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GST Compliance Calendar – April 2021

April welcomes the new financial year!

The summer heat is all set to rise and businesses are gearing up to start afresh by winding up their old records. Last year, the country was under a complete lockdown in April citing the pandemic situation. We at IRIS GST had started an initiative: #WFH Positivity Dossier wherein we shared #EverythingGSTin21Days along with that we also shared one yoga posture every day to relieve the stress and anxiety for our readers.

This year again there is a spike in the COVID-19 cases; however, contradicting the situation, the GST collections are at an all time high. The government has released a few GST updates and changes in the month of March. We have compiled the same for you here: Top GST News of the Month.

On the IRIS GST front, our team has been helping multiple businesses to start e-invoicing successfully. Our e-invoicing solution – IRIS Onyx has proved to be a blessing for all our clients who managed to carry out the entire process of IRN generation smoothly. Our team has been dedicatedly conducting free webinars to spread awareness about the latest changes and extend support in the implementation of the e-invoice mandate for the 50 Cr. companies.

Since the E-invoicing mandate is set to roll out for companies with 50 Cr. turnover from April 2021, we have updated these articles for your reference:

• E-invoice APIs – Versions and Updates
• E-Invoice Schema and E-Invoice Framework – Complete Guide
• E-invoicing Notifications -E-Invoicing for 50 CR Club from 1st April, 2021
• QR Code: The new identity of a B2B invoice

Here is a round-up of all the important resources we created for you:

• GST Rule Changes Applicable from April 2021
• 2B or not 2B:10 checkpoints to maximize your ITC Claim
• The story ‘beyond compliance’ – All about GST Data
• 4 Factors to Consider while Building Credit Models using GST Data
• Benefits of E-invoicing

Now, let us look at the GST Compliance Calendar for April 2021, here is a comprehensive image of our GST Compliance Calendar for the upcoming month. It has all the GST Compliance Due-dates for April 2021.

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GST Compliance Calendar – March 2021

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March – the month of transition from the ‘soothing winters’ to ‘muggy summers’ is here! 

March is the month when we dedicate a day to womanhood on the 8th every year by celebrating “International Women’s Day”. We wish all the women and men reading this a very Happy Women’s Day. It is all about equality.

February went by smoothly since the businesses are back on track and the GST collections are getting back to normal. It was a small yet an eventful month considering the Union Budget for the year 2021 was released. The government announced quite a few changes and additions like stringent controls on ITC claim to the extent available in GSTR 2A & 2B of recipient, scope of Zero-rated supplies curtailed, interest on delayed payments payable on net cash liability and so on. Read the full article to know all the updates: GST Proposals in Union Budget 2021.

The month also saw a few GST updates and changes, we have covered them all here: Top GST News of the Month – February 2021.

Coming back to March, the month also signifies the beginning of spring in most parts of India. Holi is one of the major festivals which will be celebrated on March 29. Along with Holi, Mahashivratri and Parsi New Year are other significant festivals that will be celebrated. After a low 2020, we hope everyone gets to enjoy their share of festivities this year. 

On the IRIS GST front, we have been working on our product, IRIS Peridot. A survey was conducted for collecting feedback on the app and the participants received Amazon gift vouchers for helping us improve the app even further. We are implementing all the suggestions and are gearing up to launch the 5.0 version soon! The 3.2 version of the app will be discontinued soon. So, if you are a user of the app, we would highly recommend you to upgrade in order to continue using all the amazing features. Here is the link to upgrade: https://bit.ly/2IFNdTN

There were a few new additions to the GST brigade. Here is a round-up of all the important resources we created for our readers:

• PMT-06: All you need to know about this GST Challan

• Aadhaar authentication under GST

• Invoice Furnishing Facility (IFF) under GST

We also created a few resources that give away details to solve the most asked questions by the taxpayers regarding e-invoicing. You can read them here:

• E-invoicing – Handling specific business scenarios

• Preparations to be done for GSTR1 – post e-invoicing

Now, let us look at the GST Compliance Calendar for March 2021, here is a comprehensive image of our GST Compliance Calendar for the upcoming month. It has all the GST Compliance Due-dates for March 2021.

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GST Compliance Calendar – February 2021

The phrase, ‘Time Flies’ is proving itself to be so true lately! The month of New Year resolutions, January, went by in a jiffy and the second month of 2021 is here already. Let’s gear up to welcome the shortest month of the year – February 2021.

January was a month to look back at the year passed. We have listed all the good things that kept the IRISGST team motivated; product launches, new features, and an exciting journey through the pandemic year – This is How we fared-in and coped-up with the year 2020!

Also, from January 2021 onwards, there were a dozen of GST changes that taxpayers had to take care of and implement into their businesses for a smooth ride. We have compiled and covered all the updates in the following articles so you can look into everything with ease.

• 7 Latest GST Updates You Need to Be Aware of
• Updates in E- Way Bill System from 2021
• Key GST Amendments from 1st January 2021 – Impact Analysis for Businesses

There are some more GST updates and news that floated in January, to read the same, click here: Top GST News of the month.

When it comes to festivities, January is all about celebrating newness with Makarsankanti, Pongal, Bihu, and also our Republic Day; people look forward to February for celebrating the day of love i.e. the Valentines’ Day which falls on the 14th of Feb each year. After restricting themselves from spending in January due to the splurge-fest in December, February again brings in a good time for businesses as people again get into the ‘spend mode’!

On the IRISGST front, we have successfully welcomed and helped an array of clients with generating IRNs and their complete e-invoice processes via our e-invoice solution – IRIS Onyx. You can read the reviews and testimonials of our clients on the page for an inside view.

Now, let us look at the GST Compliance Calendar for February 2021, here is a comprehensive image of our GST Compliance Calendar for the upcoming month. It has all the GST Compliance Due-dates for February 2021.

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GST Compliance Calendar – January 2021

The year 2021 is all set for a dramatic rise. We chose to use the word ‘dramatic’ because, the kind of chaos 2020 brought in with an unforeseen pandemic and the following financial crises not only in India but across the world, people have more or less given up on 2020 and are eagerly waiting for the rise of 2021! Hoping that the New Year brings in loads of happiness and prosperity to each one of us, let us look at what’s been up here at IRIS GST and on the GST front…

December was an interesting month overall with several major GST updates and notifications coming in every now and then. Changes have been announced in terms of GST compliance, the E-way Bill system, and also regarding the upcoming implementation of E-invoicing for Rs.100 Cr. turnover companies from 1st January 2021.

Read all the latest updates in the E-way Bill System here, and

To understand more about the Advisory issued by GSTN on Auto-population, read this blog: Auto-population of GSTR 3B from GSTR 1 and GSTR 2B.

To catch up with all the major GST updates and notifications, GST Collections, etc., released in the month of November, check our Top GST News – December 2020 blog to get all the information in one place.

At IRIS GST, we moved from Peridot 4.0 BETA to finally making it LIVE for everyone. IRIS Peridot 4.1 is way more than just a GSTIN Search. Now, it has some exceptional functionality that allows the user to Search GSTIN by Name & PAN, Scan E-invoice QR Code, Get a complete GST Return Summary, and lots more! You do not want to miss all the interesting features – check out the blog for all the details: IRIS Peridot

Also, our e-invoicing solution – IRIS Onyx has been serving clients successfully offering all the necessary facilities which are like the need of the hour! Onyx has truly made e-invoicing a smooth ride for all our clients. You can read more about it on our product page – IRIS Onyx.

Coming back to GST compliance, from January 1st, 2021 onwards, all the registered persons having aggregate turnover up to Rs 5 crores can choose to furnish their GST returns on a quarterly basis along with monthly payment of tax under the QRMP Scheme. This is according to the Central Board of Indirect Taxes (CBIC)’s GST Notification 82/2020, GST Notification 83/2020, GST Notification 84/2020, and GST Notification 85/2020 Central Tax dated 10-11-2020 and GST Circular 143/2020.

Also, an Invoice Furnishing Facility (IFF) has also been made available for quarterly filers of GSTR-1 to upload documents of their B2B outward supplies. On another note, auto-drafted returns such as form GSTR-2A and GSTR-2B will help taxpayers to claim their eligible input tax credit via their GSTR-3B.

Now, let us look at the GST Compliance Calendar for January 2021, here is a comprehensive image of our GST Compliance Calendar for the upcoming month. It has all the GST Compliance Due-dates for January 2021.

You can Download and pin it for your quick reference.

GST Compliance Calendar – December 2020

HO! HO! HO! December is here!

The month synonymous to holidays and winters throughout the world has arrived. 

It is a month of happiness, merry, and a lot of ‘sales’ for businesses across all spectrums!

November saw a lot of new updates and big changes on the GST front. It is an exciting time for businesses in India considering the new e-invoice reform has paved its way. The mandate which was implemented for businesses with a turnover of more than Rs. 500 Cr. from 1st October is soon going to cover companies with turnover more than Rs. 100 Cr. from 1st Jan 2021 as per the latest GST Notification 88/2020-Central Tax, date. 10-11-2020.

To catch up with all the major GST updates and notifications, GST Collections etc., released in the month of November, check our Top GST News – November 2020 blog to get all the information in one place.

Also, November was an exciting month for all of us at IRIS GST as we launched the 4.0 BETA version of our most loved product – IRIS Peridot!!

It now comes with all the enhanced features like Search GSTIN by Name & PAN, Scan E-invoice QR Code, Complete GST Return Summary, and lots more! You do not want to miss all the interesting features – check out the blog for all the details: IRIS Peridot 4.0 – GSTIN Search

Here is a round-up of all the important resources we created for our readers:

• QR Code: A New Identity for B2B transactions
• E-invoicing and QR Code for B2C transactions
• TCS under Finance Act & impact on E-invoicing
• Quarterly Returns and Monthly Payment Scheme
• Delinking – Debit and Credit Note

Now, let us look at the GST Compliance Calendar, here is a comprehensive image of our December Compliance Calendar. You can Download and pin it for your quick reference.

GST Compliance Calendar – November 2020

Say hello to the second last month of the year!

November, the month of the biggest festival of the country – Diwali, is here! People are on a spending spree and it is a good time for businesses to grow and flourish. Even during the COVID times, people wouldn’t mind indulging into a little bit of a splurge citing the ease to shop online. Also, an end to the prolonged lockdown will surely have a cascading effect.

The 42nd GST Council Meeting took place on the 5th of October and addressed quite a few issues and made new changes on the GST front. Decisions like simplifying filing returns for small businesses (Agg. turnover < 5cr.) by allowing them to only file their returns quarterly were applauded by one and all. Read the highlights of the meeting on our blog.

Also, there are some major updates and notifications that were released in the month of October. Check our Top GST News – October 2020 blog to get all the information at one place.

October was the month when finally E-invoicing went live for companies with annual turnover of over Rs. 500 cr. Sources reveal that E-invoice generation will also be made mandatory for companies with annual turnover of Rs. 100 cr. from January 2021 onwards and the sandbox testing has been made live already. Thus, to help taxpayers with understanding the new reform, we have created an array of resources including:

• E-invoicing and SEZ
• E-invoicing for E-commerce Operators
• What should a recipient of an e-invoice do?

Check our E-invoicing Blog page to get all the updates.

Now, let us look at the GST Compliance Calendar, here is a comprehensive image of our November Compliance Calendar. You can Download and pin it for your quick reference.

GST Compliance Calendar – October 2020

October – the last quarter of 2020 is here already!

While this year has seen a lot of roadblocks with a pandemic hitting the world followed by a lockdown and economic crises, it sure has kept our minds occupied and has made us solution-oriented.  

On the GST front, the e-invoicing implementation has finally seen the light of day and is set to roll from 1st October 2020 for companies with turnover Rs. 500 crores or more.

We have created an array of resources for our users for ease of understanding. Check out our E-invoicing Blog Page and find all the information at one place.

The upcoming GST Council Meeting is said to be scheduled on October 5, 2020. The trending matter of compensation cess to the states will be discussed. The council is expected to approve a two-year extension of compensation cess levy on goods and services to allow the Centre to pay the entire shortfall in GST tax collection by states. 

The GST collection for June stood at Rs 90,917 crore and the collection for July was at Rs 87,422 crore. In the month of August, the GST collection further dropped and stood at Rs 86,449 crore. From this aggregate amount, Rs 15,906 crore is CGST, Rs 21,064 crore is SGST, IGST of Rs 42,264 crore including Rs 19,179 crore collected on import of goods and a cess collection of Rs 7, 215 crores including Rs 673 crore collected on import of goods.

Recently, the government offered relief in late fees to Taxpayers filing Form GSTR 4 or GSTR 10 and change in the navigation of Comparison of liability declared and ITC claimed the report. There have been several new updates released in the past month. You can check them all on notifications and circulars page.

Prominent Indian festivals like Navratri and Dusshera fall in October. Just like Ganesh Chaturthi, pandaals and group gatherings will be prohibited citing the rising cases of COVID-19 throughout the country. People will have to celebrate keeping in mind the solemnity of the present scenario. 

Now, let us look at the GST Compliance Calendar for October, here is a comprehensive image of our October Compliance Calendar. You can download it and pin it for your quick reference.

GST Compliance Calendar – September 2020

The month marks the half-yearly closing and sees accountants glued to their systems working tirelessly to meet multiple due dates and filing deadlines.

In the Existing GST Return system, GSTR-2B is the new kid on the block which will streamline ITC Claims for businesses.

As E-Invoicing is soon to become mandatory, we have created a pool of information for easy assimilation :

• E-Invoicing Notifications
• E-Invoice Schema and Updates
• E-Invoice API Specifications and Updates
• All You need to know about E-Invoicing Under GST
• 7 Steps to E-Invoice Generation
• Areas to plan for Effective E-Invoicing Implementation
• E-Invoicing and E-Way Bill
• E-Invoicing and RCM
• E-Invoicing and B2C Transactions
• E-Invoicing in India
• E-Invoicing and ITC Claim

The GST collection for July stood at Rs 87,422 crore, which is a little lower than Rs 90,917 crore which was collected in June 2020. The 41st GST Council Meeting that took place on August 27, 2020, under the chairmanship of Finance Minister Nirmala Sitharaman discussed the revenue compensation to states.

Amidst all the financial crisis and government’s intervention, multiple lending institutions are trying to secure a good portfolio. This article on GST Data Based Lending – The Emerging Case for MSMEs Credit Appraisal can help such institutions to source one.

Here is a definitive guide for IDT teams of businesses across the country to cope with the constant updates and due date changes in the GST regime.

The last week of August saw celebrations of Ganesh Chaturthi which ends on 1st September 2020. Another important festival – Onam also has been celebrated in southern parts of the country on 31st, August which is known as the harvest festival. People have learnt the art of low-key celebrations citing the pandemic which is said to be the new normal.

Coming to the GST Compliance Calendar for September, here is a comprehensive image of our September Compliance Calendar:

GST Compliance Calendar – August 2020

August, the month of independence, the month of festivals!

The world is moving ahead amidst the pandemic and India, along with the entire world is eyeing for the COVID-19 vaccine which can help the world heal. Until then, businesses and citizens have to bear the brunt of the current situation be it of the health-care or the economy.

Amidst the pandemic, IRIS GST has been updating our readers about all the latest happenings and upgrades in the GST law via latest circulars and notifications.

The government has announced that it may not be bringing the new returns, but an advanced version of the current GST filing system will be introduced. The changes made will be for the ease of compliance for the taxpayers. From 1st Oct 2020, turnover limit for applicability of E-Invoicing is enhanced to Entities having turnover above 500 Crores (Earlier it was INR 100 Crores). The government has also added facilities like filing NIL GSTR 3B via SMS and NIL GSTR 1 via SMS for the convenience of the taxpayers.

As many companies are struggling for GST refunds, we have prepared an in-depth collection of articles on GST Refund forms:

• RFD-01 and RFD-01A – The Refund Application
• Form RFD 02 – Acknowledgement to RFD-01
• Form RFD 03 – The Deficiency Memo
• Form RFD 04 – Provisional Refund Order
• Form RFD 05 – Payment Advice
• Form RFD 06 – Final Refund Order

Two other forms for Composition taxpayers have been introduced recently – ITC-03 and Annual GSTR 4. ITC-03 is for the taxpayers who have opted for Composition Scheme and have to reverse their ITC for the credit availed. And, GSTR 4 – Annual Return is live now on GST Portal and can be filed by composition scheme holders.

Another great update from the government is that both the CBIC (Central Board of Indirect Taxes and Customs) and CBDT (Central Board of Direct Taxes) have signed a memorandum of understanding for data exchange. This memorandum facilitates the sharing of data and information between CBDT and CBIC on an automatic and regular basis.

The Madras High Court has ruled that the time limit for availing Transitional Input Tax Credit (ITC) is mandatory in nature, not directory. Hence, the time limit prescribed to avail it under Rule 117 must be followed in a mandatory nature.

In another Maharashtra AAR, it was suggested that the GST will not be applicable on Expat’s Salary if the Indian project office (PO) of an MNC is accounting for the salary of an expatriate employee which was required under Indian Accounting Standards

The GST Collection for the month of June has seen a rise as compared to April and May. As per the government data, the GST gross revenue for June was Rs 90,917 crore. For April it was Rs 32,294 crore and Rs 62,009 crore for May. However, the June collection has seen a decline of 9 per cent compared to the same month last year due to the lockdown situation. The GST collection figures for July are awaited.

Coming to the compliance due-dates for August, there are multiple actual and extended dates for taxpayers to take care of. Thus, we have created this calendar marking all the important dates and notes for ease of understanding. Please also read the additional information and notes below the calendar for a detailed overall compliance report.

Here is the Compliance Calendar for August:

Note:
CBIC has extended the benefit of late fees cap for all the categories of taxpayer irrespective of turnover limit for GSTR 3B via Notification 57/2020:

GST Compliance Calendar – July 2020

July – the month marks the onset of monsoon. While the country awaits first showers, unlock 2.0 has begun and economy is gearing back to normalcy.

It also marks the third anniversary of GST introduction in the country! These 3 years have been quite happening; we learnt and unlearnt many things where ITC maximization became the norm, and VAT, Service tax related processes became a passé.

To help businesses battle the pandemic, government is constantly taking measures:

1. The 40th GST Council Meeting took several important decisions on due dates and yet another meeting is expected in July.
2. Several notifications were issued in the June month with this regard, you may take note of the same here: Waiver of interest and late fee and extension of Due dates.
3. Additionally, government has released new forms like ITC-02A
4. And has also announced new measures for the MSME sector.
5. Facility to file Nil GSTR 1 via SMS and NIL GSTR 3B via SMS has also been introduced for taxpayers who are registered under Companies Act 2013.

As many companies are struggling for GST refunds, we have prepared an in depth collection of important articles on GST Refunds

1. The Process to file RFD-01 and RFD-01A
2. Form RFD 02
3. Form RFD 03
4. Steps to Track The GST Refund Application
5. Steps to lodge a complaint if your GST refund is not processed

Amidst so many changes in due dates, here is a summary of all the important dates for GST Compliance in the month of July

Key points to note

Note 1: As per notification no 52/2020 and notification 51/2020, late fees is waived, if filed within specified dates. Interest nil if filed within specified dates and @ 9% thereafter till 30th Sept 2020

Note 2: As per notification no 53/2020, late fees is waived, if filed within specified dates.

Note 3: For taxpayer having turnover above ₹5 Cr. no relief is provided for the months other than February, March and April 2020. Hence theses taxpayers have to file monthly GSTR 3B by 20th of following month

Note 4: For taxpayers having turnover below ₹5 Cr. relief in terms of late fees waiver and nil interest is provided for the months February 2020 to April 2020

Note 5: Benefit of late fees cap for all the categories of taxpayer irrespective of turnover  limit for GSTR 3B

Category 1

States: Chhattisgarh, Madhya Pradesh, Gujarat, Maharashtra, Karnataka, Goa, Kerala, Tamil Nadu, Telangana or Andhra Pradesh

Union territories: Daman and Diu and Dadra and Nagar Haveli, Puducherry, Andaman and Nicobar Islands and Lakshadweep

Category 2

States: Himachal Pradesh, Punjab, Uttarakhand, Haryana, Rajasthan, Uttar Pradesh, Bihar, Sikkim, Arunachal Pradesh, Nagaland, Manipur, Mizoram, Tripura, Meghalaya, Assam, West Bengal, Jharkhand or Odisha

Union territories: Jammu and Kashmir, Ladakh, Chandigarh and Delhi

Update on Other Compliances
Kindly note due dates of GSTR 5, 6, 7 and 8 for the month of June 2020 is extended to 31st August 2020
Also due date of ITC 04 for March 2020 and June 2020 quarter is extended to 31st August 2020
Due date of GSTR 9, 9A and 9C for FY 2018-19 is on 30th September 2020

You can also get all these GST and other updates in your Peridot App. Upgrade to Peridot 3.2 and stay updated.

GST Compliance Calendar – June 2020

June, the sixth month of the year 2020 is already here. Lockdown 5.0 has begun and it acts differently for different parts of the country. The states are dealing with the pandemic as per the COVID-19 situations in their areas.

There were many GST changes that were implemented after the decisions made in the 39th GST Council Meeting, held on March 14, 2020. The next GST Council meeting has been apparently scheduled on June 14th 2020 wherein several new decisions will be made and released. This will be the first after the outbreak of CoronaVirus in the country. In the lockdown, many relief measures and GST Updates were announced for businesses to stay afloat. Here is a list of all the GST Updates:

1. Lockdown 1: COVID 19 Relief measures introduced on 24th March 2020
2. Advisory for Composition Dealers amidst COVID 19
3. Form PMT 09 for transfer of E-Cash Ledger Balance
4. Clarification Issued by CBIC for GST Refund Issues
5. Lockdown 3.0: COVID 19 New Relief Measures issued in May
6. Updates in GST Dues dates amidst COVID 19 Lockdown

In this month, on the 21st, we also celebrate International Day of Yoga led by India for the world. Talking about health, a good part of it depends upon our immune system. We have covered several yogic asanas and pranayamas to build immunity and improve one’s fitness in our 21 days Positivity WFH Dossier. It also covers #EverythingGST and ‘Book wisdom’ for our readers.

The first showers are expected soon. However, along with the sense of joy and pleasantness, this time it also accompanies concern citing the outbreak of the pandemic and the possible cyclone Nisarga forecast for Maharashtra and Gujarat. We urge all our readers to keep health in check and help each other out in this time of global crises.

It wouldn’t be wrong to call June the month of Compliance Due Dates. Since the lockdown phase, several of the GST due dates were either pushed ahead to June or their interest and late fees were waived off until 30th June. Hence, many businesses will now have to file their GST Returns citing the compliance dates are near. As this month is quite crucial, we have covered all the important due dates in a downloadable infographic.
Here is the complete calendar with all the due dates for June.

GST Compliance Calendar – May 2020

May the Force be with You!

India is currently under Lockdown 3.0 which was extended on 3rd May and will continue until 17th of May citing the Corona Virus outbreak. 2020 has not just witnessed a medical pandemic with COVID-19 but also a financial pandemic as it is widely affecting businesses, the stock-market and even the GST Collection.

Here is a GSToon depicting current economic crises.

Just like April, the month of May will also see a decreased GST collection.

Do read the ‘New Announcements and Notifications amidst COVID 19’ that the government released in view of the pandemic. These measures have proven to be a big relief to the taxpayers, businesses, companies and even the transporters.

IRIS GST would like to make all our readers aware of the fraud websites and fake messages on GST Refunds with links asking for personal information citing the new updates regarding GST amidst COVID-19. Please do not click any link on your WhatsApp or social media promising a refund. Visit gst.gov.in or irisgst.com for authentic GST updates.

Another big challenge that the country is facing right now is of expired E-Way Bills. So to combat the issue, Government has extended the validity of E-way bills generated on or before 24th March 2020 with expiry between 20th March- 15th April until 31st May 2020, according to Notification No. 40/2020-Central Tax.

The GST Compensation to the states has been delayed due to the lack of funds at the centre. The funds can serve as a big relief to the states to cover the losses due to the lockdown scenario.

The income tax department recently announced that businesses need not include their GST (Goods and Service Tax) and GAAR (General Anti-Avoidance Rules) Report in the income tax audit until 31st March 2021.

The month of May will see commemorative days like Mother’s Day, Technology Day and Sorry Day along with festivals like Buddha Purnima and EID AL FITR that we must celebrate staying indoors.

If you haven’t seen our #WorkFromHome initiative for the lockdown, please check it out here: #WFH Positivity Dossier wherein we share #EverythingGSTin21Days along with that we also share a yoga posture and wisdom from best self-help/business books to relieve the stress and anxiety which is natural to come up during this time.

In the May 2020 GST Compliance Calendar, we have added upcoming specified due dates for GST Returns along with Income Tax Returns. The additional information regarding these returns has been mentioned below in utmost detail for your easy reference.

Here’s our Compliance Calendar for May 2020:

• Below are timelines without late fees and interest waiver

• For taxpayers having turnover above 5 crores ,below are timelines without late fees waiver and interest benefit.
  • Due date is 20th May
  • Interest benefit is due date +15 days of grace period post which 9% interest rate will be applicable, so due date becomes 20th May + 15 days

Income Tax:

• The CBDT vide the Taxation and Other Laws (Relaxation of Certain Provisions) Ordinance, 2020 dated 31-03-2020 has extended all respective due dates, falling during the period from 20-03-2020 to 29-06-2020, till June 30, 2020.
• The benefit of the extended due date shall not be available in respect of payment of tax. However, any delay in payment of tax which is due for payment from 20-03-2020 to 29-06-2020 shall attract interest at the lower rate of 0.75% for every month or part thereof if the same is paid after the due date but on or before 30-06-2020.

Dates for below compliance is extended from May filings till 30th June, 2020

15 May 2020

• Due date for issue of TDS Certificate for tax deducted under section 194-IA, 194-IB and 194M in the month of March, 2020
• Due date for furnishing of Form 24G by an office of the Government where TDS/TCS for the month of April, 2020 has been paid without the production of a challan*
• Quarterly statement of TCS deposited for the quarter ending March 31, 2020
• Due date for furnishing statement in Form no. 3BB by a stock exchange in respect of transactions in which client codes been modified after registering in the system for the month of April, 2020*

30 May 2020

• Submission of a statement (in Form No. 49C) by non-resident having a liaison office in India for the financial year 2019-20

31 May 2020

• Quarterly statement of TDS deposited for the quarter ending March 31, 2020
• Return of tax deduction from contributions paid by the trustees of an approved superannuation fund
• Due date for furnishing of statement of financial transaction (in Form No. 61A) as required to be furnished under sub-section (1) of section 285BA of the Act respect of the financial year 2019-20*
• Due date for e-filing of annual statement of reportable accounts as required to be furnished under section 285BA(1)(k) (in Form No. 61B) for calendar year 2019 by reporting financial institutions

GST Compliance Calendar – April 2020

The fourth month of 2020 – April has arrived and ideally, it is touted as the start of the new financial year.

However, unlike every year, April isn’t as valued as before citing the insane Corona Virus outbreak not just in the country but globally! It is a world-wide pandemic situation and the world is fighting against the crisis with all its might.

The Indian government has taken a huge step to combat the situation with a 21-day lockdown which was announced from 25^th of March and is set to get over by April 14. However, all the state and even the central government have been stating that the lockdown may either extend or even if it gets lifted, the restrictions will remain on movement in order to control the spread of the virus.

On the GST front, the government had seen a sharp drop in the collections in March and it will continue further in April considering the lockdown condition. Our finance ministry has taken some relief measures for MSMEs, businesses and companies along with transporters.

To tackle the economic impact of COVID-19, the government has announced several extension of due dates of GST Returns for the month of March, April and May 2020. Most of the filing dates have been pushed to June 30. The date for opting for composition scheme has also been extended to June 30, 2020. You can read the New Announcements here

A recent news update states that the finance ministry is set to release Rs 20,000 crore in pending goods and service tax (GST) compensation to all the states soon. It is not taken from the compensation cess but from the Consolidated Fund of India, a report from Economic Times confirmed.

The government has also extended the validity of all the e-way bills till April 30, which were customary to expire between March 20 and April 15. Indeed a big relief to the industry facing issues of supplies and goods stuck in transit amidst the nationwide lockdown due to Corona.

On the IRIS GST front, our team members are working from home diligently and are available to help our clients with the regular GST and E-way Bill operations among any other assistance.

To keep ‘up the positivity’ during this global pandemic situation, IRIS GST has started an initiative named #WFH Positivity Dossier wherein we share #EverythingGSTin21Days along with that we also share a yoga posture every day to relieve the stress and anxiety which is natural to come up during this time. Plus as an added bonus, we also share wisdom from best self-help and business books in pointers like quick bites! Subscribe for your daily dose here!

Hope this initiative serves you well!

Stay home, follow social distancing, and stay safe!

Here is the compliance calendar for April 2020:

GST Compliance Calendar -March 2020

February went by in a jiffy and March is already here!

The third month of 2020 has already arrived. Are you keeping up with your personal goals or the hectic lifestyle has managed to overpower you? If it’s the latter, it is never too late to start over again!

IRIS GST is soon releasing the IRIS Onyx – a complete E-Invoicing solution for the taxpayers in India!

On the GST front, we are back to notify you with all the latest happenings and news updates. The due date to submit TRAN-01 for carrying forward the transitional credit has been extended to 31st March 2020. So, if you could not file earlier due to technical glitches, no worries, you still have a few good days left do the needful.

Also, did you know? From March 1 onward, a 28% Goods and Service Tax i.e. GST will be levied on all the lotteries. It has been imposed on all the state-run and authorised lotteries!

March is the month when we dedicate a day to womanhood on the 8^th every year by celebrating “International Women’s Day”. We wish all the women and men reading this a very Happy Women’s Day. It is all about equality.

We also extend our warm wishes for the festival of colours, Holi! Have a happy and a safe one!!

As we end this post, let us also remind you about the World Consumer Rights’ Day which is falling on the 15th of March. We are pleased to inform all our consumers about our Free App – IRIS Peridot  which helps you to verify the correctness of a GSTIN by validating it with the GST system.

Here is the GST Compliance Calendar March 2020 for your reference which has all the GST Due Dates for March:

GST Compliance Calendar -February 2020

The month of February is here, the cute little month of 29 days (Yes, it is the leap year) with 5  weekends.

Starting this month, companies with an aggregate turnover of Rs. 100 crores or more will be able to opt-in for e-Invoicing in India, voluntarily.

Also, in order to optimize the filing process, the CBIC, in a historic move, has staggered GSTR 3B filing based on taxpayer’s aggregate turnover and place of business. Similarly, on account of technical difficulties faced by the Annual return filers, the GSTR 9 and GSTR 9C has been staggered into 3 groups, to be filed between 3-7 February 2020.

Furthermore, the Union Finance Minister of India, Smt. Nirmala Sitharaman presented the union budget for the fiscal year 2020-21 on February 1, 2020.

In other news, 3 cases of Corona Virus have been confirmed in Kerala, while 2000 people have been moved in quarantine facilities. We urge you to wear masks and take necessary precautions to safeguard yourself from the epidemic.

For the rest, here is the compliance calendar for the month of February 2020:

GST Compliance Calendar -January 2020

IRIS GST wishes you a very happy and prosperous 2020.

It’s time to welcome not only the new year, but also the most awaited updates in the GST arena such as eInvoicing under GST, New GST returns, etc.And probably bid farewell to GSTR 9/9A and GSTR 9C for the FY 2017-18.

The due date to file your Annual Return form GSTR 9/9A and Reconciliation statement GSTR 9C is January 31 st , 2020.
Also, the eInvoicing system is now available (on a voluntary basis) for taxpayers with an aggregate turnover of ₹ 500 CR or more.

Furthermore, to help you keep up with your business resolutions and goals, IRIS GST shall soon be launching

• IRIS Easy Way Bill – a GST ready app tailor-made for the transporters
• IRIS Onyx – a complete e-Invoicing solution for taxpayers in India

Inter-alia, the month of January is filled with festivities like Lohri, Pongal, Makar Sakranti, Vasant Panchami, etc. and of course the Republic Day.

IRIS GST puts forth warm wishes for the same.
For the rest, here is the compliance calendar for the month of January 2020:

GST Compliance Calendar -December 2019

It is the month of December, already!

While we wait eagerly for yet another year-end, and welcome the year 2020, here are the key highlights for the month of December 2019.

• The annual return forms GSTR 9 and GSTR 9C have been extended yet again, the new filing date for furnishing these forms are 31 December, 2019 for the FY 17-18 and 31^st March, 2020 for the FY 18-19.
• Furthermore, forms GSTR 9 and GSTR 9C have been simplified to help taxpayers file their returns without any strife.
• E-invoicing system will be introduced on a trial basis from January 1, 2020 for businesses with a turnover exceeding Rs. 500 crores.
• The last date to incorporate FAStag for toll payment has been extended to December 15, 2019. After the given date, driver may have to pay double toll charges, in absence of proper FAStag.

Also, the month of December brings the festival of Christmas, and we wish your Secret Santa knows what exactly you are looking for. Also, we wish you a very Merry Christmas.

For the rest, here is the compliance calendar for the month of December:

GST Compliance Calendar -November 2019

With just one month to go for the year to end, we welcome the month of November.

Among the key highlights from the month of October, GST has released v0.3 of its New GSTR offline tool on a trial basis to help taxpayers familiarise with the functionalities of the tool. And in an attempt to control tax leakage, government has amended the rule 36 for ITC Claim via GST Circular 123/42/2019 . With the insertion of sub-rule (4) in Rule 36, the taxpayer’s ITC shall be capped at 20% if the details of the claimed ITC has not been uploaded by the supplier in their GSTR 1 (Eventually reflected in taxpayer’s GSTR 2A). This, on the contrary has left taxpayers in chaos.

Furthermore, hit by a major economic slowdown, major players in the auto sector saw a massive decline in their sales ranging from 2% to 37% (varying for companies), as compared to their sales in the festive season of Diwali last year.

On the sadder note, the capital city of India is struggling with dreadful pollution that has brought the whole city on hold. With the air quality deteriorated to hazardous levels in Delhi, the odd-even rule has been issued. While Delhi’s Health Minister Satyendar Jain has advised the city’s residents to avoid outdoor physical activities, especially during morning and late evening hours.

In other news, India’s beloved DADA, Sourav Ganguly, has now donned the mantle of BCCI president, and we can’t just keep our calm.

For the rest, here is the compliance calendar for the month of November:

GST Compliance Calendar -October 2019

October, the month of festivals is here, with festivities like Navratri, Dusshera and Diwali soon to come, we pray you be blessed with peace and prosperity for all your endeavors.

Furthermore, the month of October brings about the new GST rate revisions as per the decisions taken in the 37^th GST Council Meeting in to action.

The GSTN portal has shifted to online GST refund process, providing seamless refund process and communication between the taxpayer and tax officer. The GSTN portal has also resolved few major issues faced by taxpayers while filings their returns.

For the rest, here is the compliance calendar for the month of October:

GST Compliance Calendar -September 2019

I just blinked an eye, and we are here in the month of half-yearly closing!

September; the month we all have been preparing for, since past many days, and the anxiety will not fade until it is over. With numbers churning, business pressure building and deadlines approaching, this is the second-most important event in an accountant’s life. And Bappa is here with the blessings!

While the new month brings new possibilities, many of us will not forget the 2 big losses of last month: Smt. Sushma Swaraj and Shri Arun Jaitley, both will be remembered for their exceptional work. We pay homage to both of them.

Looking forward to the 37th GST Council Meeting to be held on 20th September, big decisions awaited around rate cute in auto sector and addressing the issues of GST refunds.

We bring to you the September 2019 GST Compliance Calendar, however for taxpayers in Jammu and Kashmir and 58 flood affected districts across 7 states, the due dates for few forms have been extended:

September 20, 2019: Taxpayers in Jammu and Kashmir and 58 flood affected districts across 7 states, having turnover of more than Rs. 1.50 crores or opted to file monthly Return GSTR 1 for July 2019

September 20, 2019: Input Service Distributor registered in Jammu and Kashmir and 58 flood affected districts across 7 states for Form GSTR 6 for August 2019, GSTR 3B for July 2019, Gstr 7 for July 2019

For the rest, here is the September 2019 GST compliance Calendar:

GST Compliance Calendar -August 2019

Here comes the august August!

With Independence Day, Rakshabandhan and Janmashtami round the corner, indeed the month is august!

Amidst the social cacophony of charging GST of Rs. 442 for 2 bananas, there was some real work happening behind the scenes. GSTN released offline tool of new GST return two days back on July 30th.

From today, Kerala flood cess also comes in force.

The GST collection for the month of July has gone over Rs 1 trillion despite subdued CGST and SGST. With so much happening in and around, we are here to keep you on track for your GST filing.

Presenting the August 2019 GST Compliance Calendar for all those who are spending tiring days in preparing the GST reconciliation results and GSTR 9 for a timely filing.

Print. Pin. and Rest assured, you will not miss any deadline.

GST Compliance Calendar -July 2019

With the July month, we are standing at the completion of 2 years of GST.

GST day, July 1, marks the successful completion of a tax regime as humongous as GST. While the last month saw few extensions, major of which was the GSTR 9 extension. From this month, we are looking forward to the more simplified New Returns to replace the current one soon.

The rain gods are in their best mode with no immediate relief for sunny days!

The GSTN is fighting the battle of addressing industry concerns over high tax rates, states complaining of reduced GST revenues and numerous GST evasion cases identifying across the country.

We on the other hand are fine-tuning our processes and product to give you a more seamless GST return filing experience. With this, let me bring to you the July 2019 GST Filing calendar.

Print the calendar and post it on your work desks for a  good reminder on filing days.

GST Compliance Calendar -June 2019

June is upon us!

While we sail through this ‘median’ month of the year oscillating between the scorching heat and the promise of first rains, the GST taxpayers are busy preparing the monthly returns and reconciling for the big day: 30th June 2019 – the GSTR 9, GST annual return filing day. For the remaining, this day would be the World Cup Final!

And with the government issuing notification on no extension on GSTR 9 filing due date, the month becomes all the more crucial.

We bring to you the June GST Compliance Calendar to help you mark the big days in advance and prepare accordingly.

Print the calendar and stick on your walls as the D day is approaching!

GST Compliance Calendar – May 2019

May the Force be with You!

With vacations around the corner, elections and IPL grabbing the entire attention and heat rising in the atmosphere, the GST taxpayers have yet again started with the GST filing preparation. They will be heads down getting ready to meet the filing deadlines of the month and preparing for the annual filing and reconciliation as well.

To help colleagues inside and outside the accounting, finance and compliance departments keep track of deadlines, check out the May 2019 GST Compliance calendar from IRISGST.

The calendar lists due dates for GSTR 1, GSTR 7, GSTR 8 and GSTR 3B. Print your own May 2019 GST Compliance Calendar to highlight dates you are watching.