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27 Apr 2020Posted By: Mudit Handa


Major Relaxations in GST Return Filing Procedure during COVID-19

The world is entrapped in a major economic crisis due to the COVID-19 pandemic. Due to the serious impact of economic recession on the Indian businesses due to the COVID-19 pandemic, the Indian Government had declared some key relief measures in respect of GST return filing. 

The Central Board of Indirect Taxes and Customs (CBIC) has now extended the due date for filing GSTR-3B return filing for the month of February, March, April, and May 2020. 

Besides, a few other relaxations have also been introduced in the GST Return Filing Procedure. Let us understand in detail.

 

1. How far is the  GSTR-3B filing due-date extended?

The due date of the GST return filing in Form GSTR-3B has been now extended till 30th June 2020. The GSTR-3B filing due dates for the month of May 2020 have now been extended in a staggered manner from 20th, 22nd, and 24th of June 2020 to 27th June, 12th July, and 14th July respectively. 


2. How is the GSTR-3B filing due-date extended?

The due dates of GSTR-3B filing have been extended in a staggered manner as explained below:

  1. For the registered GST taxpayers with the aggregate annual turnover up to ₹1.5 Crore, the last dates to file the GSTR-3B has been extended as below:-

  • March 2020: 3rd July 2020
  • April 2020: 6th July 2020
  • May 2020: 12th July 2020 

Here, the late fee for filing the return has been waived off. 

  1. For the registered GST taxpayers with the aggregate annual turnover of more than ₹5 Crore, the last date to file GST returns for the months of March, April, and May 2020 has been extended as below:-

  • March 2020: 24th June 2020
  • April 2020: 24th June 2020
  • May 2020: 27th June 2020
  1. For the registered GST taxpayers with the aggregate annual turnover of between ₹1.5 Crore to 5 crores, the last date to file GSTR-3B returns has been extended as below:-

  • March 2020: 29th June 2020
  • April 2020: 30th June 2020
  • May 2020: 12th July 2020

For a better understanding of the taxpayers, the GSTR-3B due dates have been shown a tabular form:-

Due Dates of GSTR-3B:

Type of return

Month 

Due date

For turnover > INR 5 crore

Feb 2020

24/6/2020

Mar 2020

24/6/2020

Apr 2020

24/6/2020

May 2020

27/6/2020

For turnover between INR 1.5 crore to 5 crore

Feb 2020

29/6/2020

Mar 2020

29/6/2020

Apr 2020

30/6/2020

May 2020

12/7/2020

For turnover < INR 1.5 crore

Feb 2020

30/6/2020

Mar 2020

3/7/2020

Apr 2020

6/7/2020

May 2020

12/7/2020

 

3. How will the interest be charged for the late filing of GSTR-3B?

To make it easier, the Government has lowered the rate of interest for late filing of GST returns. 

  • The interest rate has been reduced from 12% to 9% p.a. starting from 15 days after the due date.

  • Thereafter, every taxpayer will have to pay at the earlier interest rate i.e. 18% p.a. along with the late fees for late filing of GSTR-3B.


4. What are the relaxations for Composition taxpayers?

Here are the relaxations for Composition taxpayers:-

  • The due date for GST Registration in the composition scheme also has been now extended till 30th June 2020. 

  • Further, the deadline for GST payments for the quarter ending 31st March 2020 as well as GST return filing for the financial year 2019-20 by the composition dealers shall also be extended till 30th June 2020. 


5. What relaxation has been given for Annual GST return filing?

The due date for filing of GST annual returns of the financial year 2018-19, has been now extended from 31st March 2020 to 30th June 2020.

As per the Finance Ministry, the due dates for the issue of notices, notifications, approval orders, sanction orders, filing of any appeal, any other GST return, audit reports, applications, and all other documents, and GST compliance was between 20th March to 29th June 2020 has now been extended to 30th June 2020. 

These are some major relaxations given to the GST taxpayers in respect of GST return filing and other GST compliance. 

 
If you require any other guidance with respect to GST return filing, GST registration, and other GST compliance, please feel free to contact our business advisors at 8881-069-069.

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