Analysis of GST Amensty Scheme & Relaxations in GST Return

As per 43rd GST Council meeting which was held on 28 May 2021, we are going to do analysis of GST Amensty Scheme & Relaxations in due dates of GST Returns. Today we will discuss GST Amensty Scheme and new due dates for Month of March, April and May 2021-

Amnesty Scheme is for providing relief to taxpayers regarding late fee for pending returns:

  • To provide relief to taxpayers ,late fees for non-filling GSTR-3B for tax –periods July 2017-Apri l2021 has been reduced as under-
  • For taxpayers having nil tax liability- Late fees capped to maximum of Rs 500 (Rs 250 CGST /RS 250 SGST)
  • For other taxpayers Late fees capped to maximum of Rs 1000 (Rs 500 CGST /RS 500 SGST)
  • But above capping would apply if GSTR-3B RETURNS filed between- 01 June 2021 to 31 August 2021

For prospective tax periods late fees under section 47 has been rationised as under-

Class of Taxpayer                   Maximum Late fees Per ReturnMaximum Amount
Nil Tax liability in GSTR-3B/GSTR-1Rs. 500Rs. 250 (CGST)/Rs. 250(SGST)
Turnover up to INR 1.5 croreRs. 2,000Rs. 1,000 (SGST)/Rs. 1,000(CGST)
Turnover up to INR 1.5 crore – INR 5 croreRs. 5,000Rs. 2,500( SGST)/Rs. 2,500 (CGST)
Turnover above INR 5 croreRs. 10,000Rs. 5,000 (SGST)/Rs. 5,000 (CGST)
  • For Composition Taxpayers– Late fees capped to Rs. 500 (Rs. 250 CGST/Rs. 250 SGST) per income tax return if tax liability nil and for other tax payer Rs. 2,000 (Rs. 1000 SGST /Rs. 1000 CGST) per return.
  • Due to COVID -19- Relaxations to taxpayers in GST RETURNS

For Monthly GSTR-3B-

MonthClass of
Taxpayer
Original
Due Date
First 15
days from due date
Interest RateNext
15 days
Interest RateLate fees
waived if filed till
March 2021Aggregate Annual turnover
in F.Y 2019-20 more than INR 5 Crores
20 April 202105 May 20219%From     06 May 202118%05 May 2021   
April 2021 20 May 202104 June 20219%From 05 June 202118%04 June 2021
May 2021 20 June 202105 July 20219%From 06 July 202118%05 July 2021
MonthClass of
Taxpayer
Original
Due
Date
First 15
days from due date
Interest RateNext
15 days
Interest RateLate fees
waived if filed till
March 2021Aggregate Annual turnover
in F.Y 2019-20
more than INR 5 Crores
20 April 202105 May 2021nilFrom 06 May 2021 to 19 June 2021   9%19 June 2021
April 2021 20 May 202104 June 2021nilFrom 05 June 2021 to 04 July 20219%04 July 2021
May 2021 20 June 202105 July 2021nilFrom 06 July 2021 to 20 July 202118%20 July 2021
  • QRMP GSTR-3B– for quarter ending march 2021-late fess waived if return filed till 21 June 2021/23 June 2021 depending upon group A/group B states and interest also charged nil for 15 days and thereafter reduced to 9 % till 21 June 2021/23 June 2021
  • FOR PMT-06 CHALLAN-(QRMP SCHEME)
  • AApril 2021 –due date 25 May 2021
    • Interest rate nil for 15 days till 09 June 2021 and for next 30 days i.e. till 09 July 2021 -9 % and thereafter 18%
    • May 2021- due date- 25 June 2021
    • Interest rate nil for 15 days till 10 July 2021 and for next 15 days i.e. till 25 July 2021 -9 % and thereafter 18%

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