Announcement

Collapse
No announcement yet.

GOODS & SERVICES TAX / IDT UPDATE – 83

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

  • GOODS & SERVICES TAX / IDT UPDATE – 83

    GST/Indirect Tax

    Extension of Due Date of filing GSTR-3B for registered persons having Turnover less than 5 Crores:-Those having aggregate annual turnover less than Rs. 5 Crore, can file GSTR-3B for the month of Feb, March, April 2020 by the last week of June, 2020. No interest, late fee, and penalty to be charged.

    Reduction of Interest Rate & relaxation of Penalty & Late fees for registered persons having Turnover of 5 Crores or above:-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.

    Extension of date of opting for Composition Scheme:-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.

    Extension of Due Date of GST Annual Return for F.Y. 2018-19:-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.

    Extension of Due Date for issuing notices etc:-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.

    Issuance of Legal Circulars:-Necessary legal circulars and legislative amendments to give effect to the aforesaid GST relief shall follow with the approval of GST Council.

    Extension of Payment date under SVLDRS:-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

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

    Founder & Creative Mind of Megrisoft
    www.indiabook.com
    Entertainment
    Please Do Not Spam Our Forum
Working...
X