The Finance Ministry has relaxed compliance norms for Goods and Services Tax (GST) assessees.
Accordingly, there will be no late fees for filing March/April 3B up to 15 days and 30 days from original due date for tax-payers with turnover more than ₹5 crore and up to ₹5 crore, respectively. For quarter-ending March 31, there will be no late fees if 3B is filed within 30 days from the original due date. Form 3B shows how much tax has been paid in cash and how much through credit. The due date for filing GSTR-4 (Annual Return for person who has opted for Composition Scheme) has been extended to May 31 from March 31.
Similarly, ITC-04 due date has been extended to May 31 for the January-March quarter. The GSTR-1 due date for April has been extended to May 26.
The Ministry has extended compliance of rule 36(4). Such conditions will apply cumulatively for the period between April and May. The return in form GSTR-3B for the tax period May shall be furnished with the cumulative adjustment of input tax credit for the said months in accordance with the conditions.