43rd GST Council Meeting Proposals Notified by CBIC

Proposals made by GST Council in its 43rd Meeting have been notified by the Central Board of Indirect Taxes & Customs [CBIC] vide GST Notifications dated 1st June 2021.

Notification Summary is as follows:

Notification No. 16/2021 – Central Tax

• Applicability of GST Interest Net of Tax with effect from 1st July 2017.

Notification No. 17/2021 – Central Tax

• Due date for filing Form GSTR-1 for Taxpayers not opting for QRMP extended to 26^th June 2021 for the Month of May 2021

Notification No. 18/2021 – Central Tax

• Further Extension given for Tax Payment in GSTR-3B & GST PMT-06 for months of March, April & May 2021 amid COVID

Notification No. 19/2021 – Central Tax

• Further Extension given for Late Fees Payment in GSTR-3B for months of March, April & May 2021 amid COVID
• Rationalization of GST Late Fees – GSTR-3B
• GST Amnesty Scheme

Notification No. 20/2021 – Central Tax

• Rationalization of GST Late Fees – GSTR-1

Notification No. 21/2021 – Central Tax

• Rationalization of GST Late Fees – GSTR-4 by Composition Supplier

Notification No. 22/2021 – Central Tax

• Rationalization of GST Late Fees – GSTR-7

Notification No. 23/2021 – Central Tax

• The government department and a local authority exempted from E-Invoicing

Notification No. 24/2021 – Central Tax

Relaxations under section 168A of the CGST Act

Time limit for completion

(a)  completion of any proceeding or passing of any order or issuance of any notice, intimation, notification, sanction or approval or such other action, by whatever name called, by any authority, commission or tribunal, by whatever name called, under the provisions of the Acts stated above; or

(b) filing of any appeal, reply or application or furnishing of any report, document, return, statement or such other record, by whatever name called, under the provisions of the Acts stated above;

which falls during the period from 15th April, 2021 to 29^th June, 2021, to be extended upto 30th June, 2021

but, such extension of time shall not be applicable for the compliances of the following provisions of the said Act, namely: –

• Chapter IV; [Time & Value of Supply]
• sub-section (3) of section 10, [Composition Dealer] sections 25, 27, [Registration] 31, [Tax Invoice] 37, [GSTR-1] 47, [Late Fees] 50, [Interest] 69, [Power to Arrest] 90, [Liability of partners of firm to pay tax] 122, [Penalty for certain offences] 129; [Detention, seizure and release of goods and conveyances in transit]

(c) section 39, except sub-section (3), [TDS: GSTR-7] (4) [ISD: GSTR-6] and (5) [NR: GSTR-5];

(d) section 68, in so far as e-way bill is concerned; and [Inspection of Goods in Moment]

(e) rules made under the provisions specified at clause (a) to (d) above

Notification No. 25/2021 – Central Tax

• Due Date for Furnishing GSTR-4 For FY 2020-21 extended to 31^st July 2021

Notification No. 26/2021 – Central Tax

• Due Date for filing ITC-04 for QE March 2021 extended to 30.06.2021.

Notification No. 27/2021 – Central Tax

• EVC Verification for a registered person registered under the provisions of the Companies Act, 2013 for GSTR-1 & GSTR-3B Extended Upto 31^st August 2021.
• Cumulative application of rule 36(4) for availing ITC for tax periods April, May and June, 2021 in the return for the period June, 2021.
• Due Date for Filing Invoice Furnishing Facility [IFF] for Month of May 2021 for Taxpayers registered under QRMP extended to 28^th day of June, 2021

Notification No. 02/2021 – Integrated Tax

• Further Extension given for Tax Payment in GSTR-3B & PMT-06 for months of March, April & May 2021 amid COVID – Integrated Tax

Notification No. 02/2021 – Union Territory Tax

• Further Extension given for Tax Payment in GSTR-3B & PMT-06 for months of March, April & May 2021 amid COVID – Union Territory Tax