1. Extension in due date for filing GSTR-4: – Composition taxpayers for FY 2020-21- The due date extended to 31st May 2021 from current 30th April 2021.

2. Waiver of late fees in GSTR-3B: – GSTR-3B for the month of March & April 2021 and January-March, 2021

  • Turnover more than 5 Cr: – filed within 15 days from original due date
  • Turnover up to 5 Cr: – filed within 30 days from original due date

3. Extension in due date for filing GSTR-1/IFF: – For the month of April 2021- The due date extended

  • GSTR-1- 26 May 2021
  • IFF- 28 May 2021

4. Extension in due date for furnishing the declaration in ITC-04: – in respect of goods dispatched to a job worker or received from a job worker for Jan-Mar’21 quarter- The due date extended to 31st May 2021.

5. Relaxation in restriction of Input Tax Credit under rule 36(4): – Rule-36(4) Restriction of 5% shall apply cumulatively for the period April to May, 2021.

6. Reduction in Interest Rate: – delayed GST payment for Regular/Composition Taxpayers for the month of March & April 2021 and quarter of March 2021 (Composition)

  • Turnover more than 5 Cr: – Interest rate reduced to 9% for first 15 days and thereafter interest rate 18 %
  • Turnover upto 5 Cr: – Interest rate reduced to NIL for First 15 days and 9% for next 15 days and thereafter interest rate 18 %
  • Composition Taxpayer: – Interest rate reduced to NIL for First 15 days and 9% for next 15 days and thereafter interest rate 18 %

Author Bio

Qualification: CA in Practice
Company: Ronak Khandelwal and Associates
Location: Jaipur, Rajasthan, India
Member Since: 19 May 2021 | Total Posts: 2

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