Quick Summary
Waiver of interest and late fee to normal taxpayers (filing return on monthly or quarterly basis) and composition taxpayers, for the tax periods of March and April, 2021 Government has granted waiver from payment of interest and/or late fee to normal (Monthly / Quarterly) composition taxpayers for the tax periods of March and April, 2021, through Central TaxNotification Nos. 08/2021and09/2021, both dated 1st May, 2021. The details are summarized below: Relaxation to normal taxpayers i
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1999
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2 Years PLAN
3499
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4999
(Excl. of GST ₹899)
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FAQ :
Normal taxpayers (filing monthly or quarterly) and composition taxpayers are eligible for the waiver for the tax periods of March and April 2021.
The waiver applies to the tax periods of March and April 2021.
For taxpayers with an annual turnover (AATO) over Rs. 5 Cr, reduced interest rates apply for the first 15 and next 15 days past the due date, with a late fee waiver until a specific date. For those with AATO up to Rs. 5 Cr, no interest is charged for the first 15 days, with reduced rates thereafter, and a late fee waiver until a later date.
Quarterly taxpayers filing GSTR-3B for March 2021 have a waiver of interest and late fees until 22nd/24th May 2021. For April 2021, Form GST PMT-06 filing has no interest for the first 15 days, with reduced rates thereafter.
Composition taxpayers can file their quarterly return in Form CMP-08 for the Jan-March 2021 quarter without interest up to 3rd May 2021.
Composition taxpayers will pay 9% reduced interest between 4th May and 18th May 2021, and 18% interest from 19th May 2021 onwards for the Jan-March 2021 quarter.
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