Compliance Requirement under GST, 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 |
|
July, 2021 |
20thAugust, 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
upto Rs. 5 crores in preceding FY (Group A)
|
Tax period |
Due Date |
No interest payable till |
Particulars |
|
July 2021 |
22ndAugust, 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
upto Rs. 5 crores in preceding FY (Group B)
|
Tax period |
Due Date |
No interest payable till |
Particulars |
|
July, 2021 |
24thAugust, 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 (July, 2021) |
11.08.2021 |
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 |
20.08.2021 |
|
GSTR -6 |
Every Input Service
Distributor (ISD) |
13th of succeeding month |
13.08.2021 |
|
GSTR -7 |
Return for Tax Deducted
at source to be filed by Tax Deductor |
10th of succeeding month |
10.08.2021 |
|
GSTR -8 |
E-Commerce operator registered under GST liable to TCS |
10th of succeeding month |
10.08.2021 |
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 |
13.08.2021 |
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 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 |
Major Update: The taxpayers, who
have registered at GST portal but have not yet furnished their Bank Account
details, are required to update it at GST Portal through non-core amendment,
within 45 days of first login henceforth.
q GST UPDATES from 01.07.2021 to 31.07.2021:
|
Sl. |
Notification Particulars |
Notification No. |
Link(s) |
|
1. |
Functionality to register complaint
on misuse of PAN in GST Registration |
GSTN Circular 485 |
|
|
2. |
Important changes related to QRMP Scheme implemented on the GST Portal
for the taxpayers |
GSTN
Circular 486 |
|
|
3. |
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 |
|
|
4. |
Module wise new functionalities deployed on the GST Portal for
taxpayers |
GSTN
Circular 487 |
|
|
5. |
Upcoming functionalities to be
deployed on GST Portal for the Taxpayers in the month of July, 2021 |
GSTN Circular 488 |
|
|
6 |
Webinars on recent functionalities related to Registration, Returns,
Ledgers and Refunds deployed on GST Portal. |
GSTN
Circular 490 |
|
|
7 |
Filing of Annual returns by composition
taxpayers. - Negative Liability in GSTR-4 |
GSTN Circular 491 |
|
|
8 |
New functionality on Annual Aggregate Turnover (AATO) deployed on GST
Portal for taxpayers. |
GSTN
Circular 492 |
|
|
9 |
Functionality to check and update
bank account details. |
GSTN Circular 493 |
|
|
10 |
Seeks to exempt taxpayers having
AATO upto Rs. 2 crores from the requirement of furnishing annual return for
FY 2020-21. |
31/2021-Central Tax
dated 30.07.2021 |
|
Compliance requirement under Income Tax
Act, 1961
|
Sl. |
Compliance
Particulars |
Due
Dates |
|
1 |
Due date of depositing
TDS/TCS liabilities for previous month. |
07.08.2021 |
|
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 |
07.08.2021 |
|
3 |
Due date for issue of TDS
Certificate for tax deducted under section 194-IA, 194-IB and 194M in the month
of April, 2021 |
14.08.2021 |
|
4 |
Quarterly TDS certificate (in respect of tax deducted for payments
other than salary) for the quarter ending June 30, 2021 |
15.08.2021 |
|
5 |
Due date of furnishing of Form 24G by an office of the Government where
TDS/TCS for the month of July, 2021 has been paid without the production of a
challan |
15.08.2021 |
|
6 |
Due date for furnishing of challan-cum-statement in respect of tax
deducted under section 194-IA, 194-IB, 194M for the month of July, 2021 |
30.08.2021 |
r Income Tax Due Date -
Extensions
|
Sl. |
Nature of
Extension |
Provisions
of IT Act 1961 |
Original
Due Date |
Extended
Due Date |
|
1 |
Objections to Dispute Resolution Panel (DRP) and Assessing Officer
under section 144C of the Income-tax Act, 1961 |
Section 144C |
01.06.2021 |
31.08.2021 |
|
2 |
The application in Form No.10A/ Form No.10AB, for
registration/ provisional registration/ intimation/ approval/
provisionalapproval of Trusts/ Institutions/ Research Associations etc., |
UnderSection 10(23C), 12AB, 35(1)(ii)/(iia)/(iii)
and 80G of the Act |
30.06.2021 |
on or before 31.08.2021 |
|
3 |
The compliances to be made by the taxpayers such
as investment, deposit, payment, acquisition, purchase, construction or such
other action, by whatever name called, for the purpose of claiming any exemption
under the provisions contained in
Section 54 to 54GB
of the Act |
Section 54 to 54GB of the Act |
Between 01.04.2021 to 29.09.2021 |
30.09.2021 |
|
4 |
Uploading of the declarations received from
recipients in Form No. 15G/15H during the quarterending 30th June, 2021 |
Form No. 15G/15H |
15.07.2021 |
31.08.2021 |
|
5 |
Last date of linkage of Aadhaar with PAN |
Section 139AA of the Act |
30.06.2021 |
30.09.2021 |
|
6 |
Last date of payment of amount under Vivad se
Vishwas(without additional amount) |
|
30.06.2021 |
31.08.2021 |
|
7 |
Last date of payment of amount under Vivad se
Vishwas (with additional amount) |
|
|
31.08.2021 |
|
8 |
Time Limit for passing assessment order |
|
30.06.2021 |
30.09.2021 |
|
9 |
Time Limit for passing penalty order |
|
30.06.2021 |
30.09.2021 |
|
10 |
Time Limit for processing Equalisation Levy
returns |
|
30.06.2021 |
30.09.2021 |
q Important Notifications – For the month of July - 2021:
|
Sl. |
Particulars of the
Notification(s) |
File No. / Circular No. |
Link(s) |
|
1. |
Guidelines under
section 194Q of the Income-tax Act, 1961 - reg. |
Circular No. 13
of 2021 |
|
|
2. |
Guidelines under section 9B and
sub-section (4) of section 45 of the Income-tax Act, 1961. |
Circular No. 14
of 2021 |
|
|
3. |
TheIncome tax Amendment (18th Amendment),
Rules,2021 |
[Notification
No. 76/2021 |
|
|
4. |
TheIncome tax Amendment (19th
Amendment), Rules, 2021 |
Notification No. 77/2021 |
|
|
5. |
Central
Government hereby notifies for the purposes of the said clause, ‘Haryana
Building and Other Construction
Workers Welfare Board’ |
Notification No.
78 /2021 |
|
|
6. |
Foundation Trust, Haridwar under the
category “Research Association” for Scientific Research |
Notification No. 79/2021 |
|
|
7 |
TheIncome-tax (20th Amendment) Rules,2021 |
Notification No. 82 /2021 |
|
|
8 |
TheIncome-tax (21st Amendment) Rules, 2021 |
Notification
No. 83 /2021 |
|
|
9 |
Calling for region preference of
candidates nominated to the post of Tax Assistant in CBDT through Combined
Graduate Level Examination - 2018. |
F. No.
HRD/CM/127/12/2020-21 / 2847 |
|
Compliance Requirement UNDER Companies
Act, 2013 and Rules made thereunder;
·
For all forms except,
Charge related:If due date of any form given below falling between 1st April,
2021 to 31st July, 2021 then those forms can be file without
additional fees till 31st August, 2021.
·
For Charges related forms
-
In line with the extension provided in General Circular 12/2021 issued by the
Ministry of Corporate Affairs, Additional Fee/Ad valorem fee in respect of
Charge documents viz. CHG-1 and CHG-9 shall be calculated after excluding No.
of days between 01st April 2021 to 31st July 2021 based on the event date
entered in the form.
|
Applicable
Laws/Acts
|
Due
Dates |
Compliance Particulars |
Forms
/ Filing mode |
|
Companies Act, 2013
|
Within 180 Days From The Date Of
Incorporation Of The Company (one time compliance only)
|
As per Section 10 A (Commencement of
Business) of the Companies Act, 2013, inserted vide the Companies (Amendment)
Ordinance, 2018 w.e.f. 2nd November, 2018, a Company Incorporated after the
ordinance and having share capital shall not commence its business or
exercise any borrowing powers unless a declaration is filed by the Director
within 180 days from the date of Incorporation of the Company with the ROC. |
MCA E- Form INC 20A (one time compliance)
|
|
Companies Act, 2013
|
First declaration within 90 days from the date of notification
Dt. 08.02.2019
|
A person having Significant beneficial
owner shall file a declaration to the reporting company http://www.mca.gov.in/Ministry/pdf/CompaniesOwnersAmendmentRules_08020219.pdf i.e. within 90 days of the
commencement of the Companies (Significant Beneficial Owners) Amendment
Rules, 2019 i.e. 08.02.2019
In case
Subsequent Acquisition of the title of Significant Beneficial Owner / Any
Change therein a declaration in Form No. BEN-1 required to be filed to the
reporting company, within 30 days of acquiring such significant beneficial
ownership or any change therein.
|
Form BEN-1 Draft Format
available at |
|
Companies Act, 2013
|
within 30
days of acquiring beneficial interest |
Filing of form BEN-2 under the
Companies (Significant Beneficial Owners) Rules, 2018. (the date of receipt of declaration in BEN-1
) |
Form BEN – 2 (e-form deployed by Ministry (ROC)) on 01.07.2019 |
|
Companies Act, 2013
|
One time Compliance |
Filing of the particulars of the
Company & its registered office. (by every company incorporated on or
before the 31.12.2017.) |
Active Form INC -22A |
|
Companies Act, 2013
|
Annual Compliance (30.09.2021) |
*DIN KYC through DIR
3 KYC Form is an Annual Exercise. Last date for filing DIR-3 KYC for
Financial year 2020-21is 30th
September, 2021
Annual Exercise:CLICK HERE Penalty after due
date is Rs. 5000/-(one time) |
E-Form DIR – 3 KYC (Web Based and
E-form)
|
|
Companies Act, 2013 |
Within 270 days from the date of
deployment of this Form |
Annual Return To Be Filed By Auditor
With The National Financial Reporting Authority Note on NFRA -2Click Here |
NFRA-2 (NFRA-2 e-Form live
since 9th December 2019.) |
|
Companies Act, 2013 |
Within 15 days of appointment of an
auditor. |
The Ministry in its General Circular
No. 12/2018 dated 13th December, 2018 clarified that filing of Form NFRA-1 is
applicable only for Bodies Corporate and ruled out filing by Companies as
defined under sub-section (20) of Section 2 the Act. |
E – Form NFRA -1 |
|
Companies Act, 2013 |
Within 30 days of the board meeting |
Filing of resolutions with the ROC
regarding Board Report and Annual Accounts. The details of the resolutions
passed should be filed. |
MGT-14 (Filing of resolution with MCA) |
|
Companies Act, 2013 |
Within 60 (sixty) days from the
conclusion of each half year. |
Reconciliation of Share Capital Audit
Report (Half-yearly) Pursuant to sub-rule Rule 9A (8)
of Companies (Prospectus and Allotment
of Securities) Rules, 2014 To be filed all unlisted companies,
deemed public companies Till further clarification to be
filled in GNL-2 |
E-Form PAS – 6 |
|
Companies Act, 2013 |
30th June, 2021 |
Every company must file DPT 3 for
outstanding loans annually.
The Companies (Acceptance of Deposits)
Amendment Rules, 2019, |
E-Form DPT – 3 |
|
Companies Act, 2013 |
(Half Yearly basis) |
Form for furnishing half yearly return
with the registrar in respect of outstanding payments to Micro or Small
Enterprise |
E-Form MSME-1 |
|
Companies Act, 2013 |
One-time compliances |
Application for issue of immunity certificate
under the Companies Fresh Start Scheme (CFSS) 2020 |
E-Form CFSS |
|
Companies Act, 2013 |
One Time compliances |
Registration of Entities for
undertaking CSR activities - Trust/
Society/ Section 8 Company need to file before Acceptance of Donation as CSR
w.e.f. 01st April 2021 |
E-Form CSR-1 |
v LLP
Compliance:
|
Applicable
Laws/Acts
|
Due
Dates |
Compliance Particulars |
Forms
/ Filing mode |
|
LLP Act, 2008
|
within 60 days from the
closure of the financial year (date extended till 31.08.2021) |
LLP Annual Filing- An annual statement
for submitting details of the business of the LLP and its partners for the FY
2020-21 |
Form LLP-11
|
r KEY
UPDATES – July, 2021:
1. LLP Amendment Bill,
2021
Cabinet approves amendments to LLP Act
The
Cabinet on 28th day of July, 2021, Wednesday, approved amendments to
the Limited Liability Partnership (LLP) Act for decriminalising offences under the lawas the government
looks to improve ease of doing business and encourage start-ups. LLPs are
becoming popular among start-ups.
Currently,
there are 24 penal provisions in the LLP Act, 21 compoundable offences, and
three non-compoundable offences. After the amendments, the penal provisions
will be cut to 22, compoundable offences will be only seven and
non-compoundable will remain the same.
Key Highlights:
1. Total
of 12 offences to be decriminalized under LLPs.
2. Many
of the startups can also benefit from the ease of doing business.
3. Criminality
has been removed to provide ease of doing business to law-abiding corporates in
LLP firms.
4. The
12 decriminalised offences will then get shifted to an internal adjudication
mechanism to help unclog criminal courts from routine cases.
5. The
government has also approved creation
of a class of small LLPs to encourage entrepreneurs. These LLPs will be
subject to fewer compliances, reduced fee or additional fee, and smaller
penalties in the event of default.
6. The
changes, including removing criminal action for failure to comply with
provisions of the Act, will help about 2.30 lakh such firms in the country.
7. "A
penalty in the form of a fine has been decided for violations of general
trends. This boosts Aatmanirbhar Bharat.
q New Concepts:
Definition of Small
Company:
1. The
government will also introduce a new definition of small LLPs based on their turnover size and contributions by
partners or proprietors. At present, there are relaxations for thresholds up to
turnover size and partner’s contribution of Rs 40 lakh and Rs 25 lakh,
respectively.
2. “Now,
Rs 25 lakh will go to Rs 5 crore and Rs 40 lakh turnover size will now be
treated as Rs 50 crore. So, even Rs 5 crore contribution and Rs 40 crore or Rs
50 crore turnover will be treated as a small LLP, which means we are expanding
the scope of what can be a small LLP.
Lower compliance will incentivise
unincorporated micro and small partnerships to convert into the organised
structure of an LLP and derive its benefits.The corporate affairs ministry is
also working towards setting up an e-adjudication platform as part of the new
version of the MCA21 portal.
q Important Updates
MCA
Monthly UPdate Calendar: JULY, 2021
|
Sl.
|
Particulars of the Circulars |
Link |
|
1 |
Extension of last date for
submission of public comments to 30th July, 2021 for Consultation Paper on
Enhancing Engagement with Stakeholders |
|
|
2 |
Refer the attached file for the list of forms for which
additional fee waiver shall be made available/ extended in line with the General
Circulars 11/2021 and 12/2021. |
|
|
3 |
In line with the extension provided in General Circular
11/2021 issued by the Ministry of Corporate Affairs, stakeholders shall be
allowed to file various forms due for filing between 1st April 2021 to 31st
July 2021 under the Companies Act 2013 or LLP Act, 2008 without payment of
additional fees up to 31st August 2021. Please refer the list of forms under
Latest News Section. |
|
|
4 |
In line with the extension provided in General Circular
12/2021 issued by the Ministry of Corporate Affairs, Additional Fee/Ad
valorem fee in respect of Charge documents viz. CHG-1 and CHG-9 shall be
calculated after excluding No. of days between 01st April 2021 to 31st July
2021 based on the event date entered in the form. |
|
|
5. |
E-form CFSS-2020 may be
filed till 31st August 2021. Stakeholders may please note and plan
accordingly. |
|
|
6. |
Publication of notice
u/s 75 of the LLP Act, 2008 read with sub Rule 1(b) read with Rules 37(2) |
|
|
7 |
Shri Rao Inderjit Singh takes charge
as Union Minister of State in Ministry of Corporate Affairs |
|
|
8 |
List of Disqualified Directors(2019-2024) u/s 164(2)(a) r/w
section 167 of the Companies Act 2013 |
|
|
9 |
New eform MGT-7A and revised eform MGT-7 in line with the
Companies (Management and Administration) Amendment Rules, 2021 is now
available for filing under MCA21 Company forms download page. Stakeholders
are advised to check the latest version before filing. |
|
|
10 |
Publication of notice u/s 75 of the LLP Act, 2008 read with
sub Rule 1(b) read with Rules 37(2) |
|
|
11 |
Report of the Committee
to Review CARO, 2016 under the Companies Act, 2013 dated 28.06.2021 |
|
|
12 |
Companies
(Incorporation) Fifth Amendment Rules 2021 |
|
|
13 |
Commencement notification dated
22.07.2021 |
|
|
14 |
Clarification on spending of CSR
funds for COVID-19 vaccination - reg |
|
DISCLAIMER: The Article is
based on the Relevant Provisions and as per the information existing at the
time of the preparation. In no event we shall be liable for any direct and
indirect result from this document. This is only a knowledge sharing
initiative.
Author CS DEEPAK SETH can be reached at 9910248911 and contacthhpto@gmail.com
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