Relief for GST Taxpayers during COVID

The second wave of COVID has halted and impacted the Indian economy once again. There are no indications of any improvement soon. Henceforth, the CBIC has chosen to provide relief to GST taxpayers during this unprecedented event (COVID). 

Interest Rates Relief during COVID 

S.No.	Aggregate Turnover	Relief in interest rates
1	Up to INR 5 crore	For the first 15 days Nil rate of interest rate For the next 15 days 9%, and 18% thereafter
2	More than INR 5 crore	For the first 15 days 9% rate of interest rate And 18% thereafter
3	Composition scheme holder	For the first 15 days Nil rate of interest rate For the next 15 days 9%, and 18% thereafter

Late Fee Waiver Relief during COVID 

S.No	Aggregate Turnover	Late Fee Waiver
1	Up to INR 5 crore	30 days if GSTR-3B is furnished before the due date
2	More than INR 5 crore	15 days if GSTR-3B is furnished before the due date

GST Return Due Dates Extended 

S.No	GSTR	Previous Tax Period	Revised Due date
1	GSTR-1 including IFF	April 21	26 May 21
2	GSTR-4	FY 20-21	31 May 21
3	ITC-04	Jan – Mar 21	31 May 21

Other Reliefs for GST Taxpayers during COVID 

1. The taxpayer utilizing electronic check code can now file GSTR-3B, GSTR-1, IFF as the facility has been enabled for the period from 27^th April 2021 – 31^st May 2021.  
2. The time limit to complete activities by any authority under the GST Act, falling between 15^th April 2021 – 30^th May 2021, has been moved to 31^st May 2021.  
3. The due date to avail ITC in GSTR-3B for the period between April and May 2021 has been stretched out to May 2021.