The Government has issued various notifications, giving effect to relief measures recommended by Ministry of Finance vide Press Release dated 24th March 2020 in response to spread of COVID-19. The highlights as under:
- Relaxation in filing of GST returns and payment of tax in the form of waiving late fee and reduced interest rate.
- Relaxation from restriction of claiming Input Tax Credit [ITC] up to 10% which are not reflecting in GSTR-2A [Rule 36(4) of CGST Rules].
- Due date of GSTR-3B for the period May 2020 extended.
- Relaxation for various time bound compliances other than return filing.
- Relaxation to composition dealers in terms of various compliances.