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GST UPDATE 05TH JUNE 2021

Laxman:Is there any relaxation in the due dates of GST due to COVID-19?

Ram: Yes, the due dates of GST have been extended due to COVID-19.

GSTR-3B (May, 2021)	Jun 20^th, 2021	GSTR-3B (Apr-Jun, 2021)	Jul 22, 24 2021
GSTR-1 (May, 2021)	Jun 26^th, 2021	IFF (Optional) (May,2021)	Jun 28th, 2021
GSTR-1 (Apr-Jun, 2021)	Jul13^th, 2021	CMP-08 (Apr-Jun, 2021)	Jul 18th, 2021
GSTR-4 (2020-21)	Jul31^st, 2021	GSTR-7 (May, 2021)	Jun 30th, 2021

Laxman: Is there any liability of late fee regarding GSTR-3B?

Ram: Late fee has been waived off for the period of 30 days whose turnover is upto Rs. 5 Crore and for a period of 15 days whose turnover is above Rs. 5 Crore in respect of Form GSTR-3B furnished beyond the due date for tax periods March, 2021 and April, 2021 (for taxpayers filing monthly returns) due in April 2021 and May 2021 respectively / and for period Jan-March, 2021 (for taxpayers filing quarterly returns under QRMP scheme) due in April 2021.

Laxman: What is the amount of late fee?

Ram:The late fee for non-furnishing of GSTR-3B for July 2017 to April 2021 has been capped at Rs 500 per return for those taxpayers who did not have any tax liability.
For those with tax liability, a maximum of Rs 1,000 per return late fees will be charged, provided such returns are filed by August 31, 2021


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