Finance Ministry extends annual filing of GST till September 30 amid Coronavirus lockdown

In a major relief to businesses, the Centre on Wednesday, announced that the date of filing of annual GST returns for FY 2018-19 has been extended till September 30. The Ministry has also notified extending the validity of the e-way bill, expiring between March 20-April15, till May 31. This move was taken by the Central Board of Indirect Taxes and Customs (CBIC) on the late evening on Tuesday, notified via Gazette notification.

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Here are the four changes in GST filing (as per notification):

• The Board has permitted assesses to file annual return for fiscal year 2018-19 by September 30 as against earlier date of June 30. 
• The Board has extended the validity of the government's e-Way bills for inter-State as well as intra-State trade which were generated  on or before March 24  and expiring between March 20- April 1, to May 31
• The Board has allowed the e-filing of monthly return (GSTR3B) during the period from the April 21- June 30, 2020.
• Registered persons who are corporate debtors undergoing Insolvency process are liable to take a new registration in each of the States or Union territories who were registered earlier, within thirty days of the appointment of the IRP/RP.

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Data release of GST collection in April deferred

On May 2, the Centre deferred the release of April GST revenue collection data as the ongoing lockdown and extended return filing deadline led to lower mop-up during the month, sources said. The government had in March extended the deadline to file GST returns for entities with turnover of over Rs 5 crore by 15 days from the due date without payment of any late fee, interest and penalty. However, a reduced rate of 9 per cent interest was be levied if the return was filed after May 5 till June 30.

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