The Ministry of Finance on 3rd April 2020 released various notifications amending the CGST Act, 2017 and CGST Rules, 2017 respectively providing a sigh of relief amidst the economic crisis caused due to the COVID-19 Pandemic.

Set out below is a brief summarization of the notifications released by the authority on 3rd April, 2020:

1. Amendment sub-rule (3) of Rule 3 Of CGST Rules, 2017:

Any registered person who is opting for payment of tax under Section 10 of the CGST Act, 2017 [Composition Levy] for the Financial Year 2020-21, shall be mandated to file an electronic intimation under FORM GST CMP-02 on the common portal, either directly or through a Facilitation Centre.

Such electronic intimation under FORM GST CMP-02 shall now be completed on or before the 30th day of June, 2020, along with submission of statement in FORM GST ITC-03 [as per sub-rule (4) of rule 44] latest by 31st day of July, 2020.

2. Amendment to Sub-Rule (4) of Rule 36 Of CGST Rules, 2017: 

For the condition as stated in sub-rule (4) of Rule 36 shall apply cumulatively for the period from February to August 2020, along with return filing under FORM GSTR-3B for the tax period September 2020, which shall be duly submitted with the cumulative adjustment of input tax credit for the said months (February to August 2020) being in accordance with the condition stated in sub-rule 4 of Rule 36.

3. Amendment to Section 47 [Levy of Late Fees]: 

By the said amendment, the Government has waived off the amount of late fees payable under Section 47 for the months of March 2020, April 2020 and May 2020, and for the quarter ending 31st March 2020¸ for the registered persons who fail to furnish the details of outward supplies for the above-stated period in FORM GSTR-1 by the given due date.

These details shall now be mandated to be furnished in FORM GSTR-1, on or before 30th day of June, 2020.

4. Amendment Concerning The Filing Of FORM GST CMP-08 And FORM GSTR-4: 

The furnishing of details towards payment of “Self-Assessed Tax” under FORM GST CMP-08 for the quarter ending 31st March 2020 is to be now submitted by 7th day of July, 2020.

Also, the submission of the FORM GSTR-4 for the FY ending 31st March 2020 shall now be submitted till 15th day of July 2020.

5. Amendment Concerning Filing of Form GSTR-3B:

The taxpayers having an aggregate turnover of more than INR 5 Crore in the previous Financial Year, the return under FORM GSTR-3B for the month of May, 2020 could be filed online on or before the 27th day of June 2020.

The notification further stated that:

  • any taxpayer having an aggregate turnover of upto INR 5 Crore in the previous Financial Year, along with the principal place of business in the States of Chhattisgarh, Madhya Pradesh, Gujarat, Maharashtra, Karnataka, Goa, Kerala, Tamil Nadu, Telangana, Andhra Pradesh, the Union territories of Daman and Diu and Dadra and Nagar Haveli, Puducherry, Andaman and Nicobar Islands or Lakshadweep, the said return under FORM GSTR-3B of the said rules for the month of May, 2020 shall be furnished online on or before the 12th day of July 2020;
  • any taxpayer having an aggregate turnover of upto INR 5 Crore in the previous Financial Year, along with the principal place of business in the States of Himachal Pradesh, Punjab, Uttarakhand, Haryana, Rajasthan, Uttar Pradesh, Bihar, Sikkim, Arunachal Pradesh, Nagaland, Manipur, Mizoram, Tripura, Meghalaya, Assam, West Bengal, Jharkhand or Odisha, the Union territories of Jammu and Kashmir, Ladakh, Chandigarh or Delhi, the said return under FORM GSTR-3B of the said rules for the month of May, 2020 shall be furnished online on or before the 14th day of July, 2020.

Conclusion:

Concerning the ongoing Lockdown due to the Covid-19 Pandemic and economic slowdown caused, these amendments and extension of timelines brought in by the Government shall definitely serve as a relief to various business & taxpayers across India.

This shall benefit the concerned persons to effectively complete the necessary statutory filings without payment of any interest/penalty and monetary loss.

Relevant GST Notifications

Title Notification No. Date
CBIC extends due date for furnishing GSTR-3B for May 2020 Month Notification No. 36/2020-Central Tax 03/04/2020
CBIC extends Due date of GST compliance & validity of e-way bills Notification No. 35/2020-Central Tax 03/04/2020
Due date to furnish CMP-08 & GSTR-4 extended for March Quarter Notification No. 34/2020-Central Tax 03/04/2020
Conditional waiver of late fee for delay in furnishing FORM GSTR-1 Notification No. 33/2020-Central Tax 03/04/2020
Conditional waiver of late fee for delay in furnishing FORM GSTR-3B Notification No. 32/2020-Central Tax 03/04/2020
Lower GST interest Rate only on timely filing of FORM GSTR-3B Notification No. 31/2020-Central Tax 03/04/2020
GST Composition Scheme for FY 2020-21 can be opted till 30.06.2020 Notification No. 30/2020-Central Tax 03/04/2020

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