GST Compliances relaxations dt. 1st May 2021

1. No late fees for filing 3b of Mar/April 3b upto 15 days and 30 days from original due date for taxpayer with turnover more than 5 cr and upto 5 crore respectively. For quarter ending 31st mar, no late fees if 3b filed by 30 days from original due date

2. GSTR-4 due date extended to 31st May

3. ITC-04 due date extended to 31st May for Jan-Mar quarter

4. GSTR-1 due date for April'21 extended to 26th May and IFF due date extended to 28th May.

5. Timeline for all other proceedings, asset order etc. Whose last date of completion falls between 15th April to 30th May is extended to 31st May

6. Relaxation in Interest Payment for the month of March 21 & April 21

If Turnover of Preceeding FY is less than 5 Crore - Normal Taxpayers/QRMP scheme and Composition scheme

- No Interest for 15 days from Due date

- Rate of Interest shall be 9℅ p.a. for next 15 days

- There after rate of Interest shall be 18%

If Turnover of Preceeding FY is 5 Crore or more

- For first 15 days from due date Rate of Interest shall be 9℅ p.a.,

- There after rate of Interest shall be 18%

7. Relaxation in availment in ITC

Rule 36(4) i.e. 105% cap on availment of ITC in FORM GSTR-3B to be applicable on cumulative basis for period April and May 2021, to be applied in the return for tax period May 2021. Otherwise, rule 36(4) is applicable for each tax period.

8. The filing of GSTR-3B and GSTR-1/ IFF by companies using electronic verification code has already been enabled for the period from the 27.04.2021 to 31.05.2021

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