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 extension of due date from July 15, 2021 to July 31, 2021) |
30-07-2021 |
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 to designate the web portal www.incometax.gov.in as the "designated portal" 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 |
|
|
2. |
The Central Government specifies the Nodal officers |
F. No. 225/53/2020-ITA.II/Notification No.69 /2021 |
|
|
3. |
The Central Government hereby approves M/s Indian Institute of Technology, Bhilai (PAN: AABAI0415K) under the category of ‘University, College or other institution’ |
Notification No. 70 /2021) F.No.203/ 06/ 2020/ ITA-II |
|
|
4. |
The Income-tax (17th Amendment) Rules, 2021 |
Notification No. 71/2021/F. No. 370142/19/2021-TPL |
|
|
5. |
Amendments in the notification 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 |
|
|
6. |
Compliance Check Functionality for Section 206AB & 206CCA of Income-tax Act 1961 |
Circular No. 11 of 2021 |
|
|
7 |
Extension of time limits of certain compliances to provide relief to taxpayers in view of the severe pandemic. |
Circular No. 12/2021 |
|
|
8 |
Partial modification - Taxation and Other Laws (Relaxation and Amendment of Certain Provisions) Act, 2020 |
Notification No. 74/2021/ F. No. 370142/35/2020-TPL |
|
|
9 |
Amendments - Direct Tax Vivad se Vishwas Act, 2020 |
Notification No. 75/2021 |
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 |
20th July, 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 upto Rs. 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 upto Rs. 5 crores in preceding FY (Group B)
|
Tax period |
Due Date |
No interest payable till |
Particulars |
|
June, 2021 |
24th July, 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 |
|
|
2. |
Extension in dates of various GST Compliances for GST Taxpayers |
GSTN Circular 475 |
|
|
3. |
Waiver of interest and late fee for normal taxpayers (filing return on monthly or quarterly basis) and composition taxpayers (Part1) |
GSTN Circular 478 |
|
|
4. |
Waiver of interest and late fee for normal taxpayers (filing return on monthly or quarterly basis) and composition taxpayers (Part2) |
GSTN Circular 477 |
|
|
5. |
Upcoming functionalities to be deployed on GST Portal for the Taxpayers |
GSTN Circular 481 |
|
|
6 |
Webinars on recent functionalities related to Refunds deployed on GST Portal. |
GSTN Circular 483 |
|
|
7 |
Module wise new functionalities deployed on the GST Portal for taxpayers |
GSTN Circular 482 |
|
|
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 |
|
|
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 |
|
|
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 |
|
|
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 |
|
|
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 |
|
|
13 |
Seeks to rationalize late fee for delay in filing of return in FORM GSTR-4. |
21/2021-Central Tax dated 01.06.2021 |
|
|
14 |
Seeks to rationalize late fee for delay in filing of return in FORM GSTR-7. |
22/2021-Central Tax dated 01.06.2021 |
|
|
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 |
|
|
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 |
|
|
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 |
|
|
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 |
|
|
19 |
Seeks to make amendments (Fifth Amendment, 2021) to the CGST Rules, 2017. |
27/2021-Central Tax dated 01.06.2021 |
|
|
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 |
|
|
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 |
|
|
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 |
|
|
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 |
|
|
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 |
|
|
25 |
Clarification regarding applicability of GST on supply of food in Anganwadis and Schools. |
149/05/2021-GST |
|
|
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 |
|
|
27 |
Webinars on New Functionalities related to Registration and Returns deployed on GST Portal |
GSTN Circular 484 |
To read the full article, Click Here
CAclubindia
