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Breaking: Finance Ministry extends deadline of March, April, May 2020 GST Returns to June 30th, 2020

Interest - GST Return - Taxscan

The Ministry of Finance today extended the deadline of the March, April, May 2020 GST Returns till 3oth June, 2020 due to Corona Virus ( COVID-19) outbreak.

The Finance Minister Nirmala Sitharaman has announced that the date for filing income tax returns for the financial year 2018-19 has been extended till June 30, 2020 from March 31 in the wake of COVID 19 outbreak.

Last date for filing GSTR-3B in March, April and May 2020 will be extended till the last week of 30th June, 2020 for those having the aggregate annual turnover less than Rs. 5 Crore. No interest, late fee, and penalty to be charged.

For any delayed payment made between 20th March 2020 and 30th June 2020 reduced rate of interest @9 % per annum ( current interest rate is 18 % per annum) will be charged. No late fee and penalty to be charged, if complied before till 30th June 2020.

The date for opting for composition scheme is extended till the last week of June, 2020. Further, the last date for making payments for the quarter ending 31st March, 2020 and filing of return for 2019-20 by the composition dealers will be extended till the last week of June, 2020.

The due date for issue of notice, notification, approval order, sanction order, filing of the appeal, furnishing of return, statements, applications, reports, any other documents, the time limit for any compliance under the GST laws where the time limit is expiring between 20th March 2020 to 29th June 2020 shall be extended to 30th June 2020.

The Amnesty Scheme of Sabka Vishwas (Legacy Dispute Resolution) Scheme, 2019 for indirect tax regime has been extended to June 30, 2020 from March 31, 2020. The Finance Minister also said that, there will be no interest under this scheme if payment is done till the extended date.

In a Press Conference conducted by Finance Minister Nirmala Sitharaman also announced relief for imports/exporters.

The Customs clearance now an essential service, till June 30th, 2020 it will be working 24/7.

The due date for issue of notice, notification, approval order, sanction order, filing of the appeal, furnishing applications, reports, any other documents etc., the time limit for any compliance under the Customs Act and other allied Laws where the time limit is expiring between 20th March 2020 to 29th June 2020 shall be extended to 30th June 2020.

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