On account of the second wave of the COVID-19 pandemic and the consequent travel restrictions around the Country, the CBIC has provided certain relaxations. The same have been summarized hereunder:
Notification No. 08/2021 – Central Tax dated 01 May 2021 - Interest Waiver
- Prescribes interest rate of 9% for the first 15 days from the due date and 18% thereafter on late filing of GSTR-3B for the months of March and April 2021 for taxpayers having an aggregate turnover of more than Rs. 5 crores in the preceding F.Y.;
- Prescribes NIL interest for the first 15 days from the due date and 9% for the next 15 days and 18% thereafter on late filing of GSTR-3B for the months of March and April 2021 for taxpayers having an aggregate turnover up to Rs. 5 crores in the preceding F.Y.;
- Prescribes NIL interest for the first 15 days from the due date and 9% for the next 15 days and 18% thereafter on late filing return under proviso Section 39(1) of the CGST Act for the months of March and April 2021 for taxpayers having an aggregate turnover up to Rs. 5 crores in the preceding F.Y.;
- Prescribes NIL interest for the first 15 days from the due date and 9% for the next 15 days and 18% thereafter on late filing return under proviso Section 39(1) of the CGST Act for the quarter ending March 2021 for taxpayers having an aggregate turnover up to Rs. 5 crores in the preceding F.Y.
Notification No. 09/2021 – Central Tax dated 01 May 2021 - Late Fees Waiver
- Waives off late fee payable for the period of 15 days from the furnishing of GSTR-3B for the months of March and April 2021 for taxpayers having an aggregate turnover of more than Rs. 5 crores in the preceding F.Y.;
- Waives off late fee payable for the period of 30 days from the furnishing of GSTR-3B for the months of March and April 2021 for taxpayers having an aggregate turnover up to Rs. 5 crores in the preceding F.Y.;
- Waives off late fee payable for the period of 30 days from the furnishing quarterly return for the quarter ending March 2021 for taxpayers having an aggregate turnover up to Rs. 5 crores in the preceding F.Y.
Notification No. 10/2021 – Central Tax dated 01 May 2021 - GSTR-4 Due Date Extension
- Extends the due date for filing of Form GSTR-4 i.e., Annual Return for the FY 2020-21 for taxpayers who have opted for the composition scheme from 30 April 2021 to 31 May 2021. The notification shall be deemed to have come into force with effect from 30 April 2021.
Notification No. 11/2021 – Central Tax dated 01 May 2021 - ITC-04 Due Date Extension
- Extends the time period for furnishing declaration in Form ITC-04 i.e., details of goods / capital goods sent to job worker and received back to 31 May 2021 for quarter January to March 2021.
Notification No. 12/2021 – Central Tax dated 01 May 2021 - GSTR-1 Due Date Extension
- Extends the time limit for furnishing the details of outward supplies in Form GSTR-1 for the month of April, 2021 to 26 May 2021.
Notification No. 13/2021 – Central Tax dated 01 May 2021 - Notifies Amendment Rules
- Notifies Central Goods and Services Tax (Third Amendment) Rules, 2021 to amend the CGST Act in the following manner:
- Inserts second proviso in Rule 36(4) of the CGST Rules to provide that the condition in Rule 36(4) ibid i.e., 105% of eligible visible ITC from Form GSTR-2B, is to be seen cumulatively for the period April and May 2021.
- Inserted proviso in Rule 59(2) of the CGST Rules to provide that for dealers who have opted for quarterly filing of Form GSTR-1 and were eligible to file monthly B2B sales till 13th of succeeding month to pass on the ITC to the recipient using Invoice Furnishing Facility (‘IFF’) can now furnish details using IFF for the month of April 2021 till 28 May 2021.
Notification No. 14/2021 – Central Tax dated 01 May 2021 - COVID-19 Reliefs
- In view of the second wave of COVID 19 pandemic, it has been notified as under:
- Where any time limit for completion or compliance of any action, by any authority or by any person, falls during the period from the 15 April 2021 to 30 May 2021, the time limit for completion or compliance of such action, shall be extended up to the 31 May 2021, including for the purposes of:
- completion of any proceeding or passing of any order or issuance of any notice, intimation, notification, sanction or approval;
- Filing of any appeal, reply or application or furnishing of any report, document, return, statement or such other record.
- However, such extension of time shall not be applicable for the compliances of the provisions of the CGST Act, as mentioned below –
- Chapter IV– Time and Value of supply
- Procedure for Registration, Special provisions relating to casual taxable person and non-resident taxable person, Tax Invoice, Furnishing of details of Outward Supplies, Levy of Late Fees, Interest on delayed payment of Tax, Power to Arrest, Liability of partner of firm to pay tax, Penalty of certain offences, Detention, seizure and release of goods and conveyances in transit
- Furnishing of Returns, except those prescribed
- Inspection of goods in movement, in so far as e-way bill is concerned; and
- Rules made under the provisions specified at clause (a) to (d) above;
- However, for the purpose of verification of the registration application and where the approval falls during the period of from 01 May 2021 to 31 May 2021, then, the time limit for the same has been extended up to 15 June 2021.
- Where the notice has been issued for rejection of refund claim and the time limit for issuance of order falls during the period of from 15 April 2021 to 30 May 2021 then the time limit for issuance of order shall be extended to the later of:
- 15 days after the receipt of reply to the notice from the registered person or
- 31 May 2021
- The Notification shall come into force with effect from 15 April 2021.
Disclaimer:
The information provided in this update is intended for informational purposes only and does not constitute legal opinion or advice. Readers are requested to seek formal legal advice prior to acting upon any of the information provided herein. This update is not intended to address the circumstances of any particular individual or corporate body. There can be no assurance that the judicial/ quasi judicial authorities may not take a position contrary to the views mentioned hereinrra quis.