GST Updates

May, 18 2020
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  1. Due to COVID-19 the rate of Interest on GST and Late Fee for filing of 3B for the February, March and April-2020 will be as under:

S. NO.

Class of Registered Person

Rate of Interest

Tax Period

Late Fee

Condition

 

 

 

 

 

 

1.

Having Turnover more than 5 Crores in the Preceding Financial Year

NIL for first 15 days from the due date and 9% thereafter.

Feb-2020

March-2020

April-2020

NIL

If 3B Filed on or before 24-06-2020

2.

Having Turnover more than 1.5 crores and upto 5 Crores in the Preceding Financial Year

NIL

Feb-2020

March-2020

 

NIL

If 3B Filed on or before 29-06-2020

April-2020

NIL

If 3B Filed on or before 30-06-2020

3.

Having Turnover upto 1.5 crores in the Preceding Financial Year

NIL

Feb-2020

 

NIL

If 3B Filed on or before 30-06-2020

March-2020

 

NIL

If 3B Filed on or before 03-07-2020

April-2020

NIL

If 3B Filed on or before 06-07-2020

           

2. The late filing fee for GSTR-1 stand waved for the following months if the if the GSTR-1 is not furnished before due date but filed on or before the date given below:

 

S. NO.

Period

Extended due date

 

 

 

1

March 2020

30.06.2020

2

April 2020

30-06-2020

3

MAY – 2020

30-06-2020

 
   

3. E- way bill validity  extended to 31st May (generated on or before the 24th day of March, 2020 and its period of validity expires during the period 20th day of March, 2020 to the 15th day of April, 2020.

4. Annual return filing date for 2018- 2019 extended to 30th September.

5. Companies can file GST returns 3B without digital signatures also (through EVM)

6. Nil GST returns can be filed through SMS.

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