In the 43rd GST Council Meeting Certain COVID-19 related relaxations to be provided, it should be a booster does for GST Taxpayers in second waive, in council meeting mainly focus to relaxation on compliances which effected during lock down in mostly state,
Relaxation in certain due date of GST Returns and other compliances of F.Y. 2021-21 with some major decisions taken by GST Council in meeting,
Council Approve Amnesty scheme regarding late fee for pending returns, late fee for non-furnishing FORM GSTR3B for the tax periods from July, 2017 to April, 2021 has been reduced / waived as under: –
| Category | Late fees Payable |
| Taxpayers have not any tax liability | Capped to Rs 500 /- ( 250 for CGST and 250 for SGST ) |
| For other taxpayers | Capped to Rs 1000/- (250 for CGST and 250 for SGST) |
**The reduced rate of late fee would apply if GSTR-3B returns for these tax periods are furnished between 01.06.2021 to 31.08.2021,
Also council approve to reduce the burden of late fees on smaller taxpayers, maximum of late fee is being rationalized to align late fee with tax liability/ turnover of the taxpayers, as follows:
| Category
|
Late fees Payable | |
| Taxpayers have Nil Liability | Capped to Rs 500 /- ( 250 for CGST and 250 for SGST ) | For GSTR 3B and GSTR 1 |
| Annual Aggregate Turnover (AATO) in preceding year up to Rs 1.5 crore | Capped to Rs 2000 /- ( 1000 for CGST and 1000 for SGST ) | For GSTR 3B and GSTR 1 |
| AATO in preceding year between Rs 1.5 crore to Rs 5 crore | Capped to Rs 5000 /- ( 2500 for CGST and 2500 for SGST ) | For GSTR 3B and GSTR 1 |
| AATO in preceding year above Rs 5 crores | Capped to Rs 10000 /- ( 5000 for CGST and 5000 for SGST ) | For GSTR 3B and GSTR 1 |
| Taxpayers have nil Liability | Capped to Rs 500 /- ( 250 for CGST and 250 for SGST ) | For GSTR-4 |
| For others | Capped to Rs 2000 /- ( 1000 for CGST and 1000 for SGST ) | For GSTR-4 |
| Delayed furnishing of FORM GSTR-7 | Rs.50/- per day (Rs. 25 CGST + Rs 25 SGST) and to be capped to a maximum of Rs 2000/- (Rs. 1,000 CGST + Rs 1,000 SGST) per return | For GSTR-7 |
In addition to the relief measures already provided to the taxpayers vide the notifications issued on 01.05.2021, the following further relaxations are being provided to the taxpayers:
| Category | Period | Interest rate | Late fees |
| Taxpayers (aggregate turnover up to Rs. 5 crore | March & April | Nil rate for first 15 days from the due date of furnishing GSTR-3B and PMT-06,9% thereafter for further 45 days and 30 days for March, 2021 and April 2021 | Waiver of late fee for delay in furnishing return in FORM GSTR3B for the tax periods March / QE March, 2021 and April 2021 for 60 days and 45 days respectively, from the due date of furnishing FORM GSTR-3B |
| Composition dealer | Jan-March | NIL rate of interest for first 15 days from the due date of furnishing the statement in CMP-08 by composition dealers for QE March 2021, and reduced rate of 9% thereafter for further 45 days | |
| Taxpayers (aggregate turnover up to Rs. 5 crore | May | i NIL rate of interest for first 15 days from the due date of furnishing the return in FORM GSTR-3B or filing of PMT-06 Challan, and reduced rate of 9% thereafter for further 15 days | i Waiver of late fee for delay in furnishing returns in FORM GSTR-3B for taxpayers filing monthly returns for 30 days from the due date of furnishing FORM GSTR-3B. |
| Taxpayers (aggregate turnover more than Rs. 5 crore | May | A lower rate of interest @ 9% for first 15 days after the due date of filing return in FORM GSTR-3B for the tax period May, 2021 | Waiver of late fee for delay in furnishing returns in FORM GSTR-3B for the tax period May, 2021 for 15 days from the due date of furnishing FORM GSTR-3B. C |
| GSTR-1/IFF | May | – | Extension of due date of filing GSTR-1/ IFF for the month of May 2021 by 15 days. |
| GSTR-4 | F.Y. 2020-21 | – | Extension of due date of filing to 31.07.2021 |
| ITC-04 | Quarter end on March-21 | – | Extension of due date of filing to 31.07.2021 |
| Rule 36(4) for availing ITC | Apr-May-Jun | – | Cumulative application for tax period Apr, May and June in the return period of Jun 2021 |
Note: All this respective date will notify government by notification and circular it has been taken from 43rd GST council meeting press release circulated on 28th May 2021
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