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7 April 2020

Various Relaxation given by the CBIC due to Covid-19 Outbreak

A lot of discussions are going on concerning the taxability of director's remuneration under GST subsequent to a ruling pronounced by Rajasthan AAR in the matter of M/s Clay Craft India Pvt. Ltd. vide Order no. RAJ/AAR/2019-20/33 dated 20 February 2020.

Amid the corona virus outbreak, the government has announced various relaxation to the tax payers. In order to give effects to such relaxation, the government has issued various notification dated on 3rd April 2020. A glimpse of such relaxations have been enlisted as follows:

 
  1. Extended due date for opting of Composition Scheme: Any Person who opts to pay tax under section 10 for the Financial Year 2020-21 shall electronically file an intimation in FORM GST CMP-02, on or before 30th day of June, 2020 and shall furnish the statement in FORM GST ITC-03 in accordance with the provisions of sub-rule (4) of rule 44 up to the 31st day of July, 2020. ( Notification No. 30/2020-Central Tax)
 
  1. Deferment of ITC Restriction under Rule 36(4): The condition of availing ITC in accordance with Rule 36(4) shall apply cumulatively for the period February, March, April, May, June, July and August, 2020 and the return in FORM GSTR-3B for the tax period September, 2020 shall be furnished with the cumulative adjustment of input tax credit for the said months in accordance with the sais rule. (Notification No. 30/2020-Central Tax)
 
  1. Waiver of Late fee and Interest:
Form
Conditions
Month
Original Due date
Actual Date Of filing
Interest*
Late Fee^
GSTR-3B
Turnover greater than 5 Crore
 
Feb-20
20th March, 2020.
On or Before
24th June, 2020
Nil - First 15 days
9% - thereafter
Nil
Mar-20
20th April, 2020.
Nil
Apr-20
20th May, 2020.
Nil
Turnover above 1.5 Crore up to 5 Crore
Feb-20
20th to 24th March, 2020.
On or before
29th June, 2020
Nil 
Nil
Mar-20
20th to 24th April, 2020.
On or Before
29th June, 2020
Nil 
Nil
Apr-20
20th to 24th May, 2020.
On or Before
30th June, 2020
Nil 
Nil
Turnover up to 1.5Crore
Feb-20
20th to 24th March, 2020.
On or Before
30th June, 2020
Nil 
Nil
Mar-20
20th to 24th April, 2020.
On or Before
03rd July, 2020
Nil 
Nil
Apr-20
20th to 24th May, 2020.
On or Before
06th July, 2020
Nil 
Nil
#CMP- 08
As applicable
4th Qtr.
18th April, 2020
07th July, 2020
N.A.
Nil
#GSTR-4
As applicable
2019-20
30th April, 2020
15th July, 2020
N.A.
Nil
* {Notification No. 31/2020-Central Tax}
^ {Notification No. 32/2020-Central Tax}
# {Notification No. 32/2020-Central Tax}
 
  1. Extended due date of GSTR-3B for May 2020: The due date of filing of GSTR-3B has been extended in staggered manner for different category of tax payers.
  1. For taxpayers having an aggregate turnover of more than INR 5 crore rupees in the previous financial year, FORM GSTR-3B for the month of May, 2020 shall be furnished on or before the 27th June, 2020.
  2. For taxpayers having aggregate turnover up to INR 5 crore: The dates have been provided in staggered manner, for different state between 12 July 2020 and 14 July 2020.
{Notification No. 36/2020-Central Tax}
 
  1. Waiver of Late Fees of GSTR-1: Late fee has been waived for the months of March, 2020, April, 2020 and May, 2020, and for the quarter ending 31st March, 2020, for the registered persons who fail to furnish FORM GSTR-1 by the due date, but furnishes the same on or before the 30 June 2020. {Notification No. 33/2020-Central Tax}
 
  1. Extension of time limit for compliance action: Any time limit for completion or compliance of any action, by any authority or by any person, has been specified in, or prescribed or notified under the CGST Act, which falls during the period from the 20th day of March, 2020 to the 29th day of June, 2020, and where completion or compliance of such action has not been made within such time, then, the time limit for completion or compliance of such action, shall be extended up to the 30th day of June, 2020, But such extension of time shall not be applicable for some compliances of the provisions of the said Act such as filing of returns, power to arrest under section 69, levy of penalty under Section 122 and provision related e-way bill requirement during movement of goods. {Notification No. 35/2020-Central Tax}
 
  1. Extending validity of E-Way Bill: Where an e-way bill has been generated under Rule 138 of the Central Goods and Services Tax Rules, 2017 and its period of validity expires during the period 20th day of March, 2020 to 15th day of April, 2020, the validity period of such e-way bill shall be deemed to have been extended till the 30th day of April, 2020. {Notification No. 35/2020-Central Tax}