The spread of Novel Corona Virus (COVID-19) across many countries of the world, including India, has caused immense loss to the lives of people and resultantly impacted the trade and industry.

In view of the emergent situation and challenges faced by taxpayers in meeting the compliance requirements under various provisions of the GST Law, Government has announced various relief measures relating to statutory and regulatory compliance matters across sectors.

Here we have summed up relaxation provided by government for GSTR-3B, GSTR-1 & GSTR-7 for the period Feb 20 to May 20 falling in June 20 in the below table:

Particulars Tax Period Specified date Interest Rate Late Fee Relevant Notification No.
Return T/O in PY
GSTR-3B more than 5 Cr. Feb-20 -First 15 days
&
-thereafter upto 24-Jun-20

Nil

9%

Waived off Notification No. 31 & 32/2020 – Central Tax
Mar-20
Apr-20
May-20 27-Jun-20 Nil Waived off Notification No. 36/2020 – Central Tax

more than 1.5
upto 5 Cr.
Feb-20 29-Jun-20 Nil Waived off Notification No. 31 & 32/2020 – Central Tax
Mar-20
Apr-20 30-Jun-20 Nil Waived off
*May-20 12-Jul-20 &

14-Jul-20

Nil Waived off Notification No. 36/2020 – Central Tax
upto 1.5 Cr. Feb-20 30-Jun-20 Nil Waived off Notification No. 31 & 32/2020 – Central Tax
Mar-20 03-Jul-20
Apr-20 06-Jul-20
*May-20 12-Jul-20 &

14-Jul-20

Nil Waived off Notification No. 36/2020 – Central Tax
GSTR-1 Mar/Apr/May 30-Jun-20 Waived off Notification No. 33/2020 – Central Tax
GSTR-7 Mar/Apr/May 30-Jun-20 Nil Waived off Notification No. 35/2020 – Central Tax

*Segregated by states as specified in the notification

I hope you all like my article. For any clarification mail me at ca.reetikajain@gmail.com please share your valuable comments and feedback.

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