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Comprehensive Charts for all due dates in direct tax and indirect tax

Comprehensive Charts for all due dates

Here we have compiled Comprehensive Charts for all due dates. The dates for direct and indirect tax are covered. I hope it will be quite useful. You can simply refer it to any compliance.

GST COMPLIANCES Including Changes Made vide NN 50/51/52/53 & 54 dated 24.06.2020 and NN 55/56 dated 27.06.2020

GSTR-3B (As per Rule 61(5) of CGST Rules 2017) IF TURNOVER MORE THAN RS. 5 CRORE

 

TAX PERIOD

DUE DATE 

LATE FEES 

NO INTEREST* 

INTEREST RATE @ 9%

INTEREST RATE @ 18%

FEBRUARY 2020

20.03.2020

NO LATE FEES IF FILED RETURN FILED BEFORE 24.06.2020

04.04.2020

05.04.2020- 24.06.2020

FROM 25.06.2020 i.e. If Return filed after 24.06.2020.

MARCH 2020

20.04.2020

05.05.2020

06.05.2020- 24.06.2020

APRIL 2020

20.05.2020

04.06.2020

05.06.2020- 24.06.2020

MAY 2020

27.06.2020

NA

JUNE 2020

20.07.2020

JULY 2020

20.08.2020

*NIL FOR 15 DAYS FROM THE DUE DATE

 

GSTR-3B IF TURNOVER UPTO RS. 5 CRORE (CATEGORY 1*)

 

TAX PERIOD

DUE DATE

NO LATE FEES AND INTEREST IF RETURN FILED BY (52.2020 dt. 24.06.2020)

INTEREST RATE @ 9% (51.2020 dt. 24.06.2020)

INTEREST RATE @ 18%

FEBRUARY 2020

22.03.2020

30.06.2020

01.07.2020-30.09.2020

FROM 01.10.2020 i.e. If Return filed after 30.09.2020.

MARCH 2020

22.04.2020

03.07.2020

04.07.2020-30.09.2020

APRIL 2020

22.05.2020

06.07.2020

07.07.2020-30.09.2020

MAY 2020

12.07.2020

12.09.2020

13.09.2020-30.09.2020

JUNE 2020

22.07.2020

23.09.2020

24.09.2020-30.09.2020

JULY 2020

22.08.2020

27.09.2020

28.09.2020-30.09.2020

AUGUST 2020

01.10.2020

Due date extended vide 54.2020 dt. 24.06.2020 

*Chhattisgarh, Madhya Pradesh, Gujarat, Maharashtra, Karnataka, Goa, Kerala, Tamil Nadu, Telangana, Andhra Pradesh, the Union territories of Daman and Diu and Dadra and Nagar Haveli, Puducherry, Andaman, and the Nicobar Islands or Lakshadweep,

 

GSTR-3B FOR TURNOVER UPTO RS. 5 CRORE (CATEGORY 2*)

TAX PERIOD

DUE DATE 

NO LATE FEES AND INTEREST IF RETURN FILED BY (52.2020 dt. 24.06.2020)

INTEREST RATE @ 9% (51.2020 dt. 24.06.2020)

INTEREST RATE @ 18%

FEBRUARY 2020

24.03.2020

30.06.2020

01.07.2020-30.09.2020

FROM 01.10.2020 i.e. If Return filed after 30.09.2020.

MARCH 2020

24.04.2020

05.07.2020

06.07.2020-30.09.2020

APRIL 2020

24.05.2020

09.07.2020

10.07.2020-30.09.2020

MAY 2020

14.07.2020

15.09.2020

16.09.2020-30.09.2020

JUNE 2020

24.07.2020

25.09.2020

26.09.2020-30.09.2020

JULY 2020

24.08.2020

29.09.2020

 

AUGUST 2020

03.10.2020

Due date extended vide 54.2020 dt. 24.06.2020

*Himachal Pradesh, Punjab, Uttarakhand, Haryana, Rajasthan, Uttar Pradesh, Bihar, Sikkim, Arunachal Pradesh, Nagaland, Manipur, Mizoram, Tripura, Meghalaya, Assam, West Bengal, Jharkhand or Odisha, the Union territories of Jammu and Kashmir, Ladakh, Chandigarh or Delhi

 

GSTR-1 (U/s 37 of CGST Act, 2017 r.w. Rule 59(1) of CGST Rules, 2017)

 

TAX PERIOD

DUE DATE 

NO LATE FEES IF RETURN FILED BY (53.2020 dt. 24.06.2020)

Return Frequency: Monthly

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

Return Frequency: Quarterly

JAN 2020 – MARCH 2020

30.04.2020

17.07.2020

APRIL 2020 – JUNE 2020

31.07.2020

03.08.2020

 

LATE WAIVER FOR PAST RETURNS (1/2) 

TAX PERIOD

GSTR 3B

CONDITION

JULY 2017 – JANUARY 2020

RS. 500.- PER RETURN (max.) 

NIL:- IF NIL RETURN WAS FILED

If the returns are filed between the period 01.07.2020 – 30.09.2020

LATE WAIVER FOR PAST RETURNS (2/2)

Brief Insight in this Respect (NN 52/2020 dated 24.06.2020) 

  • It is to be noted that the relief in late fees is only for GSTR-3B and not for GSTR 1.
  • The benefit is available only if returns are filed between 01 July 2020 to 30 September 2020. The benefit is available to all taxpayers. 
  • Section 47 of the Central Goods and Services Act, 2017 provides that late fees of Rs. 100 per day would be applicable for the late filing of return mentioned under Section 39 of the CGST Act. (This is subject to a maximum cap of Rs 5,000) 
  • However, in terms of Notification, No 76/2018 dated 31-12-2018 where tax payable in GSTR 3B is nil, late fees of Rs 10 per day are levied and in other cases, it is Rs 25 per day.
  • A similar notification is notified under the respective State GST laws.
  • GST council’s decision to waive the late fee for assesses who have not filed any of their GST returns from July 2017 till March 2020 has raised several eyebrows as well. As the waiver has been given with the condition that such return should be filed between July 1st till September 30th, 2020, huge resentment is being witnessed amongst those assesses who have already paid huge penalties and filed their delayed GST returns. 
  • Such taxpayers are now seeking refunds of the late fees paid by them citing the reason that this is an injustice to them. Several tax professionals too are of the view that the waiver of late fee should be extended to the taxpayers who already paid these. 
  • In our view, the government and the council will take necessary and fair decisions regarding this matter at the earliest.

 

COMPOSITION DEALER

 

RETURN TYPE

PERIOD

DUE DATE

NEW DUE DATE

CMP 08 

QE March 2020

18.04.2020

07.07.2020

CMP 02

FY 20-21

30.04.2020

30.06.2020

GSTR 4

FY 19-20

31.03.2020

15.07.2020

ITC 03

FY 20-21

30.05.2020

31.07.2020

Brief Insights

• In April 2019, a new return-filing procedure was laid down for composition dealers. Form CMP-08 was introduced in April 2019 to make it applicable from FY 2019-2020 onwards. It replaces the erstwhile quarterly GSTR-4 filed by composition dealers

• In addition to Form CMP-08, a composition dealer will also need to file his/her annual return via the revised format of Form GSTR-4 by 30 April following the end of a specific fiscal year.

• CMP-01 is a form to be filed by a migrated taxpayer who wants to opt for Composition Scheme. The due date for this was 1st August 2017 (1 month from July 2017).

• A taxpayer who wants to opt for a Composition Scheme for a financial year or during the middle of a financial year has to inform the government about their choice. This is to be done by filing GST CMP02

• ITC 03 form is filed by a taxpayer who has to pay an amount equal to the ITC through electronic credit or cash ledger. To be filled after filing CMP 02.

OTHER RETURNS (1/2)

 

RETURN TYPE

DUE DATE

NEW DUE DATE

GSTR 5 (NON-RESIDENT)

MARCH 2020 – MAY 2020

30.06.2020

GSTR 6 (ISD) 

GSTR 7 (TDS)

GSTR 8 (TCS)

 

OTHER RETURNS (2/2) 

Brief Insight GSTR 7

• It is a return to be filed by the persons who are required to deduct TDS (Tax deducted at source) under GST. GSTR 7 contains the details of TDS deducted, TDS liability payable and paid, TDS refund claimed if any, etc.

• The details of TDS deducted is available electronically to each of the deductees in PART ‘C’ of Form GSTR 2A after the due date of filing of Form GSTR 7. Also, the certificate for such TDS deducted shall be made available to the deductee in Form GSTR 7A on the basis of return filed in GSTR 7. GSTR- 8

• Every e-Commerce operator who is required to collect taxes at source (TCS) for all the taxable supplies made through it, must file GSTR 8. The details of such taxable supplies and the tax collected at source by the e-commerce operator need to be reported in the GSTR-8 form. GSTR-5

• It is a return form that has to be filed by a non-resident foreign taxpayer who is registered under GST for the period during which they carry out business transactions in India. This can either be done online or from a tax facilitation center. This form contains the details of all outward supplies (i.e., sales) and inward supplies (i.e., purchases) made and received by the non-resident taxpayer. GSTR 6

• It is a monthly return that has to be filed by an Input Service Distributor. 

Clarification in respect of ITC-04

As per Section 143 read with rule 45(3), Wherein FORM GST ITC-04 is required to be filed by the principal every quarter.

Brief Background

  •  The due date for ITC-04 of July 2017-December 2018 was extended to 31st March 2019.
  • The due date for ITC-04 of July 2017-March 2019 was again extended up to 30th June 2019.
  •  July 2017 to June 2019 extended until the 31st day of August 2019.
  •  Later on, the Filing of the form ITC-04 for the quarters between July 2017 to March 2019 had been waived off. Current Position
  •  Vide NN 35/2020 dated 3rd April 2020, the due date for various compliances was extended up to 30th June 2020.
  •  Thereafter, the Circular No. 138/08/2020-GST was issued to clarified to state that the compliance of ITC-04 has also stands extended up to 30th June 2020.
  •  Now, Vide NN 55/2020 dated 27th June 2020, the NN 35/2020 has been modified by extending the due date up to 31st August 2020
  • Hence, in the light of the above-stated provisions, ITC-04 can be filed up to 31st August 2020.

OTHER ADJUDICATION MATTERS

1. Sabka Vishwas Scheme LDRS: The last date to avail the scheme is extended up to 30th June 2020. No interest will be charged for this period if the dues are paid before 30th June 2020

2. Further, The taxpayers and/or the tax authorities have got an extended time limit of up to 31st August 2020*, where the time limit for the following compliance matter expires between 20th March 2020 and 30th August 2020:

• Issue of notice/notification/approval order/sanction order*

• Filing of an appeal/furnishing of a return/ statements/ applications/ reports or any other documents NN 35/2020 dated 3 rd April was issued to extend the due for said compliance up to 30th June, such date has been extended to 31st August now vide NN 55/2020 dated 27.06.2020.

RECENT CHANGE IN RESPECT OF SECTION 54(5)/(7) OF CGST ACT

Old Position

• N.N. 46/2020–CT dt. 9th June 2020:- If refund order date falls between 20th March to 29th June 2020 in that case refund order can be issued within 75 days (i.e. 60 + 15 Days) of receipt of reply of notice or 30th June 2020, whichever is later.

New Position

• Now, vide – If refund order date falls between 20th March to 30th August 2020 in that case refund order can be issued within 75 days (i.e. 60 + 15 Days) of receipt of reply of notice or 31st August 2020, whichever is later.

Excerpt of Section 54 for bare perusal

(5) If on receipt of any such application, the proper officer is satisfied that the whole or part of the amount claimed as refund is refundable, he may make an order accordingly and the amount so determined shall be credited to the Fund referred to in section 57.

(7) The proper officer shall issue the order under sub-section (5) within sixty days from the date of receipt of application complete in all respects.

SMS FACILITY

Relief for Honest Tax Payers (Source:- CBIC’s Twitter Handle dt. 27.06.2020)

1. NIL statement in Form GSTR-1 can now be filled via SMS from the 1st week of July 2020.

2. Previously on 8th June, a similar facility for the Form GSTR-3B had been announced. (Rule 67A was notified vide Notification No. 38/2020 – Central Tax dated 5th May but facility on the portal was commenced from 8th June 2020)

 

INCOME TAX COMPLIANCES Including changes vide Notification No. 35 .2020, dated 24-06-2020

Brief Background

• Taxation and Other Laws (Relaxation of Certain Provisions) Ordinance, 2020 was passed to give effect various relaxations by Hon’ble FM.

• Section 3(1) of the Ordinance provided that all due dates falling between 20-03 2020 to 29-06-2020 shall stand extended to 30-06-2020.

• The said provision empowers the Central Government to specify the new cut-off date and to extend the due date. Therefore, Notification No. 35.2020, dated 24- 06-2020 has been issued to extend certain due dates again. 

 

SECTION 139 (AY 2019-20)

 

Particular

Nature of compliance

Original Due date

Due date extended earlier

New due dates

Section 139(1)

Original return

31.07.2020 

Section 139(4)

Belated return

31.03.2020

30.06.2020

31.07.2020 

Section 139(5)

Revised return

31.03.2020

30.06.2020

31.07.2020 

SECTION 139 (AY 2020-21)

 

Particular

Nature of compliance

Original Due date

Due date extended earlier

New due dates

Section 139(1)

If the assessee is required to furnish a report of transfer pricing (TP) Audit in Form No. 3CEB.

30.11.2020

NA

30.11.2020

Company

31.10.2020

Any assessee who is required to get its accounts audited

31.10.2020

An Individual assessee who is a partner in a firm whose accounts are required to be audited.

31.10.2020

In any other case

31.07.2020

Section 44AB*

Furnishing Tax Audit Report 

31.09.2020

 

30.11.2020

*If Self Assessment tax exceeds Rs. 1 Lakh and not paid then he would be liable for interest from 31.07.2020 or 31.10.2020 till the payment under Section 234A

ASSESSMENTS

 

Particular

Nature of compliance

Original Due date

Due date extended earlier

New due dates

Section 143(1)

An intimation after processing of return of ITR, if the return is filed during the financial year 2018-19 Under section 139; or In response to a notice issued under section 142(1)

31.03.2020

30.06.2020

31.03.2021

Section 143(3) 

Scrutiny assessment under Section 143(3) for the AY 2018-19

30.09.2020

Section 144

Scrutiny assessment under Section 144 for the AY 2018-19.

30.09.2020

Section 149 Time-limit to issue a reassessment notice:- if it expires during 20-03-2020 and 31-12-2020, then such time limit has been extended till 31.03.2021

 

TDS RETURNS (1/2)

 

Particular

Nature of compliance

Original Due date

Due date extended earlier

New due dates

Section 200 and Section 206C

Form 24Q, 26Q, 27Q and 27EQ of For Q4 of the FY 2019-20

31.05.2020

30.06.2020

31.07.2020

For Q1 and Q2 of the FY 2020-21

As per Rule 31A/31AA

31.03.2021

Form 24QB, 24QC, and 24QD For Feb. 2020

30.03.2020

30.06.2020

31.07.2020

For March 2020

30.04.2020

30.06.2020

31.07.2020

April to November 2020

30 days from the end of the month in which tax is deducted 

31.03.2021

 

TDS RETURNS (2/2)

 

Type of TDS Return Forms

Particulars of the TDS Return Forms

Form 24Q

Statement for tax deducted at source from salaries

Form 26Q

Statement for tax deducted at source on all payments other than salaries.

Form 27Q

Statement for a tax deduction on income received from interest, dividends, or any other sum payable to non-residents.

Form 27EQ

Statement of collection of tax at source.

 

TDS/TCS CERTIFICATE

 

Particular

Nature of compliance

Original Due date

Due date extended earlier

New due dates

Section 203

Form 16 for tax deducted from the salary paid during the FY 2019-20

15-06-2020

30-06-2020

15.08.2020

Form 16A for tax deducted from payments (other than salary) for Qtr. ending March 31, 2020

15-06-2020

15-07-2020

Form 16B/16C/16D for tax deducted under section 194- IA/194-IB/194M during February 2020

14-04-2020

15-07-2020

For March 2020

15-05-2020

15-07-2020

Section 206C

Issue of TCS certificate for the Q4 of the FY 2019- 20

30-05-2020

15-07-2020

 

FORM 24G

 

Particular

Nature of compliance

Original Due date

Due date extended earlier

New due dates

Section 206C/200

February 2020

15-03-2020

15-07-2020

March 2020

30-04-2020

30-06-2020

15-07-2020

April to November 2020

Within 15 days from the end of the month

31-03-2021

Section 200A & section 206CB

Due date to send the intimation for processing of statement of TDS/TCS filed during the FY 2018-19 

31-03-2020

30-06-2020

31-03-2021

Brief Insight

When income tax is deducted at source (TDS) for a salaried individual or a non-salaried individual or even a person who is not a resident of the country, is not salaried but still has to pay tax, the Accounts Officers who process such need to use a form to submit information about the deduction. Form 24G is what is used to submit such information to the Drawing & Disbursement Officer (DDO) for the processing. This is a form that will always be used by the AO when filing TDS however there is a specific format that needs to be followed. There are also certain guidelines that need to be followed by the AO when filling this form.

 

OTHER COMPLIANCES

 

Particular

Nature of compliance

Original Due date

Due date extended earlier

New due dates

Capital Gain Exemptions u/s54 to 54GB

Making Investments or completing construction or purchase for claiming deduction from capital gains arising during the Financial Year 2019-20.

30-06-2020

30-09-2020

Chapter VIA (Part B)

Making various tax saving-investments or payments for the Financial Year 2019-20 (Section 80C to 80GGC)

31-03-2020

30-06-2020

31-07-2020

Section 285BA* 

Furnishing of Statement of Financial Transactions (SFT) for the Financial Year 2019-20.

31-05-2020

30-06-2020

31-03-2021

Brief Insight

• Finance Act 2014 replaced Section 285BA and renamed it as ‘obligation to furnish statement of financial transaction or reportable account’ to widen the scope of specified persons and to introduce various other provisions.

• SFT is a report of specified financial transactions by specified persons including prescribed reporting financial institutions. Such specified persons who register, maintain or record such specified financial transactions are under a mandate to submit SFT to the income tax authority or such other specified authority or agency.

 

LITIGATION/ADJUDICATION 

The assessees and/or the tax authorities have got an extended time limit of up to 30th June 2020 where the time limit for the following compliance matter expires between 20th March 2020 and 29th June 2020

• Issue of notice/intimation/notification/approval order/sanction order

• Filing of an appeal/furnishing of a return/statements/reports or any other documents

• The time limit for the completion of proceedings by the tax authority

 

Particular

Nature of compliance

Original Due date

Due date extended earlier

New due dates

Direct Tax Vivad se Vishwas Act, 2020

Non-payment of an additional 10% payment of disputed tax.

31-03-2020

30-06-2020

31-12-2020

Charts for all due dates Read the copy:

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