GSTNews, Views and Updates
40th GST Council Meeting dated 12.06.2020 – Recommendations
editor: www.gstgyan.co.in
Relaxations recommended in GST Council Meeting dated 12.06.2020 for filing of GSTR Returns:
a. Relaxation for July, 2017 to Jan., 2020 GSTR-3B Return
| Period | Late Fee | Condition | ||
| Form GSTR-3B | July, 2017 to Jan., 2020 | NIL
if no tax liability |
Maximum Rs. 500 per return in case of liability | Form GSTR-3B furnished between 1.07.2020 to 30.09.2020. |
b. As per the earlier Notification No. 31/2020, the following specified dates were notified to file GSTR 3B for small taxpayers. Now relaxation has been provided to small taxpayers by reducing the rate of interest to 9% from 18% for filing GSTR-3B for the period Feb., 2020 to April, 2020 beyond specified dates, if filing is done till 30.09.2020.
| Sr. No. | Taxpayer on the basis of | Rate of interest | Tax Period | Specified dates for filing of GSTR-3B (Condition ) |
| 1 | Turnover 1.5 Cr.-5C. | NIL | Feb., 2020, March, 2020 | On or before 29th day of June, 2020 |
| April, 2020 | On or before 30th day of June, 2020 | |||
| 2 | Turnover < 1.5Cr | NIL | Feb, 2020 | On or before 30th day of June, 2020 |
| March, 2020 | On or before 3rd day of July, 2020 | |||
| April, 2020 | On or before 6th day of July, 2020 |
c. Relaxation for taxpayers having aggregate turnover up to Rs. 5 Crore by waiver of late fee and Interest if the GSTR-3B for the period May, 2020 to July, 2020 are furnished by Sep., 2020 (dates to be notified).
d. One time Extension in period for seeking revocation of cancellation of registration – To facilitate tax payers who could not file their cancelled GST Registration resorted in time , an opportunity is being provided for filing of application of revocation of cancellation registration up to 30.09.2020 in all cases where registration have been cancelled till 12.06.2020.
