COVID 19 Relief
Goods such as medical oxygen, oxygen concentrator, and others, are recommended to have a complete exemption from IGST. And the exemption will be valid till 31st Aug, 2021
Group of Ministers (GoM)
GoM will be constituted for further relief in COVID-19 relief items
Reduction in Rate of GST of medicines.
Amnesty Scheme to provide relief to taxpayers, for pending GST Returns
Amnesty for GSTR-3B for the Period July 2017 to April 2021
Late fee capped maximum Rs. 500/- per return (in case of no tax liability)
Late fee capped maximum Rs. 1,000/- per return (in all other cases)
The reduced late fee will be applicable only if GSTR-3B is filed between 01.06.2021 to 31.08.2021
Further Rationalization of late fee in GST Law (GSTR 3B and 1)
The upper cap of late fee is rationalized on the basis of turnover, as follows:
| Turnover/Detail | GST Return | Late Fee Cap |
| Nil Tax Liability or No Outward Supplies | GSTR 3B/GSTR 1 | 500 |
| Turnover up to 1.5 crore | GSTR 3B/GSTR 1 | 2,000 |
| Turnover more than 1.5 crore but less than 5 crore | GSTR 3B/GSTR 1 | 5,000 |
| Turnover above 5 crore | GSTR 3B/GSTR 1 | 10,000 |
| Composition Taxpayer, Nil Tax Liability | GSTR 4 | 500 |
| Composition Taxpyer, other | GSTR 4 | 2,000 |
| Tax deductor in GST | GSTR 7 | 2,000 |
Relief in GST Return Due Date and Interest Liability
| Tax Period | Turnover | Return Type | Relief in due Date | Reduced Rate of Interest |
| March and April 2021 | Turnover up to 5 crore | GSTR 3B or PMT 06 | First 15 days from the due date | Nil |
| March and April 2021 | Turnover up to 5 crore | GSTR 3B or PMT 06 | 45 days and 30 days for March and April, respectively | 9% |
| March and April 20201 | Turnover up to 5 crore | GSTR 3B | Late fee waiver, 60 days for March and 45 days for April, from due date | |
| QE March 2021 | Composition Dealer | 45 days from the due date | 9% | |
| May 2021 | Turnover up to 5 crore | GSTR 3B or PMT 06 | First 15 days from the due date Further 15 days | Nil 9% |
| May 2021 | Turnover up to 5 crore | GSTR 3B | Late fee waiver for 30 days from the due date | |
| May 2021 | Turnover above 5 crore | GSTR 3B | First 15 Days | 9% |
| May 2021 | Turnover above 5 crore | GSTR 3B | Late fee waiver, 15 days from the due date | |
| May 2021 | GSTR 1/IFF | Late fee waiver for 15 days from due date | ||
| FY 2020-21 | Composition Dealer | GSTR 4 | due date extended to 31st July, 2021 | |
| QE Mar 2021 | ITC-04 | due date extended to 30th June 2021 |
Further Updates
Companies can file GST Return by EVC, till 31st Aug 2021
Relaxation in the time limit for various actions extended to 30th June 2021
GSTR 9C: Now taxpayers can self attest GSTR 9C, and it needed to be filed by taxpayers having turnover above 5 crore
GSTR 9: Optional for taxpayers having turnover up to 2 crore
Retrospective Amendment in GST law for interest on net tax liability
Summary: The most welcome amendments are proposed in the GST council meeting, such as GST amnesty scheme, an extension of due dates and reduction and exemption in medical products and medicines related to COVID 19 and fungus.
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