Relief Measures announced in GST Compliances due to recent surge in COVID cases:

Relief Measures announced in GST Compliances due to recent surge in COVID cases:

1.  Reduction in Interest Rate for delayed filing of GST Returns for Regular Taxpayer for the month of March & April 2021.


a)  Taxpayers having a turnover of more than Rs.5 Crore in the preceding financial year – Interest rates for delay in payment and filing of GSTR-3B for March and April 2021 has been reduced as follows- 9 % p.a for the first 15 days from the due date and 18 % p.a thereafter

b) Taxpayers having a turnover up to Rs.5 crores in the preceding financial year - Interest rates for delay in payment and filing of GSTR-3B for March and April 2021 is reduced as follows- NIL for the first 15 days from the due date, 9 % p.a for the next 15 days, and 18 % p.a thereafter
 

2. Reduction in Interest Rate for delayed filing of CMP-08 by Composition taxpayer for the March’21 quarter

 Interest rates for delay in filing of CMP-08 for the quarter January-March 2021 has been reduced as follows- Nil for the first 15 days from the due date, 9 % p.a for the next 15 days, and 18 % p.a thereafter

3.  Waiver of late fees for delayed filing of GSTR-3B for the month of March & April 2021

a)  Taxpayer having a turnover of more than Rs.5 Crores in the preceding financial year- late fees for delayed filing of GSTR-3B for March and April 2021 is waived for fifteen days from the due date of furnishing return
 
b)  Taxpayer having a turnover of less than Rs.5 Crores in the preceding financial year- late fees for delayed filing of GSTR-3B for March and April 2021 is waived for thirty days from the due date of furnishing return
 
c)  Taxpayers having a turnover of up to rupees 5 crores in the preceding financial year and who had opted for QRMP scheme - late fees for delayed filing of GSTR-3B for the quarter January-March 2021 is waived for thirty days from the due date of furnishing return

4. Extension in due date for filing GSTR-4

The due date for furnishing return in Form GSTR-4 for composition taxpayers for the financial year ending 31st March, 2021 has been extended from 30th April, 2021 to 31st May, 2021.

5. Extension in due date for furnishing the declaration in ITC-

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.
    

6.    Extension in due date for filing GSTR-

The due date for furnishing details of outward supplies in Form GSTR-1 for the month of April-2021 has been extended from 11th May, 2021 to 26th May, 2021.
 

7. Relaxation in restriction of Input Tax Credit under rule 36(4)

i) As per the sub-rule (4) inserted in rule 36 of the Central Goods and Service Tax Rules, 2017, a taxpayer filing GSTR-3B can claim provisional Input Tax Credit (ITC) only to the extent of 5% of the eligible credit available in GSTR-2A. This new percentage was applicable from January 1 2021 onwards. However, the said restriction of 5% is now applicable cumulatively for the period April to May, 2021.
 
ii) The registered person may furnish the required details for the month of April, 2021, using IFF from the 1st day of May, 2021 till the 28th day of May, 2021.

8.Time limit for completion or compliance of any action, by any authority or by any person, which falls during the period 15th April, 2021 to 30th May 2021 is extended till 31st May 2021

a. The said extension will also apply 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.
b. The said extension will also apply for filing of any appeal, reply or application or furnishing of any report, document, return, statement or such other record, by whatever name called
However, exception is given for few compliances, for which the time-limit is not extended and the same is mentioned below
 
  • Chapter IV of CGST Act related to time and place of supply;
  • Sub-section (3) of Section 10 related to composition levy;
  • Sections 25 – Procedure for registration;
  • Section 27 – Special provisions relating to CTP & NRTP;
  • Section 31 – Tax Invoice;
  • Section 37 – Furnishing details of outward supplies;
  • Section 47 – Levy of late fee;
  • Section 50 – Interest on delayed payment of tax;
  • Section 69 – Power to arrest;
  • Section 90 – Liability of partners of firm to pay tax;
  • Section 122 – Penalty for certain offences;
  • Section 129 – Detention, seizure and release of goods and conveyance in transit;
  • Section 39, except sub-section (3), (4) and (5) related to TDS deductors, ISD and NRTPs;
  • Section 68 related to inspection of goods in movement, in so far as e-way bill is concerned; and
  • rules made under the provisions specified above.