th March 2020
The Union Finance & Corporate Affairs Minister Smt. Nirmala Sitharaman announced a few important changes which serve as relief measures. The Government of India has taken these measures and has implemented these changes in the view of the COVID-19 outbreak. Smt. Sitharaman made these announcements via video conferencing today i.e. on 24th March, 2020. The Minister of State for Finance & Corporate Affairs Shri Anurag Singh Thakur, Finance Secretary Shri A.B. Pandey and Shri Atanu Chakraborty, Secretary, Department of Economic Affairs also marked their presence.
Changes in the GST/Indirect Tax:
- Those having aggregate annual turnover less than Rs. 5 Crore Last date can file GSTR-3B due in March, April and May 2020 by the last week of June, 2020. No interest, late fee, and penalty to be charged.
- Others can file returns due in March, April and May 2020 by last week of June 2020 but the same would attract reduced rate of interest @9 % per annum from 15 days after due date (current interest rate is 18 % per annum). No late fee and penalty to be charged, if complied before till 30th June 2020.
- Date for opting for composition scheme is extended till the last week of June, 2020. Further, the last date for making payments for the quarter ending 31st March, 2020 and filing of return for 2019-20 by the composition dealers will be extended till the last week of June, 2020.
- Date for filing GST annual returns of FY 18-19, which is due on 31st March, 2020 is extended till the last week of June 2020.
- Due date for issue of notice, notification, approval order, sanction order, filing of appeal, furnishing of return, statements, applications, reports, any other documents, time limit for any compliance under the GST laws where the time limit is expiring between 20th March 2020 to 29th June 2020 shall be extended to 30th June 2020.
- Necessary legal circulars and legislative amendments to give effect to the aforesaid GST relief shall follow with the approval of GST Council.
- Payment date under Sabka Vishwas Scheme shall be extended to 30th June, 2020. No interest for this period shall be charged if paid by 30th June, 2020.
Along with GST, the relief measures are also in the areas of Income Tax, Customs & Central Excise, Corporate Affairs, Insolvency & Bankruptcy Code (IBC) Fisheries, Banking Sector and Commerce.
You can take a look at press release on all the relief measures in view of Covid-19.
