Quick Summary
Waiver of interest and late fee for normal taxpayers (filing return on monthly or quarterly basis) and composition taxpayers (Part1) Government has granted waiver from payment of interest and/or late fee to normal (Monthly / Qtrly) composition taxpayers for the tax periods of March, April May, 2021, vide Notification. Nos. 18/2021 19/2021, both dtd. 1st June 2021. The details are summarized below: A. Relaxation to normal taxpayers in filing of monthly return in Form GSTR-3B
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FAQ :
Normal taxpayers (filing monthly or quarterly returns) and composition taxpayers are eligible for the waiver.
The waiver applies to the tax periods of March, April, and May 2021.
The relaxations cover Form GSTR-3B for normal taxpayers, Form GSTR-3B (Quarterly) and Form GST PMT-06 for taxpayers under the QRMP Scheme, and Form CMP-08 for composition taxpayers.
Yes, for normal taxpayers filing GSTR-3B, there are different interest and late fee waiver conditions based on whether their Annual Aggregate Turnover (AATO) is greater than Rs. 5 Cr or up to Rs. 5 Cr.
Reduced interest rates of 9% and 18% are mentioned for specific periods and taxpayer categories, with some instances having a Nil interest rate initially.
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