COVID-19 Outbreak : Relaxation in GST, and MCA Compliances ( Revised upto 30-06-2020)

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In the wake of COVID-19 virus outbreak , Govt has announced date extensions and relaxations for certain compliances. This blog will try to simplify these changes in term of due extensions, late fee, interest and penalty.

The due dates, waiver of late fee and reduction in interest rates have been notified from time to time. We are constantly updating the blog to reflect the latest.

GST

GSTR-3B

Due dates have been extended for the following month

Turnover during previous FYAug 2020
Upto 5 Crore and Group A States1 Oct
Upto 5 Crore and Group B States3 Oct
Above 5 CroreNA

https://www.cbic.gov.in/resources//htdocs-cbec/gst/notfctn-54-central-tax-english-2020.pdf

GSTR-3B : Waiver of late fee

Late fee for filing of GSTR-3B is capped at 500 i.e. Rs. 250 CGST + Rs.250 SGST , if GSTR-3B returns for period till July 2020 are filed on or before 20th Sept 2020

https://www.cbic.gov.in/resources//htdocs-cbec/gst/notfctn-57-central-tax-english-2020.pdf

GSTR-3B : Relaxation in Interest

Turnover during previous FYPeriodRelaxation in Interest/ Late Fee
Above 5 CroreFeb to Apr 2020No interest for delay upto 15 days.
Reduced Interest Rate ( from 18% to 9% ) and no late fee if filed upto 24 June


Turnover upto 5 Crore during previous FY

MonthNo Interest if filed upto Relaxation DateInterest after Relaxation Date
Feb 202030-06-20209% till 30-09-2020
Mar 03-07-20209% till 30-09-2020
April06-07-20209% till 30-09-2020
May12-09-20209% till 30-09-2020
June23-09-20209% till 30-09-2020
July 27-09-20209% till 30-09-2020
Aug01-10-2020NA
https://www.cbic.gov.in/resources//htdocs-cbec/gst/notfctn-51-central-tax-english-2020.pdf

GSTR-1 ( Updated upto 24-06-2020)

  • Due dates remain the same
  • However there is no late fee if GSTR-1 is filed on or before due dates mentioned in the table below
Month / QuarterDue Date
March 202010 July
April 202024 July
May 202028 July
June 202005 Aug
Quarter : Jan to March 202017 July
Quarter : Apr to June 202003 Aug
Notification 53/2020 Dated 24 June 2020

MCA

  • No change in due dates
  • However no late fee will be payable for delayed filing of any return, statement etc falling due between 1 April 2020 to 30 Sept 2020

Blog written for Proactly by CA Jigar Shah| Partner : S K Rathi & Co. Mumbai