Compliance requirement under Income Tax
act, 1961
Income Tax Act, 1961
|
07.02.2020
|
Due date
for deposit of tax deducted/collected for the month of January, 2020. (TDS
& TCS)
However, all the sum deducted/collected by an
office of the government shall be paid to the credit of the Central
Government on the same day where tax is paid without production of an
Income-tax Challan
|
TDS &
TCS
|
|
Income Tax Act, 1961
|
14.02.2020
|
Due date for issue of TDS
Certificate for tax deducted under section 194-IA in the month of
December, 2019
|
|
|
Income Tax Act, 1961
|
14.02.2020
|
Due date for issue of TDS
Certificate for tax deducted under section 194-IB in the month of
December, 2019
|
|
|
Income Tax Act, 1961
|
14.02.2020
|
Due date for issue of TDS
Certificate for tax deducted under section 194M in the month of
December, 2019
|
TDS Certificate u/s 194M
|
|
Income Tax Act, 1961
|
15.02.2020
|
Due date for furnishing of Form
24G by an office of the Government where TDS/TCS for the month of
January, 2020 has been paid without the production of a challan
|
Form 24G
|
|
Income Tax Act, 1961
|
15.02.2020
|
Quarterly TDS certificate (in respect of tax deducted for payments other than salary) for the
quarter ending December 31, 2019
|
Quarterly TDS certificate
|
·
Note:
1.
PAN-Aadhaar linking deadline extended to MARCH, 2020
The
due date for linking of PAN with Aadhaar as specified under sub-section 2 of
Section 139AA of the Income-tax Act,1961 has been extended from 31st December,
2019 to 31st March, 2020. (Notification no.107 of 2019 dated 30/12/2019
issued by CBDT.)
2.
Amendment of rule 10DA and rule 10DB regarding
furnishing of information and maintenance of documents by Constituent Entity of
an international group
Short
title and commencement:
• These rules may be
called the Income-tax (2nd Amendment) Rules, 2020.
• they shall come into
force on the date of their publication in the Official Gazette
· Important Notifications:
|
Sl. No.
|
Particulars of
the Notification(s)
|
Notification
Link(s)
|
|
1.
|
Public
consultation on the proposal for amendment of Income-tax Rules 1962, to inset
new rule 29BA and Form 15E, to give effect to the amendment in section 195 of
the Income-tax Act, 1961 (the Act) vide Finance (No.2) Act 2019
|
|
|
2.
|
Income-tax (1st
Amendment) Rules, 2020.
Applicable
w.e.f. 01.04.2020.
|
|
|
3.
|
Income-tax (2nd
Amendment) Rules, 2020
Applicable w.e.f.
date of their publication in the
Official Gazette.
|
|
|
4.
|
Notification No.
07/2020 [F. No. 203/02/2019 -ITA-II] / SO 389(E) : Notification No. 07/2020
[F. No. 203/02/2019 -ITA-II] / SO 389(E) !New
28 January 2020
|
|
|
5.
|
Notification No.
05/2020 [F. No. 187/02/2020-ITA-I] / SO 388(E) : Notification No. 05/2020 [F.
No. 187/02/2020-ITA-I] / SO 388(E) !New
28 January 2020
|
|
|
6.
|
Notification No.
06/2020 [F. No. 187/02/2020-ITA-I] / SO 387(E) : Notification No. 06/2020 [F.
No. 187/02/2020-ITA-I] / SO 387(E) !New
27 January 2020
|
|
|
7.
|
Notification No.
3/2020 [F.No.370142/19/2019-TPL] /GSR 14(E) : Amendment of rule 10DA and rule
10DB regarding furnishing of information and maintenance of documents by
Constituent Entity of an international group
6 January 2020
|
Compliance Requirement under Goods & Services Tax
Act, (GST) 2017
|
Applicable Laws/Acts
|
Due Dates
|
Compliance Particulars
|
Forms/
(Filing mode)
|
|
GST, Act, 2017
|
10.02.2020 |
Form GSTR-7
{TDS Deductor)
|
GSTR-7
|
|
GST, Act, 2017
|
10.02.2020 |
Form GSTR-8 (for the month of January 2020) -TCS Collector
(Summary of Tax Collected
at Source (TCS) and deposited by E-commerce operators under GST laws)
|
GSTR – 8
|
|
GST, Act, 2017
|
11.02.2020
|
Return of
outward supplies of taxable goods and/or services for the Month of January
2020 (for Assesses having turnover exceeding 1.5 Cr.) Monthly Return.
|
GSTR – 1
|
|
GST, Act, 2017
|
13.02.2020
|
Due date
for Furnishing return of January 2020 by Input Service Distributors (ISD)
|
GSTR – 6
|
|
GST, Act, 2017
|
20th of the succeeding
|
Payment of self-assessed tax
(Payment of tax shall be
made by 20th of the month succeeding the month to which the liability
pertains.)
|
PMT-08
|
|
GST, Act, 2017
|
18 months
after end of the quarter for which refund is to be claimed
|
Application for Refund
|
RFD-10
|
|
GST, Act, 2017
|
20.02.2020
|
Summary of
outward taxable supplies and tax payable by Non-Resident taxable person &
OIDAR respectively.
(for the
month of January
2020)
|
GSTR-5
&
GSTR - 5A
|
|
GST, Act, 2017
|
20.02.2020*
22.02.2020*
24.02.2020*
|
Simple GSTR
return for the month of January, 2020
|
GSTR – 3B
|
|
GST, Act, 2017
|
18.02.2020
|
Return
filed by composition dealer statement-cum-challan
to declare the details or summary of his/her self-assessed tax payable for a
given quarter.
(October
2019 to December 2019)
|
CMP - 08
|
|
^GST, Act, 2017
|
*03.02.2020
*05.02.2020
*07.02.2020
|
Annual
Returns for FY 2017-18
|
GSTR-9,
& GSTR-9C
|
|
GST, Act, 2017
|
3 months of the registration cancellation
date or order cancellation date, whichever comes late
|
A taxable
person who opts for cancellation of GST registration has to file a final
return under GST law in form GSTR-10 within three months.
|
GSTR - 10
|
|
GST, Act, 2017
|
28th of the month following
the month in which an inward supply is received by the UIN holders
|
Statement
of inward supplies by persons having Unique Identification Number (UIN)
|
GSTR - 11
|
Note:
*The govt has eased filing of GST returns for taxpayers by
allowing them to file in a staggered manner and has provided three dates for
different categories of taxpayers.
|
a. If Turnover
> 5Crore:
|
b. If Turnover <
5Crore (in two parts)
|
|
|
Due date of GSTR
3B - 20th every month)
|
i. 15
States/UT’s: due date is *22nd (every month)
|
ii. 22
States/UT’s: due date is *24th (every
month)
|
|
(States:- Chhattisgarh, MP, Gujarat, Daman and Diu, Dadra and Nagar Haveli,
Maharashtra, Karnataka, Goa, Lakshadweep, Kerala, TN, Puducherry, Andaman and
Nicobar Islands, Telangana and Andhra Pradesh)
|
(states:- J&K, Laddakh, Himachal Pradesh, Punjab, Chandigarh, Uttarakhand,
Haryana, Delhi, Rajasthan, UP, Bihar, Sikkim, Arunachal Pradesh, Nagaland,
Manipur, Mizoram, Tripura, Meghalaya, Assam, West Bengal, Jharkhand and
Odisha)
|
|
v Note on GST Annual Returns -
Due date extended’
CBIC (@cbic_india) Tweeted:
|
Group 1
|
Group 2
|
Group3
|
|
Due Date:
03.02.2020
|
Due Date:
05.02.2020
|
Due Date:
07.02.2020
|
|
States:
Maharashtra, Karnataka,
Goa, Kerala, Tamil Nadu, Puducherry, Telangana, Andhra Pradesh, Other
Territory
|
States:
Jammu and Kashmir,
Himachal Pradesh, Punjab, Chandigarh, Uttarakhand, Haryana, Delhi, Rajasthan,
Gujarat
|
Bihar, Sikkim, Arunachal
Pradesh, Nagaland, Manipur, Mizoram, Tripura, Meghalaya, Assam, West Bengal,
Andaman & Nicobar Islands, Jharkhand, Odisha, Chhattisgarh, Dadra and
Nagar Haveli and Daman and Diu, Lakshadweep, Madhya Pradesh, Uttar Pradesh
|
Key UPDATE(s):
1. New GSTIN reallocated to taxpayers of Union Territory
of Ladakh (dated 01.01.2020)
New
GSTINs are reallocated to active existing taxpayers registered under J & K
State earlier with State code(01), having Principal Place of Business in
jurisdiction of Union territory of Ladakh (with UT code “38”). The list
contains new GSTINs along with old GSTINs. Taxpayers are requested to use new
GSTINs while generating the invoices and receiving of supplies etc. w.e.f. 1st
Jan 2020.
2.
New
GSTIN reallocated to taxpayers of Union Territory of Ladakh
New GSTINs are reallocated to
active existing taxpayers registered under J & K State earlier with State code(01),
having Principal Place of Business in jurisdiction of Union territory of Ladakh
(with UT code “38”). The list contains new GSTINs along with old GSTINs.
Taxpayers are requested to use new GSTINs while generating the invoices and
receiving of supplies etc. w.e.f. 1st Jan 2020.
GST
UPDATES AS ON 29.01.2020:|
Sl.
No.
|
Notification(s)
|
Notification
No.
|
Link(s)
|
|
1.
|
Seeks to bring into force certain provisions of
the Finance (No. 2) Act, 2019 to amend the CGST Act, 2017.
|
01/2020-Central Tax ,dt. 01-01-2020
|
|
|
2.
|
Seeks to make amendment (2020) to CGST Rules.
|
02/2020-Central Tax ,dt. 01-01-2020
|
|
|
3.
|
Seeks to amend the notification No. 62/2019-CT dt.
26.11.2019 to amend the transition plan for the UTs of J&K and Ladakh
|
03/2020-Central Tax ,dt. 01-01-2020
|
|
|
4.
|
Seeks to extend the one-time amnesty scheme to
file all FORM GSTR-1 from July 2017 to November, 2019 till 17th January,
2020.
|
04/2020-Central Tax ,dt. 10-01-2020
|
|
|
5.
|
Seeks to appoint Revisional Authority under CGST
Act, 2017.
|
05/2020-Central Tax ,dt. 13-01-2020
|
|
|
6.
|
Seeks to bring into force certain provisions of
the Finance (No. 2) Act, 2019 to amend the IGST Act, 2017
|
01/2020-Integrated Tax,dt. 01-01-2020
|
Important Circulars:|
Sl.
No.
|
Circular
(s)
|
File
No.
|
Link(s)
|
|
1.
|
F. No. CBEC-20/16/07/2020-GST(Circular no.
131/1/2020)
|
F. No. CBEC-20/16/07/2020-GST
|
Disclaimer:
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