New Delhi, March 24: To provide relief to businesses facing with the economic impact of novel coronavirus (COVID019), the Central government today said it is extending the filing of Return for the month of March, April and May 2020 and composition returns under Goods and Services Tax (GST) June 30.
Addressing the press, Finance Minister Nirmala Sitharaman said that staggered filing will apply.
“While I announce 30th June as the date, specific regions will have dates like 27, 29 or 30th. Significantly, the FM also said companies which have less than Rs 5 crore turnovers will not have to pay interest, late fee or penalty. For bigger companies late fee and penalty will not apply and only interest at a reduced rate of 9 per cent will be charged.”
“This is only for bigger companies. Majority of companies will have no interest, late fee or penalty,” the finance minister said.
The date for opting for composition scheme has also been extended to June 30, 2020.