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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....nced by the Government for providing relief to the taxpayers in view of spread of Novel Corona Virus (COVID-19)-Reg. The Department of Revenue Central Board of Indirect Taxes and Customs, GST Policy Wing vide Circular No. 136/06/2020- GST dated 03rd April. 2020 has issued a 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), in order to ensure uniformity in the implementation of the provisions of law across the field formations, which is annexed herewith. In exercise of powers conferred by section 168 of the Tripura State Goods and Services Tax Act, 2017 (Tripura Act No. 9 of 2017) for the purpose of uniformity in the implementat....
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.... notifications in order to provide relief to the taxpayers: S. No. Notification Remarks 1. Notification No. 30/2020- Central Tax, dated 03.04.2020 Amendment in the CGST Rules so as to allow taxpayers opting for the Composition Scheme for the financial year 2020-21 to file their option in FORM CMP-02 till 30th June, 2020 and to allow cumulative application of the condition in rule 36(4) for the months of February, 2020 to August, 2020 in the return for tax period of September, 2020. 2. Notification No. 31/2020- Central Tax, dated 03.04.2020 A lower rate of interest of NIL for first 15 days after the due date of filing return in FORM GSTR-3B and @ 9% thereafter is notified for those registered persons having aggregate turnover above ....
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....A of CGST Act for extending due date of compliance which falls during the period from the 20th day of March, 2020 to the 29th day of June, to 30th day of June, 2020. 3. Various issues relating to above mentioned notifications have been examined. In order to ensure uniformity in the implementation of the provisions of the law across the field formations, the Board, in exercise of its powers conferred under section 168(1) of the CGST Act hereby clarifies each of these issues as under:- S. No. Issue Clarification 1. What are the measures that have been specifically taken for taxpayers who have opted to pay tax under section 10 the CGST Act or those availing the option to pay tax under the notification No. 02/2019- Central Tax (Rate), da....
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....urther, vide notification as per the notification No. 32/2020- Central Tax, dated 03.04.2020, Government has waived the late fees for delay in furnishing the return in FORM GSTR-3B for the months of February, March and April, 2020. 4. The lower rate of interest and waiver of late fee would be available only if due tax is paid by filing return in FORM GSTR-3B by the date(s) as specified in the Notification. 3. What are the conditions attached for availing the reduced rate of interest for the months of February, March and April, 2020, for a registered person whose aggregate turnover in the preceding financial year is above ₹ 5 Crore? 1. As clarified at sl.no. (2) above, the due date for furnishing the return remains unchanged; i.e. ....
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....st for 15 days + interest rate @9% p.a. for 15 days 3 20.06.2020 61 Yes Zero interest for 15 days + interest rate @9% p.a. for 46 days 4 24.06.2020 65 Yes Zero interest for 15 days + interest rate @9% p.a. for 50 days 5 30.06.2020 71 NO Interest rate @18% p.a. for 71 days (i.e. no benefit of reduced interest) 5. What are the conditions attached for availing the NIL rate of interest for the months of February, March and April, 2020, for a registered person whose aggregate turnover in preceding financial year is up to ₹ 5 Crore? 1. As clarified at sl.no. (2) above, the due date for furnishing the return remains unchanged. The rate of interest has been notified as Nil for the said months. 2. The conditions for availing....
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....red persons in the returns in FORM GSTR-3B for the months of February, March, April, May, June, July and August, 2020, but that the said condition shall apply cumulatively for the said period and that the return in FORM GSTR-3B for the tax period of September, 2020 shall be furnished with cumulative adjustment of input tax credit for the said months in accordance with the condition under rule 36(4). 8. What will be the status of e-way bills which have expired during the lockdown period? In terms of notification No. 35/2020- Central Tax, dated 03.04.2020,Issued under the provisions of 168A of the CGST Act, where the validity of an e-way bill generated under rule 138 of the CGST Rules expires during the period 20th day of March, 2020 to 15....