SUMMARY OF NOTIFICATIONS BY CBIC ON 24th June 2020

i. Waiver / Reduced rate of interest for delayed in filing of GSTR-3B for various months – (Notification No. 51/2020 – Central Tax dated 24th June 2020)

ii. Wavier of Late Fees for delay in filing of GSTR-3B for the returns from Feb 2020 till June 2020 – (Notification No. 52/2020 – Central Tax dated 24th June 2020)

iii. One-time scheme for Non-Fillers of return

iv. The late fees for GSTR-1 stands waived for the following months – (Notification No. 53/2020 – Central Tax dated 24th June 2020)

v. Prescribes the GSTR-3B Due date for the month of August 2020 – (Notification No. 54/2020 – Central Tax dated 24th June 2020)

A. Waiver / Reduced rate of interest for delayed in filing of GSTR-3B for various months

(Notification No. 51/2020 – Central Tax dated 24th June 2020)

S.L (1) Class of registered persons
(2)
Rate of interest
(3)
Tax period
(4)
1. Taxpayers having an aggregate turnover of more than rupees 5 crores in the preceding financial year Nil for first 15 days from the due date, and 9 per cent thereafter till 24 th day of June, 2020 February, 2020, March, 2020, April, 2020
2. Taxpayers having an aggregate turnover of up to rupees 5 crores in the preceding financial year, whose principal place of business is in the States of Chhattisgarh, Madhya Pradesh, Gujarat, Maharashtra, Karnataka, Goa, Kerala, Tamil Nadu, Telangana or Andhra Pradesh or the Union territories of Daman and Diu and Dadra and Nagar Haveli, Puducherry, Andaman and Nicobar Islands and Lakshadweep Nil till the 30th day of June, 2020, and 9 per cent thereafter till the 30th day of September, 2020 February,2020
Nil till the 3rd day of July, 2020, and 9 per cent thereafter till the 30th day of September, 2020 March, 2020
Nil till the 6th day of July, 2020, and 9 per cent thereafter till the 30th day of September, 2020 April, 2020
Nil till the 12th day of September, 2020, and 9 per cent thereafter till the 30th day of September, 2020 May, 2020
Nil till the 23rd day of
September, 2020, and 9 per cent thereafter till the 30th day of
June, 2020
September 2020 Nil till the 27 th day of September, 2020, and 9 per cent thereafter till the 30th day of September, 2020 July, 2020
3. Taxpayers having an aggregate turnover of up to rupees 5 crores in the preceding financial year, whose principal place of business is 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 or the Union territories of Jammu and Kashmir, Ladakh, Chandigarh and Delhi Nil till the 30th day of June, 2020, and 9 per cent thereafter till the 30th day of September, 2020 February, 2020
Nil till the 5 th day of July, 2020, and 9 per cent thereafter till the 30 th day of September, 2020 March, 2020
Nil till the 9th day of July, 2020, and 9 per cent thereafter till the 30th day of September, 2020 April, 2020
Nil till the 15th day of September, 2020, and 9 per cent thereafter till the 30th day of September, 2020 May, 2020
Nil till the 25th day of September, 2020, and 9 per cent thereafter till the 30th day of September, 2020 June, 2020

 

Nil till the 29th day of September, 2020, and 9 per cent thereafter till the 30th day of September, 2020 July, 2020.

B. Wavier of Late Fees for delay in filing of GSTR-3B for the returns from Feb 2020 till June 2020

(Notification No. 52/2020 – Central Tax dated 24th June 2020)

SL (1) Class of registered persons (2) Tax period (3) Condition (4)
1. Taxpayers having an aggregate turnover of more than
rupees 5 crores in the preceding financial year
February, 2020, March, 2020 and April, 2020 If return in FORM GSTR-3B is furnished on or before the 24th day of June, 2020
2. Taxpayers having an aggregate turnover of up to rupees 5 crores in the preceding financial year, whose principal place of business is in the February, 2020 If return in FORM GSTR-3B is furnished on or before the 30th day of June, 2020
States of Chhattisgarh, Madhya Pradesh, Gujarat,

Maharashtra, Karnataka, Goa, Kerala, Tamil Nadu, Telangana or Andhra Pradesh or the Union territories of Daman and Diu and Dadra and Nagar Haveli, Puducherry, Andaman and Nicobar Islands and Lakshadweep

March, 2020 If return in FORM GSTR-3B is furnished on or before the 3 rd day of July, 2020
April, 2020 If return in FORM GSTR-3B is furnished on or before the 6th day of July, 2020
May, 2020 If return in FORM GSTR-3B is furnished on or before the 12th day of September, 2020
June, 2020 If return in FORM GSTR-3B is furnished on or before the 23rd day of September, 2020
July, 2020 If return in FORM GSTR-3B is furnished on or before the 27th day of September, 2020
3. Taxpayers having an aggregate turnover of up to rupees 5 crores in the preceding financial year, whose principal place of business is in the States of Himachal Pradesh, Punjab,

Uttarakhand, Haryana, Rajasthan, Uttar Pradesh, Bihar, Sikkim, Arunachal Pradesh, Nagaland, Manipur, Mizoram, Tripura, Meghalaya, Assam, West

February, 2020 If return in FORM GSTR-3B is furnished on or before the 30th day of June, 2020
March, 2020 If return in FORM GSTR-3B is furnished on or before the 5th day of July, 2020
April, 2020 If return in FORM GSTR-
3B is furnished on
Bengal, Jharkhand or Odisha or the Union territories of Jammu and Kashmir, Ladakh, Chandigarh and Delhi or before the 9th day of July, 2020
May, 2020 If return in FORM GSTR-3B is furnished on or before the 15th day of September, 2020
June, 2020 If return in FORM GSTR-3B is furnished on or before the 25th day of September, 2020
July, 2020 If return in FORM GSTR-3B is furnished on or before the 29th day of September, 2020

C. One-time scheme for Non-Fillers of return

Late fee has been waived or reduced for those registered persons who have failed to furnish GSTR-3B for the period July, 2017 to January, 2020, by the due date subject to provision that GSTR-3B has been furnished between 1st July, 2020 to 30th September, 2020.

For Nil Tax Liability There will be no Late Fees
For registered persons having tax liability There will be a Max. late fees levied of Rs.250/- (under
CGST & SGST) i.e. Rs 500/-

D. The late fees for GSTR-1 stands waived for the following months

(Notification No. 53/2020 – Central Tax dated 24th June 2020)

Sl. No.
(1)
Month/ Quarter (2) Dates(3)
1. March, 2020 10th day of July, 2020
2. April, 2020 24th day of July, 2020
3. May, 2020 28th day of July, 2020
4. June, 2020 05th day of August, 2020
5. January to March, 2020 17th day of July, 2020
6. April to June, 2020 03rd day of August, 2020

E. Prescribes the GSTR-3B Due date for the month of August 2020

(Notification No. 54/2020 – Central Tax dated 24th June 2020)

SL (1) Class of registered persons (2) Tax period (3) Condition (4)
1 Taxpayers having an aggregate turnover of more than rupees 5 crores in the preceding financial year August, 2020, If return in FORM GSTR-3B is furnished on or before the 20th Sept 2020
2 Taxpayers having an aggregate turnover of up to rupees 5 crores in the preceding financial year, whose principal place of business is in the States of Chhattisgarh, Madhya Pradesh, Gujarat, Maharashtra, Karnataka, Goa, Kerala, Tamil Nadu, Telangana or Andhra Pradesh or the Union territories of Daman and Diu and Dadra and Nagar Haveli, Puducherry, Andaman and Nicobar Islands and Lakshadweep August, 2020, If return in FORM GSTR-3B is furnished on or before the 01st Oct 2020
3 Taxpayers having an aggregate turnover of up to rupees 5 crores in the preceding financial year, whose principal place of business is 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 or the Union territories of Jammu and Kashmir, Ladakh, Chandigarh and Delhi August, 2020, If return in FORM GSTR-3B is furnished on or before the 3rd Oct, 2020

Source- https://icmai.in/upload/Taxation/CBIC_24th_June_2020.pdf

More Under Goods and Services Tax

Leave a Comment

Your email address will not be published. Required fields are marked *

Search Posts by Date

October 2020
M T W T F S S
 1234
567891011
12131415161718
19202122232425
262728293031