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Coronavirus Effect | Late Fees & Interest penalty Waived for GSTR 3B & Grant Extension of Due Date for May’20.

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 As per an earlier announcement made by the honourable finance minister, CBIC (Central Board of Indirect taxes & Custom) issue notification for waiver of late fee & Interest penalty for filling of GSTR 3B for the period of Feb-Apr’20
 

For the availing benefit of notification, Return must be filled by the 30th Jun 2020.

Further Due date for filing GSTR 3B of May’20 also extended to 12th Jul 2020.



With worldwide Increase in the spread of COVID-19, India did not remain untouched from its effect, A per latest updates 6,700 confirmed Cases were reported with death already surpass to over 200 lives. Government by taking quick & effective measures enforce full Lockdown in the entire country for the Period of 21 Days, effective from 25th Mar 2020. (For update over current cases overview)


With an appreciable step taken by the Honorable prime Minister, India is successfully able to keep the spread of COVID-19 under control but it results in a huge burden over the country economy. Ultimate burden come over the manufacturers & Small & medium business Houses (Get detailed impact analysis here).

Government Announce  reliefs & loosen the compliance burden for business houses. On 24th Mar 2020, in press conference Honorable finance minister Mrs Sitharaman announced a slew of measures to fight the economic fallout of COVID-19 pandemic by allowing extension of the last date for filing GSTR-3B for Goods and Services Tax (GST) for the period Feb to April to June 30


In pursuance of such announcement made by FM, two new notification issued today on 10th April 2020. wherein government waived the interest penalty for late filling of GSTR 3B. However, relaxation is subject to the condition mentioned in the notification:

                                                                                 

Following conditional relaxation is given by the notification number 34/2020- Central Tax 

For the taxpayers having an aggregate turnover of more than Rs. 5 Crores in the preceding financial year, They liable to pay the NIL interest rate for the first 15 days from the due date and then 9% of the interest would be applicable after 15 days. The tax period prescribed for such a class of person shall be from February, April and March 2020.

 

For the second class of taxpayers who are having an aggregate turnover of more than Rs. 1.5 Crores and up to 5 crores in the preceding financial years are liable to pay the NIL interest rate. The tax period prescribed for such a class of person shall be from February, and March 2020.

 

And at last for the taxpayers having an aggregate turnover of Rs. 1.5 Crores in the preceding financial years are liable to pay the NIL interest rate. The tax period prescribed for such a class of person shall be from February, March, and April 2020.

See full Notification Here: Notification 32/20- Central tax 


Another notification was issued by the CBIC for the extending the due date for the filling of GSTR 3B for the month of May 2020.

As per the notification latest due date for filling of May’20 GSTR 3B as follows:

 


Refer Detailed Notification here- 36/20- Central Tax 






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