More relief for GST taxpayers over corona fever
As we stated earlier , the government has extended the filing of Return for the month of March, April and May 2020 and composition returns under GST 30th June 2020 along with specific regions have dates like 27, 29 or 30th June 2020.
Now , the finance minister also stated that the companies which have less than ₹5 crore turnover will not have to pay interest, late fee or penalty. For bigger companies, late fee and penalty will not apply and only interest at a reduced rate of 9% will be charged. Also , the date for opting for composition scheme has also been extended to 30th June 2020.
The Government has also decided that the due date for issue of notice, notification, approval order, sanction order, filing of appeal, furnishing of return, statements, applications, reports, any other documents, time limit for any compliance under the GST laws where the time limit is expiring between 20th March 2020 to 29th June 2020, will be extended to 30th June 2020.