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GST Due Dates in Sep.-2020 related to GST & Income Tax



Goods and Service Tax (GST)


As we say hello to September amidst corona times, while hot summer is collapsing into fall and slowly awakening autumn, it is also the most important month of GST law. Important dates are given below for important compliance purposes:


Last date of reporting /rectification in FORM GSTR-1 for FY 19-20

The last date of rectifying details of outward supplies for FY 19-20 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.


Last date of Issuance of debit notes and credit notes for FY 19-20

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 up to September 30, 2020, to enable the customer to avail ITC. Similarly, Credit notes for supplies made in FY 19-20 can be issued by September 30, 2020.


Last date of claiming ITC pertaining to FY 19-20

ITC for FY 19-20 can be claimed on before filing of GSTR-3B for September 2020 (i.e. till October 20, 2020) or filing the annual return (December 31, 2020), whichever is earlier. Hence, 20 October 2020 is the last date for claiming ITC of the FY 2019-20.


Reversal of common credits used for making exempt supplies

Reversal of ITC on inputs and input services attributable to exempted supplies on a provisional basis is governed by Rule 42 of the CGST Rules. This needs to be done on a monthly basis. Finalization is required to be done on a yearly basis. In case any ITC is wrongly availed during the FY 2019-20 than in such case reversal of such excess ITC is to be done by September 30 of next FY.


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.



INCOME TAX


7 September 2020 -​​Due date for deposit of Tax deducted/collected for the month of August 2020. However, all sum deducted/collected by an office of the government shall be paid to the credit of the Central Government on the same day where tax is paid without production of an Income-tax Challan


14 September 2020 -​Due date for issue of TDS Certificate for tax deducted under section 194-IA in the month of July 2020*


14 September 2020 -​Due date for issue of TDS Certificate for tax deducted under Section 194-IB in the month of July 2020*


14 September 2020 -​Due date for issue of TDS Certificate for tax deducted under Section 194M in the month of July 2020*


15 September 2020 -​Due date for furnishing of Form 24G by an office of the Government where TDS/TCS for the month of August 2020 has been paid without the production of a challan​*


15 September 2020 -​​Second installment of advance tax for the assessment year 2021-22​


15 September 2020 -​Due date for furnishing statement in Form no. 3BB by a stock exchange in respect of transactions in which client codes been modified after registering in the system for the month of August 2020​*


30 September 2020 -​Due date for filing of audit report under section 44AB for the assessment year 2020-21 in the case of a corporate-assessee or non-corporate assessee (who is required to submit his/its return of income on October 31, 2020). The due date for filing of the audit report has been extended from September 30, 2020, to October 31, 2020, vide the Taxation and Other Laws (Relaxation of Certain Provisions) Ordinance, 2020 read with Notification No.35 /2020, dated 24-06-2020.


30 September 2020 -​Due date for furnishing of challan-cum-statement in respect of tax deducted under section 194-IA in the month of August 2020*


30 September 2020 -​Due date for furnishing of challan-cum-statement in respect of tax deducted under Section 194-IB in the month of August 2020*


30 September 2020 -​Due date for furnishing of challan-cum-statement in respect of tax deducted under Section 194M in the month of August 2020*


30 September 2020 -​Return of income for the assessment year 2019-20 for all assessee The due date for filing of return of income under section 139 for the assessment year 2019-20 has been extended to September 30, 2020, vide the Taxation and Other Laws (Relaxation of Certain Provisions) Ordinance, 2020 read with Notification No. 35 /2020, dated 24-06-2020 and Notification No. 56/2020, dated 29-07-2020. ​


* Note: Please also refer to The Taxation and Other Laws (Relaxation of Certain Provisions) Ordinance, 2020 read with Notification No. 35 /2020, dated 24-06-2020 and Notification No. 56/ 2020, dated 29-07-2020​.​





sources: https://Incometaxindia.gov.in




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