Tax Calendar of July 2021- GST, Income Tax and other compliances
1. Compliance requirement under Income Tax act, 1961
| Sl. | Compliance Particulars | Due Dates |
| 1 | Due date of depositing TDS/TCS liabilities for previous month. | 07-07-2021 |
| 2 | Due date of depositing TDS/TCS liabilities for the period April to June for quarterly deposit of TDS under section 192, 194A, 194D or 194H | 07-07-2021 |
| 3 | TDS certificate to employees in respect of salary paid (extended date vide Circular no. 9/2021, dated 20-05-2021) | 15-07-2021 |
| 4 | Extended Due date of filing of TDS return for TDS deducted during Q4 of FY 2020-21. The due date for furnishing of quarterly statement of TDS has been extended from May 31, 2021 to June 30, 2021 (vide Circular no. 9/2021, dated 20-05-2021), now it is again changed to July 15, 2021 | 15-07-2021 |
| 5 | Due date for issue of TDS Certificate for tax deducted under section 194-IA, 194-IB and 194M in the month of April, 2021 | 15-07-2021 |
| 6 | Quarterly statement in respect of foreign remittances (to be furnished by authorized dealers) in Form No. 15CC for quarter ending June, 2021 | 15-07-2021 |
| 7 | Quarterly statement of TCS deposited for the 1st Quarter | 15-07-2021 |
| 8 | Due date for issuance of TCS Certificate for Q1 of FY 2020-21 | 30-07-2021 |
| 9 | Due date for furnishing of challan-cum-statement in respect of tax deducted under section 194-IA, 194-IB, 194M for the month of June, 2021 | 30-07-2021 |
| 10 | Quarterly statement of TDS deposited | 30-07-2021 |
| 11 | Certificate of TDS in respect of tax deducted for payments other than salary (Further extentioin of due date from July 15, 2021 to July 31, 2021) | 30-07-2021 |
Read Also: Income Tax: 10 Mistakes to avoid in Tax audit
Important updates – JUNE, 2021:
1. Key Highlights – Due Returns
- The deadline for receiving Form 16 has been extended to July 31, 2021.
- The deadline for linking PAN with Aadhaar has been extended to September 30, 2021.
- The ITR filing deadline for FY 2020-21 has been extended to September 30, 2021 from usual deadline of July 31, 2021.
2. National Faceless Assessment Centre, Delhi, directed
1.to designate the web portal www.incometax.gov.in as the “designatedportal”for the purpose of Faceless Assessment in terms of Explanation (i) to section144B(I)of the Income-tax Act.
- To read more: Click Here
3. “Compliance Check for Section 206AB &; 206CCA”.
The Central Board of Direct Taxes (‘CBDT’), in exercise of powers conferred under section 138 (1) (a) (i) of Income-tax Act, 1961, hereby directs that Director General of Income-tax (Systems), New Delhi shall be the specified income-tax authority for furnishing information to the ‘Tax Deductor / Tax Collector’, having registered in the reporting portal of the Project Insight through valid TAN, to identify the ‘Specified Persons’ for the purposes of section 206AB and 206CCA of the Act through the functionality “Compliance Check for Section 206AB &; 206CCA”.
- To read more: Click Here
Important Notifications – For the month of June – 2021:
| Sl. | Particulars of the Notification(s) | File No. / Circular No. | Link(s) |
| 1. | Guidelines under section 1940 of the Income-tax Act, 1961 – reg. | Notification No. 40/2021][F.No. 370142/8/2021-TPL | LINK |
| 2. | The Central Government specifies the Nodal officers | F. No. 225/53/2020-ITA.II/Notification No.69 /2021 | LINK |
| 3. | TheCentral Government hereby approves M/s Indian Institute of Technology, Bhilai (PAN: AABAI0415K) under thecategory of ‘University, College or other institution’ | Notification No. 70 /2021) F.No.203/ 06/ 2020/ ITA-II | LINK |
| 4. | The Income-tax (17th Amendment) Rules, 2021 | Notification No. 71/2021/F. No. 370142/19/2021-TPL | LINK |
| 5. | Amendments in thenotification of the Government of India, published in the Gazette of India, Extraordinary, vide number S.O. 1790(E), dt. 05.06.2017 | Notification No. 73/ 2021 | LINK |
| 6. | Compliance Check Functionality for Section 206AB & 206CCA of Income-tax Act 1961 | Circular No. 11 of 2021 | LINK |
| 7 | Extension of time limits of certain compliances to provide relief to taxpayers in view of the severe pandemic. | Circular No. 12/2021 | LINK |
| 8 | Partial modification – Taxationand Other Laws (Relaxation and Amendment of Certain Provisions) Act, 2020 | Notification No. 74/2021/ F. No. 370142/35/2020-TPL | LINK |
| 9 | Amendments – Direct Tax Vivad seVishwas Act, 2020 | Notification No. 75/2021 | LINK |
2. Compliance Requirement under GST, 2017
Filing of GSTR –3B
A. Taxpayers having aggregate turnover >Rs. 5 Cr. in preceding FY
| Tax period | Due Date | No interest payable till | Particulars |
| June, 2021 | 20thJuly, 2021 | – | Due Date for filling GSTR – 3B return for the month of June, 2021 for the taxpayer with Aggregate turnover exceeding INR 5 crores during previous year |
B. Taxpayers having aggregate turnover uptoRs. 5 crores in preceding FY (Group A)
| Tax period | Due Date | No interest payable till | Particulars |
| June, 2021 | 22nd July, 2021 | Due Date for filling GSTR – 3B return for the month of June, 2021 for the taxpayer with Aggregate turnover upto INR 5 crores during previous year and who has opted for Quarterly filing of GSTR-3B |
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
C. Taxpayers having aggregate turnover uptoRs. 5 crores in preceding FY (Group B)
| Tax period | Due Date | No interest payable till | Particulars |
| June, 2021 | 24thJuly, 2021 |
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
D. Filing Form GSTR-1:
| Tax period | Due Date | Remarks |
| Monthly return (June, 2021) | 11.07.2021 | 1. GST Filing of returns by registered person with aggregate turnover exceeding INR 5 Crores. 2. Registered person, with aggregate turnover of less then INR 5 Crores, opted for monthly filing of return under QRMP |
E. Non Resident Tax Payers, ISD, TDS & TCS Taxpayers
| Form No. | Compliance Particulars | Timeline | Due Date |
| GSTR-5 & 5A | Non-resident ODIAR services provider file Monthly GST Return | 20th of succeeding month | 20.07.2021 |
| GSTR -6 | Every Input Service Distributor (ISD) | 13th of succeeding month | 13.07.2021 |
| GSTR -7 | Return for Tax Deducted at source to be filed by Tax Deductor | 10th of succeeding month | 10.07.2021 |
| GSTR -8 | E-Commerce operator registered under GST liable to TCS | 10th of succeeding month | 10.07.2021 |
F. Non Resident Tax Payers, ISD, TDS & TCS Taxpayers
| Form No. | Compliance Particulars | Timeline | Due Date |
| Details of outward supply-IFF | Invoice furnishing facility is available for registered person with turnover less than INR 5 Crores and opted for quarterly filing of return. | 13th of succeeding month | 13.07.2021 |
G. GST Refund:
| Form No. | Compliance Particulars | Due Date |
| RFD -10 | Refund of Tax to Certain Persons | 18 Months after the end of quarter for which refund is to be claimed |
Other Returns:
| Form No. | Compliance Particulars | Timeline | Due Date |
| GST CMP-08 | Due date of filing of GST CMP-08 for dealers opted for composition scheme. Quarterly – April to June 2021 | Date was extended from 15.07.2021 | 18.07.2021 |
| GSTR-4 | Annual return for dealers opted for Composition Scheme | For 2020-21 | 31.07.2021 |
| GST return for pending Period-Amnesty Scheme | Filing of Pending GST return with reduced penalty under Amnesty Scheme | July, 2017 to April, 2021 | From 01.6.2021 to 31.08.2021 |
Key UPDATE(s):
1. GSTN enables functionality to lodge complaint of PAN misuse for GST registration
“To check the misuses of PAN in GST Registration, a functionality has been provided at GST Portal to register the complaint. GSTN, which handles the technology backbone of the Goods and Services Tax, has enabled an utility to lodge complaints relating to misuse of PAN for obtaining GST registration, a move aimed at curbing creation of bogus entities for the purpose of tax evasion. Any person whose PAN has been misused can lodge such a complaint. Following that, it would be sent to the concerned tax officer under whose jurisdiction the registration has taken place fraudulently for further action.
- To read more: Click Here
2. Petrol, diesel under GST: HC asks Centre to decide
The Kerala high court has asked the central government to decide on a representation seeking to bring petroleum products under goods and services tax (GST) regime.
A division bench comprising chief justice S Manikumar and justice Shaji P Chaly asked the government to take a decision on the representation raising the demand within six weeks after considering a petition (WP-C No. 12481/2021) filed by Kerala Pradesh Gandhi Darshanvedi through advocate Arun B Varghese. It was alleged by the petitioner that petrol and diesel rates differ in various states as the tax levied by each state is different.
Key GST UPDATES from 01.06.2021 to 30.06.2021:
| Sl. | Notification Particulars | Notification No. | Link(s) |
| 1. | Extension of the due date of filing Application for Revocation of Cancellation of Registration | GSTN Circular 474 | Click Here |
| 2. | Extension in dates of various GST Compliances for GST Taxpayers | GSTN Circular 475 | Click Here |
| 3. | Waiver of interest and late fee for normal taxpayers (filing return on monthly or quarterly basis) and composition taxpayers (Part1) | GSTN Circular 478 | Click Here |
| 4. | Waiver of interest and late fee for normal taxpayers (filing return on monthly or quarterly basis) and composition taxpayers (Part2) | GSTN Circular 477 | Click Here |
| 5. | Upcoming functionalities to be deployed on GST Portal for the Taxpayers | GSTN Circular 481 | Click Here |
| 6 | Webinars on recent functionalities related to Refunds deployed on GST Portal. | GSTN Circular 483 | Click Here |
| 7 | Module wise new functionalities deployed on the GST Portal for taxpayers | GSTN Circular 482 | Click Here |
| 8 | Seeks to appoint 01.06.2021 as the day from which the provisions of section 112 of Finance Act, 2021, relating to amendment of section 50 of the CGST Act, 2017 shall come into force. | 16/2021-Central Tax dated 01.06.2021 | LINK |
| 9 | Seeks to extend the due date for FORM GSTR-1 for May, 2021 by 15 days. | 17/2021-Central Tax dated 01.06.2021 | LINK |
| 10 | Seeks to provide relief by lowering of interest rate for a specified time for tax periods March, 2021to May, 2021. | 18/2021-Central Tax dated 01.06.2021 | LINK |
| 11 | Seeks to rationalize late fee for delay in filing of return in FORM GSTR-3B ; and to provide conditional waiver of late fee for delay in filing FORM GSTR-3B from July, 2017 to April, 2021; and to provide waiver of late fees for late filing of return in FORM GSTR-3B for specified taxpayers and specified tax periods. | 19/2021-Central Tax dated 01.06.2021 | LINK |
| 12 | Seeks to rationalize late fee for delay in furnishing of the statement of outward supplies in FORM GSTR-1. | 20/2021-Central Tax dated 01.06.2021 | LINK |
| 13 | Seeks to rationalize late fee for delay in filing of return in FORM GSTR-4. | 21/2021-Central Tax dated 01.06.2021 | LINK |
| 14 | Seeks to rationalize late fee for delay in filing of return in FORM GSTR-7. | 22/2021-Central Tax dated 01.06.2021 | LINK |
| 15 | Seeks to amend Notification no. 13/2020-Central Tax to exclude government departments and local authorities from the requirement of issuance of e-invoice. | 23/2021-Central Tax dated 01.06.2021 | LINK |
| 16 | Seeks to amend notification no. 14/2021-Central Tax in order to extend due date of compliances which fall during the period from “15.04.2021 to 29.06.2021” till 30.06.2021. | 24/2021-Central Tax dated 01.06.2021 | LINK |
| 17 | Seeks to extend the due date for filing FORM GSTR-4 for financial year 2020-21 to 31.07.2021. | 25/2021-Central Tax dated 01.06.2021 | LINK |
| 18 | Seeks to extend the due date for furnishing of FORM ITC-04 for QE March, 2021 to 30.06.2021. | 26/2021-Central Tax dated 01.06.2021 | LINK |
| 19 | Seeks to make amendments (Fifth Amendment, 2021) to the CGST Rules, 2017. | 27/2021-Central Tax dated 01.06.2021 | LINK |
| 20 | Seeks to amend notification No. 1/2017-Central Tax (Rate) to prescribe change in CGST rate of goods. | 01/2021-Central Tax (Rate) ,dt. 02-06-2021 | LINK |
| 21 | Seeks to amend notification No. 11/2017- Central Tax (Rate) so as to notify CGST rates of various services as recommended by GST Council in its 43rd meeting held on 28.05.2021. | 02/2021-Central Tax (Rate) ,dt. 02-06-2021 | LINK |
| 22 | Seeks to amend notification No. 06/2019- Central Tax (Rate) so as to give effect to the recommendations made by GST Council in its 43rd meeting held on 28.05.2021. | 03/2021-Central Tax (Rate) ,dt. 02-06-2021 | LINK |
| 23 | Seeks to amend notification No. 11/2017- Central Tax (Rate) so as to notify GST rates of various services as recommended by GST Council in its 44th meeting held on 12.06.2021. | 04/2021-Central Tax (Rate) ,dt. 14-06-2021 | LINK |
| 24 | Seeks to provide the concessional rate of CGST on Covid-19 relief supplies, up to and inclusive of 30th September 2021 | 05/2021-Central Tax (Rate) ,dt. 14-06-2021 | LINK |
| 25 | Clarification regarding applicability of GST on supply of food in Anganwadis and Schools. | 149/05/2021-GST | LINK |
| 26 | Clarification in respect of applicability of Dynamic Quick Response (QR) Code on B2C invoices and compliance of notification 14/2020- Central Tax dated 21st March, 2020 | 156/12/2021-GST | Click Here |
| 27 | Webinars on New Functionalities related to Registration and Returns deployed on GST Portal | GSTN Circular 484 | Click Here |
Read Also: GST Weekly Update: Goods and Service Tax May 2021
3. Compliance Requirement UNDER Companies Act, 2013 and Rules made thereunder;
- For all forms except, Charge related:If due date of any form given below falling between 1st April, 2021 to 31st July, 2021 then those forms can be file without additional fees till 31st August, 2021.
- For Charges related forms – In line with the extension provided in General Circular 12/2021 issued by the Ministry of Corporate Affairs, Additional Fee/Ad valorem fee in respect of Charge documents viz. CHG-1 and CHG-9 shall be calculated after excluding No. of days between 01st April 2021 to 31st July 2021 based on the event date entered in the form.
| Applicable Laws/Acts | Due Dates | Compliance Particulars | Forms / Filing mode |
| Companies Act, 2013 | Within 180 Days From The Date Of Incorporation Of The Company (one time compliance only) | As per Section 10 A (Commencement of Business) of the Companies Act, 2013, inserted vide the Companies (Amendment) Ordinance, 2018 w.e.f. 2nd November, 2018, a Company Incorporated after the ordinance and having share capital shall not commence its business or exercise any borrowing powers unless a declaration is filed by the Director within 180 days from the date of Incorporation of the Company with the ROC. | MCA E- Form INC 20A (one time compliance) |
| Companies Act, 2013 | First declaration within 90 days from the date of notification Dt. 08.02.2019 | A person having Significant beneficial owner shall file a declaration to the reporting company http://www.mca.gov.in/Ministry/pdf/CompaniesOwnersAmendmentRules_08020219.pdf i.e. within 90 days of the commencement of the Companies (Significant Beneficial Owners) Amendment Rules, 2019 i.e. 08.02.2019 In case Subsequent Acquisition of the title of Significant Beneficial Owner / Any Change therein a declaration in Form No. BEN-1 required to be filed to the reporting company, within 30 days of acquiring such significant beneficial ownership or any change therein. | Form BEN-1 |
| Companies Act, 2013 | within 30 days of acquiring beneficial interest | Filing of form BEN-2 under the Companies (Significant Beneficial Owners) Rules, 2018. (the date of receipt of declaration in BEN-1 ) CLICK HERE | Form BEN – 2 (e-form deployed by Ministry (ROC)) on 01.07.2019 |
| Companies Act, 2013 | One time Compliance | Filing of the particulars of the Company & its registered office. (by every company incorporated on or before the 31.12.2017.) | Active Form INC -22A |
| Companies Act, 2013 | Annual Compliance (30.09.2021) | *DIN KYC through DIR 3 KYC Form is an Annual Exercise. Last date for filing DIR-3 KYC for Financial year 2020-21is 30th September, 2021 Annual Exercise:CLICK HERE Penalty after due date is Rs. 5000/-(one time) | E-Form DIR – 3 KYC (Web Based and E-form) |
| Companies Act, 2013 | Within 270 days from the date of deployment of this Form | Annual Return To Be Filed By Auditor With The National Financial Reporting Authority CLICK HERE CLICK HERE Click Here Note on NFRA -2 | NFRA-2 (NFRA-2 e-Form live since 9th December 2019.) |
| Companies Act, 2013 | Within 15 days of appointment of an auditor. | The Ministry in its General Circular No. 12/2018 dated 13th December, 2018 clarified that filing of Form NFRA-1 is applicable only for Bodies Corporate and ruled out filing by Companies as defined under sub-section (20) of Section 2 the Act. | E – Form NFRA -1 |
| Companies Act, 2013 | Within 30 days of the board meeting | Filing of resolutions with the ROC regarding Board Report and Annual Accounts. The details of the resolutions passed should be filed. | MGT-14 (Filing of resolution with MCA) |
| Companies Act, 2013 | Within 60 (sixty) days from the conclusion of each half year. | Reconciliation of Share Capital Audit Report (Half-yearly) Pursuant to sub-rule Rule 9A (8) of Companies (Prospectus and Allotment of Securities) Rules, 2014 To be filed all unlisted companies, deemed public companies Till further clarification to be filled in GNL-2 | E-Form PAS – 6 |
| Companies Act, 2013 | 30th June, 2021 | Every company must file DPT 3 for outstanding loans annually. The Companies (Acceptance of Deposits) Amendment Rules, 2019, | E-Form DPT – 3 |
LLP Compliance:
| Applicable Laws/Acts | Due Dates | Compliance Particulars | Forms / Filing mode |
| LLP Act, 2008 | within 60 days from the closure of the financial year (date extended till 31.07.2021) | LLP Annual Filing- An annual statement for submitting details of the business of the LLP and its partners for the FY 2020-21 | Form LLP-11 |
KEY UPDATES – May, 2021:
1. Relaxation in Maximum Gap between Two Board Meetings:
MCA extended gap between two board meetings by 60 days for first two quarters of financial year 2021-22. According to this, the gap between two consecutive Board Meetings may extend to 180 days during the quarters, April to June and July to August.
2. MCA expands small firm definition, raises turnover and borrowing limits
The ministry of corporate affairs has expanded the definition of small and medium companies (SMC), raising their turnover and borrowing limits. This would enable a wider set of companies to avail of greater flexibility in the accounting standards.
The 388-page notification has defined small and medium companies as unlisted entities which are not banks, financial institutions or insurance firms and have a turnover of up to Rs 250 crore and borrowings up to Rs 50 crore in the immediately preceding accounting year. The threshold has been Rs 50 crore and Rs 10 crore for turnover and borrowings under the general accounting standards.
“SMC which is a holding company or subsidiary company of a non-SMC will not qualify as a small and medium company.”The notification also says that an existing company which was not a small and medium company previously but became so subsequently would not be able to avail of any exemptions in accounting standards. It can avail of these exemptions if it continues as a small and medium company for two consecutive accounting periods.
Important Updates
MCA Monthly Update Calendar: JUNE, 2021
| Sl. | Particulars of the Circulars | Link |
| 1 | MCA New V3 Website Overview | Click Here |
| 2 | Companies (Incorporation) 4th Amendment Rules 2021 | Click Here |
| 3 | Companies (Meetings of Board and its Powers) Amendment Rules 2021 | Click Here |
| 4 | Please refer the attached file for the list of forms for which additional fee waiver is made available as per Circular no. 06/2021 and 07/2021. Stakeholders may please take note and plan accordingly | Click Here |
| 5. | Publication of notice u/s 75 of the LLP Act, 2008 read with Rule 37 (2) of Limited Liability Partnership Rules, 2009 | Click Here |
| 6. | Union Minister of State for Finance and Corporate Affairs Shri Anurag Singh Thakur launches IEPFA’s 6 modules of short films titled “Hisab Ki Kitaab” | Click Here |
| 7 | National Financial Reporting Authority seeks comments/suggestions from public and stakeholders on consultation paper on NFRA’s engagement with its stakeholders | Click Here |
| 8 | Companies (Indian Accounting Standards) Amendment Rules, 2021 | Click Here |
| 9 | Companies (Creation and Maintenance of databank of Independent Directors) Amendment Rules, 2021 | Click Here |
| 10 | The Companies (Accounting Standards) Rules, 2021. | Click Here |
| 11 | clarification on passing of ordinary and special resolutions | Click Here |
| 12 | Relaxation on levy of additional fees in filing of certain Forms under the Companies Act, 2013 and LLP Act 2008 – Extension of time | Click Here |
| 13 | Relaxation of time for filing forms related to creation or modification of charges under the Companies Act, 2013-Extension of time – reg. | Click Here |
| 14 | Refer the attached file for the list of forms for which additional fee waiver shall be made available/ extended in line with the General Circulars 11/2021 and 12/2021. Stakeholders may please take note and plan accordingly. CFSS Due Date Extended | Click Here |
| 15. | In line with the extension provided in General Circular 11/2021 issued by the Ministry of Corporate Affairs, stakeholders shall be allowed to file various forms due for filing between 1st April 2021 to 31st July 2021 under the Companies Act 2013 or LLP Act, 2008 without payment of additional fees up to 31st August 2021. Please refer the list of forms under Latest News Section. | Click Here |
| 16. | In line with the extension provided in General Circular 12/2021 issued by the Ministry of Corporate Affairs, Additional Fee/Ad valorem fee in respect of Charge documents viz. CHG-1 and CHG-9 shall be calculated after excluding No. of days between 01st April 2021 to 31st July 2021 based on the event date entered in the form | Click Here |
| 17. | eform CFSS-2020 may be filed till 31st August 2021. Stakeholders may please note and plan accordingly. | Click Here |
The author of the above article is CS Lalit Rajput, Partner at Xcede Consultech LLP.
Email id: [email protected]
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