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Several relief measures relating to Statutory and Regulatory compliance - GST

Press Release dated 24th March ,2020Several relief measures relating to Statutory and Regulatory compliance 


Latest GST Notifications 2020 & 2019 for Central, Integrated & UT ...

Extension of Due Date of filing GSTR-3B for registered persons having Turnover less than 5 Crores:-

Those having aggregate annual turnover less than Rs. 5 Crore, can file GSTR-3B for the month of Feb, March, April 2020 by the last week of June, 2020. No interest, late fee, and penalty to be charged.

Reduction of Interest Rate & relaxation of Penalty & Late fees  for registered persons having Turnover of 5 Crores or above:-

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.

Extension of date of opting  for Composition Scheme:-

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. 

Extension of Due Date of GST Annual Return for F.Y. 2018-19:-

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.

Extension of Due Date for issuing notices etc:-

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

Issuance of Legal Circulars:-

Necessary legal circulars and legislative amendments to give effect  to the aforesaid GST relief shall follow with the approval of GST Council.

Extension of Payment date under SVLDRS:-

Payment date under SabkaVishwas Scheme shall be extended to 30th June, 2020. No interest for this period shall be charged if paid by 30th June, 2020.


Compiled By

CA.R.Jeyarajan FCA., CISA., Cert.IFRS
Jeyarajan@rareassociates.in

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