{"id":883,"date":"2021-05-05T09:23:19","date_gmt":"2021-05-05T09:23:19","guid":{"rendered":"https:\/\/www.gstrobo.com\/blog\/?p=883"},"modified":"2021-06-04T10:27:26","modified_gmt":"2021-06-04T10:27:26","slug":"relief-for-gst-taxpayers-during-covid","status":"publish","type":"post","link":"https:\/\/gstrobo.com\/blog\/relief-for-gst-taxpayers-during-covid\/","title":{"rendered":"Relief for GST Taxpayers during COVID"},"content":{"rendered":"\n

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). <\/p>\n\n\n\n

\"relief-for-gst-taxpayers-during-covid\"<\/figure><\/div>\n\n\n\n

Interest Rates Relief during COVID <\/h2>\n\n\n\n
S.No<\/strong>.<\/strong> <\/td>Aggregate Turnover<\/strong> <\/td>Relief in interest rates<\/strong> <\/td><\/tr>
1 <\/td>Up to INR 5 crore <\/td>For the first 15 days Nil rate of interest rate
For the next 15 days 9%, and 18% thereafter <\/td><\/tr>
2 <\/td>More than INR 5 crore <\/td>For the first 15 days 9% rate of interest rate And 18% thereafter <\/td><\/tr>
3 <\/td>Composition scheme holder <\/a><\/td>For the first 15 days Nil rate of interest rate
For the next 15 days 9%, and 18% thereafter <\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

Late Fee Waiver Relief during COVID <\/h2>\n\n\n\n
S.No<\/strong> <\/td>Aggregate Turnover<\/strong> <\/td>Late Fee<\/strong> Waiver<\/strong> <\/td><\/tr>
1 <\/td>Up to INR 5 crore <\/td>30 days if GSTR-3B<\/a> is furnished before the due date <\/td><\/tr>
2 <\/td>More than INR 5 crore <\/td>15 days if GSTR-3B is furnished before the due date <\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

GST Return Due Dates Extended <\/h2>\n\n\n\n
S.No<\/strong> <\/td>GSTR<\/strong> <\/td>Previous <\/strong>Tax Period<\/strong> <\/td>Revised Due date<\/strong> <\/td><\/tr>
1 <\/td>GSTR-1<\/a> including IFF <\/td>April 21 <\/td>26 May 21 <\/td><\/tr>
2 <\/td>GSTR-4 <\/td>FY 20-21 <\/td>31 May 21 <\/td><\/tr>
3 <\/td>ITC-04 <\/td>Jan – Mar 21 <\/td>31 May 21 <\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

Other Reliefs for GST Taxpayers during COVID <\/h2>\n\n\n\n
  1. The taxpayer utilizing electronic check code can now file GSTR-3B, GSTR-1, IFF<\/a> as the facility has been enabled for the period from 27th<\/sup> April 2021 – 31st<\/sup> May 2021.  <\/li>
  2. The time limit to complete activities by any authority under the GST Act, falling between 15th<\/sup> April 2021 \u2013 30th<\/sup> May 2021, has been moved to 31st<\/sup> May 2021.  <\/li>
  3. The due date to avail ITC<\/a> in GSTR-3B for the period between April and May 2021 has been stretched out to May 2021. <\/li><\/ol>\n","protected":false},"excerpt":{"rendered":"

    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 … <\/p>\n","protected":false},"author":1,"featured_media":987,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"ub_ctt_via":"","_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[68],"tags":[328,327],"class_list":["post-883","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-gst","tag-covid-relief","tag-gst-relief-during-covid"],"aioseo_notices":[],"featured_image_src":"https:\/\/gstrobo.com\/blog\/wp-content\/uploads\/2021\/05\/relief-for-gst-taxpayers-during-covid.png","author_info":{"display_name":"GSTrobo","author_link":"https:\/\/gstrobo.com\/blog\/author\/gstblog\/"},"_links":{"self":[{"href":"https:\/\/gstrobo.com\/blog\/wp-json\/wp\/v2\/posts\/883","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/gstrobo.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/gstrobo.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/gstrobo.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/gstrobo.com\/blog\/wp-json\/wp\/v2\/comments?post=883"}],"version-history":[{"count":3,"href":"https:\/\/gstrobo.com\/blog\/wp-json\/wp\/v2\/posts\/883\/revisions"}],"predecessor-version":[{"id":998,"href":"https:\/\/gstrobo.com\/blog\/wp-json\/wp\/v2\/posts\/883\/revisions\/998"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/gstrobo.com\/blog\/wp-json\/wp\/v2\/media\/987"}],"wp:attachment":[{"href":"https:\/\/gstrobo.com\/blog\/wp-json\/wp\/v2\/media?parent=883"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/gstrobo.com\/blog\/wp-json\/wp\/v2\/categories?post=883"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/gstrobo.com\/blog\/wp-json\/wp\/v2\/tags?post=883"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}