Interest & Late fees Waive for the month of March and April 2021: GSRN

The interest rate on GSTR-3B returns in March and April 2021 will be Relaxation. Please see the following list:

GST taxpayer who have a turnover up to 5 Cr in the Financial Year 2019-20: Nil for the starting first 15 days, 9% for the next 15 days, and 18% thereafter from the due date

GST Taxpayers are required to file a return under either the composition or QRMP schemes. For the first 15 days after the due date, there is a NIL fee, then 9% for the next 15 days, and 18 % after that will be chargeable.

There will be No late fee for filing GSTR 3B returns in March and April 2021. Please see the table below:

Gst taxpayers with a turnover of more than Rs. 5 crores In the financial year 2019-20	GST Taxpayers with a turnover of up to Rs. 5 crores in the financial year 2019-20 or who have opted into the QRMP system
15 days from the due date to submit their GSTR 3B Return.	30 days from the due date to submit their GSTR 3B Return.

EXTENDING THE VARIOUS DUE DATE

The timeline for filing GSTR 4 (Annual Return for Persons Opted for Composition Scheme) for FY 2020-21 has been extended by the CBIC until May 31, 2021.
The GSTN has extended the deadline for filing GST ITC-04 for the months of January to March 2021 to May 31, 2021.
The deadline for filing GSTR-1 for the month of April 2021 has been extended to the 26th of May 2021.
The Invoice Furnishing Facility (IFF) deadline for April 2021 has been extended to May 28th, 2021.
In GSTR-3B, Rule 36(4) will be applicable cumulatively for April and May 2021. Needed to file a return in May of 2021.

NEW FEATURES AND FUNCTIONS

Companies that were formed between April 27, 2021, and May 31, 2021, are eligible to file GSTR-1, GSTR-3B, and IFF using an electronic verification code (EVC).

• The GST Portal's dashboard has now allowed a Return Calendar facility function that which shows the status of the last return period's GST filing

• the Rate of GST Tax Tab has been allowed in Table No. 12 (Harmonized System of Nomenclature (HSN) Wise Summary) under the In the GSTR 1 Return,

Last updated 2 years ago