Reference: Central Board of Direct Taxes
Update:
Extension of the due date of pavment of tax deducted at source under 194M of the Act -reg.
As the utility for payment of tax deducted at source under section 194M of the Income-tax Act, 196I(the Act) was deployed on 17.12.2019, the Central Board of Direct Taxes, CBDT has extended the due date for payment of tax deducted at source under section 194M during the month of September, 2019 and October, 2019 and the due date for furnishing the challan-cum-statement in Form 26QD for the same, from 31.10.2019 and 30.11.2019 respectively to 31.12.2019.
Implication
Consequently, the due date of furnishing of the certificate of deduction of tax in Form 16D has also been extended for the tax deducted during the month of September, 2019 and October, 2019 to 15.01.2020.
Reference: Central Board of Indirect Taxes and Customs
Update:
38th GST Council was held on 18th December 2019. GST council had made following recommendations
Grievance Redressal Committees (GRC) will be constituted at Zonal/State level with both CGST and SGST officers and including representatives of trade and industry and other GST stakeholders (GST practitioners and GSTN etc.).
Due date for annual return in FORM GSTR-9 and reconciliation statement in FORM GSTR-9C for FY 2017-18 to be extended to 31.01.2020.
To improve filing of FORM GSTR-1:
(i) waiver of late fee to be given to all taxpayers in respect of all pending FORM GSTR-1 from July 2017 to November 2019, if the same are filed by 10.01.2020.
(ii) E-way Bill for taxpayers who have not filed their FORM GSTR-1 for two tax periods shall be blocked.
Input tax credit to the recipient in respect of invoices or debit notes that are not reflected in his FORM GSTR-2A shall be restricted to 10 per cent of the eligible credit available in respect of invoices or debit notes reflected in his FORM GSTR-2A.
Due date of filing GST returns for the month of November, 2019 to be extended in respect of a few North Eastern States.
Implication:
The same will be made effective from the date as specified in such notifications / circulars
