GST Council Recommendations – Benefits to Common Man


The 43rd GST Council met under the Chairmanship of FM Smt. Nirmala Sitharaman along with ministers of the States & UTs through VC held on 28th May 2021. The council has made the following recommendations relating to the Amnesty scheme, changes in GST laws & procedures, reliefs in return filing & revised GST rates on goods and services.

Amnesty Scheme to provide relief to taxpayers regarding the late fee for pending GSTR-3B for the periods up to April’21 has been reduced/waived as under: –
i.  Has No Tax Liability – ₹500/return;
ii. Has A Tax Liability – ₹1000/return;
The reduced rate of the late fee would apply if GSTR-3B returns for these tax periods are furnished between 01.06.2021 to 31.08.2021.

Rationalization of the late fee imposed by recommending a cap applicable for prospective tax periods as under:
For GSTR1 & GSTR3B
i. Has No Tax Liability – ₹500/return.
ii. Has A Annual Aggregate Turnoveras in PY- Up to 1.5 Crs – ₹2000/return;  From 1.5 Crs to 5 Crs – ₹5000/return; Above 5 Crs – ₹10000/return.
For GSTR4
i. Has No Tax Liability – ₹500/return;
ii. Has A Tax Liability – ₹2000/return.
For GSTR7
Per day late fees revised to – ₹50/return with a max- ₹2000/return.

Annual Reconciliation & Returns
i. Filing of annual return in FORM GSTR-9 / 9A for FY 2020-21 optional for taxpayers having T/o up to Rs 2 Crore;
ii. Reconciliation statement in FORM GSTR-9C for the FY 2020-21 required by taxpayers with T/O above Rs 5 Crore (with a self-certified reconciliation statement instead of getting it certified by Chartered Accountants)

Revised due dates

MonthsDue DateInterest @ 9%Late Fees @ NIL
FromToFromTo
Mar’202120-04-202121-04-202105-05-202121-04-202105-05-2021
Apr’202120-05-202121-05-202104-06-202121-05-202104-06-2021
May’202120-06-202121-06-202105-07-202121-06-202105-07-2021
GSTR 3B T/O>5 CrsAfter which Interest @18% to  be ChargedAfter which Late Fees of
 Rs 20/ day (for NIL)
or Rs 50/day to be Charged

 

FrequencyMonthsDue DateInterest @ NilInterest @ 9%Late Fees @ NIL
FromToFromToFromTo
MonthlyMar’202120-04-202121-04-202105-05-202106-05-202119-06-202121-04-202119-06-2021
Apr’202120-05-202121-05-202104-06-202105-06-202104-07-202121-05-202104-07-2021
May’202120-06-202121-06-202105-07-202106-07-202120-07-202121-06-202120-07-2021
Mar’202122-04-202123-04-202107-05-202108-05-202121-06-202123-04-202121-06-2021
Quarterly (PMT-06)Apr’2021  25-05-202126-05-202109-06-202110-06-202109-07-2021N-A-
May’202125-06-202126-06-202110-07-202111-07-202125-07-2021
GSTR 3B – T/O<5 Crs – Cat I StatesAfter which Interest @18%  to be ChargedAfter which Late Fees of
 Rs 20/ day (for NIL)
or Rs 50/day to be Charged

 

FrequencyMonthsDue DateInterest @ NilInterest @ 9%Late Fees @ NIL
FromToFromToFromTo
MonthlyMar’202120-04-202121-04-202105-05-202106-05-202119-06-202121-04-202119-06-2021
Apr’202120-05-202121-05-202104-06-202105-06-202104-07-202121-05-202104-07-2021
May’202120-06-202121-06-202105-07-202106-07-202120-07-202121-06-202120-07-2021
Mar’202124-04-202125-04-202109-05-202110-05-202123-06-202125-04-202123-06-2021
Quarterly (PMT-06)Apr’2021  25-05-202126-05-202109-06-202110-06-202109-07-2021N-A-
May’202125-06-202126-06-202110-07-202111-07-202125-07-2021
GSTR 3B – T/O<5 Crs – Cat II StatesAfter which Interest @18%  to be ChargedAfter which Late Fees of
 Rs 20/ day (for NIL)
or Rs 50/day to be Charged

 

PeriodReturnDue Date
OriginalRevised
Mar-21GSTR-111-04-202111-04-2021
IFF13-04-202113-04-2021
Apr-21GSTR-111-05-202126-05-2021
IFF13-05-202128-05-2021
May-21GSTR-111-05-202126-06-2021
IFF13-06-202128-06-2021
GSTR 1/ IFF

 

FormFrequencyPeriodDue DateInterest @ NILInterest @ 9%
OriginalRevisedFromToFromTo
CMP-08QuarterlyJan to March  202118-04-2021NA19-04-202103-05-202104-05-202117-06-2021
GSTR-4AnnualF.Y. 2020-202130-04-202131-07-2021NANA

Other Relaxations
GSTR 2B relaxation for the month of Apr’2021 & May 2021 as per Rule 36(4).
Filing of returns for companies via EVC till 31.08.2021. 
Apart from these, certain relaxation in rates of GST for goods and services are also recommended by the council including the equipment and medicines related to COVID19. 

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