Summary of Relief Measures announced in GST Compliances

Amidst the COVID19 pandemic throughout the country and lockdown already in force in most parts of the country, CBIC has issued various notifications to provide relief to the taxpayers for various GST compliance.

Summary of Relief Measures announced in GST Compliances on 01st May 2021 is as follows:

• Reduction in Interest Rate for delayed payment of GST (Notification No. 8/2021): Interest Rate for delayed payment of GST has been lowered as follows:

• Waiver of Late Fees who fail to furnish the returns in GSTR-3B for the month of March & April 2021 (Notification No. 9/2021): Late fees for delayed filing for GSTR-3B has been waiver as under:

• Extension in due date for furnishing return by composition taxpayers (Notification No. 10/2021): The due date for furnishing return by composition taxpayers in GSTR-4 for FY 2020-21 has been extended from 30^th April to 31^st May, 2021.

• Extension in due date for furnishing the declaration in ITC-04 (Notification No. 11/2021): The due date for furnishing the declaration in FORM GST ITC-04, in respect of goods dispatched to a job worker or received from a job worker, for for the quarter January 2021-March 2021 has been extended to 31^st May, 2021 from 25^th April,2021.

• Furnishing the statement of outward supplies in FORM GSTR-1  (Notification No. 12/2021): The due date for furnishing the details of outward supplies in FORM GSTR-1 for the month of April 2021 has been extended from 11^th May to 26^th May 2021.

•  Furnishing the statement of outward supplies in FORM IFF  (Notification No. 13/2021): The due date for furnishing the details of outward supplies for the month of April 2021 has been extended from 13^th May to 28^th May, 2021

• Relaxation in restriction on availment of Input Tax Credit under rule 36(4) (Notification No. 13/2021): Restriction on availment of Input Tax Credit under rule 36(4) will apply cumulatively for the period April and May, 2021 and the return in FORM GSTR-3B for the tax period May, 2021 has to be furnished with the cumulative adjustment of input tax credit for the said months.

• Extension of Compliances (Notification No. 14/2021): Any time limit for compliance under GST law falling during the period 15^th April 2021 to 30^th May 2021 shall stand extended to 31^st May, 2021 except:

  (a) For determination of Time of Supply

  (b) Registration procedures u/s 25 or u/s 27

  (c) Time limit for issuing tax invoices u/s 31

  (d) GSTR-1 u/s 37 (except as notified separately as per above paragraphs)

  (e) Arrest u/s 69

  (f) Penalty for certain offences u/s 122

  (g) Detention / Seizure u/s 129

  (h) E-Way Bill u/s 68

  (i) Filing of return u/s 39 except u/s 39(3), 39(4) and 39(5)

The time limit for passing order in relation to rejection of refund claim falling between 15^th April to 30^th May, 2021 shall stand extended to 31^st May 2021 or 15 days after receipt of reply to show cause notice, whichever is later.

The time limit for completion of any proceeding or passing of any order or issuance of any notice, intimation, notification, sanction or approval or such other action, by whatever name called by any authority, commission or tribunal, which falls during the period from the 15^th April, 2021 to the 30^th May, 2021 has been extended up to 31^st May, 2021.

The time limit for filing of any appeal, reply or application or furnishing of any report, document, return, statement or such other record, by whatever name called, which falls during the period from the 15^th April, 2021 to the 30^th May, 2021 has been extended up to 31^st May, 2021.

The time limit for verification of application for fresh GST registration and approval/ grant of GST registration under rule 9 of CGST Rules, which falls during the period from the 1^st May, 2021 to the 31^st May, 2021 has been extended up to 15^th June, 2021.

Disclaimer : The views expressed by the author is based on his understanding of law and the prevailing circumstances. Taxpayers are requested to use the views judiciously and author shall not be liable for any gain/loss which might arise by referring his article.

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