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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 ..... ST Council, in its 40th meeting held on June 12, 2020, recommended further relief to the taxpayers and accordingly, following notifications have been issued : Sl. No. Notification No. Remarks 1. Notification No. 57/GST-2, dated July 21, 2020. Seeks to provide relief to taxpayers by reducing the rate of interest from 18 per cent. per annum to nine per cent. per annum for specified period. 2. Notification No. 58/GST-2, dated July 21, 2020. Seeks to provide relief to taxpayers by conditional waiver of late fee for delay in furnishing Form GSTR-3B for specified period. 3. Notification No. 59/GST-2, dated July 21, 2020. Seeks to provide relief to taxpayers by conditional waiver of late fee for delay in furnishing Form GSTR-1 for specified period ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... l the date on which the return is filed. 3.2 The Government, vide Notification No. 57/GST-2, dated July 21, 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 at nine per cent. thereafter till June 24, 2020 is notified.After the specified date, normal rate of interest, i.e., 18 per cent. per annum shall be charged for any further period of delay in furnishing of the returns. 3.3 The calculation of interest in respect of this class of registered persons for delayed filing of return for the month of March, 2020 (due date of filing being April 20, 2020) is as illustrated in the Table below : TABLE Sl. No. Date of filing GSTR-3B No. of days ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... , i.e., 18 per cent. 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 April 22, 2020) and June, 2020 (for registered persons for whom the due date of filing is July 22, 2020) is as illustrated in the Table below : TABLE Sl. No. Tax period Applicable rate of interest Date of filing GSTR-3B No. of days of delay Interest 1 22.06.2020 61 Zero interest 2 March, 2020 Nil till the 3rd day of July, 2020, and 9 per cent thereafter till the 30th day of September, 2020 22.09.2020 153 Zero interest for 72 days, thereaft ..... X X X X Extracts X X X X X X X X Extracts X X X X
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