Introduction:

Due to second wave of COVID’19 prevailing in our country, GST council in its 43rd meeting held on 28th of May’ 2021 decided to provide certain relaxations for the compliances to be done for April’21 and May’21 month.

Various central tax notifications in this regard has been issued by the Ministry dated on 1st of June 2021. Summary table of such notifications is produced as below for your reference.

Notification – Central Tax

(All dated 01.06.2021)

Subject Matter Provision
Notification No. 16/2021 Retrospective amendment in Section 50 of CGST Act’2017 effective from 01.07.2017 for payment of interest only on net tax liability payable in cash.

Introduced vide finance act 2021.

Interest only on net cash liability.
Notification No. 17/2021 GSTR-1 for April’21

GSTR-1 for May’21

Due date extended to 26thMay’2021.

Due date extended to 26thJune’2021.

Notification No. 18/2021 Interest Rate for March’21, April’21 & May’21 period

OR

Quarter ending Mar’21

Turnover >5 crores in P. FY

Intt @9% for the first 15 days from due date and then 18% thereafter.

Turnover upto 5 crore in P FY.

March’21

Days from due date

1. For first 15 days –Nil

2. For next 45 days – 9%

3. Thereafter -18%

Apr’21

Days from due date

1. For first 15 days –Nil

2. For next 30 days – 9%

Thereafter -18%

May’21

Days from due date

1. For first 15 days –Nil

2. For next 15 days – 9%

Thereafter -18%

Notification No. 19/2021 Late Fee for GSTR-3B

March’21 , April’21 and May’21 month

OR

Quarter ending Mar’21

Maximum late fee for GSTR-3B returns from June’2021 onwards.

 

 

Turnover >5 crores in P. FY

Nil late fees for the first 15 days from due date.

Turnover upto 5 crore in P FY.

March’21-

Nil late fees for the first 60 days from due date.

Apr’21-

Nil late fees for the first 45 days from due date.

May’21-

Nil late fees for the first 30 days from due date.

For Quarter ending Mar’21- NIL Late fee for 60 days from due date.

1. If Tax payable In return is nil- 250+250

2.  Otherwise, If T/o is upto 1.5 crore in P FY. Then 1000+1000 OR  If T/o is more than 1.5 crore and upto 5 crore in PFY then 2500+2500

Notification No.20/2021 Maximum late fee for GSTR-1 returns from June’2021 onwards. 1. If Sales In return is nil- 250+250

2. Otherwise, If T/o is upto 1.5 crore in P FY. Then 1000+1000

OR

If T/o is more than 1.5 crore and upto 5 crore in PFY then 2500+2500

Notification No. 21/2021 Maximum late fee for GSTR-4 returns from FY 2021-22 onwards. 1.       If Sales In return is nil- 250+250

2. Otherwise late fee is 1000+1000

Notification No. 26/2021 GST ITC-04 due date for Mar’21 quarter Good sent/received to/from Job worker return for quarter ending Mar’21 extended to 30th June’2021.
Notification No. 27/2021 Rule 36(4) ITC cumulative to be check for April’21, May’21 and June’21 month.

Means GSTR-2A/2B ITC to be check cumulative for April, May & June month.

IFF for May’21 can be filed till 28th June’21.

Author Bio

Qualification: CA in Practice
Company: N/A
Location: NOIDA, Uttar Pradesh, India
Member Since: 10 Jun 2021 | Total Posts: 1

More Under Goods and Services Tax

Leave a Comment

Your email address will not be published. Required fields are marked *

Search Posts by Date

June 2021
M T W T F S S
 123456
78910111213
14151617181920
21222324252627
282930