GST Relaxation and Revised Due Dates

4

The Government came up with multiple notifications to give relaxations to GST Taxpayers. They have extended some due dates, reduced interest rates for few days, and waived late fees for a certain period. The consolidated summarised article on the various relaxations are given below:


1) Revised Interest & Late Fee on GSTR-3B For Taxpayer having Aggregate Turnover in Preceding Financial Year is more than 5 Crore.

  • There is NO extension of the due date of GSTR-3B but merely a reduction in interest rate to 9% from 18% for 15 days.
  • There will be no Late fee for 15 days from the due date.
  • Interest is chargeable on Net Liability i.e on Liability of GSTR-3B which is payable in Cash. Therefore, if there is no outward liability payable in cash then GSTR-3B can be filed till 05/05/2021 and 04/06/2021 for the month of March 2021 and April 2021 respectively without any late fee.
  • If return not filed within the last date of any benefits, late fees @ Rs. 50/- (Nil Return: Rs. 20/-) per day will be applicable from the next day of the due date as specified.
  • Refer Notification No 08/2021- Central tax and 09/2021 Central Tax Dated 01-05-2021
2) Revised Interest & Late Fee on GSTR-3B For Taxpayer having Aggregate Turnover in Preceding Financial Year is UPTO 5 Crore in 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:


  • There is NO extension of the due date of GSTR-3B but a merely reduction in interest rate Nil for first 15 days and then 9% for next 15 days from original due date.
  • There will be no Late fee for 30 days from the due date.
  • If return not filed within the last date of any benefits, late fees @ Rs. 50/- (Nil Return: Rs. 20/-) per day will be applicable from the next day of the due date as specified.
  • Refer Notification No 08/2021- Central tax and 09/2021 Central Tax Dated 01-05-2021.
3) Revised Interest & Late Fee on GSTR-3 B For Taxpayer having Aggregate Turnover in Preceding Financial Year is UPTO 5 Crore in 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:


  • There is NO extension of the due date of GSTR-3B but a merely reduction in interest rate Nil for first 15 days and then 9% for next 15 days from original due date.
  • There will be no Late fee for 30 days from the due date.
  • If return not filed within the last date of any benefits, late fees @ Rs. 50/- (Nil Return: Rs. 20/-) per day will be applicable from the next day of the due date as specified.
  • Refer Notification No 08/2021- Central tax and 09/2021 Central Tax Dated 01-05-2021.
4) Relaxations Under Composition Scheme:


5) Other Relaxations:
  • Due date of GSTR-1 for the month of April 2021 is now extended to 26-05-2021 from 11-05-2021.
  • Due date of IFF for the month of April 2021 is now extended to 28-05-2021 from 13-05-2021
  • Due date for filing ITC-04 for the Q4 (Jan-Mar) of 2020-21 has been extended to 31.05.2021
  • Rule 36(4) shall apply cumulatively for the period April & May’2021 in the return FORM GSTR-3B for the tax period May’2021.
  • The time limit for completion of action of verification of the application for GST registration and its approval (Rule-9 of CGST rules) falls between 01.05.2021 to 31.05.2021 has been extended to 15.06.2021

 Join Us for regular updates:
On WhatsApp: Type "Updatesand send on WhatsApp Chat

For further information contact at info@commerceinsiders.com
!! Thank You  !!

Disclosures and Disclaimer

This article is being furnished for informational purposes only. We make every effort to use reliable & comprehensive information, but we do not represent that the contents of the article are accurate or complete.

Post a Comment

4 Comments
  1. What Is Dating Friendship

    “Dating” means various things to different people, particularly across generations. At loveisrespect.org, we define “dating” as two people in an intimate relationship. the connection could even be sexual, but it doesn't got to be. it's getting to be serious or casual, straight or gay, monogamous or open, short-term or long-term. The important thing to remember is that dating abuse can occur within all kinds of intimate relationships.

    https://hollywoodxray.blogspot.com/2021/06/dating.html

    ReplyDelete
  2. Nice Article,
    Such a very good information thanks for sharing this information with us.
    Srishti Academy is on the list of the top institute for B.ed Admission Assistance in Vasundhra Ghaziabad who provides complete admission assistance for B.ed (2 years regular course) from top Universities of Uttar Pradesh and Haryana.

    "B.ed Institute in Ghaziabad
    Best B.ed Institute in Ghaziabad
    Top B.ed Institute In Ghaziabad
    B.ed Institute In Vasundhara Ghaziabad
    B.ed Institute In Noida
    "

    ReplyDelete
  3. I feel good to read this blog, it's really a good blog and I'm genuinely impressed with this. I definitely share this information with my friend. Thanks for sharing this. GST netfile

    ReplyDelete
* Please Don't Spam Here. All the Comments are Reviewed by Admin.

Top Post Ad

Below Post Ad