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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
25/2020-Central Tax ,dt. 23-03-2020
GSTR-3B extension for J&K Taxpayers for Oct'19 to Feb'20
Seeks to extend due date for furnishing FORM GSTR-3B for the months of October, 2019 , November, 2019 to February, 2020 for registered persons whose principal place of business is in the erstwhile State of Jammu and Kashmir on or before the 24th March, 2020. Link Below: http://cbic.gov.in/htdocs-cbec/gst/notfctn-25-central-tax-english-2020.pdf
22/2020-Central Tax ,dt. 23-03-2020
GSTR-1 ext. for J&K taxpayers with turnover more than 1.5 cr.
Seeks to extend due date for furnishing FORM GSTR-1 for registered persons whose principal place of business is in the erstwhile State of Jammu and Kashmir, and having aggregate turnover of more than 1.5 crore rupees in the preceding financial year or current financial year, for the month of October, 2019 and November, 2019 to February till 24th March, 2020. Link Below: http://cbic.gov.in/htdocs-cbec/gst/notfctn-22-central-tax-english-2020.pdf
24/2020-Central Tax ,dt. 23-03-2020
extend due date for GSTR-1 for Quarterly taxpayers of J&K.
Seeks to extend due date for furnishing FORM GSTR-1 for registered persons whose principal place of business is in the erstwhile State of Jammu and Kashmir, for the quarter July-September, 2019 till 24th March,2020. Link Below: http://cbic.gov.in/htdocs-cbec/gst/notfctn-24-central-tax-english-2020.pdf
23/2020-Central Tax ,dt. 23-03-2020
GSTR-1 for taxpayers in J&K for Jul'19 to Mar'20
Seeks to extend due date for furnishing FORM GSTR-1 for registered persons whose principal place of business is in the erstwhile State of Jammu and Kashmir, by such class of registered persons having aggregate turnover of more than 1.5 crore rupees in the preceding financial year or current financial year, for each of the months from July, 2019 to September, 2019 till 24th March, 2020. Link Below: http://cbic.gov.in/htdocs-cbec/gst/notfctn-23-central-tax-english-2020.pdf
21/2020-Central Tax ,dt. 23-03-2020
GSTR-1 for taypayers in J&K and Ladakh
Seeks to extend due date for furnishing FORM GSTR-1 for registered persons whose principal place of business is in the erstwhile State of Jammu and Kashmir or the Union territory of Jammu and Kashmir or the Union territory of Ladakh for the quarter October-December, 2019 till 24th March, 2020 Link Below: http://cbic.gov.in/htdocs-cbec/gst/notfctn-21-central-tax-english-2020.pdf
20/2020-Central Tax ,dt. 23-03-2020
GSTR-7 for business in J&K for July2019 to Feb 2020
Seeks to extend due date for furnishing FORM GSTR-7 for those taxpayers whose principal place of business is in the erstwhile State of Jammu and Kashmir for the July, 2019 to October,2019 and November, 2019 to February, 2020 . Link Below:
http://cbic.gov.in/htdocs-cbec/gst/notfctn-20-central-tax-english-2020.pdf
19/2020-Central Tax ,dt. 23-03-2020
other than individuals for adhaar authentication
Seeks to specify class of persons, other than individuals who shall undergo authentication, of Aadhaar number in order to be eligible for registration. Link Below: http://cbic.gov.in/htdocs-cbec/gst/notfctn-19-central-tax-english-2020.pdf
18/2020-Central Tax ,dt. 23-03-2020
Date from which an individual shall undergo authentication
Seeks to notify the date from which an individual shall undergo authentication, of Aadhaar number in order to be eligible for registration. Link Below: http://cbic.gov.in/htdocs-cbec/gst/notfctn-18-central-tax-english-2020.pdf
17/2020-Central Tax ,dt. 23-03-2020
Class of persons exempted from aadhar authentification.
Seeks to specify the class of persons who shall be exempted from aadhar authentication.
Link Below: http://cbic.gov.in/htdocs-cbec/gst/notfctn-17-central-tax-english-2020.pdf
16/2020-Central Tax ,dt. 23-03-2020
Seeks to make third amendment (2020) to CGST Rules.
Seeks to make third amendment (2020) to CGST Rules. Link Below: http://cbic.gov.in/htdocs-cbec/gst/notfctn-16-central-tax-english-2020.pdf
15/2020-Central Tax ,dt. 23-03-2020
Extend time limit for filing GSTR-9 and GSTR-9C to 30.06.2020
Seeks to extend the time limit for furnishing of the annual return specified under section 44 of CGST Act, 2017 for the financial year 2018-2019 till 30.06.2020. Link Below: http://cbic.gov.in/htdocs-cbec/gst/notfctn-15-central-tax-english-2020.pdf
14/2020-Central Tax ,dt. 23-03-2020
Date of extension of QR code implementation to 01.10.2020.
Seeks to exempt certain class of registered persons capturing dynamic QR code and the date for implementation of QR Code to be extended to 01.10.2020 Link Below: http://cbic.gov.in/resources//htdocs-cbec/gst/notfctn-14-central-tax-english-2020.pdf
13/2020-Central Tax ,dt. 23-03-2020
Exempt e-invoice for certain registered persons until 01.10.20
Seeks to exempt certain class of registered persons from issuing e-invoices and the date for implementation of e-invoicing extended to 01.10.2020 Link Below: http://cbic.gov.in/htdocs-cbec/gst/notfctn-13-central-tax-english-2020.pdf
12/2020-Central Tax ,dt. 23-03-2020
Waiver of GSTR-1 for taxpayers who could'nt opt for composition
Seeks to waive off the requirement for furnishing FORM GSTR-1 for 2019-20 for taxpayers who could not opt for availing the option of special composition scheme under notification No. 2/2019-Central Tax (Rate) Link Below: http://cbic.gov.in/htdocs-cbec/gst/notfctn-12-central-tax-english-2020.pdf
11/2020-Central Tax ,dt. 23-03-2020
corporate debtors undergoing the corporate insolvency
Seeks to provide special procedure for corporate debtors undergoing the corporate insolvency resolution process under the Insolvency and Bankruptcy Code, 2016 Link Below: http://cbic.gov.in/htdocs-cbec/gst/notfctn-11-central-tax-english-2020.pdf
10/2020-Central Tax ,dt. 23-03-2020
For taxpayers in Dadra and Nagar Haveli and Daman and Diu.
Seeks to provide special procedure for taxpayers in Dadra and Nagar Haveli and Daman and Diu consequent to merger of the two UTs Link Below: http://cbic.gov.in/htdocs-cbec/gst/notfctn-10-central-tax-english-2020.pdf
09/2020-Central Tax ,dt. 16-03-2020
Exempt foreign airlines from furnishing GSTR-9C
Seeks to exempt foreign airlines from furnishing reconciliation Statement in FORM GSTR-9C. Link Below: http://cbic.gov.in/htdocs-cbec/gst/notfctn-09-central-tax-english-2020.pdf
08/2020-Central Tax ,dt. 02-03-2020
Amend the CGST Rules, 2017 to prescribe the value of Lottery
seeks to "Amend the CGST Rules, 2017 to prescribe the value of Lottery" Link Below: http://cbic.gov.in/htdocs-cbec/gst/notfctn-08-central-tax-english-2020.pdf
07/2020-Central Tax ,dt. 03-02-2020
Due dates for filing of return in GSTR-3B in a staggered manner.
Notification issued to prescribe due dates for filing of return in FORM GSTR-3B in a staggered manner.
Link Below: http://cbic.gov.in/htdocs-cbec/gst/notfctn-07-central-tax-english-2020.pdf
06/2020-Central Tax ,dt. 03-02-2020
Extension of the last date of filing GSTR-9 and GSTR-9C
Seeks to extend the last date for furnishing of annual return/reconciliation statement in FORM GSTR-9/FORM GSTR-9C for the period from 01.07.2017 to 31.03.2018.
Link Below: http://cbic.gov.in/htdocs-cbec/gst/notfctn-06-central-tax-english-2020.pdf
05/2020-Central Tax ,dt. 13-01-2020
Seeks to appoint Revisional Authority under CGST Act, 2017.
Seeks to appoint the Revisional Authority under CGST Act, 2017. http://cbic.gov.in/htdocs-cbec/gst/notfctn-05-central-tax-english-2020.pdf
03/2020-Central Tax ,dt. 01-01-2020
Transition plan for the UTs of J&K and Ladakh
Seeks to amend the notification No. 62/2019-CT dt. 26.11.2019 to amend the transition plan for the UTs of J&K and Ladakh Notification Link: http://cbic.gov.in/htdocs-cbec/gst/notfctn-03-central-tax-english-2020.pdf