Understanding the GST Compliance related Relief Measures

Table of Contents

1. Amnesty Scheme introduced to provide relief to taxpayers regarding late fees for pending GST Returns

2. Chargeability of Interest on delayed filing of GSTR-3B

3. Waiver of Late fees on delayed filing of GSTR-3B

4. Other Compliance Related Relaxations

5. Relaxation in time limit for completion and compliance under GST Law

6. Exemption Related Decisions

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1. Amnesty Scheme introduced to provide relief to taxpayers regarding late fees for pending GST Returns

• Late Fees for delay in Furnishing Form GSTR-3B for the tax period from July, 2017 to April, 2021 has been capped as follows :

• However, the reduced amount of late fee would apply only if GSTR-3B returns for these tax periods are furnished between 01.06.2021 to 30.11.2021.

Rationalization of Late fees – The Late Fees for delay in furnishing of Form GSTR-3B and GSTR-1 for prospective tax periods has been capped as mentioned below:

2. Chargeability of Interest on delayed filing of GSTR-3B for the Tax periods March 2021, April 2021 and May 2021

3. Waiver of Late fees on delayed filing of GSTR-3B for the Tax periods March 2021, April 2021 and May 2021 if filed till specified date

4. Other Compliance Related Relaxations

• Rule 36(4) for availing ITC shall apply cumulatively for the tax periods April 2021, May 2021 and June 2021 and the effect of the same needs to be considered in GSTR-3B for the month of June, 2021.

5. Relaxation in time limit for completion and compliance under GST Law

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 29th June, 2021 to be extended up to 30th June, 2021, subject to some exceptions.

Relaxation includes :

• Completion of any proceeding or passing of any order or issuance of any notice, intimation, notification, sanction or approval or such other action, by whatever name called, by any authority, commission or tribunal, by whatever name called, under the provisions of the Acts stated above.
• Filing of any appeal, reply or application or furnishing of any report, document, return, statement or such other record, by whatever name called, under the provisions of the Acts stated above.
• It has been further clarified that wherever the timelines for actions have been extended by the Hon’ble Supreme Court in its Order, the same would apply.

6. Exemption Related Decisions

• COVID-19 related goods such as medical oxygen, oxygen concentrators and other oxygen storage and transportation equipment, certain diagnostic markers test kits and COVID-19 vaccines, etc. have been recommended for full exemption from IGST, even if imported on payment basis, for donating to the government or on recommendation of state authority to any relief agency.
• This exemption shall be valid up to 31.08.2021.
• In view of rising Black Fungus cases, exemption from IGST has been extended to Amphotericin B.
• With respect to individual items, Group of Ministers (GoM) to be constituted to further decide relief to COVID-19 related individual items immediately. The GoM shall give its report by 08.06.2021.