GST Due Dates in September 2020

GST registration in Lucknow

1)  GSTR-1

GSTR-1 is a monthly or quarterly return that should be filed by every registered dealer. It contains details of all outward supplies i.e sales. The return has a total of 13 sections.

The due dates for GSTR-1 are based on your turnover. Businesses with sales of upto Rs. 1.5 crore have an option to file quarterly returns. Other taxpayers with sales above Rs. 1.5 crore have to file monthly return.

PeriodicityPeriodDue Date
Monthly filingsAugust 202011-09- 2020
Quarterly filingsJuly 2020 to September, 202031-10- 2020

2) GSTR-3B

GSTR-3B is a monthly self-declaration to be filed by a registered GST dealer along with GSTR 1 and GSTR 2 return forms. It is a simplified return to declare summary GST liabilities for a tax period. IMPORTANT: You have to file GSTR-3B even when there has been no business activity (nil return)

Turnover
(in the preceding Financial
Year)
Tax PeriodDue DateDate up to Which relaxation ProvidedInterest*
Upto Rs. 5 Crore
(Specified States-I)
May 202022-06- 202012-09- 2020NIL up to  12-09- 2020, thereafter 9% till  3-09- 2020
Upto Rs. 5 Crore
(Specified States-I)
June 202022-07- 202023-09-2020NIL up to 23-09-2020, thereafter 9% till September 30, 2020
Upto Rs. 5 Crore
(Specified States-I)
July 202022-08 202027-09- 2020NIL up to 27-09-2020, thereafter 9% till 30-09-2020
Upto Rs. 5 Crore
(Specified States-I)
August 202022-09- 202001-10-2020.NIL upto 1-10- 2020
Upto Rs. 5 Crore
(Specified Sates-II)
May 202024-06- 202015-09- 2020NIL upto 15-09- 2020, thereafter 9% till 30-09-2020
Upto Rs. 5 Crore
(Specified Sates-II)
June 202024-07- 202025-09-2020NIL upto 25-09- 2020, thereafter 9% till 30-09-2020
Upto Rs. 5 Crore
(Specified Sates-II)
July 202024-08- 202029-09-2020NIL upto 29-09- 2020, thereafter 9% till 30-09-2020
Upto Rs. 5 Crore
(Specified Sates-II)
August 2002024-09- 202003-10-2020 NIL upto 03-10-2020
More than Rs. 5 CroreAugust 202020-09- 2020Not extended

Specified States-I 

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

Specified Sates-II

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

3) GSTR 5 and 5A

Every  registered non-resident taxable person is required to furnish a return in GSTR-5 in GST Portal. Non-Resident foreign taxpayers are those suppliers who do not have a business establishment in India and have come for a short period to make supplies in India. Such a person is required to furnish details of all taxable supplies in GSTR-5

 A Return in Form GSTR-5A has been prescribed which is to be furnished by the OIDAR service providers providing services to unregistered service recipients in India

PeriodDue Date
August, 202020-09-2020

4) GSTR 6

Every Input Services Distributor is required to file a monthly return furnishing details of invoices on which credit has been received. The due date for filing of GSTR 6 as per GST Act is 13th of next month.

PeriodDue Date
August, 202013-09-2020

 5) GSTR-7

GSTR-7 is a monthly return to be filed by the persons required to deduct TDS under the GST. Filing of GSTR 7 for a month is due on 10th of the following month.

PeriodDue Date
August, 202010-09-2020

6) GSTR-8

GSTR-8 is a return to be filed by the e-commerce operators who are required to deduct TCS (Tax collected at source) under GST. GSTR-8 contains the details of supplies effected through e-commerce platform and amount of TCS collected on such supplies. GSTR-8 filing for a month is due on 10th of the following month.

PeriodDue Date
August, 202010-09-2020

7) GSTR-9, 9A

GSTR 9 is an annual return to be filed yearly by taxpayers registered under GST. All taxpayers/taxable persons registered under GST must file their GSTR 9. However, the following are NOT required to file GSTR 9:

  • Taxpayers opting composition scheme (They must file GSTR-9A)
  • Casual Taxable Person
  • Input service distributors
  • Non-resident taxable persons

Persons paying TDS under section 51 of CGST Act.

GSTR-9 filing for businesses with turnover up to Rs 2 crore made optional for FY 17-18 and FY 18-19

The GSTR-9A is the annual return to be filed once in a year by taxpayers who have opted for the Composition Scheme under GST for a particular financial year.

Period F.Y. 2018-19   Due Date 30-09-2020

8) GSTR- 9C

Every registered person whose aggregate turnover during a financial year exceeds two crore rupees shall get his accounts audited as specified under sub-section (5) of section 35 of the CGST Act, and shall furnish a copy of the audited annual accounts and a reconciliation statement, duly certified, in FORM GSTR-9C.

For businesses with an annual turnover of less than Rs 5 crore, filing of GSTR-9C for FY 2018-19 is waived off

PeriodDue Date
F.Y 2018-1930-09-2020

Know Your ITR Form For A.Y. 2020-21 (F.Y.2019-20)

private company registration in lucknow

ITR-1 (Sahaj)

For Individuals being a Resident (other than Not Ordinarily Resident) having Total Income upto Rs.50 lakhs, having Income from Salaries, One House Property, Other Sources (Interest etc.), and Agricultural Income upto Rs.5 thousand(Not for an Individual who is either Director in a company or has invested in Unlisted Equity Shares)

ITR -2

For Individuals and HUFs not having income from profits and gains of business or profession

ITR-3

For individuals and HUFs having income from profits and gains of business or profession

ITR-4 (Sugam)

For Individuals, HUFs and Firms (other than LLP) being a Resident having Total Income upto Rs.50 lakhs and having income from Business and Profession which is computed under sections 44AD, 44ADA or 44AE
(Not for an Individual who is either Director in a company or has invested in Unlisted Equity Shares)

ITR-5

For persons other than:-
(i) Individual,
(ii) HUF,
(iii) Company and
(iv) Person filing Form ITR-7

ITR-6

This form is for Companies other than companies claiming exemption under Section 11 of the Income Tax Act, 1961.

ITR-7

For persons including companies required to furnish return under sections 139(4A) or 139(4B) or 139(4C) or 139(4D)

For Professional assisted Tax Filing

TDS on Payment by E-Commerce Operator (ECO) wef 01.10.2020 (Section 194-O):

TDS @ 1% on Payments made to E- Commerce Participants (ECP) by E- Commerce Operator u/s. 194-O w.e.f. 01.10.2020

The Finance Act, 2020 has introduced a new Section 194-O for deducting 1% TDS on Payments made to E-Commerce Participants, which will be applicable for the transactions from 1.10. 2020  onward.

If any person purchased any product or received any service through an e-Commerce Operator (A person who owns operates or manages digital or electronic facility or platform for electronic commerce) from any Person then TDS should be deducted by e-Commerce Operator as per section. 194-O. The detailed provision are as follows.

Section 194O TDS on Payment of certain sums by the e-commerce operator to e-commerce participant w.e.f 01.10.2020

1. Tax to be deducted by e-Commerce Operator at the rate of 1% (as per sec. 206AA – 5% if PAN of the deductee is not available) of the value (Excluding GST) of goods or services of an ECP sold through an e-Commerce Operator using his website At the time of credit or payment (whichever is earlier) of the amount of sale to the account of an ECP by ECO. (Explanation to Sub Sec. 1 – any payment made by Buyer of goods or services directly to an ECP, shall be deemed to be the amount credited or paid by the ECO to the ECP and shall be included in the value of the sale of goods or services for the purpose of deduction of tax under this sub-section)

2. No TDS: where the ECPis Individual or HUF and the Amount paid/expected to be paid by ECO to ECP during the previous year does not exceed 5,00,000 rupees & ECP furnished PAN or Aadhar to ECO.

3. No TDS should be deducted under any other provisions If TDS is deducted under Sub Sec. 1 or No TDS  is required to be deducted as per Sub Sec. 2 

4. The Board (Tax Department) may, with the approval of the Central Government, issue guidelines for the purpose of removing the difficulty in giving effect to the provisions of this section

5. Such Guidelines shall be laid before each House of Parliament and shall be binding on the income-tax authorities and on the ECO.

To transfer/shift the money available in Electronic Cash ledger, between various major and minor heads of GST, Just File FORM GST PMT 09

27/04/2020

Taxpayers deposit money using challan and the paid amount gets credited in the particular head in the Electronic Cash ledger and the same can be utilized in settling liabilities of that head only. In case a taxpayer deposited any amount under a major head i.e. IGST, CGST, SGST/UTGST and Cess or minor head i.e. Tax, Interest, Penalty, Fee and Others, they can then utilize this amount for discharging their liabilities only under that major head and minor head. Sometimes, inadvertently, the taxpayer pays the amount under the wrong head and it cannot be used to discharge the liabilities which may be due in another head. In such cases taxpayers can claim the refund of the amount which may have been deposited under wrong head in GST by filing a refund application in FORM RFD-01 under the category “Excess balance in electronic cash ledger”. The process of filing refund claim and its disbursement can sometimes lead to blockage of funds for the taxpayer.

Form GST PMT-09 is now available on GST portal and it enables a taxpayer to make intra-head or inter-head transfer of amount available in Electronic Cash Ledger. A taxpayer can file GST PMT 09 for transfer of any amount of tax, interest, penalty, fee or others available under one (major or minor) head to another (major or minor) head in the Electronic Cash Ledger. Form GST PMT 09 provides flexibility to taxpayers to make multiple transfers from more than one Major/Minor head to another Major/Minor head if the amount is available in the Electronic Cash Ledger. To file Form GST PMT-09 taxpayers are required to login on GST portal with valid credentials and navigate to Services > Ledgers > Electronic Cash Ledger > File GST PMT-09 For Transfer of Amount option. After Form GST PMT-09 is filed:

  • ARN is generated on successful filing of Form GST PMT-09.
  • An SMS and an email is sent to the taxpayer on his registered mobile and email id.
  • Electronic Cash ledger will get updated after successful filing of Form GST PMT-09.
  • Filed form GST PMT-09 will be available for view/download in PDF format on GST portal.

Finance Minister announces several relief measures relating to Statutory and Regulatory compliance matters across Sectors in view of COVID-19 outbreak

quick consult gst registration

The Union Finance &Corporate Affairs Minister Smt. Niramla Sitharaman today announced several important relief measures taken by the Government of India in view of COVID-19 outbreak, especially on statutory and regulatory compliance matters related to several sectors.

 While addressing the press conference through video conferencing here today, Smt. Sitharaman announced much-needed relief measures in areas of Income Tax, GST, Customs &Central Excise, Corporate Affairs, Insolvency &Bankruptcy Code (IBC) Fisheries, Banking Sector and Commerce. The Minister of State for Finance &Corporate Affairs Shri Anurag Singh Thakur was also present besides Shri A.B. Pandey, Finance Secretary and Shri Atanu Chakraborty, Secretary, Department of Economic Affairs.

Following are the decisions with respect to statutory and regulatory compliance matters related to various sectors: —

 Income Tax

1.Extend last date for income tax returns for (FY 18-19) from 31st March, 2020 to 30th June, 2020

2. Aadhaar-PAN linking date to be extended from 31st March, 2020 to 30th  June, 2020.

 3. Vivad se Vishwas scheme – no additional 10% amount, if payment made by June 30, 2020.

 4. Due dates for issue of notice, intimation, notification, approval order, sanction order, filing of appeal, furnishing of return, statements, applications, reports, any other documents and time limit for completion of proceedings by the authority and any compliance by the taxpayer including investment in saving instruments or investments for roll over benefit of capital gains under Income Tax Act, Wealth Tax Act, Prohibition of Benami Property Transaction Act, Black Money Act, STT law, CTT Law, Equalization Levy law, Vivad Se Vishwas law where the time limit is expiring between 20th March 2020 to 29th June 2020 shall be extended to 30th June 2020.

5. For delayed payments of advanced tax, self-assessment tax, regular tax, TDS, TCS, equalization levy, STT, CTT made between 20th March 2020 and 30th June 2020, reduced interest rate at 9% instead of 12 %/18 % per annum ( i.e. 0.75% per month instead of 1/1.5 percent per month) will be charged for this period. No late fee/penalty shall be charged for delay relating to this period.

 5. Necessary legal circulars and legislative amendments for giving effect to the aforesaid relief shall be issued in due course.

 GST/Indirect Tax

1.Those having aggregate annual turnover less than Rs. 5 Crore Last date can file GSTR-3B due in March, April and May 2020 by the last week of June, 2020. No interest, late fee, and penalty to be charged.

 2. Others can file returns due in March, April and May 2020 by last week of June 2020 but the same would attract reduced rate of interest @9 % per annum from 15 days after due date (current interest rate is 18 % per annum). No late fee and penalty to be charged, if complied before till 30th June 2020.

3. Date for opting for composition scheme is extended till the last week of June, 2020. Further, the last date for making payments for the quarter ending 31st March, 2020 and filing of return for 2019-20 by the composition dealers will be extended till the last week of June, 2020.

 4. Date for filing GST annual returns of FY 18-19, which is due on 31st March, 2020 is extended till the last week of June 2020.

 5. Due date for issue of notice, notification, approval order, sanction order, filing of appeal, furnishing of return, statements, applications, reports, any other documents, time limit for any compliance under the GST laws where the time limit is expiring between 20th March 2020 to 29th June 2020 shall be extended to 30th June 2020.

6. Necessary legal circulars and legislative amendments to give effect to the aforesaid GST relief shall follow with the approval of GST Council.

 7. Payment date under Sabka Vishwas Scheme shall be extended to 30th June, 2020. No interest for this period shall be charged if paid by 30th June, 2020.

 8. Customs 24X7 Custom clearance till end of 30th June, 2020.

9. Due date for issue of notice, notification, approval order, sanction order, filing of appeal, furnishing applications, reports, any other documents etc., time limit for any compliance under the Customs Act and other allied Laws where the time limit is expiring between 20th March 2020 to 29th June 2020 shall be extended to 30th June 2020.

 Financial Services

Relaxations for 3 months Debit card holders to withdraw cash for free from any other banks’ ATM for 3 months Waiver of minimum balance fee Reduced bank charges for digital trade transactions for all trade finance consumers.

 Corporate Affairs

 1.No additional fees shall be charged for late filing during a moratorium period from 01st April to 30th September 2020, in respect of any document, return, statement etc., required to be filed in the MCA-21 Registry, irrespective of its due date, which will not only reduce the compliance burden, including  financial burden of companies/ LLPs at large, but also enable long-standing non-compliant companies/ LLPs to make a ‘fresh start’;

2.The mandatory requirement of holding meetings of the Board of the companies within prescribed interval provided in the Companies Act (120 days), 2013, shall be extended by a period of 60 days till next two quarters i.e., till 30th September;

3. Applicability of Companies (Auditor’s Report) Order, 2020 shall be made applicable from the financial year 2020-2021 instead of from 2019-2020 notified earlier. This will significantly ease the burden on companies &their auditors for the year 2019-20.

 4. As per Schedule 4 to the Companies Act, 2013, Independent Directors are required to hold at least one meeting without the attendance of Non-independent directors and members of management. For the year 2019-20, if the IDs of a company have not been able to hold even one meeting, the same shall not be viewed as a violation.

 5. Requirement to create a Deposit reserve of 20% of deposits maturing during the financial year 2020-21 before 30th April 2020 shall be allowed to be complied with till 30th June 2020. 5. Requirement to invest 15% of debentures maturing during a particular year in specified instruments before 30th April 2020, may be done so before 30th June 2020.

7. Newly incorporated companies are required to file a declaration for Commencement of Business within 6 months of incorporation. An additional time of 6 more months shall be allowed.

 8. Non-compliance of minimum residency in India for a period of at least 182 days by at least one director of every company, under Section 149 of the Companies Act, shall not be treated as a violation.

 9. Due to the emerging financial distress faced by most companies on account of the large-scale economic distress caused by COVID 19, it has been decided to raise the threshold of default under section 4 of the IBC 2016 to Rs 1 crore (from the existing threshold of Rs 1 lakh). This will by and large prevent triggering of insolvency proceedings against MSMEs. If the current situation continues beyond 30th of April 2020, we may consider suspending section 7, 9 and 10 of the IBC 2016 for a period of 6 months so as to stop companies at large from being forced into insolvency proceedings in such force majeure causes of default.

10. Detailed notifications/circulars in this regard shall be issued by the Ministry of Corporate Affairs separately.

Department of Fisheries

1.All Sanitary Permits (SIPs) for import of SPF Shrimp Broodstock and other Agriculture inputs expiring between 01.03.2020 to 15.04.2020 extended by 3 months.

2. Delay upto 1 month in arrival of consignments to be condoned. 3.Rebooking of quarantine cubicles for cancelled consignments in Aquatic Quarantine Facility (AQF) Chennai without additional booking charges .

4. The verification of documents and grant of NOC for Quarantine would be relaxed from 7 days to 3 days Department of Commerce Extension of timelines for various compliance and procedures will be given.

Detailed notifications will be issued by Ministry of Commerce.

Source : PIB Delhi