In the wake of the second wave of the COVID-19 pandemic, the Government has extended the dates of various compliance by Taxpayers under GST Act, Income Tax Act and Companies Act.
Extension of Deadlines under Goods and Service Tax
|Return||Description||Tax Period||Due Date||Extended Deadline|
|Form GSTR-1||Taxpayer filing Monthly returns||April, 2021||11 May, 2021||May 26, 2021|
|Form IFF||Taxpayers under QRMP Scheme||April, 2021||13 May, 2021||May 28, 2021|
|GSTR-4||Composition Taxpayers (Annual Return)||FY 2020-21||30 April, 2021||31 May, 2021|
|GSTR-5||Non Resident Taxpayers (NRTP)||April, 2021||20 April/ May, 2021||31 May, 2021|
|GSTR-6||Input Service Distributors (ISD)||April, 2021||13 May, 2021||31 May, 2021|
|GSTR-7||Tax Deductors at Source (TDS deductors)||April, 2021||10 May, 2021||31 May, 2021|
|GSTR-8||Tax Collectors at Source (TCS collectors)||April, 2021||10 May, 2021||31 May, 2021|
It is noteworthy that the the due date for filing of Form GST ITC-04 , which is to be filed by Principal/Manufacturer for goods sent/received/supplied from Job Worker for the quarter Jan-March, 2021, (due date 25th April, 2021) has been extended till 31st May, 2021.
Extension of Deadlines under Income Tax
|Applicable Rule/ Section||Description||Tax Period||Due Date||Extended Deadline|
|114E||Statement of Financial Transactions||2020-21||31st May 2021||30th June 2021|
|114G||Statement of reportable account||Calendar year 2020||31 May 2021||30 June 2021|
|31A||TDS returns||Jan to March 2021||31 May 2021||30 June 2021|
|31||Form 16 wrt Tds salary returns||2020-21||15 June 2021||15 July 2021|
|30 & 37CA||TDS/TCS book adjustment Form 24G||May 2021||15 June 2021||30 June 2021|
|33||Tax Deduction statement by trustees of approved superannuation fund||2020-21||31 May 2021||30 June 2021|
|12CB||Statement of Income paid or credited by investment fund in Form 64D||2020-21||15 June 2021||30 June 2021|
|12CB||Statement of Income paid or credited by investment fund in Form 64C||2020-21||30 June 2021||15 July 2021|
|Section 139(1)||Income tax returns for non-audit cases||2020-21||31 July 2021||30 September 2021|
|Income Tax Act||Audit report||2020-21||30 September 2021||31st October 2021|
|Section 92E||Audit report for international transaction or specified domestic transaction||2020-21||31 October 2021||30thNovember 2021|
|Section 139(1)||Income tax returns for audit/ company cases||2020-21||31 October 2021||30thNovember 2021|
|Section 139(1)||Income tax returns with due date 30th November 2021||2020-21||30 November 2021||31stDecember 2021|
|Section 139(4) 139(5)||Belated/ Revised income tax returns||2020-21||31 December 2021||31st January 2022|
It is noteworthy that the Central Board of Direct Taxes (CBDT) did not extend the deadline for two compliances namely Form 15G and 15H in respect of Fixed Deposit (FD) and Payment of Self-assessment tax above Rs.1 Lakh. Therefore, the taxpayer may submit 15G and 15H on or before June 30 and Self Assessment Tax over Rs 1 lakh to be filed by July 31, 2021.
Extension of Deadlines under Companies Act
The Ministry of Corporate Affairs (MCA) has provided 3 circulars so as to give relief due to covid from compliance beneath companies act 2013 towards ROC Form filings and holding of the board meetings.
Circular 1: Maximum Gap Among Two Board Meetings
In between the 2 board meetings the MCA has prolonged the gap by 60 days for 1st two quarters of the fiscal year 2021-22. As per that the gap amid 2 consecutive board meetings might be prolonged to 180 days in April to June and July to August quarters.
For example: if the 120 gap of board meeting falls from March 1, 2021 to September 30, 2021 then the highest gap of the board meeting will be acknowledged as 180 days. For example, if 120 gets finished on 30 April then 180 days will be acknowledged till 30th June.
Circular 2: Relaxation in Additional Fees for Filing of Form Post to the Due Date
According to the circular, if the last date of any form (except CHG-1, CHG-4, and CHG-9) comes in between April 1, 2021 to May 30, 2020 then those forms can be furnished excluding any other fees till 31 July, 2021. For example, April 30, 2021 is the last date for MSME-1. This filing date comes beneath the above dates thus this can be furnished till July 31, 2021.
Circular 3: Relaxation in Time for Filing of Charge Related Form Post to the Due Date
According to the provisions of Section 77 of Companies Act, 2013 form CHG-1 and CHG-9 towards the making and amendment of charge required to be furnished in a maximum of 120 days from the development or amendment.
Circular will be applied in the mentioned way:
Part I: if the date of making or amendment of charge is prior to April 1, 2021. If the date of making or amendment of charge is prior to April 1, 2021 however the timeline for furnishing these forms has not expired beneath Section 77 (i.e. 120 days) since April 01, 2021.
For Example, the charge made or amended prior to 1st April 2021 but since 1st April 2021, one hundred twenty days 120 days has not lapsed. In other terms we can state that charge is made or amended on or after 2 December 2020 is subjected to the policy.
Part-II: if the date of making or amendment of charge is from April 01, 2021, to May 31, 2021. If the date of making or amendment of charge is from April 01, 2021, to May 31, 2021, then all these forms will come beneath the policy.
For example, if the charge made or amended post 1st April 2021 then the policy is also subject to apply in all these forms.
The Ministry of Corporate Affairs has circulated the declaration for the relief due to covid as per the companies act 2013 for furnishing the particular form with ROC. rather than publishing the form any form posing the last date from 01st April 2021 to 30th May 2021 can be filed till 31st July 2021.
|Form||Purpose Of Form||Periodicity||Due Date||Extended Due Date|
|MSME-1||Form for furnishing half yearly return with the registrar in respect of outstanding payments to micro or small enterprises||Half yearly (Oct-Mar)||30 April, 2021||31 July, 2021|
|PAS-6||Reconciliation of Share Capital Audit||Half yearly (Oct-Mar)||30 May 2021||31 July, 2021|
|LLP-11||Annual Return of LLP||Yearly||30 May 2021||31 July, 2021|
|FC-4||Annual Return of Foreign Company||Yearly||30 May 2021||31 July, 2021|