Compliance means adhering to rules and regulations. “If you think compliance is expensive, try non‐ compliance.” This article contains various compliance requirements including due dates of return filing under Income Tax Act, 1961 and Goods & Services Tax Act, 2017 (GST).
Compliance Requirement Under Income Tax Act, 1961
| Compliance Particulars | Due Dates | Revised Due Dates |
| Filing of belated return for the Assessment Year 2019-20 | 31.03.2020 | 30.06.2020 |
| Filing of revised return for the Assessment Year 2019-20 | 31.03.2020 | 30.06.2020 |
| Sending an intimation after processing of return of income (ITR), if the return is filed: a) During Financial Year 2018-19 under section 139; b) During Financial Year 2018-19 in response to a notice issued under section 142(1) | 31.03.2020 | 30.06.2020 |
| Furnishing of TDS Statement for the fourth quarter (Jan – March, 2020) of the Financial Year 2019-20 | 31.05.2020 | 30.06.2020 |
| Furnishing of TDS Statement in form 26QB/26QC/ 26QD for the month of a) February, 2020 b) March, 2020 c) April, 2020 | 30.03.2020 30.04.2020 30.05.2020 | 30.06.2020 |
| Furnishing of TCS Statement for fourth quarter of the Financial Year 2019-20 | 15.05.2020 | 30.06.2020 |
| Issue of TCS certificate for the fourth quarter of the Financial Year 2019-20 | 30.05.2020 | 30.06.2020 |
| Furnishing of Form 24G by an office of the Government for the month of a) March, 2020 b) April, 2020 c) May, 2020 | 30.04.2020 15.05.2020 15.06.2020 | 30.06.2020 |
| Due date to send the intimation for processing of statement of TDS/TCS filed during the Financial Year 2018-19 | 31.03.2020 | 30.06.2020 |
Important Updates:
- The CBDT vide the Taxation and Other Laws (Relaxation of Certain Provisions) Ordinance, 2020 dated 31-03-2020 has extended all respective due dates, falling during the period from 20-03-2020 to 29-06-2020, till June 30, 2020.
- The benefit of extended due date shall not be available in respect of payment of Advance Tax, TDS, TCS. However, any delay in payment of tax which is due for payment from 20-03-2020 to 29-06-2020 shall attract interest at the lower rate of 0.75% for every month or part thereof if same is paid after the due date but on or before 30-06-2020.
- Filing of tax return (where no tax audit is required)- The due date for filing the personal tax return remains unchanged at 31 July 2020.
Compliance Requirement Under Goods and 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.
A. GSTR 3B Due Dates for May 2020
- If Turnover more than Rs 5 Crore – Due date of GSTR 3B is 27.06.2020
- If Turnover less than Rs 5 Crore (in two parts):
| Due Date – 12.07.2020 | Due Date – 14.07.2020 |
| For 15 States/UT’s: (States:- Chhattisgarh, MP, Gujarat, Daman and Diu, Dadra and Nagar Haveli, Maharashtra, Karnataka, Goa, Lakshadweep, Kerala, TN, Puducherry, Andaman and Nicobar Islands, Telangana and Andhra Pradesh) | For 22 States/UT’s: (states:- J&K, Laddakh, Himachal Pradesh, Punjab, Chandigarh, Uttarakhand, Haryana, Delhi, Rajasthan, UP, Bihar, Sikkim, Arunachal Pradesh, Nagaland, Manipur, Mizoram, Tripura, Meghalaya, Assam, West Bengal, Jharkhand and Odisha) |
B. GSTR 3B Due Dates for tax periods of February, 2020 to April, 2020.
- Taxpayers having an aggregate turnover of more than rupees 5 crores in the preceding financial year
| Rate of interest | Tax period | Condition |
| 0% interest for 15 days + interest rate @9% p.a for remaining days | February, March April, 2020 | If return in FORM GSTR-3B is furnished on or before the 24th June, 2020 |
- Taxpayers having an aggregate turnover of more than rupees 1.5 crores and up to rupees five crores in the preceding financial year
| Rate of interest | Tax period | Condition |
| Nil | February, 2020, March, 2020 | If return in FORM GSTR-3B is furnished on or before the 29th June, 2020 |
| Nil | April, 2020 | If return in FORM GSTR-3B is furnished on or before the 30th June, 2020 |
- Taxpayers having an aggregate turnover of upto rupees 1.5 crores in the preceding financial year
| Rate of interest | Tax period | Condition |
| Nil | February, 2020 | If return in FORM GSTR-3B is furnished on or before the 30th day of June, 2020 |
| Nil | March, 2020 | If return in FORM GSTR-3B is furnished on or before the 3rd day of July, 2020 |
| Nil | April, 2020 | If return in FORM GSTR-3B is furnished on or before the 6th day of July, 2020.”. |
Lock down के time में GST payment पर interest कैसे calculate करना है ?
Note: In case the return for the said months are not furnished on or before the date mentioned in the notification then interest at the rate of 18% per annum shall be charged from the due date of return, till the date on which the return is filed. In addition, regular late fee shall also be leviable for such delay along with liability for penalty.
C. Taxpayers filing Form GSTR-1 either Monthly or Quarterly
| Form | Due Date (New) |
| GSTR-1 for March, April and May 2020 | On or Before 30.06.2020 |
| GSTR-1 (Quarterly) Jan – March 2020 | On or Before 30.06.2020 |
D. Waiver of late fee for delay in furnishing Form GSTR-3B
1. No late Fee for Taxpayers having an aggregate turnover of more than rupees 5 crores in the preceding financial year for-
| Tax period | Condition |
| February, March, and April, 2020 | If return is furnished on or before the 24.06.2020 |
2. No late fee for Taxpayers having an aggregate turnover of more than rupees 1.5 crores and up to rupees five crores in the preceding financial year for-
| Tax period | Condition |
| February, and March, 2020 | If return is furnished on or before the 29.06.2020 |
| April, 2020 | If return is furnished on or before the 30.06.2020 |
Easy way for Reconciliation of GSTR 2A with GSTR 3B : GST Returns
3. No late fee for Taxpayers having an aggregate turnover of upto rupees 1.5 crores in the preceding financial year for-
| Tax period | Condition |
| February, 2020 | If return is furnished on or before the 30.06.2020 |
| March, 2020 | If return is furnished on or before the 03.07.2020 |
| April, 2020 | If return is furnished on or before the 06.07.2020 |
E. Taxpayers want to opt for Composition in FY 2020-21
| Form No. | Compliance Particulars |
| GST CMP-02 Due Date for 2020-21 is 30.06.2020 | Intimation in respect of opting to pay tax under composition scheme for the FY 2020-21 |
| GST ITC-03 Due Date for 2019-20 is 31.07.2020 | filed by a taxpayer who is liable to pay an amount that is equal to the input tax credit through cash ledger or electronic credit.(in relation to above intimation) |
GST composition scheme : How to apply for Composition Scheme in GST for FY 2020-21?
F. Compliances for Composition taxpayers
| Form No. | Compliance Particulars |
| GST CMP-08 Due Date is 07.07.2020 | Registered person availing the benefit provided under Notification 2/2019 –Central Tax (Rate) shall be required to furnish details of self-assessed tax in Form GST CMP-08 for quarter ending March 2020 |
| GSTR-4 Due Date is 15.07.2020 | The yearly return for 2019-20 shall be required to be filed in Form GSTR 4 by theabove persons |
G. Compliance Related to E-way bills:
- Validity of E-way Bill
Where e-way bill expires between 20.03.2020 and 15.04.2020, validity deemed to have been extended till 30.04.2020
- Non applicability of extension Related to E-way bills
- Chapter IV;
- sub-section (3) of section 10, sections 25, 27, 31, 37, 47, 50, 69, 90, 122, 129;
- section 39, except sub-section (3), (4) and (5);
- section 68, in so far as e-way bill is concerned; and
- rules made under the provisions specified at clause (a) to (d) above;
- Taxpayers who are required to deduct tax at source, ISD, non-resident taxable person and the person required to collect tax at source have been allowed to furnish return/statement for March 2020 to May 2020 on or before 30.06.2020
H. Non Resident Tax Payers, ISD, TDS & TCS Taxpayers
– (for the month of March, April & May, 2020)
| Form No. | Compliance Particulars | Due Date (New) |
| GSTR -5 | Non-Resident Taxpayers | 30.06.2020 |
| GSTR -6 | Input Service Distributors | 30.06.2020 |
| GSTR -7 | Tax Deductors at Source (TDS deductors) | 30.06.2020 |
| GSTR -8 | Tax Collectors at Source (TCS collectors) | 30.06.2020 |
I. Other Compliances
- Extension of time limit till 30th June
For completion or compliance of any action due date of which falls between 20th March, 2020 to 29th June, 2020
- Activities of taxable person to which extension applies
Filing of appeal, reply, application, furnishing of any report, document return, statement, records etc.
The author of the above article is CS Lalit Rajput, Partner at Xcede Consultech LLP.
Email id: [email protected]
Disclaimer:The article or blog or post (by whatever name) in this website is based on the writer’s personal views and interpretation of Act. The writer does not accept any liabilities for any loss or damage of any kind arising out of information and for any actions taken in reliance thereon.
Also, www.babatax.com and its members do not accept any liability, obligation or responsibility for author’s article and understanding of user.
For Advertising with us-
- Mail us at [email protected]
- Whatsapp us at +91-7024984925
