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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.

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