Notification No. 26/2021 – Central Tax ITC-04 Extension

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Notification No. 26/2021 – Central Tax: Seeks to extend the due date for furnishing of FORM ITC-04 for QE March, 2021 to 30.06.2021.

[To be published in the Gazette of India, Extraordinary, Part II, Section 3, Sub- section (i)]

G.S.R….. (E).- In exercise of the powers conferred by section 168 of the Central Goods and Services Tax Act, 2017 (12 of 2017) and sub-rule (3) of rule 45 of the Central Goods and Services Tax Rules, 2017, the Commissioner, with the approval of the Board, hereby makes the following amendment in the notification of the Government of India in the Ministry of Finance (Department of Revenue), No. 11/2021- Central Tax, dated the 1^st May, 2021, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) vide number G.S.R. 307(E), dated the 1^st May, 2021, namely:—

In the said notification, in the first paragraph, for the figures, letters and words “31^st day of May, 2021”, the figures, letters and words “30^th day of June, 2021” shall be substituted.

2. This notification shall be deemed to have come into force with effect from the 31^st day of May, 2021.

(Rajeev Ranjan)
Under Secretary to the Government of India

Note: The principal notification No. 11/2021- Central Tax, dated the 1^st May, 2021, was published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) vide number G.S.R. 307(E), dated the 1^st May, 2021.

📚 Frequently Asked Questions (FAQs): Notification No. 26/2021 – Central Tax

Q1: What is Notification No. 26/2021 – Central Tax about?

Answer:
Notification No. 26/2021 – Central Tax, issued on 1st June 2021, extends the due date for filing FORM ITC-04 (relating to job work details) for the quarter ending March 2021. The earlier deadline of 31st May 2021 was extended to 30th June 2021
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Q2: Why was this extension provided?

Answer:
The extension was introduced due to difficulties faced by taxpayers in meeting compliance timelines during the pandemic. It ensured businesses, especially MSMEs and manufacturers, had sufficient time to file FORM ITC-04 without facing penalties.

Q3: What is FORM ITC-04?

Answer:
FORM ITC-04 is a GST form used to report the movement of goods sent to a job worker and goods received back. It helps the government track the proper utilization of Input Tax Credit (ITC) in job work arrangements.

Q4: What is the new deadline as per Notification No. 26/2021 – Central Tax?

Answer:
The revised deadline for filing FORM ITC-04 for QE March 2021 is 30th June 2021. The extension was applied retrospectively from 31st May 2021
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Q5: Who needs to file FORM ITC-04?

Answer:
FORM ITC-04 must be filed by manufacturers and principal suppliers who send inputs or capital goods to job workers and receive them back. It ensures GST compliance in job work transactions.

Q6: What happens if a taxpayer misses the extended deadline?

Answer:
If the extended deadline is missed, the taxpayer may face late fees, interest, and penalties under the CGST Act. To avoid compliance burdens, timely filing is advised. Businesses can seek professional assistance through GST Compliance experts.

Q7: How does Notification No. 26/2021 – Central Tax relate to earlier updates?

Answer:
It amends Notification No. 11/2021 – Central Tax, which had earlier set the due date as 31st May 2021. By substituting the date to 30th June 2021, it officially provided relief to taxpayers
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Q8: How can businesses ensure timely GST compliance in future?

Answer:
Businesses can stay updated by:
Registering for GST Alerts & Compliance Services via Finodha GST Compliance.
Filing GST returns through GST Return Filing.
Consulting GST Experts for professional guidance.

Q9: Does this extension apply to all taxpayers?

Answer:
Yes ✅, it applies to all taxpayers required to file FORM ITC-04 for QE March 2021, irrespective of turnover or business size.

Q10: What is the impact of this extension on MSMEs?

Answer:
MSMEs and small manufacturers benefited the most, as it reduced the immediate compliance burden during financial hardships. Those registered under MSME Registration could continue availing ITC benefits without penalty pressure.