Helpinghands Compliances for TAX & GST for July 2021

 Compliance requirement under Income Tax act, 1961

Sl.	Compliance Particulars	Due Dates
1	Due date of depositing TDS/TCS liabilities for previous month.	07-07-2021
2	Due date of depositing TDS/TCS liabilities for the period April to June for quarterly deposit of TDS under section 192, 194A, 194D or 194H	07-07-2021
3	TDS certificate to employees in respect of salary paid (extended date vide Circular no. 9/2021, dated 20-05-2021)	15-07-2021
4	Extended Due date of filing of TDS return for TDS deducted during Q4 of FY 2020-21. The due date for furnishing of quarterly statement of TDS has been extended from May 31, 2021 to June 30, 2021 (vide Circular no. 9/2021, dated 20-05-2021), now it is again changed to July 15, 2021	15-07-2021
5	Due date for issue of TDS Certificate for tax deducted under section 194-IA, 194-IB and 194M in the month of April, 2021	15-07-2021
6	Quarterly statement in respect of foreign remittances (to be furnished by authorized dealers) in Form No. 15CC for quarter ending June, 2021	15-07-2021
7	Quarterly statement of TCS deposited for the 1st Quarter	15-07-2021
8	Due date for issuance of TCS Certificate for Q1 of FY 2020-21	30-07-2021
9	Due date for furnishing of challan-cum-statement in respect of tax deducted under section 194-IA, 194-IB, 194M for the month of June, 2021	30-07-2021
10	Quarterly statement of TDS deposited	30-07-2021
11	Certificate of TDS in respect of tax deducted for payments other than salary (Further extentioin of due date from July 15, 2021 to July 31, 2021)	30-07-2021

 

q Importatnt updates – June, 2021:

 

1. Key Highlights – Due Returns

·      The deadline for receiving Form 16 has been extended to July 31, 2021.

·      The deadline for linking PAN with Aadhaar has been extended to September 30, 2021.

·      The ITR filing deadline for FY 2020-21 has been extended to September 30, 2021 from usual deadline of July 31, 2021.

 

2. National Faceless Assessment Centre, Delhi, directed to designate the web portal www.incometax.gov.in as the "designatedportal"for the purpose of Faceless Assessment in terms of Explanation (i) to section144B(I)of the Income-tax Act.

 

·      To read more: Click Here

3. "Compliance Check for Section 206AB &; 206CCA".

The Central Board of Direct Taxes ('CBDT'), in exercise of powers conferred under section 138 (1) (a) (i) of Income-tax Act, 1961, hereby directs that Director General of Income-tax (Systems), New Delhi shall be the specified income-tax authority for furnishing information to the 'Tax Deductor / Tax Collector', having registered in the reporting portal of the Project Insight through valid TAN, to identify the 'Specified Persons' for the purposes of section 206AB and 206CCA of the Act through the functionality "Compliance Check for Section 206AB &; 206CCA".

·      To read more: Click Here

 

q Important Notifications – For the month of June - 2021:

 

Sl.	Particulars of the Notification(s)	File No. / Circular No.	Link(s)
1.	Guidelines under section 1940 of the Income-tax Act, 1961 - reg.	Notification No. 40/2021][F.No. 370142/8/2021-TPL	LINK
2.	The Central Government specifies the Nodal officers	F. No. 225/53/2020-ITA.II/Notification No.69 /2021	LINK
3.	TheCentral Government hereby approves M/s Indian Institute of Technology, Bhilai (PAN: AABAI0415K) under thecategory of ‘University, College or other institution’	Notification No. 70 /2021) F.No.203/ 06/ 2020/ ITA-II	LINK
4.	TheIncome-tax (17th Amendment) Rules, 2021	Notification No. 71/2021/F. No. 370142/19/2021-TPL	LINK
5.	Amendments in thenotification of the Government of India, published in the Gazette of India, Extraordinary, vide number S.O. 1790(E), dt. 05.06.2017	Notification No. 73/ 2021	LINK
6.	Compliance Check Functionality for Section 206AB & 206CCA of Income-tax Act 1961	Circular No. 11 of 2021	LINK
7	Extension of time limits of certain compliances to provide relief to taxpayers in view of the severe pandemic.	Circular No. 12/2021	LINK
8	Partial modification - Taxationand Other Laws (Relaxation and Amendment of Certain Provisions) Act, 2020	Notification No. 74/2021/ F. No. 370142/35/2020-TPL	LINK
9	Amendments - Direct Tax Vivad seVishwas Act, 2020	Notification No. 75/2021	LINK

 

 

 

2. Compliance Requirement underGST, 2017

 

Filing of GSTR –3B

 

A. Taxpayers having aggregate turnover >Rs. 5 Cr. in preceding FY

 

Tax period	Due Date	No interest payable till	Particulars
June, 2021	20thJuly, 2021	-	Due Date for filling GSTR - 3B return for the month of June, 2021 for the taxpayer with Aggregate turnover exceeding INR 5 crores during previous year

 

B. Taxpayers having aggregate turnover uptoRs. 5 crores in preceding FY (Group A)

 

Tax period	Due Date	No interest payable till	Particulars
June, 2021	22nd July, 2021		Due Date for filling GSTR - 3B return for the month of June, 2021 for the taxpayer with Aggregate turnover upto INR 5 crores during previous year and who has opted for Quarterly filing of GSTR-3B
Group A States: Chhattisgarh, Madhya Pradesh, Gujarat, Maharashtra, Karnataka, Goa, Kerala, Tamil Nadu, Telangana, Andhra Pradesh, Daman & Diu and Dadra & Nagar Haveli, Puducherry, Andaman and Nicobar Islands, Lakshadweep

 

 

C. Taxpayers having aggregate turnover uptoRs. 5 crores in preceding FY (Group B)

 

Tax period	Due Date	No interest payable till	Particulars
June, 2021	24thJuly, 2021
Group B States:Himachal Pradesh, Punjab, Uttarakhand, Haryana, Rajasthan, Uttar Pradesh, Bihar, Sikkim, Arunachal Pradesh, Nagaland, Manipur, Mizoram, Tripura, Meghalaya, Assam, West Bengal, Jharkhand, Odisha, Jammu and Kashmir, Ladakh, Chandigarh, Delhi

 

D. Filing Form GSTR-1:

 

Tax period	Due Date	Remarks
Monthly return (June, 2021)	11.07.2021	1. GST Filing of returns by registered person with aggregate turnover exceeding INR 5 Crores. 2. Registered person, with aggregate turnover of less then INR 5 Crores, opted for monthly filing of return under QRMP

 

 

E. Non Resident Tax Payers, ISD, TDS & TCS Taxpayers

 

Form No.	Compliance Particulars	Timeline	Due Date
GSTR-5 & 5A	Non-resident ODIAR services provider file Monthly GST Return	20th of succeeding month	20.07.2021
GSTR -6	Every Input Service Distributor (ISD)	13th of succeeding month	13.07.2021
GSTR -7	Return for Tax Deducted at source to be filed by Tax Deductor	10th of succeeding month	10.07.2021
GSTR -8	E-Commerce operator registered under GST liable to TCS	10th of succeeding month	10.07.2021

 

F. Non Resident Tax Payers, ISD, TDS & TCS Taxpayers

 

Form No.	Compliance Particulars	Timeline	Due Date
Details of outward supply-IFF	Invoice furnishing facility is available for registered person with turnover less than INR 5 Crores and opted for quarterly filing of return.	13th of succeeding month	13.07.2021

 

G. GST Refund:

 

Form No.	Compliance Particulars	Due Date
RFD -10	Refund of Tax to Certain Persons	18 Months after the end of quarter for which refund is to be claimed

 

 

 

 

 

 

 

q Other Returns:

 

Form No.	Compliance Particulars	Timeline	Due Date
GST CMP-08	Due date of filing of GST CMP-08 for dealers opted for composition scheme. Quarterly - April to June 2021	Date was extended from 15.07.2021	18.07.2021
GSTR-4	Annual return for dealers opted for Composition Scheme	For 2020-21	31.07.2021
GST return for pending Period-Amnesty Scheme	Filing of Pending GST return with reduced penalty under Amnesty Scheme	July, 2017 to April, 2021	From 01.6.2021 to 31.08.2021

 

 

    Key UPDATE(s):

 

1. GSTN enables functionality to lodge complaint of PAN misuse for GST registration

“To check the misuses of PAN in GST Registration, a functionality has been provided at GST Portal to register the complaint. GSTN, which handles the technology backbone of the Goods and Services Tax, has enabled an utility to lodge complaints relating to misuse of PAN for obtaining GST registration, a move aimed at curbing creation of bogus entities for the purpose of tax evasion. Any person whose PAN has been misused can lodge such a complaint. Following that, it would be sent to the concerned tax officer under whose jurisdiction the registration has taken place fraudulently for further action.

q  To read more: Click Here

2. Petrol, diesel under GST: HC asks Centre to decide

The Kerala high court has asked the central government to decide on a representation seeking to bring petroleum products under goods and services tax (GST) regime.

A division bench comprising chief justice S Manikumar and justice Shaji P Chaly asked the government to take a decision on the representation raising the demand within six weeks after considering a petition (WP-C No. 12481/2021) filed by Kerala Pradesh Gandhi Darshanvedi through advocate Arun B Varghese. It was alleged by the petitioner that petrol and diesel rates differ in various states as the tax levied by each state is different.

q KEy GST UPDATES from 01.06.2021 to 30.06.2021:

 

Sl.	Notification Particulars	Notification No.	Link(s)
1.	Extension of the due date of filing Application for Revocation of Cancellation of Registration	GSTN Circular 474	Click Here
2.	Extension in dates of various GST Compliances for GST Taxpayers	GSTN Circular 475	Click Here
3.	Waiver of interest and late fee for normal taxpayers (filing return on monthly or quarterly basis) and composition taxpayers (Part1)	GSTN Circular 478	Click Here
4.	Waiver of interest and late fee for normal taxpayers (filing return on monthly or quarterly basis) and composition taxpayers (Part2)	GSTN Circular 477	Click Here
5.	Upcoming functionalities to be deployed on GST Portal for the Taxpayers	GSTN Circular 481	Click Here
6	Webinars on recent functionalities related to Refunds deployed on GST Portal.	GSTN Circular 483	Click Here
7	Module wise new functionalities deployed on the GST Portal for taxpayers	GSTN Circular 482	Click Here
8	Seeks to appoint 01.06.2021 as the day from which the provisions of section 112 of Finance Act, 2021, relating to amendment of section 50 of the CGST Act, 2017 shall come into force.	16/2021-Central Tax dated 01.06.2021	LINK
9	Seeks to extend the due date for FORM GSTR-1 for May, 2021 by 15 days.	17/2021-Central Tax dated 01.06.2021	LINK
10	Seeks to provide relief by lowering of interest rate for a specified time for tax periods March, 2021to May, 2021.	18/2021-Central Tax dated 01.06.2021	LINK
11	Seeks to rationalize late fee for delay in filing of return in FORM GSTR-3B ; and to provide conditional waiver of late fee for delay in filing FORM GSTR-3B from July, 2017 to April, 2021; and to provide waiver of late fees for late filing of return in FORM GSTR-3B for specified taxpayers and specified tax periods.	19/2021-Central Tax dated 01.06.2021	LINK
12	Seeks to rationalize late fee for delay in furnishing of the statement of outward supplies in FORM GSTR-1.	20/2021-Central Tax dated 01.06.2021	LINK
13	Seeks to rationalize late fee for delay in filing of return in FORM GSTR-4.	21/2021-Central Tax dated 01.06.2021	LINK
14	Seeks to rationalize late fee for delay in filing of return in FORM GSTR-7.	22/2021-Central Tax dated 01.06.2021	LINK
15	Seeks to amend Notification no. 13/2020-Central Tax to exclude government departments and local authorities from the requirement of issuance of e-invoice.	23/2021-Central Tax dated 01.06.2021	LINK
16	Seeks to amend notification no. 14/2021-Central Tax in order to extend due date of compliances which fall during the period from "15.04.2021 to 29.06.2021" till 30.06.2021.	24/2021-Central Tax dated 01.06.2021	LINK
17	Seeks to extend the due date for filing FORM GSTR-4 for financial year 2020-21 to 31.07.2021.	25/2021-Central Tax dated 01.06.2021	LINK
18	Seeks to extend the due date for furnishing of FORM ITC-04 for QE March, 2021 to 30.06.2021.	26/2021-Central Tax dated 01.06.2021	LINK
19	Seeks to make amendments (Fifth Amendment, 2021) to the CGST Rules, 2017.	27/2021-Central Tax dated 01.06.2021	LINK
20	Seeks to amend notification No. 1/2017-Central Tax (Rate) to prescribe change in CGST rate of goods.	01/2021-Central Tax (Rate) ,dt. 02-06-2021	LINK
21	Seeks to amend notification No. 11/2017- Central Tax (Rate) so as to notify CGST rates of various services as recommended by GST Council in its 43rd meeting held on 28.05.2021.	02/2021-Central Tax (Rate) ,dt. 02-06-2021	LINK
22	Seeks to amend notification No. 06/2019- Central Tax (Rate) so as to give effect to the recommendations made by GST Council in its 43rd meeting held on 28.05.2021.	03/2021-Central Tax (Rate) ,dt. 02-06-2021	LINK
23	Seeks to amend notification No. 11/2017- Central Tax (Rate) so as to notify GST rates of various services as recommended by GST Council in its 44th meeting held on 12.06.2021.	04/2021-Central Tax (Rate) ,dt. 14-06-2021	LINK
24	Seeks to provide the concessional rate of CGST on Covid-19 relief supplies, up to and inclusive of 30th September 2021	05/2021-Central Tax (Rate) ,dt. 14-06-2021	LINK
25	Clarification regarding applicability of GST on supply of food in Anganwadis and Schools.	149/05/2021-GST	LINK
26	Clarification in respect of applicability of Dynamic Quick Response (QR) Code on B2C invoices and compliance of notification 14/2020- Central Tax dated 21st March, 2020	156/12/2021-GST	Click Here
27	Webinars on New Functionalities related to Registration and Returns deployed on GST Portal	GSTN Circular 484	Click Here

Disclaimer: The Article is based on the Relevant Provisions and as per the information existing at the time of the preparation. In no event I shall be liable for any direct and indirect result from this Article. This is only a knowledge sharing initiative.

The Author – CS Deepak Seth (Associate Partner at Helpinghands Professionals LLP) and can be reached at contacthhpro@gmail.com or 9910248911.