REMINDER: DUE DATES FOR THE MONTH SEPTEMBER
1. Claiming of Input Tax Credit pertaining to F.Y 2019-20:
Before filing GSTR-3B for September 2020, ITC for the F.Y can be claimed i.e till October 2020 or filing Annual return for December 2020 whichever is earlier. For claiming ITC for the F.Y 2019-20 20th October 2020 is the due date.
2. Rectifying/reporting in Form GSTR-1 for F.Y 2019-20:
The due date for rectifying the outward supplies for the financial year 2019-20 is which was omitted or needs any amendment in GSTR-1 is till the due date for filing GSTR-1 of September 2020, which is October 11, 2020.
3. Issuance of Debit notes and Credit notes for the F.Y 2019-20:
ITC on debit notes pertaining to invoices issued in FY 19-20 can be claimed till filing of GSTR-3B for September 2020 (i.e. till October 20, 2020). Debit notes can be issued upto September 30, 2020, to enable customers to avail ITC. Similarly, Credit notes for supplies made in FY 19-20 can be issued by September 30, 2020.
4. E-invoicing of taxpayers with turnover exceeding ₹ 500 crores
E-invoicing becomes compulsory for taxpayers having aggregate turnover exceeding ₹ 500 crores with effect from October 1, 2020. Therefore, the taxpayers falling in the above category will have to make their IT infrastructure ready for the above by 30 September 2020.
5. CAROTAR 2020 under Customs and FTP:
The Government has introduced the Customs (Administration of Rules of Origin under Trade Agreements) Rules, 2020 (‘CAROTAR 2020’) vide Notification No. 81/2020 – Customs (NT) dated August 21, 2020, for claiming benefits under Trade Agreements. A detailed procedural framework has for governing preferential duty claims is coming into effect from 21 September 2020.
6. Miscellaneous compliances:
MEIS / SEIS scrips that were issued between the period commencing from1st March 2018 to 30th June 2018 will remain valid till September 30, 2020.
Relevant compliances under EOUs schemes are to be completed on or before September 30, 2020.
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