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Analysis of GST Notifications issued on date 01st June 2021

Posted on June 2, 2021
by CA Asha Sharma

To download complete Analysis Document, click below link

CBIC has issued following 12 notifications on date 01st June, 2021 under CGST Act :-

Sr. No.Notification No.Description
116/2021To bring into force sections 112 of Finance Act 2021, in order to bring amendment to Sections 50, CGST Act w.e.f. 01.06.2021  
217/2021 To extend due date for furnishing FORM GSTR-1 for the month of MAY, 2021 to 26/06/2021  
318/2021To provide conditional relief by lowering of interest rate for a prescribed time for specified person for tax periods from March, 2021 to May, 2021.  
419/2021Conditional waiver of Late fee , rationalization of late fee for delay in furnishing of GSTR 3B and Amnesty Relief in late fees for non furnishing of FORM GSTR-3B from July, 2017 to April, 2021.
520/2021Rationalization of late fee for delay in furnishing of the statement of outward supplies in FORM GSTR-1  
621/2021Rationalization of late fee for delay in filing of return in FORM GSTR-4  
722/2021Rationalization of late fee for delay in filing of return in FORM GSTR-7  
823/2021Non – applicability of E-Invoicing provisions for government departments and local authorities  
924/2021Extension in due date of compliances which fall during the period from “15.04.2021 to 29.06.2021” till 30.06.2021  
1025/2021To extend due date for furnishing FORM GSTR-4 for the Financial Year 2020-21 to 31/07/2021  
1126/2021To extend due date for furnishing FORM ITC-04 for the 4th Qtr of financial year 2020-21 to 30/06/2021  
1227/2021i)Extension of time of GST Return authentication via EVC by Company upto 31/08/2021 ii)Amendment in CGST Rule 36(4) for ITC available, cumulative for April to June 2021 iii) To extend time limit for furnishing IFF for the month of MAY 2021 upto 28/06/2021  

Notifications are issued for providing –

  • Extension of Due Date for filing of GSTR-1 / IFF;
  • Reduced Rate of Interest;
  • Conditional waiver of Late fees;
  • Rationalization in late fees payable on delay in filing of GSTR 3B, GSTR 1, GSTR 4 & GSTR 7
  • Amnesty Scheme for Non Filiers of GSTR 3B for the period from July 2017 to April 2021

To read detailed analysis of all notifications, click to download below document –