GST related announcements by Finance Minister on 24.03.2020 in view of COVID-19 outbreak:

Composition Scheme

Date for opting for composition scheme is extended till the last week of   June, 2020.  Further, the last date for making payments for the quarter ending 31st March, 2020 and filing of return for 2019-20 by the composition dealers will be extended till the last week of June, 2020.

General Extension

Time limit for any compliance under the GST laws where the time limit is expiring between 20th March 2020 to 29th June 2020 shall be extended to 30th June 2020.

Date for filing GST annual returns of FY 18-19

Date for filing GST annual returns of FY 18-19, which is due on 31st March, 2020 is extended till the last week of June 2020.

GSTR 3B filing due date
Turnover 5 Crore and above

  • No Extension
  • Reduced rate of interest @9 % per annum from  15 days after due date
February’20 4th April 2020 Filing after this date shall attract interest @ 9% till 30th June 2020.

After that 18% with late fee & Penalty

March’20 5th May 2020
April’20 4th June 2020
Turnover less than 5 Crore February’20 Last week of June 20 without Interest, Late fee and Penalty
March’20
April’20

Necessary legal circulars and legislative amendments to give effect to the aforesaid GST relief shall follow with the approval of GST Council.

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