CBIC has issued one GST Instruction, Two IGST Notifications, 6 CGST Notifications and one UTGST Notification on 24th June 2020. Notifications are for notifying relaxation in GST Interest Rate & Late Fees with respect to Form GSTR 3B, For notifying Waiver of Late Fees for GSTR 1, Notification of Due dates of GSTR 3B, Amendment in Tax Rate for GST Composition Scheme, For Notifying date of Applicability of Some of the amendments in GST Law which were carried out by Finance Act, 2020 and for prescribing Foirm DRC-03 for Payment of GST by real estate promoter/developer supplying construction of residential apartment etc, on the shortfall value of inward supplies from registered supplier at the end of the financial year.

Links and Details of 9 GST Notification & one GST Instruction issued by CBIC on 24.06.2020

S. No. Title Notification No. Date
1. GST Payment by Builders- Form DRC-03 for Shortfall from 80% Instruction No. 3/2/2020- GST 24/06/2020
2. CBIC reduces interest rate for tax periods from Feb to July 2020 Notification No. 05/2020 –Integrated Tax/G.S.R. 410(E). 24/06/2020
3. Amendment to section 25 of IGST Act, 2017 notified wef 30.06.2020 Notification No. 04/2020 –Integrated Tax/G.S.R. 409(E). 24/06/2020
4. GST interest rate for tax periods from February 2020 to July 2020 Notification No. 02/2020–Union Territory Tax/G.S.R. 408(E) 24/06/2020
5. GSTR-3B due date- August 2020- Annual turnover up to Rs. 5 crore Notification No. 54/2020-Central Tax/G.S.R. 407(E) 24/06/2020
6. Waiver of late fee for delay in filing GSTR-1- March to June 2020 Notification No. 53/2020-Central Tax/G.S.R. 406(E) 24/06/2020
7. CBIC notifies one time amnesty for non furnishing of GSTR-3B Notification No. 52/2020-Central Tax/G.S.R. 405(E) 24/06/2020
8. Interest rate (Feb to July 2020) for delayed filing/payment of GSTR 3B Notification No. 51/2020-Central Tax/G.S.R. 404(E) 24/06/2020
9. CBIC amends GST Rates under GST Composition Scheme Notification No. 50/2020-Central Tax/G.S.R. 403(E) 24/06/2020
10. CBIC notifies 4 GST Amendment of Finance Act 2020 w.e.f. 30.06.2020 Notification No. 49/2020-Central Tax/G.S.R. 402(E) 24/06/2020

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April 2021