Waiver of interest and late fee in GST for the month of March and April, 2021

Waiver of interest and late fee under GST for the month of March and April, 2021

Government has granted waiver from payment of interest and/or late fee to normal & composition taxpayers (Monthly / Quarterly) for the month of March and April, 2021, through Central Tax Notification No. 08/2021 and Notification No. 09/2021, both dated 1st May, 2021. The details are summarized below:

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Extension in dates of various GST Compliances (GSTR-4, GSTR-5, GSTR-6, GSTR-7, GSTR-8. GSTR-1 for GST Taxpayers

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Extension Due date for Income Tax compliances to provide relief to taxpayers in view of the severe pandemic Covid-19-Income Tax Return, Audit Report, TDS Return and other Returns 

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Relaxation to normal taxpayers in filing of monthly return in Form GSTR-3B

Relaxation in filing of Form GSTR-3B (Quarterly) by Taxpayers under QRMP Scheme

Relaxations in filing Form CMP-08 for Composition Taxpayers:

For Quarter of Jan-Mar-2021, instead of 18^th April-2021, Composition Scheme 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.

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