GST Important Updates Offering Relief to Taxpayers

A. CBIC extends the timeline for filing of the application for revocation of cancellation of registration

The CBIC has extended the timelines for filing of application for revocation of cancellation of registration to 30^th September, 2021, where the due date of filing of application for revocation of cancellation of registration falls between 01.03.2020 to 31.08.2021. The extension would be applicable only in those cases where registrations have been cancelled under clause (b) or clause (c) of sub-section (2) of section 29 of the CGST Act.

Reference:

Section 29(2)(b): a person paying tax under section 10 has not furnished returns for 3 consecutive tax periods.

Section 29(2)(c): any registered person, other than a person specified in clause (b), has not furnished returns for a continuous period of6 months.

B. CBIC amends Form GST ASMT-14 via CGST (Seventh Amendment) Rules, 2021

The CBIC has notified a new set of rules to amend the existing Central Goods and Services Tax Rules, 2017 which shall come into force as on the date of its publication in the Official Gazette.

- The filing of FORM GSTR-3B and FORM GSTR-1/ IFF by companies using EVC, instead of DSC has already been enabled for the period from 27.04.2021 to 31.08.2021. This has been further extended upto 31^st October, 2021. [Rule 26(1) fourth proviso]

- W.e.f. 1^st November, 2021, all the provisos to Rule 26(1) shall be omitted.

- W.e.f. 1^st May, 2021, in Rule 138E, after the fourth proviso, the following proviso shall be inserted, namely-

Provided also that the said restriction shall not apply during the period from the 1^stday of May, 2021 till the 18^th day August, 2021, in case where the return in FORM GSTR-3B or the statement of outward supplies in FORM GSTR-1 or the statement in FORM GST CMP-08, as the case may be, has not been furnished for the period March,2021 to May, 2021.

- in FORM GST ASMT-14:

(a) after the words, "with effect from ------", the words, "vide Order Reference No. -------, dated ------" shall be inserted.

(b) the words, "for conducting business without registration despite being liable for registration" shall beomitted.

(c) at the end after "Designation", the word "Address" shall be inserted.

C. CBIC extends late fee amnesty scheme to 30th November 2021

The CBIC vide Notification No. 19/2021- Central Tax, dated 01.06.2021, had provided relief to the taxpayers by reducing/ waiving late fee for non-furnishing FORM GSTR- 3B for the tax periods from July, 2017 to April, 2021, if the returns for these tax periods are furnished between 01^st June, 2021 to 31^st August, 2021. The last date to avail benefit of the late fee amnesty scheme has now been extended from existing 31^st August, 2021 to 30^th November, 2021.