GST

The deadline for filing GST returns extended to 28th February 2021

GST Registration For OPC in India

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  Posted on January 27, 2021

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The deadline for filing GST returns extended to 28th February 2021

The GST returns should be filed by individuals who are registered under GST every month if their annual aggregate turnover exceeds Rs 1.5 crore during the financial year and it can be filed in forms GSTR-1 and GSTR-3B. And the rest of the taxpayers can go for a quarterly GSTR-1 filing while filing GSTR-3B monthly, until December 2020.

From the quarter of 1st January 2021, the taxpayers whose annual turnover exceeding Rs.5 crore may choose the QRMP scheme through which they can file both GSTR-3B and GSTR-1 once in a quarter, while continue making monthly calculated tax payment. 

Till FY 2018-19, an individual registered under composition scheme have to file form GTSR-4 – a quarterly return and form GSTR-9A – an annual return. An individual registered under the composition scheme must file a new version of GSTR-4 every year and must pay tax once in a quarter in form CMP-08 giving basic details by 30th April for FY 2019-20 onwards. 

Under GST, Special transactions have been determined with specific GST returns such as GSTR-8, GSTR-7, GSTR-6, GSTR-5A, and GSTR-5. 


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Latest Information on GST Returns Due Date Extensions

Following are section provides updates on the latest notifications and news for due date extensions on various GST returns and filings:

Updated information as on 30th December of 2020

For filing GSTR-9 & GSTR-9C for Financial Year 2019-20, the due date has been extended to 28th of February month 2021.

Update information as on 10th November of 2020

(1) The due date for filing ITC-04 for the periods of July to September 2020 is extended to 30th November 2020.

(2) The due date for filing GSTR-1 for the periods of October 2020 to March 2021 has been declared as follows:

Quarterly return filers:

13th January 2020 – October 2020 to December 2020: 

13th April 2021 – January 2020 to March 2021

Monthly return filer:

 Month Due Date
October month of 2020 11th of November 2020
November month of 2020 11th of December 2020
December month of 2020 11th of January 2021
January month of 2020 11th of February 2021
February month of 2020 11th of March 2021
March month of 2020 11th of April 2021

(3) The due dates for filing GST and GSTR-3B form have been announced for the months October 2020 till March 2021 as given below:

Annual Turnover of Previous Financial Year GST Registration in States and Union Territories Latest Due Dates
Equal or more than Rs 5 crore All 20th of the following month
Less than Rs 5 crore Chhattisgarh, Gujarat, Madhya Pradesh,  Karnataka, Goa, Dadra and Nagar Haveli and Daman and Diu, Puducherry, Andaman and Nicobar Islands,  Maharashtra, Lakshadweep, Kerala, Tamil Nadu, Telangana and Andhra Pradesh 22nd of the following month*
Less than Rs 5 crore Jammu and Kashmir, Ladakh, Himachal Pradesh, Delhi, Rajasthan, Punjab, Chandigarh, Tripura, Meghalaya, Uttarakhand, Haryana, Manipur, West Bengal, Jharkhand, Mizoram, Uttar Pradesh, Bihar, Sikkim, Arunachal Pradesh, Nagaland, Assam and Odisha 24th of the following month*

The individuals who opt under the QRMP scheme must file by 22nd or 24th of the month following the quarter. Further, for the first two months of the quarter, tax payments shall be done every month in PMT-06 by 25th of succeeding month.

Update as of 28th October of 2020

The due date for filing GSTR-9 & GSTR-9C for the Financial Year 2018-19 has been extended to 31st December 2020.

Update as of 15th October of 2020

The CBIC has apprised that the due date for filing of GSTR-9 will be made optional for small taxpayers whose turnover exceeds up to Rs.2 crore for Financial Year 2019-20.

Update as of 30th September of 2020

The due date for filing GSTR-9C and GSTR-9 for the Financial Year 2018-19 has been extended to 31st October 2020.

Update as of 31st August of 2020

The due date to file GSTR-4 for Financial Year 2019-20 is extended further to 31st October 2020.


*Below is Old Update News*

Finance Minister announces several economic relief measures due to the outbreak of COVID-19

To provide an easement to businesses dealing with the economic impact of Covid 19, on Tuesday the government said that it is extending the filing dates of Return for the month of March, April and May 2020 and composition returns under GST to June 30.

Addressing the Media, Finance Minister Nirmala Sitharaman added that lurched filing will apply. “While I announce 30th June as the date, specific regions will have dates like 27, 29 or 30th.

The deadline for filing GST returns for the month March, April and May has been extended to June 30. Early, the last date for filing of GST returns was March 31, 2020. Hence, The last date for composition returns on GST has been also been extended to June 30, 2020, from  March 31, 2020, announced by Finance Minister Nirmala Sitharaman on Tuesday. On March 24, the government announced that the extension of the deadline for filing GSTR-3B for Goods and Services Tax (GST) for March, April and May to June 30.

“Others can file returns due in March, April and May 2020 by last week of June 2020 but the same would attract a reduced rate of interest at 9 per cent per annum from 15 days after the due date (current interest rate is 18 % per annum),” Nirmala Sitharaman said.

During the address to the media, the Finance Minister made these announcements besides the important announcements on measures to tackle the economic impact of coronavirus. Additionally, she added that no different stupefying dates will be followed while filing GST returns for March, April and May.

Addressing the media through video conference, Nirmala Sitharaman announced that companies having turnover less than Rs 5 crore won’t be charged penalty or interest for the late filing of GST. Whereas bigger companies having turnover more than Rs.5 crore will have to pay the interest amount of about 9 per cent for delayed filing of GST, but no penalty or late fee will be levied.  “On the late filing of GST returns, no late fee, penalty or interest will be charged for companies with turnover of up to Rs 5 crore,”. On adding details, she said there is no late fee and penalty will be charged on GST return filed by 15 days for the companies with over Rs 5 crore turnover.

The deadline for opting for the compensation scheme has been extended to June 30, 2020.

The Finance Minister has also announced that the last date for filing income tax returns for Financial Year 2018-2019 has been extended to June 31, 2020. And the deadline for Aadhar-PAN linking has also been extended to June 30. The interest levied on delayed deposits of TDS has been reduced to 9 per cent from 12 per cent and will be charged till June 2020.

In her address to the media, the FM also added that the customs clearance has been made as a mandatory service, so it will continue to operate 24/7 till June 30, 2020. Vivad se Vishwas tax dispute resolution scheme has been extended for the next three months that is to June. Individuals who are willing to use the scheme not have to pay any additional charges of about 10 per cent.

As per the FMs announcements, debit cardholders can withdraw money from any bank ATM without any fee, and the minimum balance maintenance charges have also been moved out from all bank accounts for the next three months. “Debit cardholders who withdraw cash from any other bank ATM can do it free of charge for the next three months, no minimum balance maintenance fee will be charged by the banks,” Ms Sitharaman said.

In addition,  if the current economic situation continues beyond April, the government will consider suspending Sections 7, 9, 10 of the Insolvency and Bankruptcy Code (IBC) for next six months, she said, adding this would help small and medium companies being forced into insolvency on default of loans.

Experts Opinion on the Above Announcements

MS Mani, Partner, Deloitte India says, “The extension of GST return filing timelines together with the deferment of e-invoicing and new returns announced earlier would allow businesses to focus on resumption of business processes once normalcy resumes in future, “ He further added that the waiver of interest, penalties and late fees for SME’s would be helpful for the business owners to focus on reviving their businesses after things gets normal again.

The announcements on extended dates are likely to give some relief. “Some key filing and payment relaxations that should bring rejoice to the industry. One hopes this is the first tranche and there are other tranches to follow, wherein benefits like GST rate reductions, exemption from import duties, reduced compliances etc. are announced,” said Harpreet Singh, Partner, KPMG India.

The Government has also determined that the last date for issue of notice,  approval order, notification, sanction order, furnishing of return,  filing of the appeal, statements, reports,  applications, any other documents, the time limit for any compliance under the GST laws where the due date is expiring between 20th March 2020 to 29th June 2020 will be prolonged to 30th June 2020.

Rajat Bose, Partner, Shardul Amarchand Mangaldas & Co says “It is heartening to see that the government is looking after the interests of small businesses by waiving off interest, penalty and late fee. The government should also consider exempting essential commodities from GST as a temporary measure to ensure that basic necessities are available at reasonable prices during this time,”. According to him, the current situation has given some degree of disruption in many businesses, the extension of the due date for filing of GST returns is a much-needed relief for the business industry.


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