Analysis of Recent GST  Notifications & Circulars issued by CBIC on 3rd April 2020 to Provide relaxation to Taxpayers

Notif 30/2020 – No 110% Restriction for Returns of February 2020 to Aug 2020

A proviso has been inserted under Rule 36(4) to provide that the condition of Restricting ITC to 110% of GSTR 2A figure for the months of February, March, April, May, June, July, August & Sep 2020 shall be applied CUMULATIVELY in the GSTR 3B for September, 2020

Period of Return ITC as per GSTR 2A ITC Available as per Books ITC to be taken in GSTR 3B
February 2020 100 120 120
March 2020 100 120 120
April 2020 100 120 120
May 2020 100 120 120
June 2020 100 120 120
July 2020 125 120 120
Aug 2020 125 120 120
Sep 2020 125 135 135 – [975 – (110% of 875)] = 122.5
Total 875 975 962.5

Notif 31/2020, 32/2020 – CGST : Rate Of Interest, Late Fees applicable for delayed GSTR 3B Filing

Period of Return Dealers interest Late Fee & Penalty Condition
Feb 2020 to April 2020 Having PAN India turnover above ₹ 5 Crore Lower rate of interest of NIL for first 15 days after the due date of filing return in FORM GSTR-3B and @ 9% thereafter No Late Fee & Penalty Subject to filing of return by 24th June 2020
Feb 2020 to April 2020 Having PAN India turnover of ₹ 1.5 Crore – ₹ 5 Crore NIL No Late Fee & Penalty Subject to filing of return by 29th June 2020 (Taking 1st Date on a Prudent Basis)
Feb 2020 to April 2020 having PAN India turnover of less than ₹ 1.5 Crore NIL No Late Fee & Penalty Subject to filing of return by 30th June 2020 (Taking 1st Date on a Prudent Basis)

Notif 35/2020 – Due Date for All other Compliances Extended

Deemed extension of Waybills to 30th April 2020 for waybills whose validity expires between 20th March 2020 to 15th April 2020

Extended till 30th June 2020:

Any Compliance whose due date falls between 20th day of March, 2020 to the 29th day of June, 2020 and includes

1. filing of any appeal

2. Reply to Any Notice

3. Making Application

4. Furnishing of any report

5. Producing any Document

6. Filing any return

7. Filing any Statement or such other record

8. ISD Return, TDS Returns under GST, TCS Returns under GST

Notif 35/2020 – What Compliances need to Continue

1. E-Waybills need to be made even during Lockdown.

2. Making Tax Invoice (i.e. invoices to be raised even during this period and time of supply provisions shall be in vogue)

3. Detention may happen in Transit even during Lockdown

4. Application for Normal Registration/ Casual Registration/ Non-Resident Registration need to be done even during Lockdown

5. Arrest can be made under GST during this period also

Notif 33/2020 – CGST : GSTR 1 Filing Provisions

No Late Fees for Returns for March, April & May 2020 if Filed before 30th June for all Taxpayers

Notif 30/2020 & 34/2020 – For Composition Dealers

Allows taxpayers opting for the Composition Scheme for the financial year 2020-21 to file their option in FORM CMP-02 till 30th June 2020

Allows cumulative application of the condition in Rule 36(4) for the months of February, 2020 to August, 2020 in the return for tax period of September 2020

Extension of due date of furnishing statement, containing the details of payment of self-assessed tax in FORM GST CMP-08 for the quarter ending 31st March, 2020 till the 7th day of July, 2020

Extension of due date of Filing FORM GSTR-4 for the financial year ending 31st March, 2020 till the 15th day of July, 2020

Relief for TDS, TCS & ISD Return Filers

The said class of taxpayers have been allowed to furnish the respective returns/ Statements specified in Section 39(3), (4), (5) & Sec 52 of the said Act, for the months of March, 2020 to May, 2020 on or before the 30th day of June, 2020

Author Bio

Qualification: LL.B / Advocate
Company: Tax Connect Advisory Services LLP
Location: MUMBAI, Maharashtra, IN
Member Since: 10 Jan 2019 | Total Posts: 27
Mr. Vivek Jalan is a Fellow Member of the Institute Of Chartered Accountants of India (ICAI) & a qualified LL.B. He is the member of The CII- Economic Affairs & Taxation Committee. He is the Co Chairman of The Indirect Tax Committee of The Bengal Chamber of Commerce and Industry. He is also View Full Profile

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November 2020