Recent Notifications issued under GST law

by | Jun 26, 2020 | Insight

Due to COVID-19, the Central Government extended due dates for filing of various returns (discussed in the earlier update). Recently, the Government has issued various Notifications to waive off late fee for filing Form GSTR-1 beyond due dates and reduction in late fee for filing Form GSTR-3B. The gist of changes recently made and updated due dates for filing various returns, is as under:

 

  1. Extension of time limit for filing Form GSTR-1 and Form GSTR-3B

 

Month

Form GSTR-1

Form GSTR-3B

Due date without late fee (earlier)

Due date without late fee

(now)

Due date without interest and late fee

(no change)

Due date with interest of 9 percent# p.a.

(no change)

February 2020

March 11, 2020

NA

April 4, 2020

June 24, 2020*

March 2020

June 30, 2020

July 10, 2020*

May 5, 2020

June 24, 2020*

April 2020

June 30, 2020

July 24, 2020*

June 4, 2020

June 24, 2020*

May 2020

June 30, 2020

July 28, 2020*

June 27, 2020

NA

June 2020

June 30, 2020

August 5, 2020*

July 20, 2020

NA

 

*There will be no late fee if Form GSTR-1or Form GSTR-3B is filed within specified dates. Thereafter, late fee shall apply for full period.

 

# If Form GSTR-3B is filed after June 24, 2020, interest of 18 percent p.a. shall apply for the period thereafter.

 

(Refer Notification No. 53/2020-Central Tax dated June 24, 2020, Circular No. 141/11/2020-GST dated June 24, 2020, Notification No. 31/2020-Central Tax dated April 3, 2020 and Notification No. 32/2020-Central Tax dated April 3, 2020)

 

  1. Reduction / waiver of late fee for all taxpayers

 

Government has reduced / waived off late fee for all taxpayers who did not furnish Form GSTR-3B for the period July 2017 to January 2020. This relaxation is subject to the condition that taxpayers furnish this return between July 2020 to September 2020. The taxpayers need to pay following late fee:

 

  • Taxpayers having no tax liability     :           Nil

 

  • Taxpayers having tax liability          :           Maximum late fee of Rs. 500 per return

 

(Refer Notification No. 52/2020-Central Tax dated June 24, 2020)

 

  1. Notification of provisions of the Finance Act, 2020

 

Certain technical provisions related to the Finance Act, 2020 have been notified and will be effective from June 30, 2020.

 

It is pertinent to note that important provisions relating to increasing time limit for availing Input Tax Credit (ITC) on debit notes and levy of interest on net liability under Section 50 of the Central Goods and Services Tax Act, 2017 have not yet been notified.

 

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