15 June 2020
To provide relief to businesses grappling with the economic impact of Covid 19, the government said it is extending the filing of Return for the month of March, April and May 2020 and composition returns under GST to June 30.
Companies which have less than Rs 5 crore turnover will not have to pay interest, late fee or penalty. For bigger companies late fee and penalty will not apply and only interest at a reduced rate of 9% will be charged. โThis is only for bigger companies. Majority of companies will have no interest, late fee or penalty,โ
Does that mean even if I file GSTR-3B and GSTR-1(quarterly) returns after 30th June, 2020 for businesses having turnover of less than 5 crore, no interest and late fee will be levied on them.
My office will start after 30th June only hence wanted to confirm.