Page 110 - economic_survey_2021-2022

84 Economic Survey 2021-22

Changes in GST Law and Procedure: The following measures were undertaken for trade
facilitation and ease of doing business under GST in 2021-22:

¾ To provide relief to the taxpayers from high amount of late fee accumulated on pending
GSTR-3B returns, a late fee amnesty scheme has been brought out in respect of pending
returns in FORM GSTR-3B for the tax periods from July, 2017 to April, 2021.

¾ To reduce burden of late fee on smaller taxpayers, late fee structure (under section 47 of the
CGST Act) has been rationalized for prospective tax periods from June 2021 onwards by
aligning the upper cap of late fee with tax liability/ turnover of the taxpayers.

¾ Retrospective amendment of section 50 of CGST Act, 2017 was done to provide interest
payment on net cash basis with effect from 01.07.2017 to facilitate the taxpayers and to help
in removing ambiguity and disputes regarding payment of interest on gross tax basis or net
cash basis.

¾ Instead of quarterly requirement to file FORM GST ITC-04 return, containing details of
all goods sent to job worker and received from job worker, it has been made an annual
requirement for taxpayers having annual aggregate turnover in preceding financial year is
up to ` 5 crores and once in six months for taxpayers having annual aggregate turnover in
preceding financial year above ` 5 crores.

COVID Related Relief Measures

Several measures were taken by CBIC for facilitating Customs clearances of all materials related
to COVID-19 during 2021-22.

¾ CBIC had issued notifications to exempt customs duty on import of Remdesivir injection,
Remdesivir API and Beta Cyclodextrin (SBEBCD) used in the manufacture of Remdesivir
(up to 31 October, 2021), and also on import of various items related to Oxygen and
st
Oxygen related equipment (for a period of three months).

¾ During the second wave of COVID-19 pandemic, the Customs has facilitated the import
of approx. 7.5 Lakh Oxygen Concentrators into the country. More than 75 IAF landings
were facilitated for import of 97 Cryogenic ISO tanks for carrying of liquid oxygen across
the country. Other products facilitated on high priority includes Oxygen generating plants,
equipments, ventilators, Remdesivir Injection and its raw materials, diagnostics kits markers
etc.

¾ In view of the challenges faced by taxpayers in meeting the statutory and regulatory
compliances under GST law due to the outbreak of the second wave of COVID-19, the
Government has issued notifications providing various relief measures for taxpayers. Some
of these measures are reduction in rate of interest for delayed tax payments, waiver of
late fee, extension of due date for filing of return, extension of statutory time limits under
section 168A of the CGST Act. A dedicated helpdesk was set up to handhold the trade and
handle grievances of the trade across the country.