Know all Income Tax, GST and other Compliance due date falling on 30th June, 2020
Due to the emerging financial distress faced by most people on account of the large-scale economic distress caused by COVID 19, the Government of India had extended the due dates of various provisions to provide relief in the current pandemic situation. The Union Finance & Corporate Affairs Minister Smt. Niramla Sitharaman announced several important relief measures taken by the Government of India in view of COVID-19 outbreak, especially on statutory and regulatory compliance matters related to several areas of Income Tax, GST, Customs & Central Excise and Corporate Affairs. Most of extended due date are expiring on 30th June, 2020. Lets refer to the below table to find out what is required to be filed before 30th June, 2020.
| Law | Provisions | Deadline |
| Income Tax | Filing of belated/revised income tax returns for the FY 2018-19 (AY 2019-20) | 30.06.2020 [previously it was 30.03.2020] |
| Income Tax | Aadhaar-PAN linking | 30.06.2020 [previously it was 30.03.2020] |
| Income Tax | Availment of Vivad Se Vishwas scheme | 31.12.2020 [waiver of the 10% additional charge continues up to 30.06.2020 instead of the earlier limit of 31.03.2020] |
| Income Tax | The due date of the below mentioned tax payments have not been extended. However interest at a reduced rate of 9% will be charged for payments made between 20.03.2020 till 30.06.2020 Advance taxTDS/TCSEqualisation LevySelf assessment taxSTT / CTT | 30.06.2020 [for interest at a reduced rate of 9% on payments made between 20.03.2020 till 30.06.2020 – No late fee/penalty to be charged for delay relating to this period] |
| Income Tax | Date for making various investment/payment for claiming deduction under Chapter-VIA-B of IT Act which includes Section 80C (LIC, PPF, NSC etc.), 80D (Mediclaim), 80G (Donations), etc | 30.06.2020 |
| Income Tax | Date for making investment/construction/purchase for claiming roll over benefit/deduction in respect of capital gains under sections 54 to 54GB | 30.06.2020 |
| Income Tax | Date for commencement of operation for the SEZ units for claiming deduction under deduction 10AA | 30.06.2020 [for the units which received necessary approval by 31.03.2020] |
| Income Tax & Benami Law | Date for passing of order or issuance of notice by the authorities under various direct taxes & Benami Law | 30.06.2020 [where time limit is expiring between 20.03.2020 till 30.06.2020] |
| GST | Due date for issue of notice, notification, approval order, sanction order, filing of appeal, furnishing of return, statements, applications, reports, any other documents, time limit for any compliance under the GST laws where the time limit is expiring between 20.03.2020 to 29.06.2020 | 30.06.2020 |
| Indirect Taxes | Date for making payment to avail of the benefit under Sabka Vishwas Legal Dispute Resolution Scheme 2019 | 30.06.2020 [No interest to be charged if payment is done till 30.06.2020] |
| GST | Filing of GSTR-3B which were due in March, April and May 2020 [only those having aggregate annual turnover less than Rs. 5 Crore] | 30.06.2020 [No interest, late fee, and penalty to be charged] |
| GST | Filing of GSTR-3B which were due in March, April and May 2020 [other than those having aggregate annual turnover less than Rs. 5 Crore] | 30.06.2020 [Reduced rate of interest @9% p.a (instead of 18%) from 15 days after due date will be charged. No late fee and penalty to be charged, if complied before till 30 June 2020] |
| GST | Date for opting for composition scheme | 30.06.2020 |
| GST | Last date for making payments for the quarter ending 31 March, 2020 by composition dealers | 30.06.2020 |
| GST | Filing of return for 2019-20 by the composition dealers | 30.06.2020 |
| GST | Date for filing GST annual returns of FY 18-19 | 30.06.2020 [previously it was 31.03.2020] |
| Customs | 24X7 Custom clearance facility so that all exporters/importers do facing any challenge in the customs clearance | 30.06.2020 |
| Customs | Issue of notice, notification, approval order, sanction order, filing of appeal, furnishing applications, reports, any other documents etc., time limit for any compliance under the Customs Act and other allied Laws. | 30.06.2020 [where time limit is expiring between 20.03.2020 till 30.06.2020] |
| Financial Services | Relaxations for 3 months on the below mentioned facilities:- Debit cardholders to withdraw cash for free from any other banks ATM for 3 monthsWaiver of minimum balance feeReduced bank charges for digital trade transactions for all trade finance consumers | 30.06.2020 |
| Corporate Affairs | No additional fees shall be charged for late filing during a moratorium period w.r.t any document, return, statement etc., required to be filed in the MCA-21 Registry, irrespective of its due date | Moratorium period is from 01.04.2020 to 30.09.2020 |
| Corporate Affairs | Mandatory requirement of holding meetings of the Board of the companies within prescribed interval provided in the Companies Act (120 days), 2013, shall be extended by a period of 60 days till next two quarters | 30.09.2020 |
| Corporate Affairs | Requirement to create a Deposit reserve of 20% of deposits maturing during the FY 2020-21 | 30.06.2020 [previously it was 30.04.2020] |
| Corporate Affairs | Requirement to invest 15% of debentures maturing during a particular year in specified instruments | 30.06.2020 [previously it was 30.04.2020] |
| Profession Tax Maharashtra | Requirement to file profession tax return of employees for the period ended 31st March 2020 or FY 2019-20 | 30.06.2020[previously it was 30.04.2020] |
It might take a significant amount of time for everyone to recover economically as well as physically from the COVID 19 pandemic. Therefore the compliance relief provided by the government should be utilized cautiously and not as a measure of non-compliance and tax evasion.
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