Analysis of GST Amensty Scheme & Relaxations in due dates of GST RETURNS as per 43rd GST Council meeting :

Today I will discuss GST Amensty Scheme and New due dates for Month of March, April and May 2021-

Amnesty Scheme to provide relief to taxpayers regarding late fee for pending returns:

  • To provide relief to taxpayers ,late fees for non-filling GSTR-3B for tax –periods July 2017-April2021 has been reduced as under-

♦ For taxpayers having nil tax liability- Late fees capped to maximum of Rs 500 (Rs 250 CGST /RS 250 SGST)

♦ For other taxpayers Late fees capped to maximum of Rs 1000 (Rs 500 CGST /RS 500 SGST)

♦ But above capping would apply if GSTR-3B RETURNS filed between- 01.06.2021 to 31.08.2021

  • For prospective tax periods late fees u/s 47 has been rationised as under-
Class of Taxpayer Maximum Late fees PER RETURN Maximum Amt
Nil Tax liability in GSTR-3B/GSTR-1 Rs 500 Rs 250 (CGST)/Rs 250(SGST)
Turnover up to Rs 1.5 crore Rs 2000 Rs 1000 (SGST)/Rs 1000(CGST)
Turnover up to Rs 1.5 crore –Rs 5 crore Rs 5000 Rs 2500( SGST)/Rs 2500 (CGST)
Turnover above Rs 5 crore Rs 10000 Rs 5000 (SGST)/Rs 5000 (CGST)
  • For composition taxpayers- Late fees capped to Rs 500 (Rs 250 CGST/Rs 250 SGST) per return if tax liability nil and Rs 2000 (Rs 1000 SGST /Rs 1000 CGST) per return other tax payers.
  • Relaxations to taxpayers in GST RETURNS due to COVID -19 –

For Monthly GSTR-3B-

Month Class of Taxpayer Original Due Date First 15 days from due date Interest Rate Next 15 days Interest Rate Late fees waived if filed till
March 2021 Aggregate Annual turnover in F.Y 2019-20 more than Rs 5 crores 20-04-2021 05-05-2021 9% From     06.05.2021 18% 05.05.2021
April 2021 20-05-2021 04-06-2021 9% From 05-06-2021 18% 04.06.2021
May 2021 20-06-2021 05-07-2021 9% From 06.07.2021 18% 05-07-2021

Month Class of Taxpayer Original Due Date First 15 days from due date Interest Rate Next 45 /30/15 days days Interest Rate Late fees waived if filed till
March 2021 Aggregate Annual turnover in F.Y 2019-20 up to Rs 5 crores 20-04-2021 05-05-2021 nil From     06.05.2021 to 19.06.2021 9% 19-06-2021
April 2021 20-05-2021 04-06-2021 nil From 05-06-2021 to 04.07.2021 9% 04.07.2021
May 2021 20-06-2021 05-07-2021 nil From 06.07.2021 to 20.07.2021 18% 20.07.2021
  • QRMP GSTR-3B- FOR QTR ENDING MARCH 2021-LATE FESS WAIVED IF RETURN FILED TILL 21.06.2021/23.06.2021 DEPANDING UPON GROUP A /GROUP B STATES AND INTEREST ALSO CHARGED NIL FOR 15 DAYS AND THEREAFTER REDUCED TO 9 % TILL 21.06.2021/23.06.2021
  • FOR PMT-06 CHALLAN-(QRMP SCHEME)
  • APRIL 2021 –DUE DATE 25.05.2021
    • INTEREST RATE NIL FOR 15 DAYS TILL 09.06.2021 AND FOR NEXT 30DAYS I.E TILL 09.07.2021 -9 % AND THEREAFTER 18%
    • MAY 2021- DUE DATE- 25.06.2021
    • INTEREST RATE NIL FOR 15 DAYS TILL 10.07.2021 AND FOR NEXT 15 DAYS I.E TILL 25.07.2021 -9 % AND THEREAFTER 18%
  • Thats all for today

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