GST

GST Compliances Before 31st August 2020

GST: Compliances Before 31st August 2020

The tax compliances in the last 6 months has undergone a total change. Entire compliances schedule has been changed in view of the prevailing pandemic.

  1. File GSTR-4 of FY 2019-20):

31st August, 2020 is the last date for filing of GSTR-4 for financial year 2019-20. Notification No. 59/2020 dated 13.07.2020. It may be noted that GSTR-4 is an annual Return form to be filed by a composition dealer.

 

  1. File ITC 04

Last date for filing of ITC 04 for the 4th quarter of FY 2019-20 & 1stquarter of FY 2020-21 is 31st August, 2020 in view of Notification No. 55/2020 dated 27.06.2020. It may be noted that  ITC-04 is related to the job workers to be submitted by the principal on quarterly basis. It is required to be furnished on or before 25th day of the month succeeding the quarter. ITC-04 requires data such as Goods sent to the job worker, Goods received back from the job worker or sent out from the business place of job-work etc.

 

  1. File GSTR-8:

Pursuant to Notification No. 55/2020 dated 27.06.2020, due date for GSTR- 8 for the month of March 2020 to July 2020is extended to 31st August, 2020. It may be noted that GSTR-8 is submitted by an E-commerce operator who collects tax at source under section 52. In normal course, it is required to be furnished within 10 days after the end of the month in which collection of tax at source is made.

 

  1. File GSTR-5:

Pursuant to Notification No. 55/2020 dated 27.06.2020, due date for GSTR-5 for the month of March 2020 to July 2020is extended to 31st August, 2020. It may be noted that GSTR-5 is to be filed by Non- Resident taxable persons. The due date of GSTR-5 in normal course is earlier of,
a) Within 20 days after the end of a calendar month
b) Within 7 days after the last day of validity period of registration.

 

  1. File GSTR-5A:

Pursuant to Notification No. 55/2020 dated 27.06.2020, due date for GSTR-5A for the month of March 2020 to July 2020 is now stand extended to 31st August, 2020. It may be noted that GSTR-5A is submitted by the OIDAR service providers. GSTR-5A is furnished on or before within 20 days after the end of the month.

 

  1. File GSTR-6:

Pursuant to Notification No. 55/2020 dated 27.06.2020, the due date for GSTR-6 for the month of March 2020 to July 2020 is now extended to 31st August, 2020. It may be noted that GSTR-6 is filed by input service distributors (ISD). It is filed within 13 days from the end of the month. Details of all the invoices on which credit has been received and details of tax invoices issued by ISD to be furnished in the GSTR-6.

 

  1. File Letter of Undertaking (LUT):

Letter of Undertaking (LUT) is a document that exporters can file to export goods or services without having to pay taxes. Any registered person can furnish LUT in form GST RFD 11 and export goods without the payment of integrated tax. It may be noted that Due date for filing of LUT for the financial year 2020-21 is extended to 31st August, 2020 as per Notification No. 55/2020 dated 27.06.2020.

 

  1. File GSTR-7:

Pursuant to Notification No. 55/2020 dated 27.06.2020, due date for GSTR-7 for the month of March 2020 to July 2020 is now extended to 31st August, 2020. It may be noted that GSTR-7 is to be filed by TDS deductor. It is to be furnished within 10 days after the end of the month in which tax has been deducted at source.