Waiver of interest & penalties under GST due to COVID-19 Notification wise.
(A)Notification No. 30/2020 Dt. 03.04.2020.:- (This Notification Deal With Due Date for Application of Opting of Composition Scheme & Restriction of ITC as per Rule 36(4)
1) Due Date for Opting of Composition (in Form CMP-02) Scheme for F.Y. 2020-21:- 30th June, 2020.
2) Rule 36(4) of CGST Rule restricts the claim of ITC in GSTR 3B. According to this rule ITC claim is restricted to 10% above the ITC as per GSTR 2A.
Considering the lock down situation, the Government has relaxed the provisions of Rule 36(4). Therefore, for the GST returns relating to periods from February 2020 to August 2020, ITC as per Books can be claimed without considering the ITC as per GSTR 2A.
However, the ITC claimed has to be matched in a consolidated manner with GSTR 2A before filing GSTR 3B of September 2020.
(B) Notification No. 31/2020 Dt. 03.04.2020:- (This Notification Deal With lowering of interest rate for Various Tax Periods in Form 3B)
1) Taxpayers having an aggregate turnover of up to rupees 1.5 crores in the preceding financial year.
Rate of Interest:- NIL subject to Return in Form 3B for the Periods of Feb 20 to April 20 file within due dates as mentioned below.
i) Feb 20:- 30th June, 2020.
ii) March 20:- 3rd July, 2020.
iii) April 20:- 6th July, 2020.
2) Taxpayers having an aggregate turnover of more than rupees 1.5 crores and up to rupees five crores in the preceding financial year.
Rate of Interest:- NIL subject to Return in Form 3B for the Periods of Feb 20 to April 20 file within due dates as mentioned below.
i) Feb 20 & March 20:- 29th June, 2020.
ii) April 20:- 30th June, 2020.
3) Taxpayers having an aggregate turnover of more than rupees 5 crores in the preceding financial year.
Rate of Interest:-Nil for first 15 days from the due date, and 9% thereafter
i) Feb 20 to April 20:- 24th June, 2020.
(C) Notification No. 32/2020 Dt. 03.04.2020:- (This Notification Deal With Waiving of Late Fees for Various Tax Periods in Form 3B)
Late Fess:- NIL subject to Return in Form 3B for the Periods of Feb 20 to April 20 file within due dates as mentioned below.
1) Taxpayers having an aggregate turnover of up to rupees 1.5 crores in the preceding financial year.
i) Feb 20:- 30th June, 2020.
ii) March 20:- 3rd July, 2020.
iii) April 20:- 6th July, 2020.
2) Taxpayers having an aggregate turnover of more than rupees 1.5 crores and up to rupees five crores in the preceding financial year.
i) Feb 20 & March 20:- 29th June, 2020.
ii) April 20:- 30th June, 2020.
3) Taxpayers having an aggregate turnover of more than rupees 5 crores in the preceding financial year.
i) Feb 20 to April 20:- 24th June, 2020.
(D) Notification No. 33/2020 Dt. 03.04.2020:- (This Notification Deal With Waiving of Late Fees for Various Tax Periods in GSTR1)
i) Late Fess:- NIL subject to Monthly Return in GSTR1 for the Periods of March 20 to May 20 file within due dates as mentioned below.
Monthly GSTR 1 for the Periods from March 20 to May 20:- 30th June, 2020.
Quarterly GSTR 1 for Quarter Ending 31st March, 2020:- 30th June, 2020.
(E) Notification No. 34/2020 Dt. 03.04.2020:- (This Notification Deal With Due Date of CMP-08 & GSTR-4)
Composition Dealer (self-assessed tax in FORM GST CMP-08 for Quarter Ending 31st March, 2020):- 7th July, 2020.
Composition Dealer (FORM GSTR-4 for F.Y. Ending 31st March, 2020):- 15th July, 2020.
(F) Notification No. 36/2020 Dt. 03.04.2020:- (This Notification Deal With Due Date for filing of Form 3B for the Month of May 20.)
i) Taxpayers having an aggregate turnover of more than rupees 5 crores in the preceding financial year.:- 27th June, 2020.
ii) taxpayers having an aggregate turnover of up to rupees five crore rupees in the previous financial year, whose principal place of business is in the States of,
Chhattisgarh, Madhya Pradesh, Gujarat, Maharashtra, Karnataka, Goa, Kerala, Tamil Nadu, Telangana, Andhra Pradesh, the Union territories of Daman and Diu and Dadra and Nagar Haveli, Puducherry, Andaman and Nicobar Islands or Lakshadweep,
Due Date:- 12th July, 2020
iii) taxpayers having an aggregate turnover of up to rupees five crore rupees in the previous financial year, whose principal place of business is in the States of,
Himachal Pradesh, Punjab, Uttarakhand, Haryana, Rajasthan, Uttar Pradesh, Bihar, Sikkim, Arunachal Pradesh, Nagaland, Manipur, Mizoram, Tripura, Meghalaya, Assam, West Bengal, Jharkhand or Odisha, the Union territories of Jammu and Kashmir, Ladakh, Chandigarh or Delhi,
Due Date:- 14th July 2020.
1) Due Date for Opting of Composition (in Form CMP-02) Scheme for F.Y. 2020-21:- 30th June, 2020.
2) Rule 36(4) of CGST Rule restricts the claim of ITC in GSTR 3B. According to this rule ITC claim is restricted to 10% above the ITC as per GSTR 2A.
Considering the lock down situation, the Government has relaxed the provisions of Rule 36(4). Therefore, for the GST returns relating to periods from February 2020 to August 2020, ITC as per Books can be claimed without considering the ITC as per GSTR 2A.
However, the ITC claimed has to be matched in a consolidated manner with GSTR 2A before filing GSTR 3B of September 2020.
(B) Notification No. 31/2020 Dt. 03.04.2020:- (This Notification Deal With lowering of interest rate for Various Tax Periods in Form 3B)
1) Taxpayers having an aggregate turnover of up to rupees 1.5 crores in the preceding financial year.
Rate of Interest:- NIL subject to Return in Form 3B for the Periods of Feb 20 to April 20 file within due dates as mentioned below.
i) Feb 20:- 30th June, 2020.
ii) March 20:- 3rd July, 2020.
iii) April 20:- 6th July, 2020.
2) Taxpayers having an aggregate turnover of more than rupees 1.5 crores and up to rupees five crores in the preceding financial year.
Rate of Interest:- NIL subject to Return in Form 3B for the Periods of Feb 20 to April 20 file within due dates as mentioned below.
i) Feb 20 & March 20:- 29th June, 2020.
ii) April 20:- 30th June, 2020.
3) Taxpayers having an aggregate turnover of more than rupees 5 crores in the preceding financial year.
Rate of Interest:-Nil for first 15 days from the due date, and 9% thereafter
i) Feb 20 to April 20:- 24th June, 2020.
(C) Notification No. 32/2020 Dt. 03.04.2020:- (This Notification Deal With Waiving of Late Fees for Various Tax Periods in Form 3B)
Late Fess:- NIL subject to Return in Form 3B for the Periods of Feb 20 to April 20 file within due dates as mentioned below.
1) Taxpayers having an aggregate turnover of up to rupees 1.5 crores in the preceding financial year.
i) Feb 20:- 30th June, 2020.
ii) March 20:- 3rd July, 2020.
iii) April 20:- 6th July, 2020.
2) Taxpayers having an aggregate turnover of more than rupees 1.5 crores and up to rupees five crores in the preceding financial year.
i) Feb 20 & March 20:- 29th June, 2020.
ii) April 20:- 30th June, 2020.
3) Taxpayers having an aggregate turnover of more than rupees 5 crores in the preceding financial year.
i) Feb 20 to April 20:- 24th June, 2020.
(D) Notification No. 33/2020 Dt. 03.04.2020:- (This Notification Deal With Waiving of Late Fees for Various Tax Periods in GSTR1)
i) Late Fess:- NIL subject to Monthly Return in GSTR1 for the Periods of March 20 to May 20 file within due dates as mentioned below.
Monthly GSTR 1 for the Periods from March 20 to May 20:- 30th June, 2020.
Quarterly GSTR 1 for Quarter Ending 31st March, 2020:- 30th June, 2020.
(E) Notification No. 34/2020 Dt. 03.04.2020:- (This Notification Deal With Due Date of CMP-08 & GSTR-4)
Composition Dealer (self-assessed tax in FORM GST CMP-08 for Quarter Ending 31st March, 2020):- 7th July, 2020.
Composition Dealer (FORM GSTR-4 for F.Y. Ending 31st March, 2020):- 15th July, 2020.
(F) Notification No. 36/2020 Dt. 03.04.2020:- (This Notification Deal With Due Date for filing of Form 3B for the Month of May 20.)
i) Taxpayers having an aggregate turnover of more than rupees 5 crores in the preceding financial year.:- 27th June, 2020.
ii) taxpayers having an aggregate turnover of up to rupees five crore rupees in the previous financial year, whose principal place of business is in the States of,
Chhattisgarh, Madhya Pradesh, Gujarat, Maharashtra, Karnataka, Goa, Kerala, Tamil Nadu, Telangana, Andhra Pradesh, the Union territories of Daman and Diu and Dadra and Nagar Haveli, Puducherry, Andaman and Nicobar Islands or Lakshadweep,
Due Date:- 12th July, 2020
iii) taxpayers having an aggregate turnover of up to rupees five crore rupees in the previous financial year, whose principal place of business is in the States of,
Himachal Pradesh, Punjab, Uttarakhand, Haryana, Rajasthan, Uttar Pradesh, Bihar, Sikkim, Arunachal Pradesh, Nagaland, Manipur, Mizoram, Tripura, Meghalaya, Assam, West Bengal, Jharkhand or Odisha, the Union territories of Jammu and Kashmir, Ladakh, Chandigarh or Delhi,
Due Date:- 14th July 2020.
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