Compliance A Ready Reckoner

Compliance A Ready Reckoner

Comprehensive Charts for Indirect Tax and Direct Tax Compliances

Indirect Tax (GST Compliance)

GSTR-3B (As per Rule 61(5) of CGST Rules 2017) IF TURNOVER MORE THAN RS. 5 CRORE

TAX PERIOD	DUE DATE	LATE FEES	NO INTEREST*	INTEREST RATE @ 9%	INTEREST RATE @ 18%
FEBRUARY 2020	20.03.2020	NO LATE FEES IF FILED RETURN FILED BEFORE 24.06.2020	04.04.2020	05.04.2020- 24.06.2020	FROM 25.06.2020 i.e. If Return filed after 24.06.2020.
MARCH 2020	20.04.2020		05.05.2020	06.05.2020- 24.06.2020
APRIL 2020	20.05.2020		04.06.2020	05.06.2020- 24.06.2020
MAY 2020	27.06.2020	27.06.2020	Interest rate @ 18%, if not filed within the due date
JUNE 2020	20.07.2020	20.07.2020
JULY 2020	20.08.2020	20.08.2020
*NIL FOR 15 DAYS FROM THE DUE DATE

 

GSTR-3B IF TURNOVER UPTO RS. 5 CRORE (CATEGORY 1*)

TAX PERIOD	DUE DATE	NO LATE FEES AND INTEREST IF RETURN FILED BY (52.2020 dt. 24.06.2020)	INTEREST RATE @ 9% (51.2020 dt. 24.06.2020)	INTEREST RATE @ 18%
FEBRUARY 2020	22.03.2020	30.06.2020	01.07.2020-30.09.2020	FROM 01.10.2020 i.e. If Return filed after 30.09.2020.
MARCH 2020	22.04.2020	03.07.2020	04.07.2020-30.09.2020
APRIL 2020	22.05.2020	06.07.2020	07.07.2020-30.09.2020
MAY 2020	12.07.2020	12.09.2020	13.09.2020-30.09.2020
JUNE 2020	22.07.2020	23.09.2020	24.09.2020-30.09.2020
JULY 2020	22.08.2020	27.09.2020	28.09.2020-30.09.2020
AUGUST 2020	01.10.2020	01.10.2020	–

 

*Chhattisgarh, Madhya Pradesh, Gujarat, Maharashtra, Karnataka, Goa, Kerala, Tamil Nadu, Telangana, Andhra Pradesh, the Union territories of Daman and Diu and Dadra and Nagar Haveli, Puducherry, Andaman, and the Nicobar Islands or Lakshadweep

GSTR-3B FOR TURNOVER UPTO RS. 5 CRORE (CATEGORY 2*)

TAX PERIOD	DUE DATE	NO LATE FEES AND INTEREST IF RETURN FILED BY (52.2020 dt. 24.06.2020)	INTEREST RATE @ 9% (51.2020 dt. 24.06.2020)	INTEREST RATE @ 18%
FEBRUARY 2020	24.03.2020	30.06.2020	01.07.2020-30.09.2020	FROM 01.10.2020 i.e. If Return filed after 30.09.2020.
MARCH 2020	24.04.2020	05.07.2020	06.07.2020-30.09.2020
APRIL 2020	24.05.2020	09.07.2020	10.07.2020-30.09.2020
MAY 2020	14.07.2020	15.09.2020	16.09.2020-30.09.2020
JUNE 2020	24.07.2020	25.09.2020	26.09.2020-30.09.2020
JULY 2020	24.08.2020	29.09.2020	30.09.2020-30.09.2020
AUGUST 2020	03.10.2020	03.10.2020	–

 

*Himachal Pradesh, Punjab, Uttarakhand, Haryana, Rajasthan, Uttar Pradesh, Bihar, Sikkim, Arunachal Pradesh, Nagaland, Manipur, Mizoram, Tripura, Meghalaya, Assam, West Bengal, Jharkhand or Odisha, the Union territories of Jammu and Kashmir, Ladakh, Chandigarh or Delhi

GSTR-3B Clarification in Respect of Late Fees

Notification 57/2020 – Central Tax dated 30.06.2020
CBIC has issued Notification No.57/2020 on 30.06.2020 to prescribe the maximum amount of penalty if GSTR-3B is filed up to 30.09.2020. The maximum amount of penalty has been restricted to Rs. 500/- in case of other than NIL returns and zero in case of NIL returns for the tax periods from Feb 2020 to July 2020.	The said relief is for both class of taxpayers i.e. taxpayers having turnover up to Rs. 5 crores or more than 5 crores.	Further, vide Twitter Handle of GST Tech it is clarified that The change in late fee amount made vide notification no. 57/2020 dated 30-06- 2020 has been incorporated on the GST portal.	Late fees paid in excess than prescribed in the notification shall be recredited in due course. (CBIC Tweet dated 01.07.2020)

 

GSTR-1 (U/s 37 of CGST Act, 2017 r.w. Rule 59(1) of CGST Rules, 2017)

TAX PERIOD	DUE DATE	NO LATE FEES IF RETURN FILED BY (53.2020 dt. 24.06.2020)
Return Frequency: Monthly
MARCH 2020	11.04.2020	10.07.2020
APRIL 2020	11.05.2020	24.07.2020
MAY 2020	11.06.2020	28.07.2020
JUNE 2020	11.07.2020	05.08.2020
Return Frequency: Quarterly
JAN 2020 – MARCH 2020	30.04.2020	17.07.2020
APRIL 2020 – JUNE 2020	31.07.2020	03.08.2020
JULY 2020 – SEPTEMBER 2020	11.10.2020	31.10.2020

 

Notification No. 21 /2020 – Central Tax dated 23rd March 2020

For registered persons whose principal place of business is in the erstwhile State of Jammu and Kashmir or the Union territory of Jammu and Kashmir or the Union territory of Ladakh for the quarter October-December, 2019 till 24th March 2020

Applicability of GSTR 9

Turnover	GSTR-9	GSTR-9C
Up to 2 Crore	Optional	Not Applicable
From 2 Crore up to 5 Crore	Mandatory	Optional
More than 5 Crore	Mandatory	Mandatory

 

GSTR-9 & 9C

PARTICULAR	DUE DATE
FY 2017-18
Group 1: Chandigarh, Delhi, Gujarat, Haryana, Jammu and Kashmir, Ladakh, Punjab, Rajasthan, Tamil Nadu, Uttarakhand.
If Turnover more than 5Cr.	05.02.2020
Group 2: Andaman and Nicobar Islands, Andhra Pradesh, Arunachal Pradesh, Assam, Bihar, Chhattisgarh, Dadra and Nagar Haveli and Daman and Diu, Goa, Himachal Pradesh, Jharkhand, Karnataka, Kerala, Lakshadweep, Madhya Pradesh, Maharashtra, Manipur, Meghalaya, Mizoram, Nagaland, Odisha, Puducherry, Sikkim, Telangana, Tripura, Uttar Pradesh, West Bengal, Other Territory.”
If Turnover more than 5Cr.	07.02.2020
FY 2018-19
(No State grouping)	30.09.2020

 

GSTR-9A (ANNUAL RETURN FOR COMPOSITION DEALER)

TAX PERIOD	Revised Due Date
FY 2017-18	31.01.2020
FY 2018-19	30.09.2020

 

Waiver of the requirement of filing GSTR-9A form for the said tax periods (FY 2017-18 and FY 2018-19) by GST Council 37th meeting.

LATE WAIVER FOR PAST RETURNS (1/2) 

TAX PERIOD	GSTR 3B	CONDITION
JULY 2017 – JANUARY 2020	RS. 500.- PER RETURN (max.)  NIL:- IF NIL RETURN WAS FILED	If the returns are filed between the period 01.07.2020 – 30.09.2020

LATE WAIVER FOR PAST RETURNS (2/2)

Brief Insight in this Respect (NN 52/2020 dated 24.06.2020) 

• It is to be noted that the relief in late fees is only for GSTR-3B and not for GSTR 1. The benefit is available only if returns are filed between 01 July 2020 to 30 September 2020. The benefit is available to all taxpayers. 

• Section 47 of the Central Goods and Services Act, 2017 provides that late fees of Rs. 100 per day would be applicable for the late filing of return mentioned under Section 39 of the CGST Act. (This is subject to a maximum cap of Rs 5,000) 
• However, in terms of Notification No. 76/2018 dated 31-12-2018 where tax payable in GSTR 3B is nil, late fees of Rs 10 per day are levied and in other cases, it is Rs 25 per day.
• A similar notification is notified under the respective State GST laws.
• GST council’s decision to waive the late fee for assesses who have not filed any of their GST returns from July 2017 till March 2020 has raised several eyebrows as well.
• As the waiver has been given with the condition that such return should be filed between July 1st till September 30th, 2020, huge resentment is being witnessed amongst those assesses who have already paid huge penalties and filed their delayed GST returns. 

COMPOSITION DEALER

RETURN TYPE	PERIOD	DUE DATE	NEW DUE DATE
CMP 08	QE March 2020	18.04.2020	07.07.2020
CMP 02	FY 20-21	30.04.2020	30.06.2020
GSTR 4	FY 19-20	31.03.2020	31.08.2020*
ITC 03	FY 20-21	30.05.2020	31.07.2020

 

Brief Background

• In April 2019, a new return-filing procedure was laid down for composition dealers. Form CMP-08 was introduced in April 2019 to make it applicable from FY 2019-2020 onwards. It replaces the erstwhile quarterly GSTR-4 filed by composition dealers 
• In addition to Form CMP-08, a composition dealer will also need to file his/her annual return via the revised format of Form GSTR-4 by 30 April following the end of a specific fiscal year. 
• CMP-01 is a form to be filed by a migrated taxpayer who wants to opt for Composition Scheme. The due date for this was 1st August 2017 (1 month from July 2017). 
• A taxpayer who wants to opt for the Composition Scheme for a financial year or during the middle of a financial year has to inform the government about their choice. This is to be done by filing GST CMP- 02 
• ITC 03 form is filed by a taxpayer who has to pay an amount equal to the ITC through electronic credit or cash ledger. To be filled after filing CMP 02. 
• Vide Notification No. 59/2020 – CT dated 13th July 2020 date has been extended till 31.08.2020

OTHER RETURNS

RETURN TYPE	DUE DATE	NEW DUE DATE
GSTR 5 (NON-RESIDENT)	MARCH 2020 – JULY 2020	31.08.2020
GSTR 6 (ISD)
GSTR 7 (TDS)
GSTR 8 (TCS)
GSTR-5A	(No Change) 20th of Next Month	20.07.2020
GSTR-10	(No Change) 3 months of the registration cancellation date or order cancellation date, whichever comes late	–

 

GSTR – 7

It is a return to be filed by the persons who are required to deduct TDS (Tax deducted at source) under GST. GSTR 7 contains the details of TDS deducted, TDS liability payable and paid, TDS refund claimed if any, etc.

The details of TDS deducted is available electronically to each of the deductees in PART ‘C’ of Form GSTR 2A after the due date of filing of Form GSTR 7. Also, the certificate for such TDS deducted shall be made available to the deductee in Form GSTR 7A on the basis of return filed in GSTR-7

GSTR – 8

Every e-Commerce operator who is required to collect taxes at source (TCS) for all the taxable supplies made through it, must file GSTR 8.

The details of such taxable supplies and the tax collected at source by the e-commerce operator need to be reported in the GSTR-8 form.

GSTR -5A & 5

GSTR-5A is a return form to be filed by non-resident Online Information and Database Access or Retrieval (OIDAR) services provider for the services provided from a place outside India to a person in India to unregistered person or non-taxable customers.

GSTR-5 is a return form that has to be filed by a non-resident foreign taxpayer who is registered under GST for the period during which they carry out business transactions in India.

This can either be done online or from a tax facilitation center. This form contains the details of all outward supplies and inward supplies made and received by the non-resident taxpayer.

GSTR 6

It is a monthly return that has to be filed by an Input Service Distributor.

Clarification in respect of ITC-04

As per Section 143 read with rule 45(3), Wherein FORM GST ITC-04 is required to be filed by the principal every quarter.

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Brief Background
The due date for ITC-04 of July 2017- December 2018 was extended to 31st March 2019.	The due date for ITC-04 of July 2017- March 2019 was again extended up to 30th June 2019.	July 2017 to June 2019 extended till the 31st day of August 2019.	Later on, the Filing of the form ITC-04 for the quarters between July 2017 to March 2019 had been waived off.

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Current Position
Vide NN 35/2020 dated 3rd April 2020, the due date for various compliances was extended up to 30th June 2020.	Thereafter, the Circular No. 138/08/2020-GST was issued to clarified to state that the compliance of ITC-04 has also stands extended up to 30th June 2020.	Now, Vide NN 55/2020 dated 27th June 2020, the NN 35/2020 has been modified by extending the due date up to 31st August 2020.

 

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