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Notifications to implement 43rd GST council decision related to COVID Relief

12 Notification has been issued under Central Tax on 1st June 2021, which are as follows:-

1. Notification no 16/2021

Seeks to appoint 01.06.2021 as the day from which the provisions of section 112 of Finance Act, 2021, relating to amendment of section 50 of the CGST Act, 2017 shall come into force.

Section 50 of CGST Act which governs payment of interest has been amended w.e.f 1st July 2017. Registered person will now be required to pay interest on tax paid through electronic cash ledger on net basis (i.e. No interest to be paid on tax paid through ITC).

2. Notification No 17/ 2021

Extend the due date for FORM GSTR-1 for May, 2021 by 15 days i.e. extended till 26th June 2021.

3. Notification no 18/2021 (To provide relief by lowering of interest rate for a specified time for tax periods March, 2021 to May, 2021.)

Turnover
(In preceding year)
GSTR-3B  month Description
More than 5 Cr. March , April and May 9% interest p.a. for first 15days after due date of filing of GSTR 3B and
18% interest p.a. thereafter
Upto 5Cr. March No interest for first 15 days after the due date of filing of GST 3B,
9% pa for next 45 days and
18% pa thereafter
  April Nil interest for first 15 days from the due date of filing GSTR-3B,
9% pa for the next 30 days and
18% pa thereafter
  May Nil interest for first 15 days from the due date of filing GSTR- 3b,
9% pa for next 15 days and
18% pa thereafter.
Upto 5Cr. (Quarterly return) Quarter ending March 2021 No interest for the first 15 days from the due date of filing GSTR- 3b for quarter March 2021, 
9% pa for the next 45 days and
18% pa  thereafter

4. Notification no 19/2021 ( waiver of late fees for GSTR 3B for March, April and May 2021)

a. Registered person having aggregate turnover of more than Rs 5cr in last year –

  • No late fees for the first 15 days from the due date.

b. Registered person having aggregate turnover upto Rs 5cr –

  • For March 2021- No late fees upto 60 days from the due date.
  • For April 2021- No late fees upto 45 days from the due date.
  • For May 2021- No late fees upto 30 days from the due date.

c. Registered person filing quarterly GSTR- 3b –  No late fees upto 60 days from the due date of filing return for March 2021 quarter.

d. Amnesty scheme-

  • Those who have not filed their GSTR- 3b for any month or quarter from July 2017 till April 2021 can file the return before 31st August 2001 with the late fee of Rs 500 per return. (i.e. One has to pay Rs. 1000 per return here)
  • If the tax payable in any return is Nil,  then the late fees shall be Rs 500 per such return. . (i.e. One has to pay Rs. 500 per return here)
  • Furnish the said return between the period from the 1st day of June, 2021 to the 31st day of August, 2021

e. Maximum late fees for delay in filing GSTR-3b from June 2021 onwards-

  • If tax payable is Nil then maximum late fees shall be Rs 250 per return (i.e. Rs.500)
  • If turnover in the last year is upto Rs 1.50 crore, then maximum late fees shall be Rs 1000 per return. (i.e. Rs.2000)
  • If turnover in last year is up to Rs 5 crore, then the maximum late fees shall be Rs 2500. (i.e. Rs.5000)

5. Notification no 20/2021 (To rationalize late fee for delay in furnishing of the statement of outward supplies in FORM GSTR-1)

Maximum late fees for delay in filing GSTR-1 from June 2021 onwards or Quarter ending June 2021 onwards-

  • If there is no outward supplies during the month/ quarter, then maximum late fees shall be Rs 250. (i.e. Rs.500)
  • If the turnover during last year is upto Rs 1.5 crore,  then maximum late fees shall be Rs 1,000. . (i.e. Rs.2000)
  • If turnover during last year is upto Rs 5 crore,  then maximum late fees shall be Rs 2500. (i.e. Rs.5000)

7. Notification 27/2021 ( Amendment in GST rules- Availment of ITC and filing of IFF for April 2021)

a. Registered person can claim ITC for April and May 2021 as per their books without following GSTR 2A. However, while filing GSTR 3B for June 2021, it need to ensure that it has availed ITC for April, May and June, put together as per GSTR 2A plus 5%.

b. Registered person filling quarterly GSTR 1 can file outward supply details in IFF for May 2021 from 1st June till 28th June 2021. Earlier the due date was till 13th June 2021.

7. Others

NN no and Date Subject
26/2021-Central Tax dated 01.06.2021 Seeks to extend the due date for furnishing of FORM ITC-04 for QE March, 2021 to 30.06.2021.
25/2021-Central Tax dated 01.06.2021 Seeks to extend the due date for filing FORM GSTR-4 for financial year 2020-21 to 31.07.2021.
24/2021-Central Tax dated 01.06.2021 Seeks to amend notification no. 14/2021-Central Tax in order to extend due date of compliances which fall during the period from “15.04.2021 to 29.06.2021” till 30.06.2021.
23/2021-Central Tax dated 01.06.2021 Seeks to amend Notification no. 13/2020-Central Tax to exclude government departments and local authorities from the requirement of issuance of e-invoice.
22/2021-Central Tax dated 01.06.2021 Seeks to rationalize late fee for delay in filing of return in FORM GSTR-7.
21/2021-Central Tax dated 01.06.2021 Seeks to rationalize late fee for delay in filing of return in FORM GSTR-4.

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