New GST Relief for Taxpayers I Interest & Late Fees राहत I Regular & Composition I CA Satbir Singh

By | May 5, 2021
(Last Updated On: May 5, 2021)

New GST Relief for Taxpayers I Interest & Late Fees राहत I Regular & Composition I CA Satbir Singh

Government has granted waiver from payment of interest and/or late fee to normal (Monthly / Quarterly) & composition taxpayers for the tax periods of March and April, 2021, through Central Tax Notification Nos. 08/2021 and 09/2021, both dated 1st May, 2021. The details are summarized below:

 

  • Relaxation to normal taxpayers in filing of monthly return in Form GSTR-3B
Sl.
No.
Tax PeriodClass of taxpayer

(Based on AATO)

Due date of filingReduced Rate of InterestWaiver of late fee till
First 15 days from due dateNext 15 daysFrom 31st  day onwards
1March, 2021> Rs. 5 Cr.20th April9%18%18%5th May, 2021
Up to Rs. 5 Cr20th AprilNil9%18%20th May, 2021
2April, 2021> Rs. 5 Cr.20th May9%18%

 

18%4th June, 2021
Up to Rs. 5 Cr20th MayNil9%

 

18%

 

19th June, 2021
  • Relaxation in filing of Form GSTR-3B (Quarterly) by Taxpayers under QRMP Scheme
Sl.
No.
Tax PeriodClass of taxpayer

(Based on AATO)

Due date of filingReduced Rate of InterestWaiver of late fee till
First 15 days from due dateNext 15 daysFrom 31st  day onwards
1March, 2021Form GSTR-3B (Quarterly)22/24th  April, 2021,

(Group A/B)

Nil

 

9%

 

18%

 

22/ 24th  May, 2021,

(Group A/B)

2April, 2021Form GST PMT-0625th May, 2021Nil

 

9%

 

18%

 

NA

 

    1. Relaxations in filing Form CMP-08 for Composition Taxpayers : For Quarter of Jan-March, 2021, instead of 18th April, 2021, Composition Taxpayers can now file their quarterly return in Form CMP-08, without interest up to 3rd May, 2021, with 9% reduced interest between 4th May to 18th May, 2021, and with 18% interest from 19th May, 2021 onwards.

Thanking You,
Team GSTN

Category: GST

About CA Satbir Singh

Chartered Accountant having 12+ years of Experience in Taxation , Finance and GST related matters and can be reached at Email : Taxheal@gmail.com

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