CBIC provides 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

Apr 06, 2020 | by Avantis RegTech Legal Research Team


Finance & Taxation Compliance

The Central Board of Indirect Taxes and Customs (CBIC) on April 03, 2020, provides 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.

For relief, CBIC inserts proviso after the second proviso of the Notification No. 76/2018– Central Tax, dated December 31, 2018, which specifies the late fee payable for delayed filing of FORM GSTR-3B and fully waive the amount of late fees leviable on account of delayed furnishing of FORM GSTR-3B in specified cases, namely:

Provided also that the amount of late fee payable shall stand waived for the tax period February to April 2020, for the class of registered persons, who fail to furnish the returns in FORM GSTR-3B by the due date, but furnishes the said return according to the condition mentioned in the corresponding entry in column (4) of the said Table, namely:

S. No.

(1)

Class of registered persons

(2)

Tax period

(4)

Condition

(5)

1

Taxpayers having an aggregate turnover of more than rupees 5 crores in the preceding financial year

February, 2020, March 2020, April, 2020

If return in FORM GSTR-3B is furnished on or before June 24, 2020.

2

Taxpayers having an aggregate turnover of more than rupees 1.5 crores and up to rupees five crores in the preceding financial year

February, 2020, March, 2020

If return in FORM GSTR-3B is furnished on or before June 29, 2020.

April, 2020

If return in FORM GSTR-3B is furnished on or before June 30, 2020.

3

Taxpayers having an aggregate turnover of up to rupees 1.5 crores in the preceding financial year

February, 2020

If return in FORM GSTR-3B is furnished on or before June 30, 2020.

March, 2020

If return in FORM GSTR-3B is furnished on or before July 03, 2020.

April, 2020

If return in FORM GSTR-3B is furnished on or before July 06, 2020.

This notification shall be deemed to have come into force with effect from March 20, 2020.

 

[Notification No. 32/2020 – Central Tax]


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