Summary of announcements made by Hon'ble Finance Minister on 24th March 2020 regarding extension of due dates and other relaxations in compliances pertaining to Income Tax & GST.

1. Tax/2019-20/08
Bringing value through Expertise
To provide relief amid the coronavirus outbreak, the Honourable Finance Minister held a press conference on
24th
March 2020. The Finance Minister announced extension of deadlines for ITR, GST filing, as well as Aadhar-
PAN linking. She also said that all the regulators i.e. Reserve Bank of India, Finance Ministry, are working
together to ensure minimum hardships to trade and industry in the lock down period.
Original due dates and revised due dates for various tax compliances under Income Tax & GST as per Finance
Minister’s announcements are as follows:
Income Tax
Particulars Original Due Date Revised Due date
Income Tax Return for AY 2019-20 31st
March 2020 30th
June 2020
Linking of Aadhaar with PAN 31st
March 2020 30th
June 2020
The Direct Tax Vivad se Vishwas
Scheme
31st
March 2020 (No 10%
Additional Tax Payable)
30th
June 2020 (No 10% Additional
Tax Payable)
Issue of notice, intimation,
notification, approval order,
sanction order
Filing of appeal
Furnishing of return, statements,
applications, reports, any other
documents
Time limit for completion of
proceedings by the authority
Any compliance by the taxpayer
including investment in saving
instruments or investments for
roll over benefit of capital
gains under Income Tax
Act, Wealth Tax Act, Prohibition
of Benami Property Transaction
Act, Black Money Act, STT law,
CTT Law, Equalization Levy law,
Vivad Se Vishwas law
Due date of compliance between
20th March 2020 to 29th June
2020;
Due date of all such compliances
shall be extended to 30th June
2020
SNR - Tax Update

2. Payments of :
• Advance tax,
• self-assessment tax,
• regular tax,
• TDS,
• TCS,
• equalization levy,
• STT,
• CTT
Deposit between 20th March
2020 and 30th June 2020,
Interest @ 12 %/18 % per annum
(1%/ 1.50% per month)
For delayed payments made
between 20th
March 2020 to 30th
June 2020, reduced interest
rate at 9% per annum (0.75% per
month) shall be charged
No late fee/penalty shall be
charged for delay relating to this
period
Goods & services Tax (GST)
Particulars Original Due Date Revised Due date
For taxpayer’s having aggregate
annual turnover less than Rs. 5
Crore - last date for filing GSTR-3B
for February, March, April and
May 2020
22nd
/ 24th
of succeeding month 30th
June 2020.
No interest, late fee, and penalty
shall be charged.
For taxpayer’s having aggregate
annual turnover equal to or above
Rs. 5 Crore
- last date for filing GSTR-3B for
February, March, April and May
2020
- Tax Payments including Interest
& Penalty
20th
of succeeding month
On delay in payment of tax,
Interest at the rate of 18%
charged along with late fee and
penalty
30th
June 2020.
For delay beyond 15 days from
the due date (i.e. due date of 20th
of subsequent month), interest to
be levied at 9% per annum for the
period of delay beyond 15 days
(The aforesaid is applicable only if
the date of filing/ payment of tax
is on or before 30 June 2020)
No late fee/ penalty if complied
before 30.06.2020

3. Due date for exercising option to
avail Composition Scheme for
2020-21.
• Payment of tax for
quarter ending
31.03.2020
• Filing of return for 2019-
20 by composition
taxpayers
31st
March 2020
18th
April 2020
Extended till last week of June
2020
Extended till last week of June
2020
GST annual returns of FY 18-19 31st
March 2020 Last week of June 2020
Due date for
• issue of notice,
notification, approval
order, sanction order
• filing of appeal
• furnishing of return,
statements, applications,
reports, any other
documents,
• time limit for any
compliance under the
GST laws
Where the time limit is expiring
between 20th
March 2020 to 29th
June 2020
Extended to 30th
June 2020;
Payment date under Sabka
Vishwas Scheme
Extended to 30th
June 2020.
No interest for this period shall be
charged if paid by 30th
June 2020