Analysis of procedural amendments recommended by GST Council Meeting held on 28th May 2021

1. One-time amnesty scheme for default in filing GST Returns Late fees for filing of Form GSTR 3B for the period July 2017 to April 2021 has been capped as follows (provided the return is filed between 1st June 2021 to 31st August 2021): i) Taxpayers with no liability: Rs. 500/- per return ii) Other taxpayers: Rs. 1,000/- per return 2. Rationalisation of late fees for prospective returns

3. Relief by way of reduction of late fees and interest for the period March 2021- May 2021

i) Composite Dealers

ii) Small taxpayers with turnover upto Rs. 5 crores and who are under QRMP scheme

iii) Small taxpayers with turnover upto Rs. 5 crores and who have opted monthly filing

iv). Taxpayers with turnover above Rs. 5 crores

4. Others i) Due date of filing Form ITC-04 extended from 25.04.2021 to 30.06.2021 ii) Conditions to avail ITC on the basis of invoices uploaded by Supplier as per Form GSTR 2A/2B shall apply cumulatively for April 2021, May 2021 and June 2021. Form GSTR 3B for June 2021 shall be filed with cumulative adjustment of ITC for the said months. iii) Relaxation with respect to filing of returns by companies through EVC instead of DSC extended till 31.08.2021. iv) Every registered person whose turnover is more than Rs. 2 crores for FY 2020-21 shall be required to file Annual Return in Form GSTR 9 and those with turnover above Rs. 5 crores shall also be required file Form GSTR 9C.