CS Executive Updates

Forwarded from GST MCQ (Commerce Updates)

Compliance Calendar for September-2020

✅ INCOME TAX
FY 2018-19
Extended due date of ITR for AY 2019-20 for all assessee : 30th September 2020
The due date for filing of return of income U/s 139 for the AY 2019-20 has been extended to 30/09/2020.

FY 2020-21
▪️07th September 2020- TDS deducted /TCS collected for the month of August, 2020 (other than TDS / TCS by an office of the government)
▪️15th September 2020- Advance tax second installment for FY 2020-21

✅ GST
GSTR 3B : Taxpayer having aggregate turnover more than Rs.5 crores in preceding FY
▪️ 20th Sept 2020 for the month of August 2020

GSTR 1 : Taxpayer having aggregate turnover more than Rs.1.50 crores in preceding FY
▪️11th Sept 2020 – for the month of August 2020 (for those where monthly GSTR-1 is applicable / opted )

GSTR 3B : Taxpayer having aggregate turnover upto Rs.5 crores in preceding FY
Group A category State :-
▪️For the month of May 2020 - 12th Sept 2020
▪️For the month of June 2020 - 23rd Sept 2020
▪️For the month of July 2020 - 27th Sept 2020
For the month of August 2020 - 1st October 2020

GSTR 3B : Taxpayer having aggregate turnover upto Rs.5 crores in preceding FY
Group B category State :-
▪️For the month of May 2020 - 15th Sept 2020
▪️For the month of June 2020 - 25th Sept 2020
▪️For the month of July 2020 - 30th Sept 2020
▪️For the month of August 2020 - 3rd October 2020

GSTR 7 : Return for Tax Deducted at source to be filed by Tax Deductor
▪️For the month of August 2020 - 10th September 2020

GSTR 8 : Return of E-Commerce operator registered under GST liable to TCS
▪️For the month of August 2020 - 10th September 2020

GST Late fee amnesty scheme
Maximum Late Fee of Rs.500/- per Return & NIL if no tax Liability on GSTR 3B from July 2017 to January 2020, if filed on or before 30th September 2020.

GST Annual Return for FY 2018-19
▪️ 30th Sept 2020- GSTR-9 / 9A Annual return (Taxpayers having an aggregate turnover of more than Rs. 2 crores or opted to file Annual Return)

GST Audit / Reconciliation Statement for FY 2018-19
▪️ 30th Sept 2020- GSTR-9C Audit (for Taxpayers having a Turnover of more than Rs. 5 crores)

✅ CORPORATE COMPLIANCE
▪️ 29th Sept 2020- Due date for applying for extension of AGM in GNL -1, Kindly note due date of AGM is 30.09.2020 for FY 19-20

▪️ 30th Sept 2020- Due date of filing of DPT-3 (deposit and loans details) subject to filing of one additional form (form yet to be notified) under CFSS scheme within a period between October 1, 2020 to March 31, 2021.

▪️ 30th Sept 2020- Due date of updating KYC of Director in MCA records.

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