GST due dates revised

The Government has allowed great relief to the taxpayers by extending the deadlines to file various GST returns due to the ongoing Pandemic situation in the country. The Government also waived off the late fee payable for the delayed filing of GSTR-3B. 

The Central Board of Indirect Taxes and Customs (CBIC) issued various notifications and has waived off the late fee for GSTR-3B for the months of April and May 2021. The exemption is available for a delay of up to 15 days and 30 days from original due date for taxpayer with turnover more than 5 crores and up to 5 crores respectively.

No late fees are leviable if the return is filed by 30 days from original due date for quarter ending 31st March 2021 according to the notification. The Government also extended the due date for GSTR-4 till 31st May 2021 through a separate notification. The deadline for ITC-04 has been extended to 31st May for Jan-Mar quarter.
The due date for GSTR-1 for April 2021 got extended to 26th May and IFF due date extended to 28th May. The Government further relax the levy of interest for non-payment/short payment or delay in the payment of tax dues for the months of April and May 2021.

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Krishna Rath is a SEBI Registered Investment Adviser, and since 2015 has been educating netizens on investments and insurance. Krishna is a fee only SEBI RIA and is Odisha's first SEBI RIA. With background in IT, Krishna is changing the advisory space with new innovations in AdvisoryTech.

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