In view of the emergent situation and challenges faced by taxpayers in meeting the compliance requirements under various provisions of the CGST Act, 2017, Government has announced various relief measures relating to statutory and regulatory compliance matters across sectors.
1. Notification No.30/2020-Central Tax, dated 03.04.2020
– To allow taxpayers opting for the Composition Scheme for the financial year 2020-21 to file their option in FORM CMP-02till 30thJune, 2020
– to allow cumulative application of the condition in rule 36(4) for the months of February, 2020 to August, 2020 in the return for tax period of September, 2020
2. Notification No.31/2020-Central Tax, dated 03.04.2020
– 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 is notified for those registered persons having aggregate turnover above Rs. 5 Crore for the tax periods of February, 2020 to April, 2020
– NIL rate of interest is notified for those registered persons having aggregate turnover below Rs. 5 Crore in the preceding financial year, for the tax periods of February, 2020 to April, 2020
3. Notification No.32/2020-Central Tax, dated 03.04.2020
– Waiver of late fee for delay in furnishing returns in FORM GSTR-3Bfor the tax periods of February, 2020 to April, 2020 if it is filed within prescribed time
4. Notification No.33/2020-Central Tax, dated 03.04.2020
– Waiver of late fee for delay in furnishing the statement of outward supplies in FORM GSTR-1 for taxpayers for the tax periods March,2020 to May,2020 and for quarter ending 31st March 2020 if the same are furnished on or before 30th day of June, 2020
5. Notification No.34/2020-Central Tax, dated 03.04.2020
– Extension of imte limits for compliance by Composition supplier by way of extending date of payment of self-assessed tax in FORM GST CMP-08 for the quarter ending 31st March, 2020 till the 7th day of July, 2020 and filing FORM GSTR-4 for the financial year ending 31st March, 2020 till the 15th day of July, 2020
6. Notification No.35/2020-Central Tax, dated 03.04.2020
– Extending due date of compliance which falls during the period from the 20th day of March, 2020 to the 29thday of June, to 30th day of June, 2020 except few exceptions.
A deeper analysis of the above provisions is as under:
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