Compliances for Composition taxpayers: Budget 2021: Amendments proposed in Section 74, 107, 151, 152 & 168 of CGST Act, 2017, Proposed prosecution amendments under GST vide Budget 2021, Extended power under Section 83 of CGST Act, 2017 by Finance Bill, 2021, Amount received for security services including amount of wages for guards taxable @18%, Fino Payments Bank Limited included in Second Schedule of RBI Act, 1934, SOP for Vehicle Location Tracking, registration & activation in VAHAN, Physical hearing by NCLT Benches w.e.f. The Government has also decided that the due date for issue of notice, notification, approval order, sanction order, filing of appeal, furnishing of return, statements, applications, reports, any other documents, time limit for any compliance under the GST laws where the time limit is expiring between 20th March 2020 to 29th June 2020 will be extended to 30th June 2020. Budget 2021: A new condition introduced to avail Input Tax Credit, Quarterly taxpayers January to March 2020, 27th June, 2020 (extended date for filing), 12th July, 2020 (extended date for filing), 14th July, 2020 (extended date for filing), Tax Collectors at Source (TCS collectors). Please extend all the returns filing dates for another 1 month, it has become difficult for everyone to file in time. New Delhi: The government has extended the last date for filing annual GST return for the financial year 2018-19 by three months till September 2020. 1. such as when you have outstanding GST returns which are not submitted, or when your GST return is being reviewed by our auditor. Maintained by V2Technosys.com. Does it mean that gst tax due on 20 th april 2020 for march 2020 period can also be deposited on 30 th june without any penality , interest etc for tax payers with less than 5 crore turnover, Your email address will not be published. You must file a 'Nil' GST return even if there is no business activity during the accounting period. As one month after the end of your accounting period is a reasonable deadline, no extensions will be granted. Alternatively, the due date for filing GSTR-9, 9A and GSTR-9C for the year 2017-18 should be extended by at least four months till October 31, 2019," he urged, adding the problems should be resolved with clear instructions in line with the prescribed law. Read latest news and live updates on Gst-filing-date-extension including breaking news on Gst-filing-date-extension,Gst-filing-date-extension photos,Gst-filing-date-extension … The deadline for filing GST returns for the month March, April and May has been extended to June 30. You may refer to your All Rights Reserved. What about ITC04?? What they are doing with these purchases- unless using them in their business for sales. From Jun 2020 Govt. Readers are requested to check and refer relevant provisions of statute, latest judicial pronouncements, circulars, clarifications etc before acting on the basis of the above write up. You want the Govt to come to their rescue? However, for the months they had a tax liability, their late fee would be capped at Rs 500 per return. Extension of due dates for GST Annual Return and Reconciliation Statement for FY 2018-19. hospitalization leave. So, considering their difficulties, the GST Council has extended the date by two more months. Here in this post, we are providing you the updated GST due dates for 2020 as well as its notification.These all are as per the GST Due Date Extension Notification issued by the government. Note 2: For the taxpayers having an aggregate turnover of more than Rs 5 Cr. You cannot get an extension of time to file a GST return so you must file it on time. Late Fee Relief to Normal Taxpayers filing Form GSTR-1: Relief in payment of interest to Taxpayers filing Form GSTR-3B. Is there any amendment for this ? Extension of time limit: The Hon'ble Supreme Court has used the term 'shall stand extended' which means that in cases where the limitation period for filing an appeal expires on or after 15th March 2020, then in such cases, the due date for filing an appeal shall stand extended till further order/s of the Hon'ble Supreme Court. Not raising the invoices, not paying the taxes to the govt. The GST would not be applicable on the electricity charges collected on actual basis without adding any markup & the conditions of Rule 33 of CGST rules fulfilled (pure Agency conditions) However GST would be applicable if the changes collected along with markup or on ad-hoc basis. By the use of the said information, you agree that Author / TaxGuru is not responsible or liable in any manner for the authenticity, accuracy, completeness, errors or any kind of omissions in this piece of information for any action taken thereof. Taxpayers having aggregate turnover > Rs. Does My New Company Need to File Form C-S/ C this Year? Earlier, GST taxpayers were to file required returns by August 31. This does not apply under As govt Extended due date of GST Return. Due to CORONO all business are suffering from short of payments. They do not have financial capacity to buy on credit such large volume of purchases. Late Fee Relief to Normal Taxpayers filing Form GSTR-3B: Relief in late fee to Taxpayers filing Form GSTR-1. Note 3: Taxpayers who are yet to file Form any month(s) from July, 2017 till Jan., 2020, can now file Form GSTR-3B from 1st July, 2020 till 30th Sept., 2020, without any late fee, for those months in which they did not have any tax liability. Sir, can any one clearify whatabout of reversal of itc on non payment to supplier within 180 days.foolish rule. 01.03.2021, Formats Resolutions related to Banking Operations, Interesting facts about education loans that you may not know, Submit Letter of Undertaking (LUT) for FY 2021-22 by 31.03.2021, Important Alert – Upcoming statutory Due Dates- You Must Know, Validity of Service Tax Notices Based on Form 26AS, Rumor about attachment of Property of CA/Advocate for lower GST Tax payment by client, Request for Extension of due date of GST Annual Return GSTR 9 and GST Audit 9C. & 55/2020 dated 27.06.2020 the COVID-19 disruption a professional ( Group B ),! Had Tax liability, their late fee would be capped at Rs 500 per.! Corono all business are suffering from short of payments Statement for FY 2019-20 only few... 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