The Central Board of Indirect Taxes vide notification dated the 06th May, 2020, has issued Clarification in respect of certain challenges faced by the registered persons in implementation of provisions of GST Laws-reg and relaxations given to reduce burden of lockdown.
The following major questions are clarified:
- Under Insolvency and Bankruptcy Code, 2016, IRP/RP shall now be required to obtain registration within thirty days of the appointment of the IRP/RP or by 30th June, 2020, whichever is later.
- Requirement of exporting the goods by the merchant exporter within 90 days from the date of issue of tax invoice by the registered supplier gets extended to 30th June, 2020, provided the completion of such 90 days period falls within 20.03.2020 to 29.06.2020.
- it is clarified that the due date of furnishing of FORM GST ITC-04 for the quarter ending March, 2020 stands extended up to 30.06.2020.
Click here to read the Notification.
