GST Council- COVID related relief measures for taxpayers-

On 28th May, 2021 the GST Council met in New Delhi and took the following decisions-

1. COVID-19 related relief measures for taxpayers:

   • For small taxpayers (aggregate turnover upto Rs. 5 crore)

     • March & April 2021 tax periods:

       • NIL rate of interest for first 15 days from the due date of furnishing the return in FORM GSTR-3B or filing of PMT-06 Challan, reduced rate of 9% thereafter for further 45 days and 30 days for March,2021 and April, 2021 respectively.

       • Waiver of late fee for delay in furnishing return in FORM GSTR3B for the tax periods March / QE March, 2021 and April 2021 for 60 days and 45 days respectively, from the due date of furnishing FORM GSTR-3B.

       • NIL rate of interest for first 15 days from the due date of furnishing the statement in CMP-08 by composition dealers for QE March 2021, and reduced rate of 9% thereafter for further 45 days.

     • For May 2021 tax period:

       • NIL rate of interest for first 15 days from the due date of furnishing the return in FORM GSTR-3B or filing of PMT-06 Challan, and reduced rate of 9% thereafter for further 15 days.

       • Waiver of late fee for delay in furnishing returns in FORM GSTR3B for taxpayers filing monthly returns for 30 days from the due date of furnishing FORM GSTR-3B.

   • For large taxpayers (aggregate turnover more than Rs. 5 crore)

     • A lower rate of interest @ 9% for first 15 days after the due date of filing return in FORM GSTR-3B for the tax period May, 2021.

     • Waiver of late fee for delay in furnishing returns in FORM GSTR3B for the tax period May, 2021 for 15 days from the due date of furnishing FORM GSTR-3B.

   • Certain other COVID-19 related relaxations to be provided, such as-

     • Extension of due date of filing GSTR-1/ IFF for the month of May 2021 by 15 days.

     • Extension of due date of filing GSTR-4 for FY 2020-21 to 31.07.2021.

     • Extension of due date of filing ITC-04 for QE March 2021 to 30.06.2021.

     • Cumulative application of rule 36(4) for availing ITC for tax periods April, May and June, 2021 in the return for the period June, 2021.

     • Allowing filing of returns by companies using Electronic Verification Code (EVC), instead of Digital Signature Certificate (DSC) till 31.08.2021.