Government Announces GST Relaxations During Lockdown 3.0

The Government has introduced various GST relaxations amid the Lockdown 3.0 that will continue till 17th May 2020.

As we know that the world is caught into a great economic depression due to the COVID-19 pandemic. Due to the adverse impacts of the economic recession on the Indian small businesses during COVID-19 lockdown, the Indian Government had brought some key relief measures with respect to GST registration, GST return filing, and other compliance.

The government had recently extended the due date for filing GSTR-3B return filing. A few steps were taken to ease the GST Return Filing Procedure.

Now, amid the Lockdown 3.0, the Central Board of Indirect Taxes and Customs (CBIC) has now amended the CGST Rules to provide certain GST relaxations to the taxpayers having GST registration.

These rules may be called- Central Goods & Services Tax (5th Amendment) Rules, 2020.

Let us have a look at the key GST relaxations given to the taxpayers.

#1. GSTR-3B can be filed without DSC

CBIC has stated in its notification that from now onwards, the taxpayers having GST registration shall be given the option to file the GSTR-3B return with the Electronic Verification Code (EVC) only. There will be no need to file GSTR-3B with the Digital Signature Certificate (DSC). This GST relaxation is for the period from the 21st April 2020 to the 30th of June 2020.

Know in detail: No need for DSC to file GSTR-3B.

#2. Extension of the time-limit for E-way bill generation

Next GST relaxation is regarding the extension of the deadline for E-way bill generation. If an E-way bill has been generated on or before the 24th March 2020, and its validity will expire during the period from 20th March 2020 to 15th April 2020, the validity of such an e-way bill shall be deemed to be extended till 31st May 2020.

#3. GST Registration of IRP/RP of Corporate Debtors

Those businessmen who are undergoing the Corporate Insolvency Resolution Process (CIRP), appoint Interim Resolution Professional (IRP) or Resolution Professional (RP) to manage their affairs.

CBIC has stated in its notification that IRP/RP so appointed by a corporate debtor under CIRP shall be treated as a distinct person from the Corporate Debtor. The IRP/RP is now required to obtain a new GST Registration in each of the States/UTs where the Corporate Debtor himself has obtained the GST Registration.

These are the new changes and relaxations as regards the GST rules introduced during Lockdown 3.0.