GST Return Due Date for December 2020

 

GST Return Filing Due Dates for December 2020

The government announces GST return filing due dates from time to time in order to maintain taxation in line with respective clearance. Also, the main effort is to alert the taxpayers regarding the GST return filing due dates is to make them neglect any penalty or interest.

As GSTR 1 & GSTR 3B is to be filed every month, there is a greater need of getting latest updates/notification based on the GST due dates calendar for avoiding any interest and penalty. 

Form Name	Filling Period	Due Date
GSTR 07	November 20 (Monthly)	10th December 2020
GSTR 08	November 20 (Monthly)	10th December 2020
GSTR 01(T/O > 1.5 Cr)	November 20 (Monthly)	11th December 2020
GSTR 01(T/O < 1.5 Cr)	Octo to Dec. 20 (Quarterly)	13th January 2021
GSTR 06	November 20 (Monthly)	13th December 2020
GSTR 3B	November 20 (Monthly) T.O. > 5 Cr.	20th December 2020
GSTR 3B	November 20 (Monthly) Annual Turnover of upto Rs.5cr in Pr. FY (Group A: Chhattisgarh, Karnataka, Goa, Kerala, Tamil Nadu, Madhya Pradesh, Gujarat, Maharashtra, Telangana, Andaman and Nicobar Islands, Lakshadweep, Andhra Pradesh, Daman & Diu and Dadra & Nagar Haveli, Puducherry)	22nd December 2020
GSTR 3B	November 20 ( Monthly) Annual Turnover of upto Rs. 5 Cr in Pr.FY (Group B: Himachal Pradesh, Manipur,  Haryana, Rajasthan, Uttar Pradesh, Punjab, Uttarakhand, Nagaland, Bihar, Sikkim, Arunachal Pradesh, Mizoram, Tripura, West Bengal, Jharkhand, Odisha, Jammu and Kashmir, Meghalaya, Assam,  Ladakh, Chandigarh, Delhi)	24th December 2020
GSTR CMP 08	Octo to Dec. 20 (Quarterly)	18th January 2021
GSTR 9, 9A & 9C (T.O > 2 Cr.)	FY 2018-19	31st December 2020

Remarks :

Extension of due dates for FORM GSTR-3B and GSTR 1 for the month of July 2019 to January 2020 till 24th March 2020 for registered persons having principal place of business in the Union territory of Ladakh.

 

TCS ON SALE OF GOODS U/s 206C(1H)

Every person, being a seller, who receives any amount as consideration for sale of any goods of the value or aggregate of such value exceeding fifty lakh rupees in any previous year, other than the goods being exported out of India or goods covered in sub-section (1) or sub-section (1F) or sub-section (1G) shall, at the time of receipt of such amount, collect from the buyer, a sum equal to 0.1 per cent of the sale consideration exceeding fifty lakh rupees as income-tax:

Provided that if the buyer has not provided the Permanent Account Number or the Aadhaar number to the seller, then the provisions of clause (ii) of sub-section (1) of section 206CC shall be read as if for the words "five per cent", the words "one per cent" had been substituted:

Provided further that the provisions of this sub-section shall not apply, if the buyer is liable to deduct tax at source under any other provision of this Act on the goods purchased by him from the seller and has deducted such amount.

Explanation.-For the purposes of this sub-section,-

(A) "buyer" means a person who purchases any goods, but does not include,—

(1) the Central Government, a State Government, an embassy, a High Commission, legation, commission, consulate and the trade representation of a foreign State; or

(2) a local authority as defined in the Explanation to clause (20) of section 10; or

(3) a person importing goods into India or any other person as the Central Government may, by notification in the Official Gazette, specify for this purpose, subject to such conditions as may be specified therein;

(B) "seller" means a person whose total sales, gross receipts or turnover from the business carried on by him exceed ten crore rupees during the financial year immediately preceding the financial year in which the sale of goods is carried out, not being a person as the Central Government may, by notification in the Official Gazette, specify for this purpose, subject to such conditions as may be specified therein.

Also read : FAQ on TCS on sale of Goods u/s 206C(1H) 

Guidelines under section 206C(1H) of the Income-tax Act, 1961

Finance Act, 2020 inserted sub-section (1H) in section 206C of the Act which mandates that with effect from 1st day of October, 2020 a seller receiving an amount as consideration for sale of any goods of the value or aggregate of such value exceeding fifty lakh rupees in any previous year to collect tax from the buyer a sum equal to 0.1 per cent (subject to the provisions of proposed sub-section (10A) of the section 206C of the Act) of the sale consideration exceeding fifty lakh rupees as income-tax. The collection is required to be made at the time of receipt of amount of sales consideration.

It was requested to clarify how the various thresholds specified under these sections shall be computed and whether the tax is required to be deducted/collected in respect of amounts received before 1st October, 2020.

sub-section (1H) of section 206C of the Act applies on receipt of sale consideration, the provision of this sub-section shall not apply on any sale consideration received before 1st October 2020. Consequently it would apply on all sale consideration (including advance received for sale) received on or after 1st October 2020 even if the sale was carried out before 1st October 2020.

Since the threshold of fifty lakh rupees is with respect to the previous year, calculation of receipt of sale consideration for triggering TCS under sub-section (1H) of section 206C shall be computed from 1st April, 2020. Hence, if a person being seller has already received fifty lakh rupees or more up to 30th September 2020 from a buyer, the TCS under sub-section (1H) of section 206C shall apply on all receipt of sale consideration during the previous year, on or after 1st October 2020, from such buyer.