The Government of India has provided relief on the GST or indirect tax

In view of coronavirus spread, the Government of India has provided relief on the GST or indirect tax. Here is the list of financial relief provided on GST or indirect tax amidst the Covid-19 outbreak. 

The list includes:-

1. Last date for filing GST annual returns of FY 18-19 extended till the last week of June 2020.

2. Last date for filing GSTR-3B due March, April, May 2020 returns and composition returns extended till last week of June 2020.

3. No interest, late fee or penalty for companies with less than Rs. 5 crore turnover; For the bigger companies, interest would be 9 per cent.

4. Last date for opting a composition scheme is extended till the last week of June 2020.

5. Payment date under Sabka Vishwas Scheme extended to June 30, 2020.

GSTN issued advisory on Tracking of GST Refund Application Status on the GST Portal and PFMS Portal:

1. The GSTN has issued a functionality to track the status of the refund application that has been available on the GST portal. By utilizing this functionality, the taxpayers can know the stage at which the refund application is pending with the tax-officer/ taxpayer.

2. A tax officer can issue payment orders only after the Public Financial Management System (PFMS) has validated the bank account mentioned in the refund application (RFD-01). Similarly, the final disbursement of the refund amount sanctioned by the tax officer happens only after (PFMS) has validated the bank account mentioned in the payment order (RFD-05). Thus, validation of the bank account takes place at two stages. However, the exact detailed status of bank account validation is not available on the GST Portal.

3. The Public Financial Management System (PFMS) of the Controller General of Accounts (CGA) has made available a central portal to track the status of bank account validation and disbursal of refund amount. 

4. This advisory is being issued for the benefit of the taxpayers in order to make them aware of the ways in which they can track the status of their refund applications on both the Portals.

To download the detailed advisory click here:  

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