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Relief Measures and other updates

The World economy is extended to take a major step back with the advent of Coronavirus outbreak .
The Indian Government has been taking practice steps to address the issues concerning the citizens
and businesses. On 24th March 2020, the Union Finance & Corporate Affairs Minister Smt. Nirmala
Sitharaman announced important relief measures on statutory and regulatory compliance matters
across various sectors. These announcements were particularly focused in the areas of Income Tax,
EPF, ESI, GST, Customs & Central Excise, Corporate Affairs, Insolvency & Bankruptcy Code (IBC),
Fisheries, and banking services and commerce.

We have compiled them all in one summary to give businesses, pensioners and taxpayers’ quick
access to the relief measures available.

 Extension of Due dates under GST & Income tax


 Payroll
 Goods and Services tax
 Income Tax
 Finance Charge
 Extension of Due dates

Late
Sr. Regular Due Revised
Tax Payer Return Type Tax Period Int. Fees & Remark
No Dates Due Dates
Penalty
Intimation for
On or
Opting to April 2020- On or before
before
1 Composition March 31st March NA NA NA
30th June
scheme GST 2021 2020
2020
CMP-02
GST CMP-08 07-Jul-20
January
(Quarterly
2020-
2 Statement for 18-Apr-20 NA NA NA
March
Composition
Composition 2020
dealer)
Scheme
April 2019-
GSTR-4
3 March 30-Apr-20 15-Jul-20 NA NA NA
(Annual Return)
2020
Reversal of ITC
in stock for
April 2020-
dealer opting for On or before 31-May-
4 March NA NA  
composition 31st May 2020 20
2021
scheme GST
ITC-03
                 
22nd/24th
Mar-20 03-Jul-20 No No
Regular Tax April 2020
payer (havin 22nd/24th
Apr-20 06-Jul-20 No No No interest, late
g aggregate May 2020 fees or penalties of
turnover not State-1 :
GSTR 3B the tax is paid and
5 exceeding Rs 12.07.202
(Monthly) the returns is filed
1.5 crore in 0
22nd/24th within the extended
preceding May-20 No No
June 2020 due dates.
financial State-1 :
year) 14.07.202
0
                 
22nd/24th
Mar-20 30-Jun-20 No No
April 2020
Regular Tax 22nd/24th
Apr-20 30-Jun-20 No No No interest, late
payer (havin May 2020 fees or penalties of
g aggregate State-1 :
GSTR 3B the tax is paid and
6 turnover 12.07.202
(Monthly) the returns is filed
exceeding Rs 0
22nd/24th within the extended
1.5 crore to 5 May-20 No
June 2020 due dates.
crores ) State-1 :
14.07.202
0  
                 
Regular Tax GSTR 3B 9% No late fees or
7 Mar-20 20-Apr-20 30-Jun-20 No
payer (havin (Monthly) p.a penalties of the tax
g aggregate 9%
Apr-20 20-May-20 30-Jun-20 No is paid and the
turnover p.a returns is filed
exceeding Rs
9% within the extended
1.5 crore to 5 May-20 20-Jun-20 27-Jun-20 No
p.a due dates.
crores )
                 
March, 20th of
Non Resident succeeding
8 GSTR-5 April & 30-Jun-20 No No
Taxpayers month
May, 2020
March, 13th of
Input Service No late fees or
9 GSTR-6 April & succeeding 30-Jun-20 No No
Distributors penalties of the tax
May, 2020 month
Tax 10th of is paid and the
March, returns is filed
Deductors at succeeding
10 GSTR-7 April & 30-Jun-20 No No within the extended
Source (TDS month
May, 2020 due dates.
deductors)
Tax 10th of
March,
Collectors at succeeding
11 GSTR-8 April & 30-Jun-20 No No
Source (TCS month
May, 2020
collectors)
                 
Mar-20 11-Apr-20 30-Jun-20 No No
Outward
GSTR-1 Apr-20 11-May-20 30-Jun-20 No No
Supplies
12 May-20 11-Jun-20 30-Jun-20 No No
Outward GSTR-1 Jan to No No
Supplies ( Quarterly) March'20 30-Apr-20 30-Jun-20  

Taxpayers having aggregate turnover of upto Rs. 5 Cr. in preceding FY


Extended date and
Tax period no late fees if return Principal place of business is in State/UT of
filed on or before

Chhattisgarh, Madhya Pradesh, Gujarat, Maharashtra,


Karnataka, Goa, Kerala, Tamil Nadu, Telangana,
May, 2020 Group 1
12th July, 2020 Andhra Pradesh, Daman & Diu and Dadra & Nagar
States/UTs
Haveli, Puducherry, Andaman and Nicobar Islands,
Lakshadweep

Himachal Pradesh, Punjab, Uttarakhand, Haryana,


Rajasthan, Uttar Pradesh, Bihar, Sikkim, Arunachal
May, 2020 Group 2
14th July, 2020 Pradesh, Nagaland, Manipur, Mizoram, Tripura,
States/UTs
Meghalaya, Assam, West Bengal, Jharkhand, Odisha,
Jammu and Kashmir, Ladakh, Chandigarh, Delhi

The due dates certain matters has been extended till June’20 in following cases:

(a) completion of any proceeding or passing of any order or issuance of any notice, intimation,
notification, sanction or approval or such other action, by whatever name called, by any authority,
commission or tribunal, by whatever name called, under the provisions of the Acts stated above; or
(b) filing of any appeal, reply or application or furnishing of any report, document, return, statement
or such other record, by whatever name called, under the provisions of the Acts stated above;

Income tax Due Dates

Payroll

 Government Contribution to Provident Fund:


The EPF contribution comes from both the employer and the employee at 12% each. The employer’s
contribution is divided between the Employee’s Pension Scheme (EPS) paying 8.33% and the
Employee’s Provident Fund (EPF) paying 3.67% to a total of 12%. In light of the COVID-19
pandemic, the government has offered to pay both parts of the EPF contribution for the next three
months. This is for establishments which have 100 employees or less and in which 90% of those
employees are earning less than Rs.15, 000/month.

 Easier to withdraw your EPF corpus


The current situation is creating a need for some employees to withdraw their EPF corpus. In
response, the government will relax the EPF withdrawal rules to give employees easier access to their
money. The Employee Provident Fund Office has now introduced a Pandemic Advance, in which
employees can withdraw up to 75% of the amount in their EPF account, or 3 months’ basic salary and
dearness allowance, whichever is less.