CBIC relaxes timelines for GST compliances in view of Covid-19 situation

The Central Board of Indirect Taxes and Customs through notifications dated 1st May, 2021 has provided relaxations in timelines for GST filings in view of the Covid-19 situation. The CBIC notification has provided that the return in FORM GSTR-3B for the tax period May, 2021 shall be furnished with the cumulative adjustment of input tax credit for the months April and May. It is also provided that a registered person may furnish such details, for the month of April, 2021, using IFF from the 1st day of May, 2021 till the 28th day of May, 2021.

The CBIC has further provided through notification that due date for filing details of outward supplies in FORM GSTR-1 for the tax period April, 2021, shall be extended till the twenty-sixth day of the month succeeding the said tax period. The fine for non filing of GSTR-1 for the months April and March, with effect from the 18th day of April, 2021, is relaxed through notification, as as follows:

1. For the taxpayers having an aggregate turnover of more than rupees 5 crores in the preceding financial year shall be 9 per cent for the first 15 days from the due date and 18 per cent thereafter;
2. For the taxpayers having an aggregate turnover of up to rupees 5 crores in the preceding financial year shall be Nil for the first 15 days from the due date, 9 percent for the next 15 days, and 18 percent thereafter.
3. For taxpayers having an aggregate turnover of up to rupees 5 crores in the preceding financial year shall be Nil for the first 15 days from the due date, 9 percent for the next 15 days, and 18 percent thereafter.

It is also provided by notification that when the time limit for filing of any appeal, reply or application or furnishing of any report,
document, return, statement or such other record as per the Central Goods and Services Tax Act, 2017 falls during the period from the 15th day of April, 2021 to the 30th day of May, 2021, and where completion or compliance of such action has not been made within such time, then, the time limit for completion or compliance of such action, shall be extended up to the 31st day of May, 2021.