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Revised Compliance Due Dates and implications

Jun 09, 2020

compliance-management

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 compliancesFor the period/ FY/MonthsRevised Due Date/ Other implicationsOriginal Due Date/ Other implications
Income Tax ReturnFY 2018-19 (AY 2019-20)30th June 202031st March 2020
Income Tax Return – for Non-Auditable AssesseeFY 2019-20 (AY 2020-21)30th November 202031st July 2020
Income Tax Return – for Auditable AssesseeFY 2019-20 (AY 2020-21)30th November 202031st October 2020
Tax & Statutory AuditFY 2019-20 (AY 2020-21)31st October 202030th September 2020
TDS & TCS Return of Qtr. IVFY 2019-20 (AY 2020-21)30th June 202031st May 2020
Due date for deposit of TDS/TCSFor the month of May 20207th June 20207th June 2020
Online submission of form 15G/15HFY 2020-2130th June 202030th April 2020
Linking PAN with AadharN.A.30th June 202031st Mar 2020
Issuance of Form 16/16A for the Qtr. IVFY 2019-20 (AY 2020-21)30th June 202015th June 2020
Making investments & payments for claiming deduction under Section 80C/80D/80GFY 2019-20 (AY 2020-21)30th June 202031st 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 202020th March 2020 to 30th June 2020 will be charges at reduced interest rate i.e., 9% p.a instead of 12% or 18% p.aInterest rate i.e., 12% or 18% p.a
GSTR - 3B Turnover in preceding FY < 1.5 croreFebruary 2020, March 2020, April 2020, May 202030th June 2020, 3rd July 2020, 6th July 2020, 14th July 202020th March 2020, 20th April 2020, 20th May 2020, 20th June 2020
GSTR - 3B Turnover in preceding FY 1.5 crore to 5 croreFebruary 2020, March 2020, April 2020, May 202029th June 2020, 29th June 2020, 30th June 2020, 14th July 202020th March 2020, 20th April 2020, 20th May 2020, 20th June 2020
GSTR - 3B Turnover in preceding FY > 5 croreFebruary 2020, March 2020, April 2020, May 202024th June 2020, 24th June 2020, 24th June 2020, 27th June 202020th March 2020, 20th April 2020, 20th May 2020, 20th June 2020
GSTR – 1 Quarterly Turnover in preceding FY < 1.5 croreJanuary - March 2020, April - June 202030th June 2020, 31st July 202030th April 2020, 31st July 2020
GSTR - 1Monthly Turnover in preceding FY > 1.5 croreMarch 2020, April 2020, May 202030th June 2020, 30th June 2020, 30th June 202011th April 2020, 11th May 2020, 11th June 2020
GSTR 9/9C Annual returnFY 2018-1930th September 202031st Mar. 2020
GST ITC?04 Return –Quarterly (for March 2020)FY 2019-2030th June 202025th April 2020
Online filing LUT (GST RFD 11) for Exports & Supplies to SEZ without payment of taxFY 2020-2130th June 202031st March 2020
ROC Compliance – Additional FeesFor the period 1st April 2020 to 30th September 2020No 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 dateMCA 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 202020th September 2020FORM GSTR-3B – 20th day of March, April, May, June, July, August and September 2020.
Submission of Annual Results to SEBI by Listed EntitiesFY 2019-2030th June 202030th May 2020
Vivad se Vishwas Scheme (Not liable to pay additional 10%. No interest and penalty will be applicable)FY 2019-2031st December 202031st March 2020
Form 61 (statement of Form 60 received), 61A (statement of financial transactions), or 61B (statement of reportable accounts)FY 2019-2030th June 202031st May 2020
Companies (Auditor’s Report) Order, 2020 [CARO-New]FY 2019-201st 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 2020-2112 months after incorporation6 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.