Comments
The Finance Ministry has relaxed compliance norms for Goods and Services Tax (GST) assessees.
Accordingly, there will be no late fees for filing March/April 3B up to 15 days and 30 days from original due date for tax-payers with turnover more than ₹5 crore and up to ₹5 crore, respectively. For quarter-ending March 31, there will be no late fees if 3B is filed within 30 days from the original due date. Form 3B shows how much tax has been paid in cash and how much through credit. The due date for filing GSTR-4 (Annual Return for person who has opted for Composition Scheme) has been extended to May 31 from March 31.
Similarly, ITC-04 due date has been extended to May 31 for the January-March quarter. The GSTR-1 due date for April has been extended to May 26.
The Ministry has extended compliance of rule 36(4). Such conditions will apply cumulatively for the period between April and May. The return in form GSTR-3B for the tax period May shall be furnished with the cumulative adjustment of input tax credit for the said months in accordance with the conditions.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.