LAST DATE EXTENDED TILL 31.5.2021 TO FILE ANNUAL RETURN IN FORM GSTR-4 FOR COMPOSITION OPTED TAXPAYERS FOR FY 2021-21.
The Goods and Services Tax Act, 2017 came into force with effect from
1.7.2017 in India.
The Composition opted persons were paying taxes and filing their
returns as shown below:
|
2020-2021 |
||
|
PERIOD |
RETURN TYPE |
DUE DATE |
|
APR-JUN |
FORM GST CMP-08 |
18.07.2020 |
|
JUL-SEP |
FORM GST CMP-08 |
18.10.2020 |
|
OCT-DEC |
FORM GST CMP-08 |
18.01.2021 |
|
JAN-MAR |
FORM GST CMP-08 |
18.04.2021 |
|
APR 2020 TO MAR 2021 ANNUAL
RETURN |
FORM GSTR-4 |
30.04.2021 |
The composition opted persons were paying GST on quarterly basis
through FORM GST CMP-08.
The Central Government has extended the last date to file Annual GST
Return in FORM GSTR-4 for composition opted persons from 30.4.2021 to 31.5.2021
due to outbreak of second wave of COVID-19 as per Notification No. 10/2021-Central
Tax dated 1.5.2021.
The Central Government has also announced concessional rates of
interest for registered persons who opted to pay tax under composition scheme
at “NIL” rate of interest for the first 15 days from the due date of payment of
tax and at 9% for the for the next 15 days, and at 18% thereafter for the
quarter ended 31.3.2021 vide Notification No.8/2021 Central Tax, dated
1.5.2021.
The relevant Notifications are given below for ready reference:
[To be published in the
Gazette of India, Extraordinary, Part II, Section 3,
Sub-
section (i)]
Government of India Ministry
of Finance (Department of Revenue)
Central
Board of Indirect Taxes
and
Customs
Notification No. 10/2021 – Central
Tax
New Delhi, the 1st May, 2021
G.S.R.....(E).— In exercise of the powers conferred by section 148 of the Central
Goods and Services Tax Act,
2017 (12 of 2017), the Government, on the recommendations of the Council, hereby makes the following
further amendments in
the notification of the Government of India in the Ministry of Finance (Department of Revenue), No. 21/2019- Central Tax, dated the 23rd April, 2019, published in the
Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) vide number G.S.R.
322(E),
dated the 23rd April, 2019, namely:–
In the said notification, in the
third paragraph, after
the first proviso, the following
proviso shall be inserted, namely: –
“Provided further that the said persons shall furnish the return in FORM GSTR-4 of the Central Goods and Services Tax Rules, 2017, for
the financial year
ending 31st March, 2021,
upto the 31st day of
May,
2021.”.
2. This notification shall be deemed to have come into force with effect from the 30th
day of April,
2021.
[F. No. CBEC-20/06/08/2020-GST]
(Rajeev Ranjan)
Under Secretary to
the
Government of India
Note: The principal notification No. 21/2019- Central Tax, dated the 23rd April, 2019, was published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section
(i) vide number G.S.R. 322(E), dated the 23rd April, 2019 and was last amended by notification No. 64/2020-Central Tax, dated the 31st August, 2020, published in the
Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) vide number G.S.R.
539(E), dated
the 31st August, 2020.
[To be published in the
Gazette of India, Extraordinary, Part II, Section 3,
Sub-
section (i)]
Government of India Ministry
of Finance (Department of Revenue)
Central
Board of Indirect Taxes
and
Customs
Notification No. 08/2021 – Central
Tax
New Delhi,
the 1st May, 2021
G.S.R.....(E).- In exercise of the powers conferred by
sub-section (1) of section 50 of the Central Goods and Services Tax Act, 2017 (12 of
2017) read with section 148 of the said Act, the Government, on the recommendations of the Council, hereby makes the following further amendments
in notification of
the Government of India
in the Ministry of Finance (Department of Revenue), No. 13/2017
– Central Tax, dated the
28th June, 2017, published in the Gazette of India, Extraordinary, Part II, Section 3,
Sub-section (i)
vide number G.S.R. 661(E), dated the 28th June, 2017, namely:–
(i) In the said notification, in the first paragraph, in the first proviso,
in the Table after S. No. 3, the following shall be inserted, namely: –
|
(1) |
(2) |
(3) |
(4) |
|
“4. |
Taxpayers
having
an aggregate
turnover
of more
than
rupees
5
crores
in
the
preceding financial year |
9 per cent
for the first 15 days
from the due date and 18 per cent
thereafter |
March, 2021, April,
2021 |
|
5. |
Taxpayers having an aggregate turnover of up to rupees 5 crores in the preceding financial
year who are liable to furnish
the return as specified under
sub-section (1)
of section 39 |
Nil for the first 15 days from the
due date, 9 per cent for the next 15 days, and 18 |
March, 2021, April,
2021 |
|
|
|
per cent thereafter |
|
|
6. |
Taxpayers having an aggregate turnover of up to rupees 5 crores in the preceding financial
year who are liable to furnish
the return as specified under proviso to sub-section
(1) of section 39 |
Nil for the first 15 days from the
due date, 9 per cent for the next 15 days, and
18 per cent thereafter |
March, 2021, April,
2021 |
|
7. |
Taxpayers who are liable to furnish
the return as specified under sub-section
(2) of section
39 |
Nil for the first 15 days from the
due date, 9 per cent for the next 15 days, and
18 per cent thereafter |
Quarter ending March, 2021.”. |
2. This notification shall be deemed to have come into force with effect from the 18th
day of April,
2021.
[F.
No. CBEC-20/06/08/2020-GST]
(Rajeev Ranjan) Under Secretary to the Government
of India
Note: The principal notification number
13/2017 – Central Tax, dated the 28th June,
2017, was published in the
Gazette
of India,
Extraordinary, Part II, Section 3, Sub-
section (i) vide number
G.S.R. 661(E), dated the 28th June, 2017 and was
last amended vide notification number 51/2020 – Central Tax, dated the 24th June, 2020, published
in the Gazette
of India, Extraordinary, Part II, Section 3, Sub-section (i) vide number G.S.R. 404(E), dated
the 24th June, 2020.
Government of India Ministry
of Finance Department of Revenue
Central Board of Indirect
Taxes & Customs
PRESS RELEASE
New Delhi, 2nd May,
2021
In view of the challenges faced by taxpayers in meeting the statutory and regulatory compliances under
GST law due to the outbreak of
the second wave of COVID-19, the
Government has issued notifications, all dated 1st May, 2021, providing various relief measures
for taxpayers.
These measures are explained
below:
1.Reduction in rate of interest:
Concessional rates of interest in lieu of the normal rate of interest of 18% per annum for delayed tax payments
have
been prescribed in the following
cases-
a. For registered persons having aggregate turnover above Rs. 5 Crore:
A lower rate
of
interest of 9 per cent for the
first 15 days from the
due date
of payment of tax and 18 per
cent thereafter, for
the tax payable for tax periods
March 2021 and April 2021, payable in April 2021 and
May
2021 respectively,
has
been notified.
b. For registered persons having aggregate
turnover upto Rs. 5 Crore: Nil rate of interest for
the first 15 days from the due date of payment of tax,
9 per cent for the next 15 days,
and
18 per cent thereafter, for both
normal taxpayers and those under QRMP scheme, for the
tax payable for the periods March 2021 and April 2021, payable in April 2021 and May
2021
respectively, has been notified.
c. For registered persons who have opted to pay tax under the Composition scheme: NIL rate of interest for first 15 days from the due date of
payment of
tax and 9 per cent for the
next 15 days, and 18 per cent thereafter has been notified for the tax payable for the quarter ending 31st March,
2021, payable
in April 2021.
2.Waiver of late fee
a. For registered persons
having aggregate turnover
above Rs. 5 Crore: Late fee waived
for 15 days in respect of returns in FORM GSTR-3B furnished beyond the due date for tax periods March, 2021 and April, 2021, due in the April 2021 and May 2021 respectively;
b. For registered persons having aggregate turnover
upto
Rs. 5 Crore: Late fee
waived for 30 days in respect of the
returns in 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.
3.
Extension of due date of filing GSTR-1, IFF, GSTR-4
and
ITC-04
a. Due date
of filing FORM GSTR-1 and
IFF for the month
of April (due in May)
has been extended
by
15 days.
b.
Due date of filing FORM GSTR-4 for FY 2020-21 has been extended from 30th April,
2021 to 31st May, 2021.
c. Due date of furnishing FORM ITC-04 for Jan-March, 2021 quarter has been extended
from 25th April, 2021 to
31st May, 2021.
4.
Certain
amendments in CGST
Rules:
a. Relaxation in availment of ITC: Rule 36(4) i.e. 105% cap on availment of ITC in FORM GSTR-3B to be applicable on cumulative basis for period April and May 2021, to be applied
in the return for tax period May 2021. Otherwise, rule 36(4) is applicable
for
each tax period.
b. The filing
of GSTR-3B and GSTR-1/ IFF by companies using electronic verification code has
already been enabled for the period from
the
27.04.2021 to 31.05.2021.
5. Extension in statutory time limits under section 168A of the CGST Act: Time limit for
completion of various actions, by any authority or by any person, under the GST Act, which falls during
the period from 15th April, 2021 to 30th May, 2021, has been extended upto 31st May,
2021, subject
to some exceptions as specified
in the notification.
*****
[This note presents the notifications in simple language for ease of understanding.
For details, please refer to the notifications
issued in this regard,
which shall have force of law.]