GST Relaxations 2.0 | Amnesty, Due Date Extension, Late Fee Relaxations

1) GST Amnesty Scheme 2021

2) Relaxation in Late – Fee Payment

3) Due Dates Extended

4) Other Relaxation

Summary of GST notification are tabulated below: –

–

INTEREST ON NET CASH BASIS

Section 50 of the CGST Act, 2017 which is also replicated in SGST Acts, contains the provision for levy of interest on delay or non-payment of GST.

 In this regard, the Quantum of interest to be levied was under dispute from first day of introduction of GST.

The dispute was whether GST will be charged before adjusting ITC (on Gross Liability) or after adjusting ITC (Net Liability).

GST Council in its 43rd Meeting held  that W.E.F 01.07.2017 – Retrospective amendment in section50 of the CGST Act, providing for payment of interest on net cash basis (after adjusting ITC) .

Interest Waiver as per Notification 08/2021 and relaxation  as recommended by 43rd GST Council

For Turnover > 5 Crores in preceding FY in case of GSTR 3B Return.

If return not filed  within due dates, then late fees @ Rs. 50/- (Nil Return: Rs. 20/-) per day will be applicable from the next day after the due date as may  be prescribed/specified.

For Turnover up to 5 Cr. in Preceding FY in case of GSTR 3B Return

*thereafter 18% and Category A: Chhattisgarh, Madhya Pradesh, Gujarat, Maharashtra, Karnataka, Goa, Kerala, Tamil Nadu, Telangana, Andhra Pradesh, the Union territories of Daman and Diu and Dadra and Nagar Haveli, Puducherry, Andaman and Nicobar Islands or Lakshadweep

For Turnover up to 5 Cr.  in Preceding FY in case of GSTR 3B Return

*thereafter 18% and Category B: Himachal Pradesh, Punjab, Uttarakhand, Haryana, Rajasthan, Uttar Pradesh, Bihar, Sikkim, Arunachal Pradesh, Nagaland,  Manipur, Mizoram, Tripura, Meghalaya, Assam, West Bengal, Jharkhand or Odisha, the Union territories of J&K, Ladakh, Chandigarh or Delhi.

Relaxations to Composition Taxpayers

*thereafter 18%

Extended Due Dates for GSTR-1, IFF and GSTR 4

GST Amnesty Scheme for Late Fees waiver as per 43rd GST Council recommendation

GSTR3B

GSTR3B & GSTR1

GSTR4 :- Composition Return

GSTR7:- TDS Return

Other Relaxations

> Due date for filing ITC04 (Goods dispatched to /received from Job work) for the  Q4 (Jan-Mar) of 2020-21 has been extended to 30.06.2021.

> Government Departments and local authorities are exempted from E-Invoicing provisions

> Rule  36(4) pertain to restriction of  ITC shall apply  cumulatively for  the  period April, May and June 2021 in the return FORM GSTR-3B for the tax period June-2021

> The time limit for completion of action of verification by the proper officer of the  application for GST registration and its approval (Rule-9 of CGST rules pertaining to Verification of the Application and Approval) falls between 01.05.2021 to  30.06.2021 has been extended to 15.07.2021.

> Taxpayers registered under Companies Act can furnish returns by using EVC instead of DSC  till 31.08.2021

TIME LIMIT EXTENDED

Whose last date of completion falls between 15th April to 29th June is extended to  30th June 2021

1. Completion of any proceeding or passing of any order or issuance of  any of the following:

1. Notice, Intimation, Notification

2. Sanction and Approval (by any authority, commission or tribunal)

2. Filing of any Appeal, Reply and Application

3. Furnishing of any

1. Report

2.Document

3.Return

4. Statement or such other record

4. Refund Orders under Section 54(5) and Section 54(7) shall be extended up to 15 days after the receipt of reply to the notice OR 30th June-2021 (W.E. later)

NO BENEFIT OF EXTENSION IN FOLLOWING THE SECTION

Sec 12 to 15  Time and Value of Supply

Sec 25 Procedure for Registration

Sec 27 CTP & NRTP Provisions

Sec 31 Tax Invoice Provisions

Sec 37 Filing GSTR1

Sec 47 & Sec 50-   Late Fees and Interest

Sec 68 Inspection of Movement of Goods

Sec 69 Power to Arrest

Sec 90 Liability of Partners of firm to pay tax

Sec 122 Penalty for certain offences

Sec 129 Detention, seizure, & release of goods & conveyance in transit

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