ITC Relaxation for the Month of April and May 2021
Rule 36(4) Of CGST Rules Provides that there is a capping with respect to ITC Available which is 105% ITC Can be availed during the course of Filing GSTR - 3B of each month , but amidst the time of Covid-19 the government has provided relaxation on restriction of 36(4) for the month of April and May 2021 , that ITC can be cumulatively adjusted in the return of May 2021 .
NOTIFICATION
New Delhi, the 1st May, 2021
No. 13/2021 – Central Tax
G.S.R. 309(E).—In exercise of the powers conferred by section 164 of the Central Goods and Services Tax Act, 2017 (12 of 2017), the Government, on the recommendations of the Council, hereby makes the following rules further to amend the Central Goods and Services Tax Rules, 2017, namely:-
1. Short title and commencement. -(1) These rules may be called the Central Goods and Services Tax (Third Amendment) Rules, 2021.
(2) These rules shall come into force on the date of their publication in the Official Gazette.
2. In the Central Goods and Services Tax Rules, 2017,----
(i) in sub-rule (4) of rule 36, after the first proviso, the following proviso shall be inserted, namely: -
“Provided further that such condition shall apply cumulatively for the period April and May, 2021 and the return in FORM GSTR-3B for the tax period May, 2021 shall be furnished with the cumulative adjustment of input tax credit for the said months in accordance with the condition above.”;
(ii) in sub-rule (2) of rule 59, the following proviso shall be inserted, namely:-
“Provided that a registered person may furnish such details, for the month of April, 2021, using IFF from the 1st day of May, 2021 till the 28th day of May, 2021.”.
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