Finance Minister Nirmala Sitharaman has extended the last date for filing GST returns for March, April, and May to 30 June. The previous date for filing of GST returns was March 31, 2020. The deadline for composition returns on GST has been also been extended to 30 June 2020.
♦ The companies with less than Rs.5 crore turnover will not be charged interest or penalty for the late filing of GST. Bigger companies with a turnover of more than Rs.5 crore will have have to pay the interest amount at 9% for delayed filing of GST. No late fee or penalty will be levied.
♦ Also, the last date to opt for the compensation scheme has been extended to 30 June 2020.
♦ The last date to file income tax returns (ITR) for Financial Year 2018-2019 has been extended to 31 June.
♦ The deadline for Aadhar-PAN linking has also been extended to 30 June.
♦ Centre has made customs clearance an essential service. Hence, it will continue to operate 24/7 till 30 June 2020.