In view of the challenges faced by
taxpayers in meeting the statutory and regulatory compliance requirements
across sectors due to the outbreak of Corona Virus, The government has again
come up with Notifications on providing relief to the taxpayers
Notification No. 49/2020 - Central Tax dated 24th June 2020
- Has appointed 30-06-2020 as the date for 4 Sections of finance act 2020 to come in force
- Has added Dadra and Nagar Haveli and Daman and Diu; & Ladakh in the definition of Union Territory Has given power to the government for Constitution of Appellate Tribunal and Benches for Jammu & Kashmir
- Has corrected the point w.r.t the Power to issue instructions or directions
- Has extended the issuing of Removal of difficulties order from 3 years to 5 years
Notification No. 50/2020 - Central Tax dated 24th June 2020
Amended Rules 7 of the
CGST Rules 2017 with a new entry for Composition tax payers who are
providing services will be taxed at rate of 6% (CGST – 3% & SGST/UTGST – 3%).
Notification No. 51/2020 - Central Tax dated 24th June 2020
Lowered interest rate for a prescribed time for tax
periods from Feb. 2020 to July 2020 for delayed filing of GSTR3B.
|
Class
of Registered Person |
Rate
of Interest |
Tax
Period |
|
Taxpayers having an aggregate turnover
> Rs. 5 crores in preceding FY |
|
February 2020 To April 2020 |
|
Taxpayers having an aggregate turnover
up to Rs. 5 crores in the preceding FY
(Chhattisgarh, Madhya Pradesh,
Gujarat, Maharashtra, Karnataka, Goa, Kerala, Tamil Nadu, Telangana or Andhra
Pradesh or the Union territories of Daman and Diu and Dadra and Nagar Haveli,
Puducherry, Andaman and Nicobar Islands and Lakshadweep) |
|
February
2020 |
|
March 2020 |
|
|
April
2020 |
|
|
May 2020 | |
|
June
2020 |
|
|
July 2020 |
|
|
Taxpayers having an aggregate turnover
of up to Rs. 5 crores in the preceding FY
(Himachal Pradesh, Punjab,
Uttarakhand, Haryana, Rajasthan, Uttar Pradesh, Bihar, Sikkim, Arunachal
Pradesh, Nagaland, Manipur, Mizoram, Tripura, Meghalaya, Assam, West Bengal,
Jharkhand or Odisha or the Union territories of Jammu and Kashmir, Ladakh,
Chandigarh and Delhi) |
|
February
2020 |
|
March 2020 |
|
|
April
2020 |
|
|
May 2020 |
|
|
June
2020 |
|
|
July 2020 |
Notification No. 52/2020 - Central Tax dated 24th June 2020
Wavier of Late Fees for delay in filing of GSTR-3B
|
Class
of Registered Person |
Tax
Period |
Condition |
|
Taxpayers having an aggregate turnover
> Rs. 5 crores in preceding FY |
February
2020 To April
2020 |
3B
is furnished on or before 24.06.2020 |
|
Taxpayers having an aggregate turnover
up to Rs. 5 crores in the preceding FY
(Chhattisgarh, Madhya Pradesh,
Gujarat, Maharashtra, Karnataka, Goa, Kerala, Tamil Nadu, Telangana or Andhra
Pradesh or the Union territories of Daman and Diu and Dadra and Nagar Haveli,
Puducherry, Andaman and Nicobar Islands and Lakshadweep) |
February
2020 |
3B is
furnished on or before 30.06.2020
|
|
March
2020 |
3B
is furnished on or before 03.07.2020
|
|
|
April 2020 |
3B is
furnished on or before 06.07.2020
|
|
|
May
2020 |
3B
is furnished on or before 12.09.2020 |
|
|
June 2020 |
3B is
furnished on or before 23.09.2020 |
|
|
July
2020 |
3B
is furnished on or before 27.09.2020 |
|
|
Taxpayers having an aggregate turnover
of up to Rs. 5 crores in the preceding FY
(Himachal Pradesh, Punjab,
Uttarakhand, Haryana, Rajasthan, Uttar Pradesh, Bihar, Sikkim, Arunachal
Pradesh, Nagaland, Manipur, Mizoram, Tripura, Meghalaya, Assam, West Bengal,
Jharkhand or Odisha or the Union territories of Jammu and Kashmir, Ladakh,
Chandigarh and Delhi) |
February
2020 |
3B is
furnished on or before 30.06.2020
|
|
March
2020 |
3B
is furnished on or before 05.07.2020
|
|
|
April 2020 |
3B is
furnished on or before 09.07.2020
|
|
|
May
2020 |
3B
is furnished on or before 15.09.2020 |
|
|
June 2020 |
3B is
furnished on or before 25.09.2020 |
|
|
July
2020 |
3B is furnished on or before 29.09.2020 |
One-time scheme for Non-Fillers of return
An waiver / reduction in the late fees for those registered persons who have failed to for reduced Late Fees for the persons who have not failed to furnish the return the return in FORM GSTR-3B for the months of July, 2017 to January, 2020, by the due date but furnishes the said return between the period from 01st day of July, 2020 to 30th day of September, 2020.
|
For Registered Persons having
tax liability |
Maximum late fees Rs. 500/- |
|
For Nil Tax Liability |
No Late Fees |
Notification No. 53/2020 - Central Tax dated 24th June, 2020
Waiver of late fee for
delay in filing GSTR-1- March to June 2020 if the returns are filed within the
time period mentioned in below table:
|
Month/Quarter |
Dates |
|
March,
2020 |
10.07.2020 |
|
April,
2020 |
24.07.2020 |
|
May,
2020 |
28.07.2020 |
|
June,
2020 |
05.08.2020 |
|
Jan.
2020 to March 2020 |
17.07.2020 |
|
April
2020 to June 2020 |
03.08.2020 |
Notification No. 54/2020
- Central Tax dated 24th June, 2020
GSTR-3B due date for
the month of August 2020
|
Class
of Registered Person |
Tax
Period |
Condition |
|
Taxpayers having an aggregate turnover
> Rs. 5 crores in preceding FY |
August
2020 |
3B
is furnished on or before 20.09.2020 |
|
Taxpayers having an aggregate turnover up to Rs. 5 crores in the preceding FY (Chhattisgarh, Madhya Pradesh,
Gujarat, Maharashtra, Karnataka, Goa, Kerala, Tamil Nadu, Telangana or Andhra
Pradesh or the Union territories of Daman and Diu and Dadra and Nagar Haveli,
Puducherry, Andaman and Nicobar Islands and Lakshadweep) |
August 2020 |
3B is
furnished on or before 01.10.2020
|
|
Taxpayers having an aggregate turnover
of up to Rs. 5 crores in the preceding FY
(Himachal Pradesh, Punjab,
Uttarakhand, Haryana, Rajasthan, Uttar Pradesh, Bihar, Sikkim, Arunachal
Pradesh, Nagaland, Manipur, Mizoram, Tripura, Meghalaya, Assam, West Bengal,
Jharkhand or Odisha or the Union territories of Jammu and Kashmir, Ladakh,
Chandigarh and Delhi) |
August
2020 |
3B
is furnished on or before 03.10.2020
|
Disclaimer: This is meant purely for general education purpose.While the information is believed to be accurate to the best of my knowledge, I do not make any representations or warranties, express or implied, as to the accuracy or completeness of this information. Reader should conduct and rely upon their own examination and analysis and are advised to seek their own professional advice. This note is not an offer, invitation, advice or solicitation of any kind. I accept no responsibility for any errors it may contain, whether caused by negligence or otherwise or for any loss, howsoever caused or sustained, by the person who relies upon it.
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Good news.. Nice sir for updating us
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