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Update on Goods and Service Tax (GST)

RELAXATION IN COMPLIANCES AMID COVID-19 OUTBREAK

09APRIL 2020

Particulars

Description

Due Date

Extended Date

REGULAR TAX PAYERS

Restriction on availment of Input Tax Credit

Applicability of maximum allowance of credit in GSTR-3B vis-à-vis GSTR-2A

(Period February 2020 to August 2020)

Respective due dates of GSTR-3B

Cumulatively extended till due date of September 2020

Reduction in Interest on Taxes & waiver of Late fees on filing of GSTR-3B if filed with in extended date

Aggregate Turnover> INR 50 Million

February 2020, March 2020 & April 2020

• No Interest for first 15 days counted from normal due date and thereafter 9% p.a.
• No late fees

Earlier on staggered manner from 20^th-24^th of next month depending upon states

24.06.2020

INR 15 Million <Aggregate Turnover< INR 50 Million

February & March 2020

April 2020

• No Interest and late fees

Earlier on staggered manner from 20^th-24^th of next month depending upon states

29.06.2020

30.06.2020

Aggregate Turnover< INR 15 Million

February 2020

March 2020

April 2020

• No Interest and late fees

Earlier on staggered manner from 20^th-24^th of next month depending upon states

30.06.2020

03.07.2020

06.07.2020

Waiver of Late fee on filing of GSTR-1 if filed in extended date

Monthly Filers

March 2020

April 2020

May 2020

Quarter Filers

January to March 2020

11.04.2020

11.05.2020

11.06.2020

31.05.2020

For all

on or before

30.06.2020

COMPOSITION TAX PAYERS

Compliance for opting Composition Scheme

Taxpayer to opt Composition Scheme (Form CMP-02)

31.03.2020

30.06.2020

Such taxpayer to pay/reverse ITC claimed earlier (Form ITC-03)

31.05.2020

31.07.2020

Tax and Return filing

Quarterly Statement of Taxes by Composition Dealer for January 2020 to March 2020 (Form CMP-08)

18.04.2020

07.07.2020

Yearly Tax Return by Composition Dealer for FY 2019-20 (Form GSTR-4)

30.04.2020

15.07.2020