Sanddiph Reddy & Associates

15/07/2022

08/06/2022

Income tax Return due date FY 2021-2022

05/06/2022

Income tax due date for FY 2021-2022

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05/06/2022

DUE DATE:TDS/TCS payment for May ,2022

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17/09/2021

Highlights of Today's GST Meet outcomes:

1. GST Rate on Covid-19 treatment drugs reduced till 31st December 2021

2. Registered person shall not be allowed to furnish FORM GSTR-1, if he has not furnished the return in FORM GSTR-3B for the preceding month

3. Late fee for delayed filing of FORM GSTR-1 to be auto-populated and collected in next open return in FORM GSTR-3B.

4. Supply of menthil oil from URD brought under RCM

5. Brick manufacturers under composition to pay tax @ 6% instead of 1% as of now and threshold limit is 20 lakhs.

6. E Com Operators has to pay tax on food supplies made through them with some exception.Services by cloud kitchens/central kitchens are covered under ‘restaurant service’, and attract 5% GST [ without ITC].

7. Interest is to be paid by a taxpayer on “ineligible ITC availed and utilized” and not on “ineligible ITC availed”.

8. Unutilized balance in CGST and IGST cash ledger may be allowed to be transferred between distinct persons (entities having same PAN but registered in different states), without going through the refund procedure, subject to certain safeguards.

9. Provisions to be incorporated for solving ambiguity regarding Refund of Tax wrongly collected & paid under GST (IGST in place of CGST & SGST)

10. No decision on bringing petroleum products under ambit of GST.

11. Relaxation given for filing Form ITC-04.

12. Aadhar authentication mandatory for Refund claim and revocation of cancellation of registration.

24/10/2020

🌹*DUE DATE* *EXTENSION UPDATE*

✏ GSTR 9, 9C date for FY 2018-19 extended to 31st December, 2020

✏ ITR Filing Date for entities subject to Tax Audit for AY 2020-21 extended to 31st January, 2021

✏ ITR Filing Due Date of International Transactions Taxpayers for AY 2020-21 extended to 31st January, 2021

✏ ITR Filing Due Date for other tax payers extended to 31st December, 2020

✏ Tax Audit Filing Date also extended to 31st December, 2020
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