Novel Coronavirus is having great impact on the global economy. Due to which unemployment, crashes in stock market, demand slump, impact of small and medium sized enterprises across the world. The government is taking various measures for the safety of citizens and also issues guidelines to cushion the economy also.

In the view of such a pandemic situation the Finance Minister Nirmala Sitharaman extended the deadline for filing GST returns.

According to the GST circular, list of extended dates are as follows:

  • Due date of filing GST Annual Return in Form GSTR-9 for FY 2018-19 has been extended till 30th June 2020.
  • For GSTR 3B February 2020 return due date has been extended to 7th April 2020.
  • Extension of due date for opting for composition scheme from 31 March 2020 to 7th April 2020.
  • On late filing of GST returns, no late fee, penalty or interest will be charged for companies with turnover of up to Rs 5 crore.
  • For companies with more than Rs 5 crore turnover, no late fee and penalty will be charged on GST return filed by 15 days. A reduced interest rate of 9 per cent will be charged.
  • ‘Sab ka Vishwas’ indirect tax dispute redressal scheme has also been extended to June 30 and no interest on payment made till June 30 will be charged.
  • 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 shall be extended to 30th June 2020.

Customs

  • 24X7 Custom clearance till end of 30th June, 2020.
  • Due date for issue of notice, notification, approval order, sanction order, filing of appeal, furnishing applications, reports, any other documents etc., time limit for any compliance under the Customs Act and other allied Laws where the time limit is expiring between 20th March 2020 to 29th June 2020 shall be extended to 30th June 2020.

COVID-19: Income Tax Filing Due Date Extension

  • Due date of filing return for FY 18-19 extended till 30 June 2020. Interest would be levied @9%p.a.
  • No extension in due date of TDS payments for FY 19-20. Interest would be levied @9%p.a. for payments upto 30 June 20.
  • Aadhar PAN linking extended from 31st March, 2020 to 30th  June 20.
  • Vivad se Vishwas Scheme extended to 30 June 20, without additional payment of 10%.
  • Due dates for all compliances, and furnishing of returns and reports, including investment in 80C, extended to 30 June 20.
  • For delayed payments of advanced tax, self-assessment tax, regular tax, TDS, TCS, equalization levy, STT, CTT made between 20th March 2020 and 30th June 2020, reduced interest rate at 9% instead of 12 %/18 % per annum ( i.e. 0.75% per month instead of 1/1.5 percent per month) will be charged for this period. No late fee/penalty shall be charged for delay relating to this period.