- Compliance Requirement under Goods & Services Tax Act, (GST) 2017
Keeping in view the preventive measures taken to contain the spread of Novel Coronavirus (COVID-19) and the difficulties being faced by the GST taxpayer, Ministry of Finance, Department of Revenue, Central Board of Indirect Taxes & Customs, has extended the due date for Filing GST Returns.
GST Compliance Relaxations:
GSTR 3B Due Dates for May 2020
- Taxpayers having aggregate turnover > Rs. 5 Cr. in preceding FY
Tax period | Due Date | No interest payable till | Interest payable @ 9% from & till | Interest payable @ 18% from |
Feb, 2020 | 20th March, 2020 | 4th April, 2020 | 5th April to 24th June, 2020 | 25th June, 2020 |
March, 2020 | 20th April, 2020 | 5th May, 2020 | 6th May to 24th June, 2020 | 25th June, 2020 |
April, 2020 | 20th May, 2020 | 4th June, 2020 | 5th June to 24th June, 2020 | 25th June, 2020 |
May, 2020 | 27th June, 2020 (extended date for filing) | 27th June, 2020 | -- | 28th June, 2020 |
June, 2020 | 20th July, 2020 | - | - | - |
July, 2020 | 20th August, 2020 | - | - | - |
- Taxpayers having aggregate turnover upto Rs. 5 crores in preceding FY (Group A)
Tax period | Due Date | No interest payable till | Interest payable @ 9% from & till | Interest payable @ 18% from |
Feb, 2020 | 22nd March, 2020 | 30th June, 2020 | 1st July to 30th Sept., 2020 | 1st Oct., 2020 |
March, 2020 | 22nd April, 2020 | 3rd July, 2020 | 4th July to 30th Sept., 2020 | 1st Oct., 2020 |
April, 2020 | 22nd May, 2020 | 6th July, 2020 | 7th July to 30th Sept., 2020 | 1st Oct., 2020 |
May, 2020 | 12th July, 2020 (extended date for filing) | 12th Sept., 2020 | 13th Sept to 30th Sept., 2020 | 1st Oct., 2020 |
June, 2020 | 22nd July, 2020 | 23rd Sept., 2020 | 24th Sept to 30th Sept., 2020 | 1st Oct., 2020 |
July, 2020 | 22nd August, 2020 | 27th September, 2020 | 28 Sep-30 Sep 2020 | 01.10.2020 to till actual date of deposit of Tax |
Group A States: Chhattisgarh, Madhya Pradesh, Gujarat, Maharashtra, Karnataka, Goa, Kerala, Tamil Nadu, Telangana, Andhra Pradesh, Daman & Diu and Dadra & Nagar Haveli, Puducherry, Andaman and Nicobar Islands, Lakshadweep | ||||
- Taxpayers having aggregate turnover upto Rs. 5 crores in preceding FY (Group B)
Tax period | Due Date | No interest payable till | Interest payable @ 9% from & till | Interest payable @ 18% from |
Feb, 2020 | 24th March, 2020 | 30th June, 2020 | 1st July to 30th Sept., 2020 | 1st Oct., 2020 |
March, 2020 | 24th April, 2020 | 5th July, 2020 | 6th July to 30th Sept., 2020 | 1st Oct., 2020 |
April, 2020 | 24th May, 2020 | 9th July, 2020 | 10th July to 30th Sept., 2020 | 1st Oct., 2020 |
May, 2020 | 14th July, 2020 (extended date for filing) | 15th Sept., 2020 | 16th Sept to 30th Sept., 2020 | 1st Oct., 2020 |
June, 2020 | 24th July, 2020 | 25th Sept., 2020 | 26th Sept to 30th Sept., 2020 | 1st Oct., 2020 |
July, 2020 | 24th August, 2020 | 29th Sept., 2020 | 30th Sept., 2020 | 1st Oct., 2020 |
Group B States: Himachal Pradesh, Punjab, Uttarakhand, Haryana, Rajasthan, Uttar Pradesh, Bihar, Sikkim, Arunachal Pradesh, Nagaland, Manipur, Mizoram, Tripura, Meghalaya, Assam, West Bengal, Jharkhand, Odisha, Jammu and Kashmir, Ladakh, Chandigarh, Delhi
| ||||
- Late Fee Relief to Normal Taxpayers filing Form GSTR-3B
- i) Taxpayers having aggregate turnover > Rs. 5 Cr. in preceding FY
Tax period | Late fees waived if return filed on or before |
Feb, 2020 | 24th June, 2020 |
March, 2020 | 24th June, 2020 |
April, 2020 | 24th June, 2020 |
May, 2020 | 30th September, 2020 (Interest is NIL for the first 15 days, 9% after 15 days till 24th June and 18% thereafter) |
June, 2020 | |
July, 2020 |
- ii) Taxpayers having aggregate turnover upto Rs. 5 crores in preceding FY
Tax period | Late fees waived if return filed on or before (For Group A States)* | Late fees waived if return filed on or before (For Group B States)* |
Feb, 2020 | 30th June, 2020 | 30th June, 2020 |
March, 2020 | 03rd July, 2020 | 05th July, 2020 |
April, 2020 | 06th July, 2020 | 09th July, 2020 |
May, 2020 | 12th Sept., 2020 | 15th Sept., 2020 |
June, 2020 | 23rd Sept., 2020 | 25th Sept., 2020 |
July, 2020 | 27th Sept., 2020 | 29th Sept., 2020 |
States | Group A- Chhattisgarh, Madhya Pradesh, Gujarat, Maharashtra, Karnataka, Goa, Kerala, Tamil Nadu, Telangana, Andhra Pradesh, Daman & Diu and Dadra & Nagar Haveli, Puducherry, Andaman and Nicobar Islands, Lakshadweep | Group B- Himachal Pradesh, Punjab, Uttarakhand, Haryana, Rajasthan, Uttar Pradesh, Bihar, Sikkim, Arunachal Pradesh, Nagaland, Manipur, Mizoram, Tripura, Meghalaya, Assam, West Bengal, Jharkhand, Odisha, Jammu and Kashmir, Ladakh, Chandigarh, Delhi |
Kindly note:
Taxpayers who are yet to file Form GSTR-3B for any month(s) from July, 2017 till Jan., 2020, can now file Form GSTR-3B from 1st July, 2020 till 30th Sept., 2020, without any late fee, for those months in which they did not have any tax liability. However, for the months they had a tax liability, their late fee is capped at Rs 500 per return.
iii) Late Fee Relief to Normal Taxpayers filing Form GSTR-1:
Tax period | Due Date | Waiver of late fee if return filed on or before |
March 2020 | 11.04.2020 | 10.07.2020 |
April 2020 | 11.05.2020 | 24.07.2020 |
May 2020 | 11.06.2020 | 28.07.2020 |
June, 2020 | 11.07.2020 | 05.08.2020 |
Quarterly taxpayers Jan to March 2020 | 30.04.2020 | 17.07.2020 |
Quarterly taxpayers April to June 2020 | 31.07.2020 | 03.08.2020 |
Kindly note:
If the Form GSTR-3B and Form GSTR-1 for the period mentioned in Tables above is not filed by the notified dates, late fee will become payable from the due dates for these returns.
- Compliances for Composition taxpayers
Form No. | Compliance Particulars | Due Date (New)
|
GST CMP-08 | 2nd Quarter – July to September 2020 | 18.10.2020 |
GSTR-4 | The yearly return for 2019-20 shall be required to be filed in Form GSTR 4
|
31.08.2020 |
- Non Resident Tax Payers, ISD, TDS & TCS Taxpayers
- (for the month of March, April, May, June & July 2020)
Form No. | Compliance Particulars | Due Date | Due Date (New)
|
GSTR -5 | Non-Resident Taxpayers | 20th of succeeding month | 31.08.2020 |
GSTR -6 | Input Service Distributors | 13th of succeeding month | 31.08.2020 |
GSTR -7 | Tax Deductors at Source
(TDS deductors) | 10th of succeeding month | 31.08.2020 |
GSTR -8 | Tax Collectors at Source (TCS collectors) | 10th of succeeding month | 31.08.2020 |
- Extension of validity period of EWB:
The validity of E-way bills (EWBs), generated on or before 24th March, 2020, and whose validity expiry date lies on or after 20th March, 2020, is deemed to have been extended till 31st August, 2020.
- GST UPDATES from 01.07.2020 to 31.07.2020:
Sl. No.
| Notification(s) | Notification No. | Link(s) |
1.
| Seeks to make eighth amendment (2020) to CGST Rules | 58/2020-Central Tax dated 01.07.2020 | |
2. | Seeks to extend the due date for filing FORM GSTR-4 for financial year 2019-2020 | 59/2020-Central Tax dated 13.07.2020 |
|
3. | Seeks to make Ninth amendment (2020) to CGST Rules | 60/2020-Central Tax dated 30.07.2020 | |
4. | Seeks to amend Notification no. 13/2020-Central Tax in order to amend the class of registered persons for the purpose of e-invoice | 61/2020-Central Tax dated 30.07.2020 | |
5. | The Central Goods and Services Tax (Ninth Amendment) Rules, 2020. | Gazette ID CG-DL-E-30072020-220781 | |
6 | The Delhi Goods and Services Tax (Removal Of Difficulties) Order, 2019 | Gazette ID SG-DL-E-28072020-220717 | |
7 | Amendment in the notification of the Government of India in the Ministry of Finance, No. 21/2019- Central Tax, dated the 23.04.2019 | [F. No. CBEC-20/01/09/2019-GST |
|
8 | The Central Goods and Services Tax (Eighth Amendment) Rules, 2020 | Gazette ID CG-DL-E-01072020-220314 |
- Compliance requirement under Income Tax act, 1961
Applicable Laws/Acts
|
Compliance Particulars |
Due Dates | Revised Due Dates |
Income Tax Act, 1961 | Filing of original return for the Assessment Year 2019-20 u/s 139 (1) | 30-07-2020 | 30-09-2020 |
Income Tax Act, 1961 | Filing of belated return for the Assessment Year 2019-20 u/s 139 (4) | 30-06-2020 | 30-09-2020 |
Income Tax Act, 1961
| Filing of revised return for the Assessment Year 2019-20 u/s 139 (5) | 30-06-2020 | 30-09-2020 |
Income Tax Act, 1961 | TDS/ TCS Return for quarter ending 31.03.2020 (Q4 of F.Y. 2019-20) for Government Offices | 30-06-2020 | 15-07-2020 |
Income Tax Act, 1961 | TDS/ TCS Return for 31.03.2020 (Q4 of F.Y. 2019-20) quarter | 30-06-2020 | 31-07-2020 |
Income Tax Act, 1961 | Date of issuance of TDS certificate to employees in form 16A and other in form 16 | 15-07-2020 | 15-08-2020 |
Income Tax Act, 1961 | Investments for claiming deduction under Chapter-VIA-B of the IT Act which includes section 80C, 80D, 80G etc. for the A.Y. 20-21 i.e. F.Y. 19-20 | 30-06-2020 | 31-07-2020 |
Income Tax Act, 1961 | Investment/ construction/ purchase for claiming roll over benefit/ deduction in respect of capital gains under sections 54 to 54GB | 30-06-2020 | 30-09-2020 |
Income Tax Act, 1961 | Furnishing of Form 24G by an office of the Government for the month of: · February 2020 · March 2020 · April to November 2020 |
15-03-2020 30-04-2020 Within 15 days from the end of the month |
15-07-2020 15-07-2020 31-03-2020
|
Income Tax Act, 1961 | New procedure for registration, approval or notification entities under u/s 10(23C), 12AA, 35 and 80G | 01.06.2020 | 01.10.2020 |
Income Tax Act, 1961 | Form 24QB, 24QC and 24QD of February and March 2020 (Section 200 read with Rule 31A or Section 206C read with Rule 31AA) | 30-03-2020
30-04-2020 |
30-06-2020 |
Income Tax Act, 1961 | Date of filing of declaration and payment of tax under VI VAD SE VISH WAS | 30-06-2020 | 31-12-2020 |
Income Tax Act, 1961 | Due date for any of the following actions, except mentioned above, under the the Wealth-Tax Act, 1957, Income-tax Act, 1961, Prohibition of Benami Property Transactions Act, 1988, Chapter VII of Finance (No. 2) Act, 2004 (dealing with Securities Transaction Tax), Chapter VII of Finance Act, 2013 (dealing with Commodities Transaction Tax), Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015, Chapter VIII of Finance Act, 2016 (dealing with Equalisation Levy) and Direct Tax Vivad se Vishwas Act, 2020 by any Authority, Commission or Tribunal: • passing order • issuance of notice, intimation, notification, sanction or approval • completion of proceedings • any other action • filing of appeal, reply, application • furnishing of reports, document, return, statement or any such record |
20-03-2020 to 31-12-2020 |
31-03-2021 |
Income Tax Act, 1961 | Due date for any of the following actions, except mentioned above, under: the Wealth-Tax Act, 1957, Income-tax Act, 1961, Prohibition of Benami Property Transactions Act, 1988, Chapter VII of Finance (No. 2) Act, 2004 (dealing with Securities Transaction Tax), Chapter VII of Finance Act, 2013 (dealing with Commodities Transaction Tax), Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015, Chapter VIII of Finance Act, 2016 (dealing with Equalisation Levy) and Direct Tax Vivad se Vishwas Act, 2020 by the Taxpayers and/or Authority:
· filing of appeal, reply, application · furnishing of reports, document, return, statement or any such record |
20-03-2020 to 31-12-2020 |
31-03-2021 |
- Important Notifications:
Sl. No.
| Particulars of the Notification(s) | File No. / Circular No. | Notification Link(s) |
1. | One-time relaxation for Verification of tax-returns for the Assessment years 201S-16, 2016-17, 2017-18, 2018-19 and 2019-20 which are pending due to non-filing of ITRV form and processing of such returns - reg. | Circular No. 13/2020/ F. No. 225/59/2020/ITA-1I |
|
2. | Clarification in relation to notification issued under clause (v) of proviso to section 194N of the Income-tax Act, 1961 (the Act) prior to its amendment by Finance Act, 2020 (FA, 2020)-Reg | Circular No.14/2020 F. No. 370142/27/2020-TPL |
|
3. | Notification of Sovereign Wealth Fund under section to(23FE) of the Income-tax Act, 1961 | Circular No. 15 of 2020 F No 370142/26/2020-TPL |
|
4. | Income-tax (16th Amendment) Rules, 2020 | Notification No. 43/2020/F. No. 370142/11/2020-TPL | |
5. | Notification of Harmonised Master List of Infrastructure Sub-sectors for the purposes of section 10(23FE) of the Income-tax Act, 1961 | Notification No. 44/2020/F. No. 370142/24/2020-TPL |
|
6. | The National Pension Scheme Tier II- Tax Saver Scheme, 2020. | Notification No. 45 /2020/F. No.370142/26/2019-TPL | |
7. | ‘National Aviation Security Fee Trust’ (PAN AADTN2508F) | Notification No. 46 /2020/F. No. 300196/07/2020-ITA-I | |
8. | Notification u/s 138 (1)(ii) of the Income-tax Act, 1961 under PM-KISAN Yojana | F. No. 225/49/2019-ITA.II Notification No. 51 /2020 |
|
9. | Notification u/s 138 of the Income-tax ACt,1961 in respect of Intelligence Bureau, Cabinet Secretariat, National Investigation Agency and Narcotics Control Bureau | F. No. 225/53/2020-IT A.II Notification No. 52 /2020 |
|
10. | Income-tax (17th Amendment) Rules, 2020. | Notification No. 54/2020/F. No. 370142/22/2020-TPL | |
11. | Income-tax (18th Amendment) Rules, 2020. | Notification No. 55/2020/ F. No.142/22/2015-TPL | |
12. | TAXATION AND OTHER LAWS | Notification No. 56/2020/ F. No. 370142/23/2020-TPL |
Source: https://www.incometaxindia.gov.in ; https://www.gst.gov.in
*****
Author – CS Deepak Seth (Associate Partner at Helpinghands Professionals LLP) and can be reached at contacthhpro@gmail.com or 9910248911.
Disclaimer: The Article is based on the Relevant Provisions and as per the information existing at the time of the preparation. In no event we shall be liable for any direct and indirect result from this document. This is only a knowledge sharing initiative.
