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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 - 141/11/2020

Extract

..... providing relief to the taxpayers. The GST Council, in its 40th meeting held on 12.06.2020, recommended further relief to the taxpayers and accordingly, following notifications have been issued: S. No. Notification No. Remarks 1. Notification No.51/2020- Central Tax, dated 24.06.2020. Seeks to provide relief to taxpayers by reducing the rate of interest from 18% per annum to 9% per annum for specified period. 2. Notification No.52/2020- Central Tax, dated 24.06.2020. Seeks to provide relief to taxpayers by conditional waiver of late fee for delay in furnishing FORM GSTR-3B for specified period. 3. Notification No.53/2020- Central Tax, dated 24.06.2020. Seeks to provide relief to taxpayers by conditional waiver of late fee for delay in furn .....

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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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..... e due date of return, till the date on which the return is filed. 3.2 The Government, vide notification no 51/2020- Central Tax, dated 24.06.2020 has removed the said condition. Accordingly, a lower rate of interest of NIL for first 15 days after the due date of filing return in FORM GSTR-3B and @ 9% thereafter till 24.06.2020 is notified. After the specified date, normal rate of interest i.e. 18% per annum shall be charged for any further period of delay in furnishing of the returns. 3.3 The calculation of interest in respect of this class of registered persons for delayed filing of return for the month of March, 2020 (due date of filing being 20.04.2020) is as illustrated in the Table below: Table Sl. No. Date of filing GSTR-3B No. of day .....

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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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..... ishing of the returns. 4.2 The calculation of interest in respect of this class of registered persons for delayed filing of return for the month of March, 2020 (for registered persons for whom the due date of filing was 22.04.2020) and June, 2020 (for registered persons for whom the due date of filing is 22.07.2020) is as illustrated in the Table below: Table S. No. Tax period Applicable rate of interest Date of filing GSTR-3B No. of days of delay Interest 1 March, 2020 Nil till the 3rd day of July, 2020, and 9 per cent thereafter till the 30th day of September, 2020 22.06.2020 61 Zero interest 2 22.09.2020 153 Zero interest for 72 days, thereafter interest rate @9% p.a. for 81 days 4 22.10.2020 183 Zero interest for 72 days, thereafter int .....

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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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