The Central Government notified an amendment to a prior notification issued on 23rd April 2019. The present notification was issued on 31st August 2020.
Under the previous notification, registered persons paying tax under section 10 of the Central Goods and Service Tax Act, 2017 or availing the benefits mentioned in the notification dated 7th March 2019, were classified as a class of registered persons.
Section 10 of the Act covers composition levy. It deals with tax payable by a person whose aggregate turnover in the preceding financial year does not exceed 1.5 crore rupees. Furthermore, the benefit that was provided in the March 2019 notification was in respect of central tax on intra-state supply of goods or service or both as per the rates and conditions mentioned in the March 2019 notification.
This class of persons was required to follow a special procedure for furnishing of return and payment of tax.
Inter alia, the said persons are required to furnish a return for every financial year or, as the case may be, part thereof in FORM GSTR-4 of the Central Goods and Services Tax Rules, 2017.
These persons must furnish the return in FORM GSTR-4 of the Central Goods and Services Tax Rules, 2017, for the financial year ending 31st March 2020, till 31st October 2020.
The original deadline for filing the return was 15th July, subsequently, it was postponed to 31st August 2020. This deadline has now been extended further to 31st October 2020.
