Amidst the second wave of covid-19 pandemic throughout the country and complete/partial lockdown already in force in most parts of the country, CBIC comes out with another set of midnight notifications to provide relief to the taxpayers for various GST compliance/returns.
The relief comes in the form of waiving late fees for certain Certain returns and providing conditional reduction in interest on late payment of GST.
CBIC, vide notifications have also relaxed the provisions of Rule 36(4) for the month of April 2021, which could benefit the taxpayers in claiming ITC for the month of April 2021, subject to certain conditions.
Below is a Summary of the notifications issued on 01st May 2021
SUMMARY OF NOTIFICATIONS ISSUED ON 01ST MAY 2021
| Waiver of Late Fees upto | ||||||
| Form | March | April | ||||
| GSTR 1 | NA | 26/05/2021 | ||||
| IFF | NA | 28/05/2021 | ||||
| GSTR 3B > 5cr (M) | 05/05/2021 | 04/06/2021 | ||||
| GSTR 3B < 5cr (M) | 20/05/2021 | 19/06/2021 | ||||
| GSTR 3B (Q) * | 22/05/2021 | NA | ||||
| GSTR 3B (Q) ** | 24/05/2021 | |||||
| ITC - 04 | 31/05/2021 | NA | ||||
Interest waiver Category 1* |
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| Rate of Interest | Return Period - March | Return Period - April | ||||
| Above 5 Cr | Below 5Cr - Monthly | QRMP | Above 5 Cr | Below 5Cr - Monthly | QRMP | |
| 0% p.a. | NA | 05/05/2021 | 07/05/2021 | NA | 04/06/2021 | 09/06/2021 |
| 9% p.a. | 05/05/2021 | 20/05/2021 | 22/05/2021 | 04/06/2021 | 19/06/2021 | 24/06/2021 |
| 18% p.a. | after 05/05/2021 | after 20/05/2021 | 22/05/2021 | after 04/06/2021 | after 19/06/2021 | after 24/06/2021 |
Interest waiver Category 2** |
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| Rate of Interest | Return Period - March | Return Period - April | ||||
| Above 5 Cr | Below 5Cr - Monthly | QRMP | Above 5 Cr | Below 5Cr - Monthly | QRMP | |
| 0% p.a. | NA | 05/05/2021 | 09/05/2021 | NA | 04/06/2021 | 09/06/2021 |
| 9% p.a. | 05/05/2021 | 20/05/2021 | 24/05/2021 | 04/06/2021 | 19/06/2021 | 24/06/2021 |
| 18% p.a. | after 05/05/2021 | after 20/05/2021 | after 24/05/2021 | after 04/06/2021 | after 19/06/2021 | after 24/06/2021 |
Relaxation or Composition Tax Payers for Jan-March 2021 |
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| Rate of Interest for Late Payment | For Jan - March 2021 | Form | Due Date | |||
| 0% p.a. | 03/05/2021 | |||||
| 9% p.a. | 18/05/2021 | GSTR - 4 (Annual) | 31/05/2021 | |||
| 18% p.a. | After 18/05/2021 | |||||
Relaxation for reversal of ITC as per Rule 36(4) |
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| Cumulative adjustments for ITC for April and May 2021 as per above provision can be given in GSTR 3B to be filed for the month of May 2021 | ||||||
| *Category 1 includes Chhattisgarh, Madhya Pradesh, Gujarat, Dadra and Nagar Haveli, Daman and Diu, Maharashtra, Karnataka, Goa, Lakshadweep, Kerala, Tamil Nadu, Puducherry, Andaman and Nicobar Islands, Telangana and Andhra Pradesh | ||||||
| ** Category 2 includes Jammu and Kashmir, Ladakh, Himachal Pradesh, Punjab, Chandigarh, Uttarakhand, Haryana, Delhi, Rajasthan, Uttar Pradesh, Bihar, Sikkim, Arunachal Pradesh, Nagaland, Mizoram, Manipur, Tripura, Meghalaya, Assam, West Bengal, Jharkhand and Odisha | ||||||
| NOTE: AS PER NOTIFICATION 08/2021, 09/2021, 10/2021, 11/2021, 12/2021, 13/2021 DATED 01ST MAY 2021 | ||||||
Also Read: CBIC extends GST Returns Due Dates, Waives Late Fee For GSTR-3B and Reduces Interest Rates
Note: This is not an exhaustive list of the extensions/relaxations. Please refer the relevant notifications issued in case of any doubt and kindly bring to our notice in case of any errors.
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