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There is no longer any provision for an extension of the transition period beyond December 2020. Section 33 of the EU (Withdrawal Agreement) Act says
A Minister of the Crown may not agree in the Joint Committee to an extension of the implementation period.
https://www.legislation.gov.uk/ukpga/2020/1/section/33/enacted
That'll be the Tories public position but it is parliament's job to pass legislation - can't they just pass another law which supersedes it?
There is no longer any provision for an extension of the transition period beyond December 2020. Section 33 of the EU (Withdrawal Agreement) Act says
https://www.legislation.gov.uk/ukpga/2020/1/section/33/enacted