The Central Board of Direct Taxes, via Circular No. 9 of 2021 dated 20th May 2021 has extended the due dates of Income Tax Return, Tax Audit, TDS Statement and Other Compliances to provide relief to taxpayers in view of the COVID-19 pandemic. The extended dates have been listed below:
- The due date of furnishing of Report of Audit under any provision of the Act for the Previous Year 2020-21, which is 30th September 2021, is extended to 31st October 2021;
- The due date of furnishing Report from an Accountant by persons entering into international transaction or specified domestic transaction under section 92E of the Act for the Previous Year 2020-21, which is 31st October 2021, is extended to 30th November 2021;
- The due date of furnishing of Return of Income for the Assessment Year 2021-22, which is 31st October 2021 under sub-section (1) of section 139 of the Act, is extended to 30th November 2021;
- The due date of furnishing of Return of Income for the Assessment Year 2021-22, which is 30th November 2021 under sub-section (1) of section 139 of the Act, is extended to 318t December 2021;
- The due date of furnishing of belated/revised Return of Income for the Assessment Year 2021-22, which is 31st December 2021 under sub-section (4)/sub-section (5) of section 139 of the Act, is extended to 31st January 2022.
To read the official announcement of due date extension by CBDT, click here
CBIC, via Notification No. No. 09/2021- Central Tax dated 1st May 2021 has extended the due date of filing GSTR-1, IFF, GSTR-4 and ITC-04. Check out the extended due dates below:
- Due date of filing FORM GSTR-1 and IFF for the month of April (due in May) has been extended by 15 days.
- Due date of filing FORM GSTR-4 for FY 2020-21 has been extended from 30th April, 2021 to 31st May, 2021.
- Due date of furnishing FORM ITC-04 for Jan-March, 2021 quarter has been extended from 25th April, 2021 to 31st May, 2021.
- Certain amendments in CGST Rules:
- Relaxation in availment of ITC: Rule 36(4) i.e. 105% cap on availment of ITC in FORM GSTR-3B to be applicable on cumulative basis for period April and May 2021, to be applied in the return for tax period May 2021. Otherwise, rule 36(4) is applicable for each tax period.
- The filing of GSTR-3B and GSTR-1/ IFF by companies using electronic verification code has already been enabled for the period from the 27.04.2021 to 31.05.2021.
- Extension in statutory time limits under section 168A of the CGST Act: Time limit for completion of various actions, by any authority or by any person, under the GST Act, which falls during the period from 15th April, 2021 to 30th May, 2021, has been extended upto 31st May, 2021, subject to some exceptions as specified in the notification.
To read the official announcement of due date extension by CBIC, click here
It is now universally acknowledged that the upheaval caused by the COVID-19 pandemic has been unprecedented and still raging. Owing to the pandemic, the Central Government has overtime extended the due dates for various compliances. However, with the due dates of GST Annual Return, Tax Audit Report, Transfer Pricing Audit, Income Tax Return, and various other Audit Reports approaching, numerous problems are still being faced by professionals. Due to this, there has been an increasing demand to extend the due dates for various compliances.
Let's have a look at the current compliance dates, and the extension demanded-
|
Particulars |
Current Due Date |
Proposed Due Date |
|
Tax Audit Report |
31st December 2020 |
28th February 2021 |
|
Transfer Pricing Audit Return |
31st December 2020 |
28th February 2021 |
|
Income Tax Returns (ITRs) for AY 2020-21 |
31st December 2020 |
28th February 2021 |
|
Income Tax Returns (Tax Audit) for AY 2020-21 |
31st January 2021 |
31st March 2021 |
|
Furnishing of declaration under Vivad Se Vishwas Act, 2020 |
31st December 2021 |
15th March 2021 |
|
GSTR-9, 9A, and 9C for FY 2018-19 |
31st December 2020 |
31st March 2021 |
|
GSTR-9, 9A, and 9C for FY 2019-20 |
31st December 2020 |
30th June 2021 |
|
Holding of AGM by companies for the financial year 2019-20 ended on 31.3.2020 |
31st December 2020 |
31st March 2021 |
Of late, numerous organizations have also come forward and requested Finance Minister Smt. Nirmala Sitharaman for an extension of various due date compliances. Certain new developments have accentuated this.
1. Firstly, the emergence of a new strain of the coronavirus spreading in the UK and elsewhere has added to the uncertainty and hardships people are already facing. Though the new strain is yet to be seen in the country, there are increasing apprehensions about its possible effects, particularly its impact on professionals. It is likely that people's work capacity, and in this case, Chartered Accountants, Tax Advocates, Tax Practitioners, and Article Assistants, etc, will be affected.
2. Another reason why numerous entities have been demanding the extension is due to the ongoing protests staged by the farmers in the country. Sections of the Delhi border adjoining Uttar Pradesh and Haryana have been sealed due to the protests. This has adversely impacted the working capacity of tax and accounting professionals.
3. It is also to be noted that the Maharashtra government has imposed a night curfew till January 5 in major cities, including the financial capital Mumbai. A similar curfew has also been in place at Bhilwara and other cities. This too is expected to hinder the working of tax officials, especially with the due dates coming near.
In addition to all these, there are other reasons behind the appeal to extend the due dates. You can read them over here.
Let us have a detailed look at the demands of various associations. These demands mainly pertain to the deadlines under the Income Tax Act for AY 2020-21, and those under the GST Act for FY 2018-19 and 2019-20.
|
Sr. No. |
Request Made By |
Date of Request |
Requested Date |
|
1.o:p> |
Western Maharashtra Tax Practitioners' Association |
9th Dec 2020 |
Tax Audit Report: 28th February 2021 ITR: 31st March 2021 |
|
2. |
Gujarat Sales Tax Bar Association |
12th Dec 2020 |
GSTR-9, 9A, 9C (FY 2019-20): 30th June 2021 |
|
3. |
Chamber Of Tax Consultants |
12th Dec 2020 |
TTax Audit, Transfer Pricing Audit: 28th February 2021 ITR: 31st March 2021 |
|
4. |
Tax Practitioners' Association, Indore |
12th Dec 2020 |
Tax Audit, Transfer Pricing Audit, Income Tax Return: 28th February 2021 ITR (Tax Audit): 31st March 2021 |
|
5. |
AGFTC, ITBC, and CAA |
14th Dec 2020 |
Tax Audit Report, ITR (Tax Audit): 31st March 2021 |
|
6. |
15th Dec 2020 |
ITR, ITR (Tax Audit), TAR, Transfer Pricing Audit: 31st March 2021 GSTR-9, 9C (FY 2018-19, 2019-20): 31st March 2021 |
|
|
7. |
Tax Bar Association, Bhilwara |
15th Dec 2020 |
TAR: 28th February 2021 ITR: 31st March 2021 |
|
8. |
Direct Taxes Professionals' Association |
15th Dec 2020 |
TAR, ITR: 31st March 2021 AGM of Companies: 31st March 2021 Declaration under Vivad Se Vishwas Scheme: 15th March 2021 |
|
9. |
CA Social Affiliation (CASA) |
15th Dec 2020 |
TAR, Transfer Pricing Audit: 28th February 2021 ITR: 31st March 2021 (for all assessee) |
|
10. |
Association of Tax Payers & Professional, Agra |
15th Dec 2020 |
GSTR-9: 31st January 2021 GSTR-9A, 9C: 31st March 2021 |
|
11. |
16th Dec 2020 |
TAR: 28th February 2021 ITR for AY 2019-20: 31st January 2021 ITR (all assessee) for AY 2020-21: 31st March 2021 |
|
|
12. |
Jamshedpur Chartered Accountants Society |
16th Dec 2020 |
TAR, ITR: 31st March 2021 |
|
13 |
Emerging Businesses Chamber Of Commerce |
17th Dec 2020 |
Tax Audit Report, TP Audit: 28th February 2021 ITR: 28th Feb 2021 ITR (Tax Audit): 31st March 2021 |
|
14. |
Chartered Accountants Association, Jalandhar |
19th Dec 2020 |
TAR: 28th February 2021 ITR: 31st January 2021 ITR (Tax Audit): 31st March 2021 |
|
15. |
All India Federation of Tax Practitioners (CZ) |
19th Dec 2020 |
TAR, ITR: 28th February 2021 ITR (Tax Audit): 31st March 2021 Vivad Se Vishwas Scheme: 31st January 2021 |
|
16. |
Vyyapaar Mandal Association, Nagore & All India MSME and Tax Practitioners Association |
19th Dec 2020 |
ITR, Tax Audit, GSTR Annual Returns: 31st March 2021 |
|
17. |
Uttar Pradesh Tax Bar Association |
ITR, TAR: 31st March 2021 |
|
|
18. |
Tax Bar Association Guwahati |
19th Dec 2020 |
TAR: 28th February 2021 ITR: 31st March 2021 (for all assessee) |
|
19. |
Tax Bar Association Guwahati |
21st Dec 2020 |
GSTR-9, 9C (FY 2018-19): 31st march 2021 GGSTR-9, 9C (FY 2019-20): 30th June 2021 |
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