Amidst the COVID19 pandemic and the lockdown already in force in most parts of the country, CBIC has issued various notifications to provide relief to the taxpayers for various GST compliances.
Summary of Relief Measures announced in GST Compliances on 01st May 2021 is as follows:
Reduction in Interest Rate for delayed payment of GST (Notification No. 8/2021)
Interest Rate for delayed payment of GST has been lowered as follows:
| Category | Period of Reduction | Applicable Interest Rates |
| Regular taxpayer having an aggregate turnover of more than rupees 5 crores in the preceding financial year | March 2021 and April 2021 | First 15 days- 9% from the due date; Thereafter- 18% |
| Regular taxpayer under Monthly Scheme having an aggregate turnover of up to rupees 5 crores in the preceding financial year | March 2021 and April 2021 | First 15 days- NIL from the due date; For next 15 days- 9%; Thereafter- 18% |
| Regular taxpayer under Quarterly Scheme (QRMP) having an aggregate turnover of up to rupees 5 crores in the preceding financial year | March 2021 and April 2021 | First 15 days- NIL from the due date; For next 15 days- 9%; Thereafter- 18% |
| Taxpayer under composition scheme | Quarter ending March, 2021 | First 15 days- NIL from the due date; For next 15 days- 9% Thereafter- 18% |
Waiver of Late Fees who fail to furnish the returns in GSTR-3B for the month of March & April 2021 (Notification No. 9/2021)
Late fees for delayed filing for GSTR-3B has been waiver as under:
| Category | Tax Period | Period of Waiver |
| Regular taxpayer having an aggregate turnover of more than rupees 5 crores in the preceding financial year | March & April 2021 | Late fees waived for 15 days from the due date of furnishing return |
| Regular taxpayer under Monthly Scheme having an aggregate turnover of up to rupees 5 crores in the preceding financial year | March & April 2021 | Late fees waived for 30 days from the due date of furnishing return |
| Regular taxpayer under Quarterly Scheme (QRMP) having an aggregate turnover of up to rupees 5 crores in the preceding financial year | January-March 2021 | Late fees waived for 30 days from the due date of furnishing return |
Extension in due date for furnishing return by composition taxpayers (Notification No. 10/2021)
The due date for furnishing return by composition taxpayers in GSTR-4 for FY 2020-21 has been extended from 30th April to 31st May, 2021.
Extension in due date for furnishing the declaration in ITC-04 (Notification No. 11/2021)
The due date for furnishing the declaration in FORM GST ITC-04, in respect of goods dispatched to a job worker or received from a job worker, for for the quarter January 2021-March 2021 has been extended to 31st May, 2021 from 25th April,2021.
Furnishing the statement of outward supplies in FORM GSTR-1 (Notification No. 12/2021)
The due date for furnishing the details of outward supplies in FORM GSTR-1 for the month of April 2021 has been extended from 11th May to 26th May 2021.
Furnishing the statement of outward supplies in FORM IFF (Notification No. 13/2021)
The due date for furnishing the details of outward supplies for the month of April 2021 has been extended from 13th May to 28th May, 2021
Relaxation in restriction on availment of Input Tax Credit under rule 36(4) (Notification No. 13/2021)
Restriction on availment of Input Tax Credit under rule 36(4) will apply cumulatively for the period April and May, 2021 and the return in FORM GSTR-3B for the tax period May, 2021 has to be furnished with the cumulative adjustment of input tax credit for the said months.
Extension of Compliances (Notification No. 14/2021)
Any time limit for compliance under GST law falling during the period 15th April 2021 to 30th May 2021 shall stand extended to 31st May, 2021 except:
(a) For determination of Time of Supply
(b) Registration procedures u/s 25 or u/s 27
(c) Time limit for issuing tax invoices u/s 31
(d) GSTR-1 u/s 37 (except as notified separately as per above paragraphs)
(e) Arrest u/s 69
(f) Penalty for certain offences u/s 122
(g) Detention / Seizure u/s 129
(h) E-Way Bill u/s 68
(i) Filing of return u/s 39 except u/s 39(3), 39(4) and 39(5)
The time limit for passing order in relation to rejection of refund claim falling between 15th April to 30th May, 2021 shall stand extended to 31st May 2021 or 15 days after receipt of reply to show cause notice, whichever is later.
The time limit for completion of any proceeding or passing of any order or issuance of any notice, intimation, notification, sanction or approval or such other action, by whatever name called by any authority, commission or tribunal, which falls during the period from the 15th April, 2021 to the 30th May, 2021 has been extended up to 31st May, 2021.
The time limit for filing of any appeal, reply or application or furnishing of any report, document, return, statement or such other record, by whatever name called, which falls during the period from the 15th April, 2021 to the 30th May, 2021 has been extended up to 31st May, 2021.
The time limit for verification of application for fresh GST registration and approval/ grant of GST registration under rule 9 of CGST Rules, which falls during the period from the 1st May, 2021 to the 31st May, 2021 has been extended up to 15th June, 2021.
To read the official press release, click here
Disclaimer: The views expressed by the author is based on his understanding of law and the prevailing circumstances. Taxpayers are requested to use the views judiciously and author shall not be liable for any gain/loss which might arise by referring his article.
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