GST Relief by CBIC: Notification dated 1st May 2021

Out of the current scenario due to pandemic, Central Board of Indirect Taxes and Customs extends Relief to SMEs

 

 

Extension & relief in filing GSTR 3B as follows:  

Revised Dates for GSTR3B [Turnover < 5 Crs in P.Y.

 

Frequency

 

Months

 

Due Date

Interest @ NIL

Interest @ 9%

Late Fees @NIL

From

To

From

To

From

To

 

Monthly

Mar’21

20.04.2021

21.04.2021

05.05.2021

06.05.2021

20.05.2021

21.04.2021

20.05.2021

Apr’21

20.05.2021

21.05.2021

04.06.2021

05.06.2021

19.06.2021

21.05.2021

19.06.2021

 

Quarterly

CT I St 
CT II St
Mar’21

22.04.2021
24.04.2021

23.04.2021
25.04.2021

07.05.2021
09.05.2021

08.05.2021
10.05.2021

22.05.2021
24.05.2021

23.04.2021
25.04.2021

22.05.2021
24.05.2021

Apr’21

25.05.2021

26.05.2021

09.06.2021

10.06.2021

24.06.2021

N.A.

 

Revised Dates for GSTR3B [Turnover > 5 Crs in P.Y.

Months

Due Date

Interest @ 9%

Late Fees @ NIL

From

To

From

To

Mar’21

20.04.2021

21.04.2021

05.05.2021

21.04.2021

05.05.2021

Apr’21

20.05.2021

21.05.2021

04.06.2021

21.05.2021

04.06.2021

Note:

Interest will be charged in a staggered manner wherever applicable. If return not filed within the last date of any benefits.

Late fees @ Rs 50 [Nil Return: Rs 20] per day will be applicable from the next day of the due date as specified.

 

Extension & relief in filing GSTR 1 : 

Revised Dates for GSTR 1

 

Form

 

Period

Due Date

Original

Revised

GSTR 1

 

Apr’21

11.05.2021

26.05.2021

Form -IFF

13.05.2021

28.05.2021

 

Extension & relief to Composition Taxpayers:

Form

Frequency

Due Date

Interest @ NIL

Interest @ 9%

From

To

From

To

CMP08

Q-Mar’21

18.04.2021

19.04.2021

03.05.2021

04.05.2021

18.05.2021

The date for furnishing return by composition taxpayers on an annual basis in FORM GSTR-4 for the FY 2020-21 extended till the 31st May 2021.

 

Relaxation in availing of  Input Tax Credit:

    1. Rule 36(4) [restricts ITC beyond 5% of the ITC reflected in Form GSTR 2A/2B] will apply cumulatively for the period April’21 & May’21 and the return of May’21 in FORM GSTR-3B to be furnished with the cumulative adjustment of ITC.
    2. The date for furnishing the declaration in Form ITC-04 [ goods dispatched to a job worker or received from a job worker] for the quarter Jan’21-Mar’21 extended to 31st May 2021.

Relaxation – Others:

If falling between 15th April 2021 to 30th May 2021 – Extended till – 31st May 2021.

    • Completion of any proceeding or passing of any order or issuance of any of the following: Notice/ Intimation/ Notification/ Sanction/Approval {by any authority,  commission or  tribunal};
    • Filing of any: Appeal/ Reply/ Application;
    • Furnishing of any: Report/ Documents/ Return/ Statements or such other records;
    • Refund Orders u/s 54(5) or 54(7);.

 

Note: The above article only refers to a part of the Notification dated 1st May 2021. For detailed analysis and applicability please get back to us at [email protected] 

 

 

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