Relief in pandemic – GST due dates extended for March and April 2021

On 1st May 2021, CBIC issued notifications to provide relief in certain aspects of GST compliances on account of the ongoing pandemic in the country.

These notifications seek to provide relief to from late fees and interest for the months of March and April 2021.

Notification 09/2021

Provides relief by waiving off late fees for filing GSTR 3B as follows:

1. Where turnover exceeds Rs. 5 crores in the preceding FY – No late fees, if GSTR 3B is filed within 15 days from the due date of furnishing the returns for the months of March and April 2021.
2. Where turnover is up to Rs. 5 crores in the preceding FY (monthly filers) – No late fees if GSTR 3B is filed within 30 days from the due date of furnishing the returns for the months of March and April 2021.
3. In case of quarterly filers – No late fees if GSTR 3B is filed within 30 days from the due date of furnishing the return for Jan to March 2021 quarter.

Notification 10/2021

Due date for furnishing GSTR-4 for the year ending on 31st March 2021 has been extended from 30th April 2021 to 31st May 2021.

Notification 11/2021

Due date of furnishing ITC-04 for the quarter Jan to March 2021 has been extended from 25th April 2021 to 31st May 2021.

Notification 12/2021

Due date for GSTR – 1 (details of outward supplies) for the month of April 2021 has been extended from 11th May 2021 to 26th May 2021.

Notification 13/2021

Amendment Rules, 2021 have been notified with the following important changes:

1. Rule 36(4) of the CGST Rules, 2017 – Proviso has been added which says that Rule 36(4) will be cumulatively applied for the period April and May 2021. The return in form GSTR 3B for May 2021 shall be furnished with cumulative adjustment of input tax credit for April and May 2021.
2. Invoice and other details using IFF can be furnished from 1st May 2021 up to 26th May 2021 (Extended from current due date of 13th of the next month)

Notification 08/2021

Reduced rate of interest as follows:

Author:

CA Nikita Punjabi

https://www.youtube.com/channel/UCDpx9imrTuhFxwgxs5qS-pA