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Direct Tax
Transfer Pricing
Indirect Tax

5 June 2020

  • Extended time limit to make payment of GST dues for the month of April 2020 without any interest or penalty, for registered taxpayers with aggregate turnover of more than INR 50 million in the previous financial year

7 June 2020

  • Payment of Tax Deducted at Source (TDS) and Tax Collected at 10 June 2020 Source (TCS) in May 2019

10 June 2020

  • GSTR-7 for the month of May 2020 to be filed by taxpayers required to deduct tax deducted at source (TDS)
  • GSTR-8 for the month of May 2020 to be filed by e-commerce operators required to collect tax at source (TCS)

11 June 2020

  • GSTR-1 for the month of May 2020 to be filed by registered taxpayers with an annual aggregate turnover of more than INR 15 million

13 June 2020

  • GSTR-6 for the month of May 2020 to be filed by Input service distributors

15 June 2020

  • Payment of the first installment of advance tax for all taxpayers other than taxpayers opting for presumptive taxation for the assessment year 2021- 22 (15% of estimated tax liability to be deposited on a cumulative basis)
  • Issuance of TDS certificates for the quarter of January to March 2019

    • 20 June 2020

    • GSTR-5 for the month of May 2020 to be filed by Nonresident taxable person
    • GSTR-5A for the month of May 2020 to be filed by persons providing Online Information and Database Access or Retrieval (OIDAR) services

    27 June 2020

    • GSTR-3B for the month of May 2020 to be filed by all registered taxpayers having turnover of more than INR 50 million in the previous financial year

    30 June 2020

    • Furnishing of the statement of equalization levy in Form 1 for FY 2017-18
    • The due date for furnishing of challan-cum-statement in respect of tax deducted under section 194-IA, 194-IB in May 2020

    30 June 2020

    • The due date for filing the notification for Economic Substance Regulation in United Arab Emirates (UAE)

    Notes

    However, it must be noted that the CBDT vide the Taxation and Other Laws (Relaxation of Certain Provisions) Ordinance, 2020 dated 31 March 2020 has extended all respective due dates, falling during the period from 20 March 2020 to 29 June 2020, till 30 June 2020.
    The benefit of the extended due date shall not be available in respect of payment of tax. However, any delay in payment of tax, which is due for payment from 20 March 2020 to 29 June 2020, shall attract interest at the lower rate of 0.75% for every month or part thereof if the same is paid after the due date but on or before 30 June 2020.

    The government vide Notification No. 35/2020 dated 3 April 2020 has announced the extension of various compliance due dates falling between the period from 20 March 2020 to 29 June 2020, to 30 June 2020. Further, vide Notification No. 36/2020 dated 3 April 2020, the government has also notified various extended due dates for furnishing of GSTR-3B for the month of May 2020, based on the aggregate turnover in the previous financial year, and the state in which the principal place of business is located.

    Tax Street May 2020