Quick referance to GST Tax compliance reliefs amid COVID-19

Quick referance to GST Tax compliance reliefs amid COVID-19

Quick reference to tax compliance and reliefs provided under The Taxation and Other Laws (Relaxation of Certain Provisions) Ordinance, 2020 and Notifications issued after 20.3.2020

GST Return u/s 39 in Form GSTR 3B

Extension

No extension has been allowed for the months February, March and April, 2020.

However, extension has been allowed for the month of May, 2020 by inserting following provisos in the 1st paragraph of Notification No. 29/2020-Central Tax dated 23.3.2020 vide Notification No. 36/2020- Central Tax dated 3.4.2020:

“Provided also that, for taxpayers having an aggregate turnover of more than rupees 5 crore rupees in the previous financial year, the return in FORM GSTR-3B of the said rules for the month of May, 2020 shall be furnished electronically through the common portal, on or before the 27th June, 2020:

Provided also that, for taxpayers having an aggregate turnover of up to rupees five crore rupees in the previous financial year, 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, the return in FORM GSTR-3B of the said rules for the month of May, 2020 shall be furnished electronically through the common portal, on or before the 12th day of July, 2020:

Provided also that, for taxpayers having an aggregate turnover of up to rupees five crore rupees in the previous financial year, 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, the return in FORM GSTR-3B of the said rules for the month of May, 2020 shall be furnished electronically through the common portal, on or before the 14th day of July, 2020.”

Interest

Interest has either been waived or reduced by amendment of Notification No. 13/2017-Central Tax dated 28.6.2017 vide Notification No. 31/2020-Central Tax dated 3.4.2020

Late Fee

Late fee has been waived by inserting following 3rd proviso to Notification No. 76/2018-Central Tax dated 31.12.2018 vide Notification No. 32/2020-Central Tax dated 3.4.2020

“Provided also that the amount of late fee payable under section 47 shall stand waived for the tax period as specified in column (3) of the Table given below, for the class of registered persons mentioned in the corresponding entry in column (2) of the said Table, who fail to furnish the returns in FORM GSTR-3B by the due date, but furnishes the said return according to the condition mentioned in the corresponding entry in column (4) of the said Table, namely:–.”

Table For Quick Referance:

Quick referance to GST Tax compliance reliefs amid COVID-19

This article has been authored by By CA. Rajiv Kumar Jain. He can be contacted at 9810288997.

Here is the link of video on Webinar on Interpretation of Relief Ordinance, 2020 dated 31 03 2020:

You May Also Refer:

• Low GST interest Rate on late filing of FORM GSTR-3B amid COVID19
• GST Relief announced by the FM in lieu of Covid19 Notified

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