This is to remind that the following statutory obligations have to be complied by our group companies/ individuals to the extent as applicable:
- 31.10.2020 is the due date to file Tax Audit Report in case of Tax Audit Assessees for Financial year 2019-20.
- 30.11.2020 is the due date to file Income Tax Return in case of all assesses for FY 2019-20.
- TCS on Goods Sold u/s 206C (1H) w.e.f 1st October 2020: Applicable if Turnover is more than 10 Crore last year. Seller to Collect TCS from Buyer on Sales exceeding Rs. 50 Lakhs in year. Sale of Goods covered only. No TCS on Sale of Services.
TCS Rate 0.1% (0.075% till 31.03.2021) on Sales after crossing 50 Lakh means No TCS on First 50 Lakh. TCS to be deposited on receipt basis i.e. after payment received from buyer. No TCS in case of Exports, Sales to Governments, Local Authority. TCS Rate will be 1% if buyer don’t provide PAN or Aadhar.
- TDS for the Month of September-2020 to be deposited on or before
- Due date for filing the TDS Return for Period 01.07.2020 to 30.09.2020 is 31.10.2020.
- Due date for filing GSTR-3B for the month of September-2020 is as follows:-
- If Annual Turnover is Rs. 5 Cr. Or more in Previous Financial Year – 20.10.2020
- If Annual Turnover is upto Rs. 5 Cr. in Previous Financial Year and Registered in Madhya Pradesh, Maharashtra, Karnataka and Telangana – 22.10.2020
- If Annual Turnover is upto Rs. 5 Cr. in Previous Financial Year and Registered in Haryana. Delhi, Rajasthan and Uttar Pradesh – 24.10.2020.
- Due date for filing Quarterly GSTR-1 for the Quarter 01.07.2020 to 30.09.2020 is 31.10.2020.
- The annual return of GST for the period 01.04.2018 to 31.03.2019 is required to be filed along with statutory GST audit report, if Turnover for the period 01.04.2018 to 31.03.2019 is Rs. 5 Crore or more, till 31.10.2020.
- The annual return of GST for the period 01.04.2018 to 31.03.2019 is required to be filed if Turnover for the period 01.04.2018 to 31.03.2019 is Rs. 2 Crore or more, till 31.10.2020.
- Due Date of GST Return of September,2020 is the last date for:
- Availing ITC in respect of invoices pertaining to FY 2019-20
- Issuing Debit/Credit Notes relating to any invoices pertaining to FY 2019-20.
- Amendment of any invoice, Debit/Credit Note pertaining to FY 2019-20.
ESI / PF
- 15.10.2020 is due date for payment of Provident Fund Contribution for the month of September 2020. (Deductions will revert to old rates i.e. 12% EPF for each employer and employee.
- 15.10.2020 is due date for payment of ESI Contribution for the month of September 2020.
Kila & Co.