England Under-21 player Danny Rose complained of being racially abused and enduring monkey chants before violent scenes broke out at the end of the Euro 2013 play-off game in Krusevac.
Tottenham's Rose, on loan at Sunderland, was sent off for his reaction to what he clearly felt was racist abuse, something the Serbian FA have denied.
UEFA tonight announced charges against both the Serbian FA and the English, for improper conduct of their players, and against the Serbs for "alleged racist chanting" by fans.
Gerrard, speaking after England's 1-1 draw in Poland today, is calling for the footballing authorities to act and hand out severe punishments.
He said: "The disappointing thing with what happened last night [Wednesday] is it means you are back to square one.
"We seemed to be making great strides forward to get it (racism) out of our game.
"With a situation like last night, it brings it back to square one.
"It is very disappointing but a lot of people above me need to take control of the situation.
"The authorities have to get tough. It is the only solution. No-one else can do anything about it.
"They are the people in control, who can give out massive huge fines and ban people.
"Why wait? Do it now."
England striker Jermain Defoe echoed Gerrard's sentiments.
He said: "I've had a few texts and, from what I understand, it was tough out there for the boys.
"Under-21s and seniors are such big games to play in and all you want to do is to be equal to everyone else.
"If you are getting those sort of chants, it is not nice. It is not nice to experience anything like that."