Revised Due Dates under Income Tax & GST

Revised Due Dates under Income Tax & GST
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Revised Due Dates under Income Tax & GST

 

Considering the hardships faced by taxpayers due to the outbreak of Novel Corona Virus {COVID-19}. The Government of India has notified various due dates for the following statutory compliances relating to Income Tax & GST. Announcement for the due date extension was made on the official Twitter handle of Income-tax India & CBIC_India by issuing a press release on 30th Dec 2020. Notification for the same is yet to be issued.

Revised Due Dates for Income Tax for AY 2020-21 (FY 2019-20)

Compliance

Financial Year

Original Due Date

New Due Date

Original return (Non- Audit cases)2019-2031.07.2020

10.01.2021

Original Return (Audit cases)

2019-2031.10.202015.02.2021
Tax Audit and other reports2019-2030.09.2020

15.01.2021

Original Return of partner (whose Firm is liable for Audit)

2019-2031.10.202015.02.2021
Original Return (Where Transfer Pricing Applicable)2019-2030.11.2020

15.02.2021

Vivad Se Vishwas Scheme (Without payment of Additional Interest)

31.03.2020

31.03.2021

Note:  Interest u/s 234A shall be charged from the date of the original due date of return if the tax liability exceeds Rs. 1 Lakh. It means that if the tax liability is not more than 1 Lakh, then no interest u/s 234A shall be levied.

Note 2: – Declaration for ‘Vivad se Vishwas Scheme’ has to be filed by 31st January 2021.

 

Revised Due Dates for Goods & Service Tax

ParticularsRevised Date
GST Annual Return for FY 2018-19 (GSTR 9, 9A, 9B and 9C)

31st Dec 2020

GST Annual Return for FY 2019-20 (GSTR 9, 9A, 9B and 9C)

28th Feb 2021

Note: Late fees applicable if GST Annual Returns are not furnished within the due date.



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CA Mehul Gupta