GIST of Notifications issued on 1st May 2021
Due to the ongoing second wave of the Covid – 19 pandemic, there are a lot of restrictions imposed on the business and common person to curtail the spread of the virus. As a part of lockdowns or restrictions, the trade and industry cannot run the business full-fledged and causing a lot of hardships in the filing of returns or meet the compliance requirements. Keeping in view of all these, the Government has provided relaxation under GST in for wavier/part wavier of interest, late fee and extension of due date for filing of returns.
Notification No 8/2021 – Central Tax Dated 1st May 2021 – Reduction & wavier of Interest for delayed payment of taxes
Interest will not be applicable for the delay in filing of returns for the first 15 days, and from 16th day to 30th day, it will be charged at 9%, and after 30 days, the interest rate will be 18%, i.e., the normal rate. The above benefit will be applicable for the following class of persons for the months of April and May 2021
- Taxpayers having aggregate turnover above ₹ 5 crores during the previous financial year
- Taxpayers having aggregate turnover up to ₹ 5 crores during the previous financial year and filing GSTR – 1
- Taxpayers having aggregate turnover up to ₹ 5 crores during the previous financial year and filing returns under QRMP (Quarterly Returns Monthly Payment) Scheme
- Taxpayers who are availing of the Composition Scheme benefit
The above notification is a retrospective notification and is effective from 18th April 2021
Notification No 9/2021 – Central Tax Dated 1st May 2021 – Relaxation in Late fee
Levy of the late fee has been waived for the taxpayers who are filing GSTR – 3B
- Late fee has been waived off for the first 15 days for taxpayers having aggregate turnover above ₹ 5 crores during the previous financial year
- Late fee has been waived off for the first 30 days for taxpayers who are filing GSTR – 3B on a monthly basis and quarterly basis having aggregate turnover up to ₹ 5 crores during the previous financial year
The above notification is a retrospective notification and is effective from 20th April 2021
Notification No 10/2021 – Central Tax Dated 1st May 2021
The due date for filing of GSTR – 4 by composition taxpayers has been extended to 31st May 2021.
The above notification is a retrospective notification and is effective from 30th April 2021
Notification No 11/2021 – Central Tax Dated 1st May 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, during the period from 1st January 2021 to 31st March 2021 has been extended from 25th April 2021 to 31st May 2021.
Notification No 12/2021 – Central Tax Dated 1st May 2021 – Extension in filing due date for filing of GSTR – 1
The due date for filing of GSTR – 1 for the month of April 2021 has been extended to 26th May 2021.
Notification No 13/2021 – Central Tax Dated 1st May 2021 – Relaxation in matching
Relaxation in matching for the availing input tax credit for April 2021 has been provided, and the taxpayers have to do matching for the months of April and May together while filing GSTR – 3B for the month of May 2021.
Taxpayers who are filing returns under QRMP Scheme can file IFF (invoice furnishing facility) by 28th May 2021.
Notification No 14/2021 – Central Tax Dated 1st May 2021 – Relaxation in compliance proceedings due date
The time limits for the completion of compliance or any action by the tax authorities or any person which are falling between 15th April 2021 to 30th May 2021 has been extended in the following cases
a) 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; or
b) filing any appeal, reply, or application or furnishing any report, document, return, statement, or other records, by whatever name is called.
The above extension is not applicable in the following cases
- Related to Time of Supply
- If the turnover of the composition taxpayer has crossed the threshold during this period
- Section 25 – registration procedure
- Section 27 – procedure-related to casual taxable person and the non-resident taxable person
- Section 31 – Tax Invoice
- Section 37 – provisions related to the filing of returns for outward supplies
- Section 47 – provisions related to levy of late fee
- Section 50 – provisions related to ley of interest
- Section 69 – provisions related to power to arrest errant taxpayers
- Section 90 – provisions related to Liability of partners of firm to pay tax
- Section 122 – provisions related to penalties for certain offenses
- Section 129 – provisions related to detention, seizure and release of goods and conveyance under transit
- Section 39 – except for provisions related to sub-section (3), (4) and (5) related to TDS deductors, ISD and not resident taxpayers
- Section 68 – provisions related to e-waybill
Provided that where, any time limit for completion of any action, by any authority or by any person, specified in, or prescribed or notified under rule 9 of the Central Goods and Services Tax Rules, 2017, falls during the period from the 1st day of May 2021 to the 31st day of May 2021, and where completion of such action has not been made within such time, then, the time limit for completion of such action, shall be extended up to the 15th day of June 2021;