Relief measures announced by Central Government

Following are the decisions with respect to statutory and regulatory compliance matters related to GST/ Indirect Tax

1. Those having aggregate annual turnover less than Rs. 5 Crore Last date can file  GSTR-3B due in March, April and May 2020  by the last week of  June, 2020. No interest, late fee, and penalty to be charged.

2.Others can file returns due in March, April and May 2020 by last week of June 2020  but the same would attract reduced rate of interest @9 % per annum from  15 days after due date (current interest rate is  18 % per annum). No late fee and penalty to be charged, if complied before till 30th June 2020.

3.Date for opting for composition scheme is extended till the last week of   June, 2020.  Further, the last date for making payments for the quarter ending 31st March, 2020 and filing of  return for 2019-20 by the composition dealers  will be extended  till the last week of June, 2020.

4. Date for filing GST annual returns of FY 18-19, which is due on 31st March, 2020 is extended till the last week of  June 2020.

5.Due date for issue of notice, notification, approval order, sanction order, filing of appeal, furnishing of return, statements, applications, reports, any other documents, time limit for any compliance under the GST laws where the time limit is expiring between 20th March 2020  to 29th June 2020 shall be extended to 30th June 2020.

6. Necessary legal circulars and legislative amendments to give effect  to the aforesaid GST relief shall follow with the approval of GST Council.

7. Payment date under Sabka Vishwas Scheme shall be extended to 30th June, 2020. No interest for this period shall be charged if paid by 30th June, 2020.

 Customs

8. 24X7 Custom clearance till end of 30th June, 2020

9. Due date for issue of notice, notification, approval order, sanction order, filing of appeal, furnishing applications, reports, any other documents etc., time limit for any compliance under the Customs Act and other allied Laws where the time limit is expiring between 20th March 2020  to 29th June 2020 shall be extended to 30th June 2020.