NOTIFICATIONS ISSUED FOR IMPLEMENTING GST COUNCIL MEETING DECISIONS

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NOTIFICATIONS ISSUED FOR IMPLEMENTING GST COUNCIL MEETING DECISIONS

02/06/2021

NOTIFICATIONS ISSUED FOR IMPLEMENTING GST COUNCIL MEETING DECISIONS

Various notifications have been issued by the CBIC today to give effect to the recommendations of the 43^rd GST Council meeting. The same is as follows:

1. Notification No. 16/2021 – Central Tax: Dated 01/06/2021

Section 112 of the Finance Act providing for retrospective amendment in Section 50 of the CGST Act related to levy of interest has been notified w.e.f. 01.06.2021.

2. Notification No. 17/2021 – Central Tax: Dated 01/06/2021

The due date for furnishing details of outward supplies in Form GSTR-1 for the month of May-2021 has been extended from 11th June, 2021 to 26th June, 2021.

3. Notification No. 18/2021 – Central Tax Dated 01/06/2021

Providing relief by lowering of interest rate for late filing of monthly/quarterly returns in Form GSTR-3B or PMT-06 challans as well as for late filing of statement in Form CMP-08 by the composition tax payers.

4.  Notification No. 19/2021 – Central Tax: Dated 01/06/2021

Providing relief by waiving late fees for filing of Form GSTR-3B for the months of March, April & May 2021. Also amnesty scheme for non filling of GSTR-B return from the period 01.07.2017 to 30.04.2021.

5. Notification No. 20/2021 – Central Tax: Dated 01/06/2021

Rationalize late fee for delay in furnishing of the statement of outward supplies in form GSTR-1.

6. Notification No. 21/2021 – Central Tax: Dated 01/06/2021

Rationalisation of late fees leviable under Section 47 for delay in furnishing of return in FORM GSTR-4 has been done from the tax period 2021-22 onwards.

7.  Notification No. 22/2021 – Central Tax: Dated 01/06/2021

Rationalisation of late fees leviable under Section 47 for delay in furnishing of return in FORM GSTR-7 has been done from the tax period June 2021 onwards.

8. Notification No. 23/2021 – Central Tax: Dated 01/06/2021

Notification No. 13/2020 – CT has been amended to exempt government departments and local authorities from the mandatory requirement of generating e-invoices.

9. Notification No. 24/2021 – Central Tax: Dated 01/06/2021

Extend due date of compliances which fall during the period from the 15^th day of April,2021 to the 29^th day of June, 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 30^th day of June, 2021.

10.  Notification No. 25/2021 – Central Tax Dated 01/06/2021

The due date for furnishing return in Form GSTR-4 for the financial year ending 31^st March, 2021 has been extended from 30^th April, 2021 to 31^st July, 2021.

11.  Notification No. 26/2021 – Central Tax Dated 01/06/2021

The due date for furnishing the declaration in FORM GST ITC-04, in respect of goods dispatched to a job worker or received from a job worker, during the period from 1^st January, 2021 to 31^st March, 2021 has been extended to 30^th June, 2021.

12. Notification No. 27/2021 – Central Tax

Companies can  verified through electronic verification code (EVC) UP TO 31.08.2021.

Rule 36(4) shall apply cumulatively for the period April, May & June 2021 and the return in FORM GSTR-3B for the tax period June, 2021 or quarter ending June, 2021 shall be furnished with the cumulative adjustment of input tax credit for the said months.

The details using IFF for the month of May 2021 can be furnished till 28^th June, 2021.