Extended Due Dates for compliance under GST, Income Tax & Companies Act

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Studycafe | May 25, 2021 | Views 1290032

Extended Due Dates for compliance under GST, Income Tax & Companies Act

Extended Due Dates for compliance under GST, Income Tax & Companies Act

The government has extended due dates of various compliances under GST, Income Tax & Companies Act. This Article Discusses the Original and Extended Deadlines.

Extended Due Dates for compliance under Goods & Service Tax [GST]

Forms to be filed Taxpayer Type Period Due Date Extension
GSTR-7 Taxpayer who is required to deduct TDS as per GST Act Apr-21 10-05-2021 31-05-2021
GSTR-8 Taxpayer who is required to collect TCS as per GST Act Apr-21 10-05-2021 31-05-2021
GSTR-1 Normal Registered Taxpayer who has not opted for Quarterly Return Monthly Payment (QRMP) Scheme Apr-21 11-05-2021 26-05-2021
GSTR-6 A taxpayer having registration of Input Service Distributor (ISD) Apr-21 13-05-2021 31-05-2021
(Invoice Furnishing Facility) IFF Registered Taxpayer who has opted for Quarterly Return Monthly Payment (QRMP) Scheme Apr-21 13-05-2021 28-05-2021
GSTR-5 Non-Resident Taxpayer Apr-21 20-05-2021 31-05-2021
GSTR-4 Composition Tax Payer FY 2020-21 30-04-2021 31-05-2021

Please note that the due date for filing of Form GST ITC-04 (to be filed by Principal/Manufacturer for goods sent/received/supplied from Job Worker) for the quarter Jan-March, 2021, (due date 25th April, 2021) has been extended till 31st May, 2021

Reduced Rate of Interest for delay in filing GSTR 3B for taxpayers

Notification No. 08/2021 – Central Tax

Aggregate Turnover Tax Period NIL Interest 9% Interest 18% Interest
More Than INR 5 Crores March, 2021 NA From 21.04.2021 To 05.05.2021 From 06.05.2021 Till Filing of Return
April, 2021 NA From 21.05.2021 To 04.06.2021 From 05.06.2021 Till Filing of Return
Up To INR 5 Crores (Who Opted Monthly Filing of Returns) March, 2021 From 21.04.2021 To 05.05.2021 From 06.05.2021 To 20.05.2021 From 21.05.2021 Till Filing of Return
April, 2021 From 21.05.2021 To 04.06.2021 From 05.06.2021 To 19.06.2021 From 20.06.2021 Till Filing of Return
Up To INR 5 Crores (QRMP) Madhya Pradesh, Gujarat, Maharashtra, Kerala, etc. March, 2021 From 23.04.2021 To 07.05.2021 From 08.05.2021 To 22.05.2021 From 23.05.2021 Till Filing of Return
April, 2021 From 26.05.2021 To 09.06.2021 From 09.06.2021 To 23.06.2021 From 24.06.2021 Till Payment of tax
Up To INR 5 Crores (QRMP) Punjab, Haryana, Delhi, Rajasthan, U.P, Assam etc. March, 2021 From 25.04.2021 To 09.05.2021 From 10.05.2021 To 24.05.2021 From 25.05.2021 Till Filing of Return
April, 2021 From 26.05.2021 To 09.06.2021 From 09.06.2021 To 23.06.2021 From 24.06.2021 Till Payment of tax
CMP – 08 Jan – Mar, 2021 From 19.04.2021 To 03.05.2021 From 04.05.2021 To 18.05.2021 From 19.05.2021 Till Filing of CMP-08

Waiver of late fees for delay in filing GSTR 3B for taxpayers

Notification No. 09/2021 – Central Tax

Aggregate Turnover Tax Period No Late Fees Applicable Late Fees
More Than INR 5 Crores March, 2021 Till 05.05.2021 From 06.05.2021 Till Filing Of Return
April, 2021 Till 04.06.2021 From 05.06.2021 Till Filing Of Return
Up To INR 5 Crores (Who Opted Monthly Filing of Returns) March, 2021 Till 20.05.2021 From 21.05.2021 Till Filing Of Return
April, 2021 Till 04.06.2021 From 05.06.2021 Till Filing Of Return
Up To INR 5 Crores (QRMP) Madhya Pradesh, Gujarat, Maharashtra, Kerala, etc. Jan – Mar, 2021 Till 22.05.2021 From 23.05.2021 Till Filing Of Return
Up To INR 5 Crores (QRMP) Punjab, Haryana, Delhi, Rajasthan, U.P, Assam etc. Jan – Mar, 2021 Till 24.05.2021 From 25.05.2021 Till Filing Of Return

Extended Due Dates for compliance under Income Tax Act

Circular No. 09/2021

Sr. No Nature of Extension Original due date New Due Dates
1 Statement of Financial Transactions u/s 285BA [FY 2020- 21] 31.05.2021 30.06.2021
2 Statement of Reportable Account under Rule 114G [CY-2020] 31.05.2021 30.06.2021
3 Statement of TDS for the quarter ending 31st March 2021 31.05.2021 30.06.2021
4 Issue of TDS certificates in Form 16 for the Financial Year 2020- 21 15.06.2021 15.07.2021
5 TDS/TCS Book adjustment statement in Form 24G for the month of May 2021 15.06.2021 30.06.2021
6 Statement of Deduction of Tax in the case of superannuation fund for FY 2021 31.05.2021 30.06.2021
7 Statement of Income paid or credited by an investment fund to its unit’s holder in Form 64D for FY 20-2021 15.06.2021 30.06.2021
8 Statement of Income paid or credited by an investment fund to its unit’s holder in Form 64C for FY 20-2021 30.06.2021 15.07.2021
9 Income Tax Returns – Normal assessee without audits – FY 20-2021 31.07.2021 30.09.2021
10 Filing of Audit Reports viz. Tax Audit Reports. – FY 20-2021 30.09.2021 31.10.2021
11 Due date of Furnishing Report from Accountant in respect of International Transactions covered u/s 92E 31.10.2021 30.11.2021
12 Income Tax Returns – Corporate assessee or Firm covered whose accounts required to be audited or Partner of Firm whose accounts are required to be audited or any assessee other than Corporate and Firm whose accounts are required to be audited [FY 20-21] 31.10.2021 30.11.2021
13 Income Tax Returns – Assessee required to furnish return u/s 92E in respect of International Transactions [FY 20-21] 30.11.2021 31.12.2021
14 Belated Returns and Revised Returns [FY 20-21] 31.12.2021 31.01.2022

Extended Due Dates for compliance under Companies Act

Due Date Forms to be filed Compliance Applicability Period
Original Date 31-05-2021 [Extended to 31.07.2021] PAS-06 Unlisted Public Companies Reconciliation of Share Capital [Oct-20 to Mar-21]
Original Date 30-05-2021 [Extended to 31.07.2021] LLP Form-11 LLP FY 2020-21
Original Date 30-04-2021 [Extended to 31.07.2021] MSME-1 Companies that get supplies from MSME Sector Oct-20 – Mar-21
Original Date 30-05-2021 [Extended to 31.07.2021] FC-04 Annual Return of Foriegn Company FY 2020-21

Time gap of Conducting Board Meetings

The time gap of Conducting Board Meetings has been extended from 120 Days to 180 Days during Quarter April 2021 to June 2021 to Quarter July 2021 to Sep 2021

Relaxation in Additional Fees

Additional time upto 31st July 2021 has been given to companies/LLPs to file MCA forms (other than a CHG-1 Form, CHG-4 Form, and CHG-9 Form) without any additional fees. Accordingly, no additional fees shall be levied upto 31st July 2021 for the delayed filing of forms (other than charge-related forms referred to above) which were/would be due for filing from 1st April 2021 to 31st May 2021. For such delayed filings upto 31st July 2021 only normal fees shall be payable.

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