Summary of GST Notification issued by CBIC on 24.06.2020 – Revised Compliance Date GSTR 1 And GSTR 3B
CBIC has issued various notifications on 24/06/2020 to give effect to the recommendations of the 40th GST Council Meeting which are as follows:
*Notification No. 49/2020 –Central Tax:* To bring into effect certain provisions of the Finance Act, 2020
*Notification No. 50/2020 – Central Tax:* Notifying rates of GST for Composition Taxable Persons under Rule 7 of CGST Rules
*Notification No. 51/2020 – Central Tax:* Conditional waiver of interest in excess of 9% p.a for registered persons having aggregate turnover upto 5 crores for GSTR 3B for the months of February to July 2020 if filed by specified dates
*Notification No. 52/2020 – Central Tax:* Conditional waiver of late fees for registered persons having aggregate turnover upto 5 crores for GSTR 3B for the months of February to July 2020 if filed by specified dates
A) Waiver of late fees which is in excess of an amount of two hundred and fifty rupees for the registered person who failed to furnish the return in FORM GSTR 3B for the months of July, 2017 to January, 2020, by the due date but furnishes the said return between the period from 01st day of July, 2020 to 30th day of September, 2020
B) Also, waiver of late fees for the registered person who failed to furnish the return in FORM GSTR-3B for the months of July, 2017 to January, 2020, by the due date but furnishes the said return between the period from 01st day of July, 2020 to 30th day of September, 2020 where total amount of central tax payable in said return is nil.
*Notification No. 53/2020 – Central Tax:* Conditional waiver of late fees for all registered persons for GSTR 1 for the months/quarters ending March to June 2020 if filed by specified dates
*Notification No. 54/2020 – Central Tax:* Extension of due date for filing of GSTR 3B for the month of Aug 2020 to 1st/3rd Oct, 2020
Rates Notified for Compostion Tax w.e.f 01.04.2020 Notification 50/2020 CT
In the Central Goods and Services Tax Rules, 2017, in rule 7, for the Table, the following Table shall be substituted, namely:-
| Sl No | Section under which composition levy is opted | Category of registered person | Rate of Tax |
| (1) | (1A) | (2) | (3) |
| 1 | Sub-sections (1) and (2) of section 10 | Manufacturers, other than manufacturers of such goods as may be notified by the Government | half per cent. of the turnover in the State or Union territory |
| 2 | Sub-sections (1) and (2) of section 10 | Suppliers making supplies referred to in two and a half per clause (b) of cent. of the paragraph 6 of turnover in the State Schedule II or Union territory | |
| 3 | Sub-sections (1) and (2) of section 10 | Any other supplier eligible for composition levy under sub-sections (1) and (2) of section 10 | half per cent. of the turnover of taxable supplies of goods and services in the State or Union territory |
| 4 | Sub-section (2A) of section 10 | Registered persons not eligible under the composition levy under sub-sections (1) and (2), but eligible to opt to pay tax under sub-section (2A), of section 10 | three per cent. of the turnover of taxable supplies of goods and services in the State or Union territory.’’. |
GST 3B Compliance
Turnover |
Tax Period |
Original Due Date |
Compliance Date |
Late fee |
No Interest if paid within 15 days of original due date |
9% Interest – after 15 days till Compliance date |
18% Interest from compliance Date |
More than 5 crore |
Feb-20 |
20.03.2020 |
24.06.2020 |
NIL |
04.04.2020 |
05.04.2020 |
24.06.2020 |
March |
20.04.2020 |
24.06.2020 |
NIL |
05.05.2020 |
06.05.2020 |
24.06.2020 |
|
2020 |
– |
– |
NIL |
– |
– |
24.06.2020 |
|
Apr-20 |
20.05.2020 |
24.06.2020 |
NIL |
04.06.2020 |
05.06.2020 |
24.06.2020 |
|
May-20 |
20.06.2020 |
20.07.2020 |
NIL |
NA |
NA |
28.06.2020 |
|
Jun-20 |
20.07.2020 |
20.07.2020 |
NIL |
NA |
NA |
21.07.2020 |
|
Jul-20 |
20.08.2020 |
20.08.2020 |
NIL |
NA |
NA |
21.08.2020 |
|
Aug-20 |
20.09.2020 |
20.09.2020 |
NIL |
NA |
NA |
21.09.2020 |
Notification 51/2020, 52/2020, 54/2020 – Central Tax dated 24.06.2020 and Notification 36/2020 dated 03.04.2020
GST 3B Compliance
Turnover |
Tax Period |
Original Due Date |
Compliance Date |
Interest |
|||
Grp 1 |
Grp 2 |
Grp 1 |
Grp 2 |
Grp 1 |
Grp 2 |
||
Upto 5 Crore |
Feb-20 |
22.03.2020 |
24.03.2020 |
30.06.2020 |
30.06.2020 |
Nil till 30.06.20209% till 30.09.2020 |
Nil till 30.06.20209% till 30.09.2020 |
Mar-20 |
22.04.2020 |
24.04.2020 |
03.07.2020 |
05.07.2020 |
Nil till 03.07.20209% till 30.09.2020 |
Nil till 05.07.20209% till 30.09.2020 |
|
Apr-20 |
22.05.2020 |
24.05.2020 |
06.07.2020 |
09.07.2020 |
Nil till 06.07.20209% till 30.09.2020 |
Nil till 09.07.20209% till 30.09.2020 |
|
May-20 |
22.06.2020 |
24.06.2020 |
12.09.2020 |
15.09.2020 |
Nil till 12.09.20209% till 30.09.2020 |
Nil till 15.09.20209% till 30.09.2020 |
|
Jun-20 |
22.07.2020 |
24.07.2020 |
23.09.2020 |
25.09.2020 |
Nil till 23.09.20209% till 30.09.2020 |
Nil till 25.09.20209% till 30.09.2020 |
|
Jul-20 |
22.08.2020 |
24.08.2020 |
27.09.2020 |
29.09.2020 |
Nil till 27.09.20209% till 30.09.2020 |
Nil till 29.09.20209% till 30.09.2020 |
|
Aug-20 |
22.09.2020 |
24.09.2020 |
1.10.2020 |
3.10.2020 |
Nil till 1.10.202018% thereafter |
Nil till 3.10.202018% thereafter |
|
Notification 51/2020, 52/2020, 54/2020 – Central Tax dated 24.06.2020
Grp 1: Chattishgarh, Madhya pradesh, Gujarat, Maharashtra, Karnataka, Goa, Kerala, Tamil Nadu, Telegana, Daman Diu, Andhra Pradesh, Dadar & Nagar Haveli, Puduchery, Anadaman Nicobar Island, Lakshadweep
Grp 2: Himachal Pradesh, Punjab, Haryana, Uttarakhand, Rajasthan, Uttar Pradesh, Bihar, Sikkim, Arunachal Pradesh, Nagaland, Manipur, Mizoram, Tripura, Meghalaya, Assam, West Bengal, Jharkhand, Orissa, Jammu & Kashmir, Ladakh Chandigarh Delhi
Author Bio
