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Govt gives relaxations to taxpayers for GST compliance for filing annual returns and audits

Posted Date : 06-May-2020 , 09:37:56 am | Posted By CASANSAAR print Print
The government gave further relaxations to taxpayers for goods and services tax (GST) compliance for filing annual returns and audits, increasing the time duration for some, meanwhile extending the validity of e-way bills till the month end.

In a notification dated May 5, the Central Board of Indirect Taxes and Customs (CBIC) has allowed registered persons to furnish GSTR-3B verified through electronic verification code between April 21 and June 30. This was not permitted earlier.

Further, a registered person can furnish a nil GSTR-3B through text messages, using their registered mobile number, which will be verified through a one-time password facility.

The Board has also extended by a quarter the time limited for furnishing of the annual return and GST audit for the financial year 2018-2019, till 30 September, 2020.

Date of filing GSTR 3B has been extended from November 2019 to March 2020, for the state of Jammu & Kashmir.

The Board also made changes to the Insolvency and Bankruptcy Code (IBC), clarifying that the resolution professional shall be liable to take a new registration in each of the states or Union territories where the corporate debtor was registered earlier, within thirty days of its appointment or by June 30, 2020, whichever is later. #casansaar (Source - Economic Times)

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