The following provisions have been inserted to the original notifications- 1. In case the taxpayers fail to furnish returns within the due dates prescribed under notification no. 52/2020-Central Tax but furnishes the said returns till 30th September 2020, then, Maximum late fees would be Rs 250 and fully waived for nil returns. 2. For taxpayers […]
CBIC after providing further relief to the taxpayers by issuing Notification No.51/2020, 52/2020, 53/2020 Central Tax, dated 24.06.2020 clarifies various issues such as Manner of calculation of interest for taxpayers having aggregate turnover above Rs. 5 Crores, Manner of calculation of interest for taxpayers having aggregate turnover below Rs. 5 Crores, Manner of calculation of […]
Explanation to the sections of the Finance Act, 2020 that have came into force are as follows :- Section 118 – Amendment to section 2(118), sub-clauses (c) and (d) of the CGST Act,2017 – i.e., inclusion of Dadra and Nagar Haveli and Daman and Diu and Ladakh under the definition of Union Territories. Section 125 […]
CBIC vide Notification No. 54/2020 – Central Tax dated 24th June, 2020 extends due date for furnishing FORM GSTR-3B for supply made in the month of August, 2020 for taxpayers with annual turnover up to Rs. 5 crore. Due date for furnishing FORM GSTR-3B for the month of August, 2020 extended to 1st October, 2020 […]
CBIC vide Notification No. 53/2020 – Central Tax dated 24th June, 2020 provides relief to taxpayers by waiver of late fee for delay in furnishing outward statement in FORM GSTR-1 for tax periods for months from March, 2020 to June, 2020 for monthly filers and for quarters from January, 2020 to June, 2020 for quarterly […]
Cbic vide Notification No. 52/2020 – Central Tax dated 24th June, 2020 seeks to provide one time amnesty by lowering/waiving of late fees for non furnishing of FORM GSTR-3B from July, 2017 to January, 2020 and also seeks to provide relief by conditional waiver of late fee for delay in furnishing returns in FORM GSTR-3B […]
CBIC vide Notification No. 47/2020-Central Tax, dt. 09-06-2020 amends Notification No. 40/2020 – Central Tax dated 05.05.2020 in respect of extension of validity of e-way bill generated on or before 24th March, 2020 whose validity has expired on or after 20th March, 2020 till 30th June, 2020.