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COVID-19 - Business Compliance Relief for Income Tax, GST, Custom, Corporate Affairs and Bankruptcy

COVID-19 HAS HIT ALMOST ALL THE SECTORS OF THE ECONOMY. HERE IS A COMPILATION OF SOME RELIEF MEASURES ANNOUNCED BY THE GOVERNMENT FOR BUSINESS COMPLIANCE. CLICK HERE TO DOWNLOAD PDF This compilation is in relation to following matters: 1. INCOME TAX
2. GST, EXCISE AND SERVICE TAX
3. CUSTOMS
4. CORPORATE AFFAIRS
5. INSOLVENCY AND BANKRUPTCY CODE (IBC)

36/2020-Central Tax ,dt. 03-04-2020
Extend due date for FORM GSTR-3B for supply made in May'20

Seeks to extend due date for furnishing FORM GSTR-3B for supply made in the month of May, 2020. Link Below: http://cbic.gov.in/resources//htdocs-cbec/gst/notfctn-36-central-tax-english-2020.pdf

35/2020-Central Tax ,dt. 03-04-2020
Extention of ewaybill validity and other compliances to 30.6.20

Extend due date of compliance which falls during the period from "20.03.2020 to 29.06.2020" till 30.06.2020 and to extend validity of e-way bills. Link Below: http://cbic.gov.in/htdocs-cbec/gst/notfctn-35-central-tax-english-2020.pdf

34/2020-Central Tax ,dt. 03-04-2020
Extend date of FORM GST CMP-08 for Mar'20 quarter till 15.7.20.

Seeks to extend due date of furnishing FORM GST CMP-08 for the quarter ending March, 2020 till 07.07.2020 and filing FORM GSTR-4 for FY 2020-21 till 15.07.2020. “Provided that the said persons shall furnish a statement, containing the details of payment of self-assessed tax in FORM GST CMP-08 of the Central Goods and Services Tax Rules, 2017, for the quarter ending 31st March, 2020, till the 7th day of July, 2020.”; (ii) in the third paragraph, the following proviso shall be inserted, namely: – “Provided that the said persons shall furnish the return in FORM GSTR-4 of the Central Goods and Services Tax Rules, 2017, for the financial year ending 31st March, 2020, till the 15th day of July, 2020.” Link Below: http://cbic.gov.in/resources//htdocs-cbec/gst/notfctn-34-central-tax-english-2020.pdf

33/2020-Central Tax ,dt. 03-04-2020
Conditional waiver of late fee for delay in filing GSTR-1.

Seeks to provide relief by conditional waiver of late fee for delay in furnishing outward statement in FORM GSTR-1 for tax periods of February, 2020 to April, 2020. "Provided also that the amount of late fee payable under section 47 of the said Act shall stand waived for the months of March, 2020, April, 2020 and May, 2020, and for the quarter ending 31st March, 2020, for the registered persons who fail to furnish the details of outward supplies for the said periods in FORM GSTR-1 by the due date, but furnishes the said details in FORM GSTR-1, on or before the 30th day of June, 2020." Link Below: http://cbic.gov.in/resources//htdocs-cbec/gst/notfctn-33-central-tax-english-2020.pdf

32/2020-Central Tax ,dt. 03-04-2020
Waiver of Late fees for delay in GSTR-3B for Feb'20 - Apr'20.

Seeks to provide relief by conditional waiver of late fee for delay in furnishing returns in FORM GSTR-3B for tax periods of February, 2020 to April, 2020. Link Below: http://cbic.gov.in/htdocs-cbec/gst/notfctn-32-central-tax-english-2020.pdf

31/2020-Central Tax ,dt. 03-04-2020
Lowering of interest rate for tax periods of Feb'20 to Apr'20.

Seeks to provide relief by conditional lowering of interest rate for tax periods of February, 2020 to April, 2020. Link Below: http://cbic.gov.in/htdocs-cbec/gst/notfctn-31-central-tax-english-2020.pdf

30/2020-Central Tax ,dt. 03-04-2020
Allow opting for Composition Scheme for FY 20-21 till 30.06.20.

Seeks to amend CGST Rules (Fourth Amendment) in order to allow opting Composition Scheme for FY 2020-21 till 30.06.2020 and to allow cumulative application of condition in rule 36(4). Link Below: http://cbic.gov.in/htdocs-cbec/gst/notfctn-30-central-tax-english-2020.pdf

29/2020-Central Tax ,dt. 23-03-2020
Extension of GSTR-3B due dates for Apr'20 to Sep'20.

Seeks to prescribe return in FORM GSTR-3B of CGST Rules, 2017 along with due dates of furnishing the said form for April, 2020 to September, 2020 Link Below: http://cbic.gov.in/resources//htdocs-cbec/gst/notfctn-29-central-tax-english-2020.pdf

28/2020-Central Tax ,dt. 23-03-2020
Monthly GSTR-1 - Turnover > 1.5cr for Apr'20-Sep'20

Seeks to prescribe the due date for furnishing FORM GSTR-1 by such class of registered persons having aggregate turnover of more than 1.5 crore rupees in the preceding financial year or the current financial year, for each of the months from April,2020 to September, 2020. Link Below: http://cbic.gov.in/htdocs-cbec/gst/notfctn-28-central-tax-english-2020.pdf

27/2020-Central Tax ,dt. 23-03-2020
Quarterly GSTR-1 - Turnover < 1.5cr Apr-Jun'20 & Jul-Sep'20.

Seeks to prescribe the due date for furnishing FORM GSTR-1 for the quarters April, 2020 to June, 2020 and July, 2020 to September, 2020 for registered persons having aggregate turnover of up to 1.5 crore rupees in the preceding financial year or the current financial year. Link Below: http://cbic.gov.in/htdocs-cbec/gst/notfctn-27-central-tax-english-2020.pdf

26/2020-Central Tax ,dt. 23-03-2020
GSTR-3B extension for J&K taxpayers.

Seeks to extend due date for furnishing FORM GSTR-3B of the said rules for the months of July,2019 to September, 2019 for registered persons whose principal place of business is in the erstwhile State of Jammu and Kashmir, shall be furnished electronically through the common portal, on or before the 24th March, 2020 Link Below: http://cbic.gov.in/htdocs-cbec/gst/notfctn-26-central-tax-english-2020.pdf

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