Central excise

FM press conference – GST & Indirect tax date extension etc

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GST

  1. Mar-2020 to May-2020 Returns – Due date will be end of June-2020 in a staggered manner
  2. The time limit for opting for composition scheme also extended till 30-06-2020
  3. For Companies having sales less than Rs.5 crores, there will not be any interest, late fees or penalty till 30-06-2020
  4. For For Companies having sales more than Rs.5 crores, Interest will be @ 9% and there will not be any , late fees or penalty till 30-06-2020

Customs & Central Excise

  1. Sabka Viswas Scheme (SVLDRS) : The date of scheme extended till 30-06-2020 from 31-03-2020 without interest.
  2. Cusoms will operate 24X7 to facilitate import and export

To see extract of press note, please see the link below:

FM press conference – GST & Indirect tax date extension etc