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Clarification in respect of various measures announced by the Government for providing relief to the taxpayers in view of spread of Novel Corona Virus (COVID-19) - GST - 136/06/2020

Extract

..... e trade and industry. In view of the emergent situation and challenges faced by taxpayers in meeting the compliance requirements under various provisions of the Central Goods and Services Tax Act, 2017 (hereinafter referred to as the “CGST Act”), Government has announced various relief measures relating to statutory and regulatory compliance matters across sectors. 2. Government has issued following notifications in order to provide relief to the taxpayers: S. No. Notification Remarks 1. Notification No. 30/2020- Central Tax, dated 03.04.2020 Amendment in the CGST Rules so as to allow taxpayers opting for the Composition Scheme for the financial year 2020-21 to file their option in FORM CMP-02 till 30th June, 2020 and to allow c .....

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Clarification in respect of various measures announced by the Government for providing relief to the taxpayers in view of spread of Novel Corona Virus (COVID-19) - GST

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..... .04.2020 Extension of due date of furnishing statement, containing the details of payment of self-assessed tax in FORM GST CMP-08 for the quarter ending 31st March, 2020 till the 7th day of July, 2020 and filing FORM GSTR-4 for the financial year ending 31st March, 2020 till the 15th day of July, 2020. 6. Notification No. 35/2020- Central Tax, dated 03.04.2020 Notification under section 168A of CGST Act for extending due date of compliance which falls during the period from the 20th day of March, 2020 to the 29th day of June, to 30th day of June, 2020. 3. Various issues relating to above mentioned notifications have been examined. In order to ensure uniformity in the implementation of the provisions of the law across the field formations, t .....

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Clarification in respect of various measures announced by the Government for providing relief to the taxpayers in view of spread of Novel Corona Virus (COVID-19) - GST

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..... the due date of filing return in FORM GSTR-3B and reduced rate of interest @ 9% thereafter has been notified for those registered persons whose aggregate turnover in the preceding financial year is above ₹ 5 Crore. For those registered persons having turnover up to ₹ 5 Crore in the preceding financial year, NIL rate of interest has also been notified. 3. Further, vide notification as per the notification No. 32/2020- Central Tax, dated 03.04.2020, Government has waived the late fees for delay in furnishing the return in FORM GSTR-3B for the months of February, March and April, 2020. 4. The lower rate of interest and waiver of late fee would be available only if due tax is paid by filing return in FORM GSTR-3B by the date(s) as .....

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Clarification in respect of various measures announced by the Government for providing relief to the taxpayers in view of spread of Novel Corona Virus (COVID-19) - GST

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..... ation of interest for delayed filing of return for the month of March, 2020 (due date of filing being 20.04.2020) may be illustrated as per the below Table : S. No. Date of filing GSTR-3B No. of days of delay Whether condition for reduced interest is fulfilled? Interest 1 02.05.2020 11 Yes Zero interest 2 20.05.2020 30 Yes Zero interest for 15 days + interest rate @9% p.a. for 15 days 3 20.06.2020 61 Yes Zero interest for 15 days + interest rate @9% p.a. for 46 days 4 24.06.2020 65 Yes Zero interest for 15 days + interest rate @9% p.a. for 50 days 5 30.06.2020 71 NO Interest rate @18% p.a. for 71 days (i.e. no benefit of reduced interest) 5. What are the conditions attached for availing the NIL rate of interest for the months of February, M .....

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Clarification in respect of various measures announced by the Government for providing relief to the taxpayers in view of spread of Novel Corona Virus (COVID-19) - GST

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..... ne, 2020. 7. Whether restriction under rule 36(4) of the CGST Rules would apply during the lockdown period? Vide notification No. 30/2020- Central Tax, dated 03.04.2020, a proviso has been inserted in CGST Rules 2017 to provide that the said condition shall not apply to input tax credit availed by the registered persons in the returns in FORM GSTR-3B for the months of February, March, April, May, June, July and August, 2020, but that the said condition shall apply cumulatively for the said period and that the return in FORM GSTR-3B for the tax period of September, 2020 shall be furnished with cumulative adjustment of input tax credit for the said months in accordance with the condition under rule 36(4). 8. What will be the status of e-way b .....

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Clarification in respect of various measures announced by the Government for providing relief to the taxpayers in view of spread of Novel Corona Virus (COVID-19) - GST

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..... uring the lock-down period announced by the Government. What should the taxpayer do? Vide notification No. 35/2020- Central Tax, dated 03.04.2020, issued under the provisions of 168A of the CGST Act, except for few provisions covered in exclusion clause, any time limit for completion or compliance of any action which falls during the period from the 20th day of March, 2020 to the 29th day of June, 2020, and where completion or compliance of such action has not been made within such time, has been extended to 30th day of June, 2020. 4. It is requested that suitable trade notices may be issued to publicize the contents of this circular. 5. Difficulty, if any, in the implementation of the above instructions may please be brought to the notice .....

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Clarification in respect of various measures announced by the Government for providing relief to the taxpayers in view of spread of Novel Corona Virus (COVID-19) - GST

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