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Revised Compliance Due Dates and implications

compliance-management
blog dateJun 09, 2020 | 5 min read | views 1448

Compliances are critical part of the Indian Businesses. In India Compliances are complex, vast and never ending. From monthly to quarterly to annual, there are countless number of compliances a business entity has to take care in India.

As the Covid-19 has hit the entire business world, government has given relaxations in various due dates.

For the benefit of business world, we have summarized key due dates and their revised due dates.

VARIOUS COMPLIANCES DUE DATES & OTHER IMPLICATIONS AFTER COVID-19 PANDEMIC

Name of compliances For the period/ FY/Months Revised Due Date/ Other implications Original Due Date/ Other implications
Income Tax Return FY 2018-19 (AY 2019-20) 30th June 2020 31st March 2020
Income Tax Return – for Non-Auditable Assessee FY 2019-20 (AY 2020-21) 30th November 2020 31st July 2020
Income Tax Return – for Auditable Assessee FY 2019-20 (AY 2020-21) 30th November 2020 31st October 2020
Tax & Statutory Audit FY 2019-20 (AY 2020-21) 31st October 2020 30th September 2020
TDS & TCS Return of Qtr. IV FY 2019-20 (AY 2020-21) 30th June 2020 31st May 2020
Due date for deposit of TDS/TCS For the month of May 2020 7th June 2020 7th June 2020
Online submission of form 15G/15H FY 2020-21 30th June 2020 30th April 2020
Linking PAN with Aadhar N.A. 30th June 2020 31st Mar 2020
Issuance of Form 16/16A for the Qtr. IV FY 2019-20 (AY 2020-21) 30th June 2020 15th June 2020
Making investments & payments for claiming deduction under Section 80C/80D/80G FY 2019-20 (AY 2020-21) 30th June 2020 31st Mar 2020
Interest liability on payment) (All delayed payments of advance tax, self-assessment tax, TDS, TCS, equalization levy, STT, CTT) Due between 20th March 2020 to 30th June 2020 20th March 2020 to 30th June 2020 will be charges at reduced interest rate i.e., 9% p.a instead of 12% or 18% p.a Interest rate i.e., 12% or 18% p.a
GSTR - 3B Turnover in preceding FY < 1.5 crore February 2020, March 2020, April 2020, May 2020 30th June 2020, 3rd July 2020, 6th July 2020, 14th July 2020 20th March 2020, 20th April 2020, 20th May 2020, 20th June 2020
GSTR - 3B Turnover in preceding FY 1.5 crore to 5 crore February 2020, March 2020, April 2020, May 2020 29th June 2020, 29th June 2020, 30th June 2020, 14th July 2020 20th March 2020, 20th April 2020, 20th May 2020, 20th June 2020
GSTR - 3B Turnover in preceding FY > 5 crore February 2020, March 2020, April 2020, May 2020 24th June 2020, 24th June 2020, 24th June 2020, 27th June 2020 20th March 2020, 20th April 2020, 20th May 2020, 20th June 2020
GSTR – 1 Quarterly Turnover in preceding FY < 1.5 crore January - March 2020, April - June 2020 30th June 2020, 31st July 2020 30th April 2020, 31st July 2020
GSTR - 1Monthly Turnover in preceding FY > 1.5 crore March 2020, April 2020, May 2020 30th June 2020, 30th June 2020, 30th June 2020 11th April 2020, 11th May 2020, 11th June 2020
GSTR 9/9C Annual return FY 2018-19 30th September 2020 31st Mar. 2020
GST ITC?04 Return –Quarterly (for March 2020) FY 2019-20 30th June 2020 25th April 2020
Online filing LUT (GST RFD 11) for Exports & Supplies to SEZ without payment of tax FY 2020-21 30th June 2020 31st March 2020
ROC Compliance – Additional Fees For the period 1st April 2020 to 30th September 2020 No additional fee shall be charged for late filing during a moratorium period (01.04.2020 to 30.09.2020) in respect of any document, return, statement etc required to be filed in MCA system irrespective of its due date MCA Due dates
Input GST credit - restriction rule of 10% with reference to GSTR2A Note: The said condition shall apply in FORM GSTR-3B for the tax period of September, 2020 and shall be furnished with cumulative adjustment of input tax credit for the said months in accordance with the 10% condition) For the months of February, March, April, May, June, July and August 2020 20th September 2020 FORM GSTR-3B – 20th day of March, April, May, June, July, August and September 2020.
Submission of Annual Results to SEBI by Listed Entities FY 2019-20 30th June 2020 30th May 2020
Vivad se Vishwas Scheme (Not liable to pay additional 10%. No interest and penalty will be applicable) FY 2019-20 31st December 2020 31st March 2020
Form 61 (statement of Form 60 received), 61A (statement of financial transactions), or 61B (statement of reportable accounts) FY 2019-20 30th June 2020 31st May 2020
Companies (Auditor’s Report) Order, 2020 [CARO-New] FY 2019-20 1st April 2021 (extended applicable date) 1st April 2020 (applicable date)
Newly incorporated companies to file a declaration for commencement of business (Form INC-20A) FY 2020-21 12 months after incorporation 6 months after incorporation

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Deepak Kumar Daga

Professional & Qualified Chartered Accountant with more than 9+ years Experience.
Expert in the field of Direct Tax & Indirect taxes Consultancy, Bank Audits, Statutory Audit, Tax Audit, Accounting, GST, Income Tax, Concurrent Audit, Valuation of Securities and Financial Assets.