COVID-19: Here’s How the GST Compliance Calendar Looks Like Post the Pandemic

The entire world is facing a tough time coping with the noble Covid-19 virus. With governments taking several safety measures to curb the massive spread of the virus, businesses are adjusting to the evolving needs. Navigating their financial and operational challenges, several businesses are trying their best to cater to the needs of their employees, customers and stakeholders to minimise the damage caused by this pandemic. In order to make the lives of business owners a tad easier, the Indian government has taken several measures, including some relaxation to file GST returns.

Here are the revisions and waivers which would definitely help businesses to minimise the covid-19 damage.

Waiver of Interest and Late fees for GSTR-3B and GSTR-1

Illustration: Calculation of interest and late fees for delayed filing of return for the month of March, 2020 (due date of filing being 20.04.2020) may be illustrated as per the below table:

Illustration: Calculation of interest and late fees for delayed filing of return for the month of April 2020 (due date of filing being 11.05.2020) may be illustrated

Extension of time limit for filing various return for Composition dealers

Cumulative Application of condition specified in Rule 36 (4)  

• Rule 36(4) of the CGST Act, 2017, restricts availment of ITC to 110% of the ITC reflected in GSTR-2A. With the extensions in GSTR-1 dates, government has provided that the said restriction shall apply cumulatively for the period February ’20 to August ’20 in GSTR-3B of September’20. Example:

Note 1:

Due date of other compliances extended to 30th June 2020

Where the time limit of any of the following actions fall between 20th March 2020 to 29th June 2020, the due date of the same would get extended to 30th June 2020:

➢ Due date for completion of any proceeding or passing of any order or issuance of any notice, intimation, notification, sanction or approval or such other action by any authority, commission or tribunal, under the provisions of the Acts

➢ Filing of any appeal, reply or application or furnishing of any report, document, return, statement or such other record, by whatever name called, under the provisions of the Acts stated above;

The above extension includes but is not limited to:

• Filing of refund claims and other refund related compliances which fall due between 20th March 2020 to 29th June 2020
• Intimation for withdrawal from Composition Scheme under CMP-04 ➢ Amendment, Cancellation and Revocation of Cancellation of Registration
• Filing of Form ITC-01 (Exemption / Composition to Normal Scheme/ITC upon new registration), Form ITC-02 (Transfer of ITC upon transfer of business) and Form ITC03 (Normal to Exemption Scheme)
• Filing of Form ITC-04 (Intimation by principal for job work) for the period January – March 2020
• Assessment related forms including issuance of notice, furnishing of reply, passing of order ➢ Departmental audit and Special Audit related compliances
• Advance ruling compliances
• Appeal provisions including filing of appeal, cross objection etc.
• Search and seizure forms including order of seizure, bond for release of seized goods, order for release of seized goods etc.
• Demand and recovery forms including issuance of show cause notice, reply to show cause notice, passing of order, payment of demand under the order etc.

Due dates which have not been extended

• Date, when the liability to pay tax, arises in terms of the time of supply
• Date when the composition scheme lapses due to crossing of the threshold limit of turnover
• Provisions relating to new registration including date of liability for registration
• Provisions for the casual taxable person and the non-resident taxable person
• Date of issuance of tax invoice, bill of supply, receipt voucher, self-invoice, payment voucher, revised tax invoice etc.
• Arrest provisions still applicable
• Due date of intimation to the Commissioner by retiring partner from a partnership firm
• Generation, validation and Verification of e-waybill (except as provided above) and Detention, seizure and release of goods and conveyance in transit

Extension of e-waybill

Extension of due date

Note 1: Taxpayers having an aggregate turnover of less than Rs. 5 cr in the previous FY and having their principal place of business in the states of Chhattisgarh, Madhya Pradesh, Gujarat, Maharashtra, Karnataka, Goa, Kerala, Tamil Nadu, Telangana, Andhra Pradesh, the Union territories of Daman and Diu and Dadra and Nagar Haveli, Puducherry, Andaman and Nicobar Islands or Lakshadweep.

Note 2: Taxpayers having an aggregate turnover of less than Rs. 5 cr in the previous FY and having their principal place of business in the states of Himachal Pradesh, Punjab, Uttarakhand, Haryana, Rajasthan, Uttar Pradesh, Bihar, Sikkim, Arunachal Pradesh, Nagaland, Manipur, Mizoram, Tripura, Meghalaya, Assam, West Bengal, Jharkhand or Odisha, the Union territories of Jammu and Kashmir, Ladakh, Chandigarh or Delhi.

Information courtesy: S.Khaitan and Associates