Weekly Updates [01 – 07 May, 2021 – 201st Week of GST]

In the light of the hardships being faced by taxpayers across the country due to partial/ complete lockdown being brought by several SGs due to the second wave of COVID-19, the CG has issued the following notifications on 01 May, 2021:

Notfn. No.SubjectEffective from (the earliest date)…08/2021 – CT , 01/2021 – IT and 01/2021 – UTTLowering of interest rates for March and April, 202118 April, 202109/2021 – CTWaiver of late fees for specified taxpayers and specified tax periods20 April, 202110/2021 – CTExtension of due date for filing FORM GSTR – 4 for FY 2020-21 to 31.05.202130 April, 202111/2021 – CTExtension of due date for filing FORM ITC – 04 for the period Jan – Mar, 2021 to 31.05.202125 April, 202112/2021 – CTExtension of due date for filing FORM GSTR – 1 for April, 202101 May, 202113/2021 – CTThird Amendment (2021) to CGST Rules01 May, 202114/2021 – CTExtension of specified compliance falling between 15.04.2021 to 30.05.2021 till 31.05.202115 April, 2021

Notfn. No. 08/2021 – CT, 01/2021 – IT and 01/2021 – UTT

The CG has further amended Notfn. No. 13/2017 – CT in order to provide relief by lowering the interest rates on delayed payment of tax for certain tax periods in the following manner:

Notfn. No. 09/2021 – CT

The CG has further amended Notfn. No. 76/2018 – CT, and inserted another proviso to provide that the late fee payable u/s 47 on failure to furnish FORM GSTR – 3B shall stand waived for a certain period as follows:

Notfn. No. 10/2021 – CT

The CG has further amended Notfn. No. 21/2019 – CT and inserted another proviso to provide that the due date to furnish FORM GSTR – 4 for the FY 2020-21 shall be 31 May, 2021.

Notfn. No. 11/2021 – CT

Through this notification, the CG has extended the due date to furnish FORM GST ITC – 04, to be furnished in respect of goods dispatched to a job worker or received from a job worker, during the period Jan – Mar, 2021, till 31 May, 2021.

Notfn. No. 12/2021 – CT

Through this notification, the CG has amended Notfn. No. 83/2020 – CT in order to provide that the time limit for furnishing FORM GSTR – 1 for the registered persons furnishing the same on monthly basis u/s 39(1), for April 2021, shall be extended till 26 May 2021.

Notfn. No. 13/2021 – CT

Notification No. 13/2021 – CT on 01 May, 2021 to further amend the CGST Rules, 2017, as amended from time to time. The following amendments have been brought in by the said notification –

Another proviso has been introduced after the first proviso to Section 36(4), wherein it is provided that the condition laid out in Rule 36(4) shall be applied cumulatively for the period of April and May, 2021 and FORM GSTR – 3B for May, 2021 shall be furnished with the cumulative adjustment of ITC for the said months according to the aforementioned condition.
This implies that the taxpayers need not consider the condition of Rule 36(4) while filing FORM GSTR – 3B for April, 2021, and avail the ITC on the basis of valid tax invoices received from his suppliers, irrespective of whether or not the same is appearing in the corresponding FORM GSTR – 2A. However, while filing FORM GSTR – 3B for May, 2021, he shall cumulatively apply the said rule for both April and May, 2021. In case he finds that he has availed less (or more) ITC in April, 2021, he may claim (or shall reverse) the differential amount of ITC in this return.A proviso has been inserted in Rule 59(2) to provide that a registered person, who has opted for the QRMP scheme may furnish the details of B2B supplies made in April, 2021 using the IFF, on or before 28 May, 2021. Prior to insertion of this proviso, the said date was 13 May, 2021, after which this option would have lapsed.

Notfn. No. 14/2021 – CT

The CG has notified that –

where any time limit for completion/ compliance of any action by any authority/ person has been specified/ prescribed/ notified under the Act, which falls during the period between 15 April to 30 May, 2021, and such action has not been made within such time, then the time limit for such completion/ compliance shall be extended upto 31 May, 2021, including for the purposes of –completion of any proceeding or passing of any order or issuance of any notice/ intimation/ notification/ sanction/ approval or any other action by any authority/ community/ tribunal under the Act, orfiling of any appeal/ reply/ application or furnishing of any report/ document/ return/ statement/ any other record, under the Actin cases where a notice has been issued for full/ part rejection of refund claim, and where the time limit for issuance of order u/s 54(5) falls between 15 April to 30 May, 2021, the time limit for issuance of the said order shall be extended to the later of15 days after the receipt of reply to the notice or31 May, 2021

However, such extension of time shall not be applicable for the following compliance under the CGSTA, 2017 –

Chapter IV [Time and Value of Supply]Section 10(3), 25, 27, 31, 37, 47, 50, 69, 90, 122, 129Section 68, to the extent of e-way bill

Also, where any time limit for completion of any action by any authority/ person as specified/ prescribed/ notified u/r 9 of the CGSTR, 2017, i.e., pertaining to verification of the application of registration and its approval, falls during May, 2021, and such action has not been made within such time, then the time limit for such completion shall be extended upto 15 June, 2021.

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