9911796707
TMI BlogClarification in respect of various measures announced by the Government for providing relief to the taxpayers in view of spread of Novel Corona Virus (COVID-19)X X X X Extracts X X X X X X X X Extracts X X X X ..... f to the taxpayers in view of spread of Novel Corona Virus (COVID-19) - Reg. Circular No. 136/06/2020-GST, dated 03.04.2020 was issued by the Board on the subject issue clarifying various issues relating to the measures announced by the Government providing relief to the taxpayers. The GST Council, in its 40th meeting held on 12.06.2020, recommended further relief to the taxpayers and accordingly, following notifications have been issued: S. No. Notification No. Remarks 1. Notification No.51/2020- Central Tax, dated 24.06.2020. Seeks to provide relief to taxpayers by reducing the rate of interest from 18% per annum to 9% per annum for specified period. 2. Notification No.52/2020- Central Tax, dated 24.06.2020. Seeks to provide ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 2020 (para 3, sl. No. 3, 4 and 5). It was clarified that in case the return for the said months are not furnished on or before the date mentioned in the notification No.31/2020- Central Tax, dated 03.04.2020, interest at 18% per annum shall be charged from the due date of return, till the date on which the return is filed. 3.2 The Government, vide notification no 51/2020- Central Tax, dated 24.06.2020 has removed the said condition. Accordingly, a lower rate of interest of NIL for first 15 days after the due date of filing return in FORM GSTR-3B and @ 9% thereafter till 24.06.2020 is notified. After the specified date, normal rate of interest i.e. 18% per annum shall be charged for any further period of delay in furnishing of the returns. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ial year. The notification, thus, provides NIL rate of interest till specified dates and after the specified dates lower rate of 9% would apply till 30th September 2020. After 30th September, 2020, normal rate of interest i.e. 18% per annum shall be charged for any further period of delay in furnishing of the returns. 4.2 The calculation of interest in respect of this class of registered persons for delayed filing of return for the month of March, 2020 (for registered persons for whom the due date of filing was 22.04.2020) and June, 2020 (for registered persons for whom the due date of filing is 22.07.2020) is as illustrated in the Table below: Table S. No. Tax period Applicable rate of interest Date of filing GSTR-3B No. of days of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s conditional to filing the return of the said tax period by the dates specified in the said notification. In case the returns in FORM GSTR-3B for the said months are not furnished on or before the dates specified in the said notification, then late fee shall be payable from the due date of return, till the date on which the return is filed. 6. The contents of the Circular 136/06/20-GST, dated 03.04.2020 are modified to this extent. It is requested that suitable trade notices may be issued to publicize the contents of this circular. 7. Difficulty, if any, in the implementation of the above instructions may please be brought to the notice of the Board. Hindi version would follow. (Yogendra Garg) Principal Commissioner [email protected] ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
