The government announces GST return filing due dates from time to time in order to maintain taxation in line with respective clearance. Also, the main effort is to alert the taxpayers regarding the GST return filing due dates is to make them neglect any penalty or interest.
Taxpayers who haven’t filed any 2 consecutive GSTR-3B returns upto July 2020 tax period will not be able to generate Part-A of the E-way Bill beginning 15th October.
TDS/TCS return filing date extended
The furnishing of the TDS/ TCS statements and issuance of TDS/ TCS certificates being the prerequisite for enabling the taxpayers to prepare
their return of income for FY 2019-20, the date for furnishing of TDS/ TCS
statements and issuance of TDS/ TCS certificates pertaining to the FY
2019-20 has been extended to 31st July, 2020 and 15th August, 2020 respectively.
Last date for making tax saving investment s extended
The date for making various investment/ payment for claiming deduction under Chapter-VIA-B of the IT Act which includes section 80C (LIC, PPF, NSC etc.), 80D (Mediclaim), 80G (Donations) etc. has also been further extended to 31st July, 2020. Hence the investment/ payment can be made upto 31st July, 2020 for claiming the deduction under these sections for FY 19-20.
1. No late fee on GSTR 3B from July 2017 to January 2020 for taxpayers with no tax liability
2. Late fee on GSTR 3B from July 2017 to January 2020 capped to Rs. 500 for taxpayers liable to pay tax. The reduced late fee would apply for GSTR 3B returns filed between July to September 2020.
3.Small taxpayers with turnover is up to 5 crores can file their returns for the months February to April 2020 till 6th July with no interest and then with a reduced rate of 9% till September 2020.
4. Small taxpayers with turnover up to 5 crores can file their returns for the months May to July 2020 till September 2020 without any interest and late fee.
5. One-time extension in period for revocation of cancellation of registration up to 30th September 2020 for registrations which have been cancelled up to June 12, 2020.