CBIC extend GST return due dates, waives late fees and Interest in GST
The CBIC released a notifications dated May 01, 2021, that stated about extended due dates, waived late fees, and Interest under GST.
While the country is suffering from the COVID-19 pandemic, the Government has allowed great relief to the taxpayers by extending the deadlines to file various GST returns.
The Government also waived off the late fee payable for the delayed filing of GSTR-3B. As per a bunch of notifications issued by the Central Board of Indirect Taxes and Customs (CBIC) today, the Government has waived off the late fee for GSTR-3B for the months of April and May 2021.
The exemption is available for a delay of up to 15 days and 30 days from original due date for taxpayer with turnover more than 5 crores and up to 5 crores respectively.
As per the notification, no late fees is leviable if the return is filed by 30 days from original due date for quarter ending 31st March 2021.
The Government, via separate notifications, also extended the due date for GSTR-4 till 31st May 2021.
Further, the deadline for ITC-04 has been extended to 31st May for Jan-Mar quarter. Also, GSTR-1 due date for April 2021 extended to 26th May and IFF due date extended to 28th May.
The Government further relaxed the levy of interest for non-payment/short payment or delay in the payment of tax dues for the months of April and May 2021.
The same is summarised with the following tables:
1.Lower Interest Rate
| Class of GST Registered Person | Period/Month | Rate of Interest |
|---|---|---|
| Turnover more than Rs. 5 Crore | March’2021 and April’2021 | 9% for the first 15 days from the due date and 18% thereafter |
| Turnover up to Rs. 5 Crore | March’2021 and April’2021 | 9% for the first 15 days from the due date and 18% thereafter |
| Composition Dealers | March Quarter | NIL, for the first 15 days, 9% for the next 15 days, and 18% thereafter |
2.Waiver of late fees for delay in furnishing return in form
GSTR-3B
| Class of GST Registered Person | Period/Month | Late Fee Waiver |
|---|---|---|
| Turnover more than Rs. 5 Crore | March’2021 and April’2021 | 15 days from the original due date of furnishing return |
| Turnover up to Rs. 5 Crore (Monthly GSTR 3B) | March’2021 and April’2021 | 15 days from the original due date of furnishing return |
| Turnover up to Rs. 5 Crore (Quarterly GSTR 3B) | March Quarter | 30 days from the original due date of furnishing return |
3.Extension of various forms
| Return Form | Period | Original Due Date | Extended Date |
|---|---|---|---|
| GSTR 1 | April 2021 | 11th May 2021 | 26th May 2021 |
| GSTR 4 | FY 2020-21 | 30th April 2021 | 31st May 2021 |
| IFF | April 2021 | 13th May 2021 | 28th May 2021 |
| ITC 04 | Jan – Mar 2021 | 25th April 2021 | 31st May 2021 |
4.Changes regarding claiming ITC more than GSTR
2A/2B
Condition of not availing credit in excess of 5% of the eligible credit available in respect of invoices or debit notes, the details of which have been uploaded by the suppliers shall apply cumulatively for the period April and May 2021 and to be adjusted accordingly in GSTR 3B of May 2021.
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