Coronavirus Impact: FM Sitharaman Relaxes IT, GST Deadline Till June 30, Waives Off ATM Charges

New Delhi: Union Finance Minister Nirmala Sitharaman today announced the extension of the deadline for filing income tax returns and Goods and Services Tax- GST returns till June 30. Furthermore, the government has reduced charges for digital trade transactions and ATM cash withdrawals to promote online financial transactions at the time of the COVID-19 pandemic.

FM Sitharaman extended the GST return filing deadline for March, April and May 2020 till June 30, 2020. Addressing the media through a video conference, FM said that the deadline for filing composition returns has also been extended till June 30.

She further said that companies that have a turnover of less than five crore, no interest, no late fee, and no penalty will be charged. Companies with turnover of above Rs 5 crore will not have to pay any late fee or penalty but will have to pay a 9 per cent interest rate for late filing of GST.