Jul 242019
 

The Central Board of Direct Taxes (CBDT) vide its Order u/s. 119 of the Income-tax Act,1961 , dated 23rd July 2019 has extended the due date for filing the Income-tax returns in respect of all taxpayers who are liable to file Income tax returns. The extended due date is 31st Aug 2019 (earlier due date was 31st July 2019).

The relevant order is provided below

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Source :- www.incometaxindiaefiling.gov.in

 

 

Jul 192019
 

The Composition dealers are required to comply with Payment of Tax & File yearly return from the year 2019-20 onwards. (As per notification 21/2019 -Central Tax – dtd 23rd April 2019)

The above said payment shall be made by Composition dealers through form CMP-08 on or before 18th July 2019 (For quarter Apr 19 to Jun 19)

The GST portal has not enabled the form CMP-08 yet for composition dealers.

In view of the above, the last date for the payment of tax for the Quarter Apr 19 to Jun 2019 , in CMP-08 , has been extended till 31st July 2019.

The notification to this effect is provided below

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Jul 032019
 

The Government of India has released a publication containing various provisions and benefits provided under GST regime to MSME sector.

The same can be downloaded in the below link :-

 

 

Download (PDF, Unknown)

 

Source :- www.cbic.gov.in

 

Jun 082019
 
Feb 062019
 

GST Set off rules changed w.e.f. 01st Feb 2019

The GST Amendment Act has been made applicable w.e.f. 1st Feb 2019. One of the important changes in the GST Amendments is that the manner of set off of Input Tax credit.

 

Before amendment, the GST was Set off as under :-

 

Towards Payment of First Setoff toThen Setoff to
SGSTSGSTIGST
CGSTCGSTIGST
IGSTIGSTCGST/SGST

 

As per the new rules as applicable from 1st Feb 2019, the following will be new set off procedure :-

 

Towards Payment of First Setoff toThen Setoff to
SGSTIGSTSGST
CGSTIGSTCGST
IGSTIGSTCGST/SGST
Aug 112018
 

As you are aware, as per Section 9(4) of the CGST Act, GST is payable under Reverse Charge basis in respect of inward supplies from unregistered suppliers.  This was deferred by notification till 30th of September 2018 earlier. Now another notification has been issued to defer the same till 30th September 2019. In view of the above,no GST under reverse charge basis is payable in respect of inward supplies , as per section 9 (4) .

Kindly note that Reverse charge on Freight Payments (Goods Transport Agency) , Advocate fees, Sitting fees to Directors , which are covered under Section 9(3) are not exempted and GST on these payments shall continue to be paid under Reverse Charge.

The relevant notification is reproduced below :-

Aug 112018
 

As per the latest Notification No 34/2018-Central Tax, the filing of Monthly Summary Return in GSTR 3B shall continue till the month of March 2019 and in view of the same, tax payment shall also be paid while filing the GSTR – 3B . The last date for filing the GSTR-3B is 20th of the succeeding month.

The relevant Notification is reproduced below :-

Aug 102018
 

The CBIC has announced the due dates for filing GSTR-1 returns till the month of March 2019.

As per Notification No 33/2018-Central Tax, the due dates for filing GSTR-1 returns in respect of taxpayers with less than 1.50 crores turnover is as follows :-

Sl NoQuarter for which details in For GSTR 1 are furnishedTime period for furnishing details in Form GSTR-1
1Jul-September 201831st October 2018
2October-December 201831st January 2019
3January-March 201930th April 2019

As per Notification No 32/2018-Central Tax , the due dates for filing GSTR-1 returns in respect of tax payers with more than 1.50 Crores turnover is as follows :-

GSTR for the month ofDue date
July 201811th Aug 2018
Aug 201811th Sep 2018
Sep 201811th Oct 2018
Oct 201811th Nov 2018
Nov 201811th Dec 2018
Dec 201811th Jan 2019
Jan 201911th Feb 2019
Feb 201911th Mar 2019
Mar 201911th Apr 2019

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Jul 042018
 

The following are the various statutory obligations for the month of July 2018

ActObligationDue Date
Income-tax (TDS)Due date for deposit of Tax deducted at Source (TDS) for the month of June 20187th Jul 2018
GSTMonthly GSTR 1 return of outward supplies for the month of Jun 2018 (For T/o above 1.5 crores)10th July 2018
PFDue date for monthly payment of Provident Fund for the month of June 201815th July 2018
ESIDue date for monthly payment of ESI for the month of June 201815th Jul 2018
GSTQuarterly GSTR 4 return filing for the quarter Apr-Jun 2018 for Compounding dealers18th July 2018
GSTMonthly GSTR 3B return filing for the month of June 201820th July 2018
GSTQuarterly GSTR 1 return of outward supplies for the quarter Apr- Jun 2018 (For T/o below 1.5 crores)31st Jul 2018
Income-taxDue date for filing Return of Income for the year 2017-18 in respect of Non Audit cases, Salaried employees and Business with Turnover less than 1 crore31st July 2018
Income-tax (TDS)Quarterly TDS return filing for the Quarter Apr-Jun 2018 (in respect of salary payment and Non salary Payments)31st July 2018

Jun 022018
 

The following are the statutory obligations for the month of June 2018

ActComplianceDue Date
GSTGSTR 1 - Return filing for the month of May 201810th June 2018
GSTGSTR 3B - Return filing for the month of May 201820th June 2018
GSTGST Tran 230th June 2018
Income-taxDue date for Deposit of Tax Deducted at Source (TDS) for the month of May 20187th June 2018
Income-taxDownload & Issue of TDS Certificates for the quarter ended 31st Mar 201815th June 2018
Income-tax Advance tax 1st Instalment15th June 2018
Income-taxLinking of Aadhaar with PAN30th June 2018
Registrar of CompaniesFiling of Annual Returns & Balance sheet (After this due date, the penalty will be Rs. 100 per day of default)30th June 2018
EPFMonthly contribution for the month of May 201815th June 2018
ESIMonthly contribution for the month of May 201815th June 2018


B S Sridhar & Co., Contact us @ 91-44-45540180 / 91-90804 33131. 

For Quick Response email :- sridharca@gmail.com

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