The announcement came after a three-day meeting of its Monetary Policy Committee (MPC).
The RBI has kept repo rate the central bank's lending rate unchanged at 4 per cent and reverse repo rate borrowing rate at 3.35 per cent.
Taxpayers with a turnover of over Rs 5 crore have been given 15 days extra time to file monthly summary return GSTR-3B and pay taxes without paying any late fees.