TaxTMI 
TaxTMI 
Clarification 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)
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....ad of Novel Corona Virus (COVID-19) across many countries of the world, including India, has caused immense loss to the lives of people and resultantly impacted the trade and industry. In view of the emergent situation and challenges faced by taxpayers in meeting the compliance requirements under various provisions of the Karnataka Goods and Services Tax Act, 2017 (hereinafter referred to as the "KGST Act"), the Government has announced various relief measures relating to statutory and regulatory compliance matters across sectors. 2. The Government has issued following notifications in order to provide relief to the taxpayers: S. No. Notification Remarks 1. Notification (4- B/2020) No. FD 05 CSL 2020....
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....on 128 of KGST Act for waiver of late fee for delay in furnishing the statement of outward supplies in FORM GSTR-I for taxpayers for the tax periods March, 2020 to May, 2020 and for quarter ending 31^st March 2020 if the same are furnished on or before 30^th day of June, 2020. 5. Notification (16/2020) No. FD 03 CSL 2020, dated 07.04.2020 Extension of due date of furnishing statement, containing the details of payment of self-assessed tax in FORM GST CMP-08 for the quarter ending 31^st March, 2020 till the 7^th day of July, 2020 and filing FORM GSTR-4 for the financial year ending 31^st March, 2020 till the 15^th day of July, 2020. 6. Notification (17/2020) No. FD 03 CSL 2020, dated 20.04....
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....30.06.2020; and (ii) furnish the statement in FORM GST ITC-03 till 31.07.2020. 2. Whether due date of furnishing FORM GSTR-3B for the months of February, March and April, 2020 has been extended ? 1. The due dates for furnishing FORM GSTR-3B for the months of February, March and April, 2020 has not been extended through any of the notifications referred in para 2 above. 2. However, as per notification (13/2020) No. FD 03 CSL 2020, dated 07.04.2020, NIL rate of interest for first 15 days after the due date of filing return in FORM GSTR-3B and reduced rate of interest @ 9% thereinafter has been notified for those registered persons whose aggregate turnover in the preceding financial year i....
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....ue date of return, till the date on which the return is filed. In addition, regular late fee shall also be leviable for such delay along with liability for penalty. 4. How to calculate the interest for late payment of tax for the months of February, March and April, 2020 for a registered person whose aggregate turnover in preceding financial year is Rs. 5 Crore? 1. As explained above, the rate of interest has been notified as Nil for first 15 days from the due date, and 9 per cent per annum thereinafter, for the said months. The same can be explained through an illustration. Illustration:- Calculation of interest for delayed filing of return for the month of March, 2020 (due date of filing being 20.04.2020) may....
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....ich the return is filed as explained in the illustration at sl.no (4) above, against entry 5. In addition, regular late fee shall also be leviable for such delay along with liability for penalty. 6. Whether the due date of furnishing the statement of outward supplies in FORM GSTR-I under section 37 has been extended for the months of February, March and April 2020? Under the provisions of section 128 of the KGST Act, in terms of notification No. (15/2020) No. FD 03 CSL 2020, dated 07.04.2020, late fee leviable under section 47 has been waived for delay in furnishing the statement of outward supplies in FORM GSTR-1 under Section 37, for the tax periods March, 2020, April 2020, May, 2020 and quarter ending 31 ^st March 202....
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.... Under the provisions of section 168A of the KGS T Act, in terms of notification (17/2020) No. FD 03 CSL 2020, 20.04.2020, the said class of taxpayers have been allowed to furnish the respective returns specified in sub-sections (3), (4) and (5) of section 39 of the said Act, for the months of March, 2020 to May, 2020 on or before the 30^th day of June, 2020. 10. What are the measures that have been specifically taken for taxpayers who are required to collect tax at source under section 52 ? Under the provisions of section 168A of the KGST Act, in terms of notification (17/2020) No. FD 03 CSL 2020, 20.04.2020, the said class of taxpayers have been allowed to furnish the statement specified....