Deadline For Filing GST Return For March-May Extended Till June

The Union Finance Ministry on Tuesday announced the extension of the deadline for filing returns of goods and services tax (GST) for March, April and May 2020 till 30th June 2020.

Addressing the media through video conference, Union Finance Minister Nirmala Sitharaman said that the deadline for filing composition returns has also been extended to 30th June 2020.

Hon’ble minister further said that “companies those have a turnover of less than five crore, no interest, no late fee or no penalty will be charged”.

Companies with turnover of above Rs 5 crore will not have to pay any late fee or penalty but they will have to file a 9 per cent interest rate for late filing of GST.

Then Hon’ble minister said “I want to underline is the date for opting for composition scheme is also extended to 30th June 2020.”

The Hon’ble minister also announced the extension of the deadline for filing income tax returns for the financial year 2018-19 till 30th June 2020 in a bid to provide relief amid the coronavirus crisis (COVID-19).

Union Finance Minister Nirmala Sitharaman also said that the government has reduced the interest rate on delayed TDS deposit to 9 per cent from the previous 18 per cent.

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