Page 60 - ELT_2nd_15th April 2020_Vol 372_Part

A76 EXCISE LAW TIMES [ Vol. 372

law where the time-limit is expiring between 20th March 2020 to 29th
June 2020 shall be extended to 30th June 2020.
(5) For delayed payments of advanced tax, self-assessment tax, regular
tax, TDS, TCS, equalization levy, STT, CTT made between 20th March
2020 and 30th June 2020, reduced interest rate at 9% instead of
12%/18 % per annum (i.e. 0.75% per month instead of 1/1.5 per cent
per month) will be charged for this period. No late fee/penalty shall
be charged for delay relating to this period.
(6) Necessary legal circulars and legislative amendments for giving effect
to the aforesaid relief shall be issued in due course.
GST/Indirect Tax
(1) Those having aggregate annual turnover less than ` 5 Crore Last date
can file GSTR-3B due in March, April and May 2020 by the last week
of June, 2020. No interest, late fee, and penalty to be charged.
(2) Others can file returns due in March, April and May 2020 by last
week of June 2020 but the same would attract reduced rate of interest
@ 9% per annum from 15 days after due date (current interest rate is
18% per annum). No late fee and penalty to be charged, if complied
before till 30th June 2020.
(3) Date for opting for Composition Scheme is extended till the last week
of June, 2020. Further, the last date for making payments for the quar-
ter ending 31st March, 2020 and filing of return for 2019-20 by the
composition dealers will be extended till the last week of June, 2020.
(4) Date for filing GST annual returns of FY 18-19, which is due on 31st
March, 2020 is extended till the last week of June 2020.
(5) Due date for issue of notice, notification, approval order, sanction or-
der, filing of appeal, furnishing of return, statements, applications,
reports, any other documents, time-limit for any compliance under
the GST laws where the time-limit is expiring between 20th March
2020 to 29th June 2020 shall be extended to 30th June 2020.
(6) Necessary legal circulars and legislative amendments to give effect to
the aforesaid GST relief shall follow with the approval of GST Coun-
cil.
(7) Payment date under Sabka Vishwas Scheme shall be extended to
30th June, 2020. No interest for this period shall be charged if paid by
30th June, 2020.
Customs
(8) 24X7 Custom clearance till end of 30th June, 2020.
(9) Due date for issue of notice, notification, approval order, sanction or-
der, filing of appeal, furnishing applications, reports, any other doc-
uments, etc., time-limit for any compliance under the Customs Act
and other allied Laws where the time-limit is expiring between 20th
March 2020 to 29th June 2020 shall be extended to 30th June 2020.
Financial Services
(1) Relaxations for 3 months Debit cardholders to withdraw cash for free
from any other banks’ ATM for 3 months Waiver of minimum bal-

EXCISE LAW TIMES  15th April 2020  76