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The GST Council met for the 40th time on 12th of June, 2020 through video conference. The Council made certain key recommendations on GST Law and procedures. The recommendations were mainly aimed at trade facilitation and to give relief to small taxpayers. Summary of the recommendations are given below:

1. Reduction in late fees for past FORM GSTR-3B Returns:

Reduction / waiver of Late fee for non-furnishing FORM GSTR-3B for the tax period from July, 2017 to January, 2020 is recommended as under –

  • In case of NIL Tax Liability – No late fees
  • In case of any tax liability – Maximum Rs 500 per return

Note – this reduction/ waiver is available if all the pending GSTR 3B returns are furnished between 1st July, 2020 to 30th September, 2020.

2. Relief of late fees and Interest for late filing of GST returns for the period Feb 20 to July 20 for aggregate turnover upto Rs 5 crores– 

Month Turnover upto 1.5 Crores Turnover more than 1.5 Crores and upto Rs 5 Crores
No Interest 9% Interest No Interest 9% Interest
Feb 20 30th June 30th September 29th June 30th September
Mar 20 3rd July 29th June
Apr 20 6th July 30th June
May 20 12th/14th July September, 2020 (Dates to be notified) 12th/14th July September, 2020 (Dates to be notified)
Jun & Jul 20

3. Grant of one time extension in period for seeking revocation of cancellation of GST registration

GST Council recommended an opportunity for filing application for revocation of cancellation by 30th September, 20 for taxpayers who could not get their cancelled GST registrations restored in time. It shall cover all cases where registrations have been cancelled till 12.06.2020

Link to access the Press release –  Recommendations of 40th GST council related to Law & Procedure

Disclaimer: The content of this document is for general information purpose only. TaxMarvel shall not accept any liability for decision taken based on the advice. You should carefully study the situation before taking any decision.

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Rohit is an Enterpreneur and has founded a boutique consulting firm - TaxMarvel Consulting Services LLP. View Full Profile

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One Comment

  1. Hitesh Manjibhai Sorathia says:

    Due dates changes give first of all and it will be commen man relief point and simply ans speedy available gor gst now because every day some thing is going to change

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