GST:Waiver Late Fees & Interest on GST Returns - Big relief
Government has granted waiver from payment of interest and/or late fee to normal (Monthly / Quarterly) & composition taxpayers for the tax periods of March and April, 2021, through Central Tax Notification Nos. 08/2021 and 09/2021, both dated 1st May, 2021. The details are summarized below:
(1) Relaxation to normal taxpayers in filing of monthly return in Form GSTR-3B
| Sl. No. | Tax Period |
Class of taxpayer (Based on AATO) |
Due date of filing |
First 15 days from due date Rate of Interest |
Next 15 days Rate of Interest |
From 31st day onwards Rate of Interest |
Waiver of late fee till |
| 1 | March, 2021 | > Rs. 5 Cr | 20th April | 9% | 18% | 18% | 5th May, 2021 |
| March, 2021 | Up to Rs. 5 Cr | 20th April | Nil | 9% | 18% | 20th May, 2021 | |
| 2 | April, 2021 | > Rs. 5 Cr. | 20th May | 9% | 18% | 18% | 4th June, 2021 |
| April, 2021 | Up to Rs. 5 Cr | 20th May | Nil | 9% | 18% | 19th June, 2021 |
(2) Relaxation in filing of Form GSTR-3B (Quarterly) by Taxpayers under QRMP Scheme
| Sl. No. | Tax Period |
Class of taxpayer (Based on AATO) |
Due date of filing | First 15 days from due date | Next 15 days | From 31st day onwards | Waiver of late fee till |
| 1 | March, 2021 | Form GSTR-3B (Quarterly) |
22/24th April, 2021, (Group A/B) |
Nil | 9% | 18% |
22/ 24th May, 2021, (Group A/B) |
| 2 | April, 2021 | Form GST PMT-06 | 25th May, 2021 | Nil | 9% | 18% | NA |
(3) Relaxations in filing Form CMP-08 for Composition Taxpayers : For Quarter of Jan-March, 2021, instead of 18th April, 2021, Composition Taxpayers can now file their quarterly return in Form CMP-08, without interest up to 3rd May, 2021, with 9% reduced interest between 4th May to 18th May, 2021, and with 18% interest from 19th May, 2021 onwards.