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GST Updates
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GST Update...
1. Notification No 41/2020
In this Notification central board of indirect taxes & customs issued to extend the time limit for furnishing of annual return and reconciliation statement for the financial year 2018-19 till 30th September 2020.2.The due date for CMP - 08
The last date for filing of CMP - 08 for January - March quarter is 7th July 2020 without any liability to pay interest.Earlier this date was 18th April 2020.
3.Penalty for CMP - 08
The CMP - 08 is not a return that's why no penalty (late fee) even if file after the due date.4.Interest for CMP - 08
Interest will be payable @ 18% from 8th July 2020 till the date of filing if GST CMP - 08 is filed after 7th July 2020.5.GSTR 4 Due date
The last date for filing GSTR 4 is 15th July 2020.If not filed by 15th July 2020 interest and a late fee will be payable.
6.Composition Scheme
The last date for filing for the opt for the composition scheme for the financial year 2020-21 is now extended to 30th June 2020.7.Filing ITC - 03
If you opt for the composition scheme for the financial year 2020-21, you can now file for reversal of ITC, by filing form GST ITC 03 till 31st July 2020, instead of 30th May 2020.
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GST