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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

Corporate Compliance Calendar for the m/o July, 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

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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.

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

LINK

4.

The Income-tax (17th Amendment) Rules, 2021

Notification No. 71/2021/F. No. 370142/19/2021-TPL

LINK

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

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 - Taxation and 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 se Vishwas 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

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

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

 

To read the full article, Click Here


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Category Corporate Law, Other Articles by - CS Lalit Rajput 



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