GST, Notification Update

Ministry of Finance and CBIC release three new notifications extending the time for various GST compliances.

The Ministry of Finance and Central Board of Indirect Taxes released three new notifications on 21st September 2020.

>Notification No. 66/2020 – Central Tax

An amendment was made in Notification No. 35/2020-Central Tax, dated the 3rd April, 2020.

In the said notification, in the first paragraph, in clause (i), after the first proviso, the following proviso shall be inserted, namely: –
“Provided further that where, any time limit for completion or compliance of any action, by any person, has been specified in, or prescribed or notified under sub-section (7) of Section 31 of the said Act in respect of goods being sent or taken out of India on approval for sale or return, which falls during the period from the 20th day of March, 2020 to the 30th day of October, 2020, and where completion or compliance of such action has not been made within such time, then, the time limit for completion or compliance of such action, shall stand extended upto the 31st day of October, 2020.”.

You can download a PDF copy of the notification, here.

>Notification No 67/2020 – Central Tax

An was made amendment in Notification No. 73/2017– Central Tax, dated the 29th December, 2017.

In the said notification: –
(ii) after the second proviso, the following proviso shall be inserted, namely: –
―Provided also that late fee payable under Section 47 of the said Act, shall stand waived which is in excess of two hundred and fifty rupees and shall stand fully waived where the total amount of central tax payable in the said return is nil, for the registered persons who failed to furnish the return in FORM GSTR-4 for the quarters from July, 2017 to March, 2020 by the due date but furnishes the said return between the period from 22th day of September, 2020 to31st day of October, 2020.

You can download a PDF copy of the notification, here.

>Notification No 68/2020 – Central Tax

The Government, on the recommendations of the GST Council, waives the amount of late fee payable under Section 47 of the CGST Act which is in excess of two hundred and fifty rupees, for the registered persons who fail to furnish the return in FORM GSTR-10 by the due date but furnishes the said return between the period from 22th day of September, 2020 to 31st day of December, 2020.

You can download a PDF copy of the notification, here.

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