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Compliance Calendar: GST and Income Tax Statutory due dates for the month of March, 2021

By Taxscan Team - On March 4, 2021 11:44 am

The month of March is the most significant month as it is the last month of the financial year.

Apart from adhering to income-tax related deadlines, you are also required to complete tax-savings exercise by March 31. March 31, 2021 is also the deadline for linking PAN with Aadhaar.

It is important for every person to know about the important due dates regarding tax payments for the upcoming month. So, we will discuss the important due dates that lie in the month of March 2021 so that you don’t miss out on anything in respect of Income Tax and GST.

Important due dates for the GST Returns in the Month of March 2021

1. 10th March: It is the due date for filing Monthly GSTR 7 (Summary of Tax Deducted at Source (TDS) and deposited) for February 2021.
2. 10th March: It is the due date for filing Monthly GSTR 8 (Summary of Tax Collected at Source (TCS) and deposited by e-commerce operators) for February 2021.
3. 11th March:  It is the due date for filing Monthly GSTR 1 for February 2021 (Summary of outward supplies where turnover exceeds Rs 1.5 crore).
4. 13th March: It is the due date for filing of GSTR-6 by Input Service Distributors for the Month February 2021.
5. 20th March: It is the due date for filing Form GSTR 3B for February 2021 for taxpayers having an aggregate turnover of more than Rs 5 crores.
6. 20th March: It is the due date for filing GSTR 5 (Non-Resident Foreign Taxpayers) Monthly Filing Due Date for February 2021.
7. 20th March: It is the due date for filing GSTR 5A (Non-Resident OIDAR Service Provider) Monthly Filing Due Date for February 2021.
8. 22nd March: It is the due date for filing Form GSTR 3B for February 2021 for Group I  taxpayers having an aggregate turnover up to Rs 5 crores.
9. 24th March: It is the due date for filing Form GSTR 3B for February 2021 for Group 2  taxpayers having an aggregate turnover up to Rs 5 crores.
10. 31st March: Due date for opting for composition scheme for the year 2021-22 in Form CMP-08.

Group 1 includes Taxpayers whose principal place of business is in Chhattisgarh, Madhya Pradesh, Gujarat, Maharashtra, Karnataka, Goa, Kerala, Tamil Nadu, Telangana, Andhra Pradesh, the Union territories of Daman and Diu and Dadra and Nagar Haveli, Puducherry, Andaman and Nicobar Islands or Lakshadweep

Group 2 includes Taxpayers whose principal place of business is in Himachal Pradesh, Punjab, Uttarakhand, Haryana, Rajasthan, Uttar Pradesh, Bihar, Sikkim, Arunachal Pradesh, Nagaland, Manipur, Mizoram, Tripura, Meghalaya, Assam, West Bengal, Jharkhand or Odisha, the Union territories of Jammu and Kashmir, Ladakh, Chandigarh or Delhi.

Important due dates for the Income Tax in the Month of March 2021

1. 7th March: Due date for deposit of tax deducted/collected for the month of February 2021.
2. 15th March: Due date of depositing the fourth quarterly instalment of advance tax (if liable to pay any) for individual and corporate taxpayers for FY 2020-21.
3. 15th March: Due date of depositing the fourth quarterly instalment of advance tax (if liable to pay any) for taxpayers who opted for a presumptive taxation scheme for FY 2020-21.
4. 15th March: Due date for E-payment of Provident Fund for February 2021.
5. 15th March: Due date for ESI payment for February 2021.
6. 17th March: Due date for issue of TDS Certificate for tax deducted under Section 194-IB, Section 194-IA, and Section 194M in the month of January 2021
7. 30th March: Due Date of Deposit of TDS with Government under Section 194-IB, Section 194-IA, and Section 194M in the month of February 2021.
8. 31st March: Extended due date of filing a quarterly statement of TDS/TCS deposited for Q1 and Q2 for FY 2020-21.
9. 31st March: Due date of filing the belated or revised return for FY 2019-20.
10. 31st March: Due date of linking PAN with Aadhaar
11. 31st March: Due date of making payment under Vivad Se Vishwas Scheme without any additional levy.
12. 31st March: Due Date for the passing of order or issuance of notice by the authorities and various compliances under various direct taxes & Benami Law.

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