phoenixtax March 3, 2021IMPORTANT GST DATES:
GST calendar assists all registered businesses and professionals to be prepared for compliance well before. GST due dates are very crucial for every taxpayer to escape from any interest or late fee incurred.
TAX STRUCTURE OVERVIEW:
The GST returns in forms GSTR-1 and GSTR-3B are to be filed by people registered below GST monthly if their annual mixture turnover throughout the twelve months exceeds Rs 1.5 crore. On the other hand, the remainder of the taxpayers had a choice to select a quarterly GSTR-1 filing whereas continued to file GSTR-3B monthly, until December 2020.
From the quarter of first January 2021, the taxpayers having annual turnover up to Rs.5 crore could select the QRMP theme, below that they will file each GSTR-1 and GSTR-3B once during a quarter whereas continue creating monthly calculable payment of taxes. An Invoice Furnishing Facility (IFF) has conjointly been created for quarterly filers of GSTR-1 to transfer documents of their B2B outward provides. In between, auto-drafted returns like GSTR-2A and GSTR-2B can facilitate taxpayers to assert their eligible input reduction in their GSTR-3B.
A person registered below the composition theme should pay tax once during a quarter in kind CMP-08 giving basic details whereas he should file a brand new version of GSTR-4 once a year by 30th Apr for FY 2019-20 ahead. Until FY 2018-19, a remunerator registered below composition theme had to file a quarterly come back in kind GTSR-4 and an annual come back in kind GSTR-9A.
Special transactions below GST are outlined with specific GST returns like GSTR-5, GSTR-5A, GSTR-6, GSTR-7 and GSTR-8. For a lot of info concerning GST returns, scan our article on ‘GST Returns’.
If you find it difficult to file GST and returns, you can approach Phoenix Tax the best GST Consultant in Chennai who can ease the process and make it more convenient.
COMPOSITION SCHEME FOR TAXABLE PERSONS:
A person registered for the composition theme should pay tax once during a quarter in form CMP-08 giving basic details whereas he should file a replacement version of GSTR-4 per annum by 30th April for FY 2019-20 ahead. Until FY 2018-19, a payer registered below composition theme had to file a quarterly come back in form GTSR-4 and an annual come back in kind GSTR-9A.
GST CALENDAR – MARCH 21
| DATE DUE | FORM | TENURE | DESCRIPTION |
| 10th March 10th April | GSTR-7 (Monthly) | February’21 March’21 | Summary of TDS and deposited under GST law. |
| 10th March 10th April | GSTR-8 (Monthly) | February’21 March’21 | Summary of TCS and deposited by E-commerce operators under GST laws. |
| 11th March 11th April | GSTR-1 (Monthly) | February’21 March’21 | Outward supplies’ summary where turnover goes beyond Rs.5 crore or has not chosen the QRMP scheme for the quarter of Jan-Mar 2021. |
| 13th March | B2B Outward supplies | February’21 | Uploading outward supplies affected during the second month of the quarter by quarterly return filers opting for Invoice Furnishing Facility (IFF) under the QRMP scheme. |
| 13th March 13th April | GSTR-6 (Monthly) | February’21 March’21 | ITC received details and ISD distribution details. |
| 15th March | PF & ESI liability deposit | February’21 | PF & ESI contribution. |
| 20th March | GSTR-5 (monthly) | February’21 | Outward taxable supplies summary & tax payable by a non-resident taxable person. |
| 20th March 20th April | GSTR-5A (Monthly) | February’21 March’21 | Outward taxable supplies summary and tax payable by OIDAR. |
| 20th March | GSTR-3B | February’21 | Outward supplies summary, ITC claimed, payable net tax for taxpayers with turnover exceeding Rs.5 crore in the last FY or have not chosen the QRMP scheme for the quarter of Jan-Mar 2021. |
| 25th March | PMT-06 | February’21 | Challan deposited by taxpayers who have opted for the quarterly filing of GSTR-3B. |
| 31st March | RFD-11 (LUT) | FY 2021-22 | Due date for LUT renewal for FY 2021-22 |
| 31st March | CMP-02 | FY 2021-22 | Due date for taxpayers to opt for the composition scheme for the upcoming FY. |
| 31st March | GSTR-9/9A | FY 2019-20 | Annual GST returns for all regular/Composition taxpayers. |
| 31st March | GSTR-9C | FY 2019-20 | Certified Reconciliation Statement to be furnished by taxpayers with annual turnover above Rs.5 crore. |
| 13th April | GSTR-1 (Quarterly) | Jan – Mar’21 | Annual turnover equal to Rs 1.5 crore can go for quarterly filing. Such taxpayers can also make use of IFF to provide B2B invoices or documents every month. |
| 18th April | CMP-08 | Jan-Mar’21 | GST consultants can assist in filing this form. |
| 25th April | ITC-04 | Jan-Mar’21 | Manufacturer has to file the form to report the summary of goods sent to or received from a job-worker. |
Remember:
- The due dates mentioned are subject to changes notified by the involved department.
- The Invoice Furnishing Facility (IFF) may be a facility below the QRMP theme for little taxpayers, UN agency will value more highly to transfer their B2B outward provide invoices monthly, for the primary 2 months of the quarter. The invoices about the last month of the quarter are to be uploaded within the GSTR-1 come.
- The annual form GSTR-9/9A for FY 2019-20 has been created elective for little taxpayers whose combination turnover is a smaller amount than Rs.2 crores.
