Relaxations in GST Compliances

(Press Release- 43rd Council Meeting)

For Tax Period March-2021-

S. No. Particulars Due date for GSTR-3B One Time Relaxation
1. Taxpayers having an aggregate turnover of more than Rs. 5 crores in the preceding financial year 20-04-2021 

*After 20-04-21, Interest @18% P.a. on Net cash tax liability shall be charged (i.e., 20-04-2021 to date of filing)

*After 20-04-21,

Prescribed Late Fees shall be applicable

1. Interest @9% P.a. shall be charged in case of delay upto 15 days, (i.e., 21-04-2021 to 05-05-2021)

2. Interest @18% P.a. shall be charged after 15 days delay, (i.e., 06-05-2021 to date of filing)

*Late fees shall waive off for 15 days delay in furnishing the return, (i.e., 21-04-2021 to 05-05-2021)

2. Taxpayers having an aggregate turnover of up to Rs. 5 crores in the preceding financial year who are liable to furnish the return as specified under sub-section (1) of Section 39 20-04-2021 

*After 20-04-21, Interest @18% P.a. on Net cash tax liability shall be charged (i.e., 20-04-2021 to date of filing).

*After 20-04-21,

Prescribed Late Fees shall be applicable

1. Nil Interest shall be charged in case of delay upto 15 days, (i.e., 21-04-2021 to 05-05-2021)

2. Interest @9% P.a. shall be charged for next 45 days delay, (i.e., 06-05-2021 to 19-06-2021).

3. Interest @18% P.a. shall be charged if delay is still in continuance after 19-06-2021, (i.e., 20-06-2021 to date of filing)

*Late fees shall waive off for 60 days delay in furnishing the return, (i.e., 21-04-2021 to 19-06-2021)

3. Taxpayers having an aggregate turnover of up to Rs. 5 crores in the preceding financial year who are liable to furnish the return as specified under proviso to sub-section (1) of section 39 Payment of Self-assessed tax or 35% Challan in FORM PMT-06-

25-04-2021

1. Nil Interest shall be charged in case of delay upto 15 days, (i.e., 26-04-2021 to 10-05-2021)

2. Interest @9% P.a. shall be charged for next 45 days delay, (i.e., 11-05-2021 to 24-06-2021).

3. Interest @18% P.a. shall be charged if delay is still in continuance after 24-06-2021, (i.e., 25-06-2021 to date of filing).

4. Taxpayers who are liable to furnish the return as specified under sub-section (2) of section 39 (Composition Taxpayer under provisions of Section 10) FORM CMP-08

(Quarterly return)

18-04-2021

 

1. Nil Interest shall be charged in case of delay upto 15 days, (i.e., 19-04-2021 to 03-05-2021)

2. Interest @9% P.a. shall be charged for next 45 days delay, (i.e., 04-05-2021 to 17-06-2021).

3. Interest @18% P.a. shall be charged if delay is still in continuance after 17-06-2021, (i.e., 18-06-2021 to date of filing).

 For Tax Period April-2021-

S. No.. Particulars Due date for GSTR-3B One Time Relaxation
1. Taxpayers having an aggregate turnover of more than Rs. 5 crores in the preceding financial year 20-05-2021 

*After 20-05-21, Interest @18% P.a. on Net cash tax liability shall be charged (i.e., 20-05-2021 to date of filing) 

*After 20-05-21,

Prescribed Late Fees shall be applicable

1. Interest @9% P.a. shall be charged in case of delay upto 15 days, (i.e., 21-05-2021 to 04-06-2021).

2. Interest @18% P.a. shall be charged after 15 days delay, (i.e., 04-06-2021 to date of filing).

*Late fees shall waive off for 15 days delay in furnishing the return, (i.e., 21-05-2021 to 04-06-2021)

2. Taxpayers having an aggregate turnover of up to Rs. 5 crores in the preceding financial year who are liable to furnish the return as specified under sub-section (1) of Section 39 20-05-2021 

*After 20-05-21, Interest @18% P.a. on Net cash tax liability shall be charged (i.e., 20-05-2021 to date of filing)

*After 20-05-21,

Prescribed Late Fees shall be applicable

1. Nil Interest shall be charged in case of delay upto 15 days, (i.e., 21-05-2021 to 05-06-2021)

2. Interest @9% P.a. shall be charged for next 30 days delay, (i.e., 06-06-2021 to 06-07-2021).

3. Interest @18% P.a. shall be charged if delay is still in continuance after 06-07-2021, (i.e., 07-07-2021 to date of filing).

*Late fees shall waive off for 45 days delay in furnishing the return, (i.e., 21-05-2021 to 04-07-2021)

3. Taxpayers having an aggregate turnover of up to Rs. 5 crores in the preceding financial year who are liable to furnish the return as specified under proviso to sub-section (1) of section 39 Payment of Self-assessed tax or 35% Challan in FORM PMT-06- 

25-05-2021 

1. Nil Interest shall be charged in case of delay upto 15 days, (i.e., 26-05-2021 to 09-06-2021)

2. Interest @9% P.a. shall be charged for next 30 days delay, (i.e., 10-06-2021 to 09-07-2021).

3. Interest @18% P.a. shall be charged if delay is still in continuance after 09-07-2021, (i.e., 10-07-2021 to date of filing).

 For Tax Period May-2021-

Serial No. Particulars Due date for GSTR-3B One Time Relaxation
1. Taxpayers having an aggregate turnover of more than Rs. 5 crores in the preceding financial year 20-06-2021 

*After 20-06-21, Interest @18% P.a. on Net cash tax liability shall be charged (i.e., 20-06-2021 to date of filing) 

*After 20-06-21,

Prescribed Late Fees shall be applicable

1. Interest @9% P.a. shall be charged in case of delay upto 15 days, (i.e., 21-06-2021 to 05-07-2021).

2. Interest @18% P.a. shall be charged after 15 days delay, (i.e., 06-07-2021 to date of filing).

*Late fees shall waive off for 15 days delay in furnishing the return, (i.e., 21-06-2021 to 05-07-2021)

2. Taxpayers having an aggregate turnover of up to Rs. 5 crores in the preceding financial year who are liable to furnish the return as specified under sub-section (1) of Section 39 20-06-2021 

*After 20-06-21, Interest @18% P.a. on Net cash tax liability shall be charged (i.e., 20-06-2021 to date of filing)

*After 20-06-21,

Prescribed Late Fees shall be applicable

1. Nil Interest shall be charged in case of delay upto 15 days, (i.e., 21-06-2021 to 05-07-2021)

2. Interest @9% P.a. shall be charged for next 15 days delay, (i.e., 06-07-2021 to 20-07-2021).

3. Interest @18% P.a. shall be charged if delay is still in continuance after 21-07-2021, (i.e., 21-07-2021 to date of filing).

*Late fees shall waive off for 30 days delay in furnishing the return, (i.e., 21-06-2021 to 20-07-2021)

3. Taxpayers having an aggregate turnover of up to Rs. 5 crores in the preceding financial year who are liable to furnish the return as specified under proviso to sub-section (1) of section 39 Payment of Self-assessed tax or 35% Challan in FORM PMT-06-

25-06-2021

1. Nil Interest shall be charged in case of delay upto 15 days, (i.e., 26-06-2021 to 10-07-2021)

2. Interest @9% P.a. shall be charged for next 15 days delay, (i.e., 11-07-2021 to 25-07-2021).

3. Interest @18% P.a. shall be charged if delay is still in continuance after 25-07-2021, (i.e., 26-07-2021 to date of filing).

Furnishing of FORM GSTR-04 (Annual Return of Composition Taxpayer)

Serial No. Particulars Due date One Time Relaxation
1. Furnishing of FORM GSTR-04 For Financial Year 2020-21-30-04-2021 For financial year 2020-21, FORM GSTR-04 shall be furnished by a composition taxpayer upto 31st day of July-2021

Furnishing of FORM ITC-04 (Quarterly declaration in relation to goods dispatched or received from a Job-worker, during the period)

Serial No. Particulars Due date One Time Relaxation
1. Furnishing of Declaration in FORM ITC-04 For the period (Jan’21 to Mar’21)-

25-04-2021

For the period Jan’21 to Mar’21, declaration in FORM ITC-04 shall be furnished upto 30th day of June-2021

Furnishing of Details of Outward Supplies in FORM GSTR-1

For Tax Period April-2021:

Serial No. Particulars Due date One Time Relaxation
1. Furnishing of details of Outward Supplies in FORM GSTR-1 for Tax period Apr-2021 For Monthly Filers having turnover more than Rs. 5 Cr.  11-05-2021 For the Tax Period April-2021, Outward Supplies in FORM GSTR-1 shall be furnished upto 26st day of May-2021
2. Furnishing of details of Outward Supplies in FORM GSTR-1 for Tax Period Apr-2021 using IFF Facility For IFF Filers-

13-05-2021

For the Tax Period Apr-2021, Outward Supplies in FORM GSTR-1 using IFF Facility shall be furnished upto 28th day of May-2021

 For Tax Period May-2021:

Serial No. Particulars Due date One Time Relaxation
1. Furnishing of details of Outward Supplies in FORM GSTR-1 for Tax period May-2021 For Monthly Filers having turnover more than Rs. 5 Cr. –

11-06-2021

For the Tax Period May-2021, Outward Supplies in FORM GSTR-1 shall be furnished upto 26st day of June-2021
2. Furnishing of details of Outward Supplies in FORM GSTR-1 for Tax Period May-2021 using IFF Facility For IFF Filers-

13-06-2021

For the Tax Period May-2021, Outward Supplies in FORM GSTR-1 using IFF Facility shall be furnished upto 28th day of June-2021

Cumulative applicability of Rule 36(4) for Apr’21, May’21 and Jun’21:

There is no such requirement to match the Invoices and claim Input Tax Credit as per Rule 36(4) for the Tax period April-2021 and May-2021.

Cumulative Matching of Invoices for all the three Tax Periods Apr-21, May-21 and June-21 and Cumulative adjustment of ITC as per Rule 36(4) shall be made in FORM GSTR-3B for the Tax Period June-21.

Filing of returns for Companies using Electronic Verification Code (EVC):

Allowing filing of returns for Companies using Electronic Verification Code (EVC) as one time measure, instead of Digital Signature Certificate (DSC) till 31st of August, 2021.

Time Limit for Completion or Compliance of any action by any tax authority or by any person falling between 15th Apr’21 to 29th June’21

Time limit for completion or compliance of any action, by any authority or by any person, has been specified in, or prescribed or notified under the said Act, which falls during the period from the 15th day of April, 2021 to the 29th day of June, 2021, and where completion or compliance of such action has not been made within such time, then, the time limit for completion or compliance of such action, shall be extended upto the 30th day of June, 2021. 

Filing of FORM GSTR-9/9A (Annual Return) for the FY. 2020-21:

The Filing of FORM GSTR-9/9A for the Financial Year 2020-21 to be “optional” for taxpayers having an aggregate turnover upto Rs. 2 Crores.

Reconciliation Statement in FORM GSTR-9C (GST Audit):

The reconciliation statement in FORM GSTR-9C for the Financial Year 2020-21 to be “optional” for taxpayers having an aggregate turnover upto Rs. 5 Crores.

For Taxpayers having Annual Aggregate Turnover of more than Rs. 5 Crores is mandatorily required to furnish reconciliation statement in FORM GSTR-9C.

Simplification in Filing FORM GSTR-9C:

Amendment in Section 35 and 44 of CGST Act made through Finance Act, 2021 to be notified. This would ease the compliance requirement in furnishing reconciliation statement in FORM GSTR-9C, as taxpayers would be able to self-certify the reconciliation statement, instead of getting it Certified by Chartered Accountants. This change will apply for Annual return for FY. 2020-21.

Payment of Interest on Net Cash Tax Liability:

Retrospective amendment in Section 50 of CGST Act with effect from 01st of Jul, 2017, providing for payment of Interest on Net Cash Tax basis, to be notified at the earliest. 

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

To provide relief to the taxpayers, late fees for non-furnishing FORM GSTR-3B for the tax periods from Jul’2017 to Apr’2021 has been reduced as under-

  • Late fees capped to a maximum of Rs. 500/- (Rs. 250/- as CGST and Rs. 250/- as SGST) per return for taxpayers, who did not have the tax liability during the said Tax period;
  • Late fees capped to a maximum of Rs. 1000/- (Rs. 500/- CGST and Rs. 500/- as SGST) per return for other taxpayers.;

The reduced rate of late fees would be applicable if GSTR-3B for the above tax periods (i.e., Jul’17 to Apr’21) are furnished between 01st of Jun’21 to 31st of Aug’21.

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