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May 2, 2021

Know Extended Due Dates, Waiver of Late Fees and Interest in GST

by facelesscompliance in GST

Know Extended Due Dates, Waiver of Late Fees and Interest in GST

As per a bunch of notifications issued by the Central Board of Indirect Taxes and Customs (CBIC) on 1 May 2021, 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.

Following are the six major changes

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 daye for April’21 extended to 26th May and IFF due date extended to 28th May. 

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

6. Relaxation in Interest rate for Mar and April returns

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