In a bid to provide monetary relief to the taxpayers affected due to the COVID-19 Lockdown, the Central Board of Indirect Taxes and Customs has today clarified that no recoveries of late GST payment shall be taken for the past lockdown period.
CBIC in this regard, had issued a notification on 25th August 2020, stating-
“The Central Government hereby appoints the 1st day of September, 2020, as the date on which the provisions of section 100 of the Finance (No. 2) Act, 2019 (23 of 2019), shall come into force.”
1st September 2020 was notified as the date for payment of all previous late GST payments, after which the provisions of section 100 of the Finance (No. 2) Act, 2019, read with section 50 of CGST Act 2017, regarding interest on late GST payments shall apply.