Yesterday in the afternoon we had seen a few relaxation were provided by CBDT relating to filing of belated and revised return for AY 2020-21 under Income tax amid the ongoing pandemic and people were demanding relaxation in GST as well, and now late night CBIC has issued notification providing a few relaxation under GST which are as under:
Notification No. 08/2021: This notification is an amendment to notification no. 51/2020 which was also issued last year during the pandemic and it provides relaxation from interest on late payment of tax. In this notification again relaxation has been provided as under (This notification shall be deemed to have come into force with effect from the 18.04.2021):
| Type of taxpayer | Tax period (Month for which return filed) | Rate of interest |
| Taxpayers having an aggregate turnover of more than rupees 5 crores in the preceding financial year | March 2021, April 2021 | 9 per cent for the first 15 days from the due date and 18 per cent thereafter |
| Taxpayers having an aggregate turnover of up to rupees 5 crores in the preceding financial year who are liable to furnish the return as specified under sub-section (1) of section 39 (i.e. other than person under QRMP scheme) | March 2021, April 2021 | Nil for the first 15 days from the due date, 9 per cent for the next 15 days and 18 per cent thereafter |
| Taxpayers having an aggregate turnover of up to rupees 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 (taxpayer under QRMP scheme) | March 2021, April 2021 | Nil for the first 15 days from the due date, 9 per cent for the next 15 days and 18 per cent thereafter |
| Taxpayers who are liable to furnish the return as specified under sub-section (2) of section 39 (Composition dealer) | Quarter ending March, 2021 | Nil for the first 15 days from the due date, 9 per cent for the next 15 days and 18 per cent thereafter |
Notification 09/2021: This notification is an amendment to notification 57/2020 wherein late fees for GSTR 3B has been waived. It is good to see that this is a complete waiver and not a conditional waiver. Details of the notification are as under (This notification shall be deemed to have come into force with effect from 20.04.2021):
| Type of taxpayer | Tax period (Month for which return filed) | Period of late fees waiver |
| Taxpayers having an aggregate turnover of more than rupees 5 crores in the preceding financial year | March 2021, April 2021 | Fifteen days from the due
date of furnishing return |
| Taxpayers having an aggregate turnover of up to rupees 5 crores in the preceding financial year who are liable to furnish the return as specified under sub-section (1) of section 39 (i.e. other than person under QRMP scheme) | March 2021, April 2021 | Thirty days from the due
date of furnishing return |
| Taxpayers having an aggregate turnover of up to rupees 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 (taxpayer under QRMP scheme) | March 2021, April 2021 | Thirty days from the due
date of furnishing return |
Notification 10/2021: This notification is an amendment to notification 64/2020 wherein due date for GSTR 4 i.e. annual return for composition taxpayer was extended. Now with this notification due date of GSTR 4 for year ended 31.03.2021 has been extended to 31.05.2021.
(This notification shall be deemed to have come into force with effect from the 30th day of April, 2021)
Notification 11/2021: This notification extends the time period for furnishing the declaration in FORM GST ITC-04, in respect of goods dispatched to a job worker or received from a job worker, during the period from 1st January, 2021 to 31st March, 2021 up to the 31st day of May, 2021.
(This notification shall be deemed to have come into force with effect from the 25th day of April, 2021)
Notification 12/2021: This notification extends due date for filing of details of outward supplies under GSTR 1 for the tax period April 2021 to 26.05.2021.
Notification 13/2021: The rule for ITC mentioned in rule 36(4) will apply cumulatively in May 2021 GSTR 3B with regard to ITC for the month of April 2021 and May 2021 and not apply to GSTR 3B of April 2021 as we can see that due date for GSTR 1 has been extended.
Due date for furnishing details of invoice in IFF by QRMP scheme taxpayer for the month of April 2021 can be done between 01.05.2021 to 28.05.2021.
Although this is a good step by CBIC to help taxpayers in this tough times but it is again unfair to those taxpayers who have already filed GST return with interest as they won’t get any refund or benefit for same as always.
To download full notification CLICK HERE.
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