Amendment
in Integrated Goods and Services Tax Act
The Central Government, on the
recommendations of the Council, hereby makes the following amendment in
notification of the Government of India in the Ministry of Finance (Department
of Revenue), No. 10/2017–Union Territory Tax, vide number G.S.R. 747(E), dated
the 30th June, 2017.
Ministry vide its circular has
added the following provisions in first para, namely: –
“Provided that, the rate of
interest per annum shall be as specified in column (3) of the Table given
below, for the class of registered persons, mentioned in the corresponding
entry in column (2) of the said Table, who are required to furnish the returns
in FORM GSTR-3B, but fail to furnish the said return along with payment of tax
for the months mentioned in the corresponding entry in column (4) of the said
Table by the due date, but furnish the said return according to the condition
mentioned in the corresponding entry in column (5) of the said Table, namely:--
TABLE
Sl.
|
Class
of registered persons
|
Rate of interest
|
Tax period
|
Condition
|
||||||||||
No.
|
||||||||||||||
(1)
|
(2)
|
(3)
|
(4)
|
(5)
|
||||||||||
1.
|
Taxpayers
|
having
|
an
|
aggregate
|
Nil for first 15 days
|
February, 2020,
|
If
|
return
|
in
|
FORM
|
||||
turnover
of more than
rupees 5
|
from
|
the
|
due
|
date,
|
March
|
2020,
|
GSTR-3B is furnished
|
|||||||
crores in
the preceding financial
|
and
|
9
|
per
|
cent
|
April, 2020
|
on or before the 24th day
|
||||||||
year
|
thereafter
|
of June, 2020
|
||||||||||||
2
|
Taxpayers
|
having
|
an
|
aggregate
|
Nil
|
February, 2020,
|
If
|
return
|
in
|
FORM
|
||||
turnover of more than rupees 1.5
|
March, 2020
|
GSTR-3B is furnished
|
||||||||||||
crores and up to rupees five crores
|
on or before the 29th day
|
|||||||||||||
in the preceding financial year
|
of June, 2020
|
|||||||||||||
April, 2020
|
If
|
return
|
in
|
FORM
|
||||||||||
GSTR-3B is furnished
|
||||||||||||||
on or before the 30th day
|
||||||||||||||
of June, 2020
|
||||||||||||||
3.
|
Taxpayers
|
having
|
an
|
aggregate
|
Nil
|
February, 2020
|
If
|
return
|
in
|
FORM
|
||||
turnover of up to rupees 1.5 crores
|
GSTR-3B is furnished
|
|||||||||||||
in the preceding financial year
|
on or before the 30th day
|
|||||||||||||
of June, 2020
|
||||||||||||||
March, 2020
|
If
|
return
|
in
|
FORM
|
||||||||||
GSTR-3B is
furnished
|
||||||||||||||
on or before the 3rd day
|
||||||||||||||
of July, 2020
|
||||||||||||||
April, 2020
|
If
|
return
|
in
|
FORM
|
||||||||||
GSTR-3B is furnished
|
||||||||||||||
on or before the 6th day
|
||||||||||||||
of July, 2020.”.
|
||||||||||||||
DISCLAIMER: THE
ARTICLE IS BASED ON THE RELEVANT PROVISIONS AND AS PER THE INFORMATION EXISTING
AT THE TIME OF THE PREPARATION. IN NO EVENT I SHALL BE LIABLE FOR ANY DIRECT
AND INDIRECT RESULT FROM THIS ARTICLE. THIS IS ONLY A KNOWLEDGE SHARING
INITIATIVE.
THE AUTHOR – CS DEEPAK SETH
(ASSOCIATE PARTNER HELPINGHANDS PROFESSIONALS LLP) AND CAN BE REACHED
AT CONTACTHHPRO@GMAIL.COM OR 9910248911.
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