Its 1st April 2021. Start of new FY. However, Compliances of FY 20-21  will conclude in APRIL-2021. Here are Things you should share with your clients in APRIL FIRST WEEK for changes / compliances of APRIL 2021. It’s Important for FY 2020-21 as well as FY 2021-22.

GST CLIENTS

♦ Composition clients –

details for CMP 8 of Q4 as well as full year FY 20-21 details for GSTR 4 (Annual return)

♦ ALL NORMAL GST clients –

HSN code /  SAC code on tax invoice related guidance

5 crore above 6 digits 5 crore below 4 digits from 01-04-2021

Currently Monthly Clients

Ask for March GSTR 1 and 3B

it is advised to file GSTR 3B & 1 after checking comparison on GST site FOR FY 20-21..If any mismatch then Please solve in GSTR 1 or/and 3B of March..

Currently QRMP clients

Ask for Quarterly GSTR 3B and Quarterly GSTR 1
Remember to ask full Q4 details in 1 & 3B

Also it is advised to file GSTR 3B & 1 after checking comparison on GST site FOR FY 20-21..If any mismatch then Please  solve in GSTR 1 or/and 3B of March..

♦ 50 crore above GST clients

enablement of E-INVOICE & Guidance to generate e-INVOICE FROM 1ST April 2021

♦ 5 crore below GST clients –

selection for QRMP.. Opt in or Opt out to be done after carefully  evaluating & discussing with Each client for FY 21-22..

♦ Export clients

Apply for LUT FOR FY 21-22

INCOME TAX CLIENTS

TDS Clients 20-21 – pay TDS for March 2021
TCS clients 20-21  – Pay TCS for March 2021
TCS clients –  TO> 10 CR above Discuss about how TCS to be collected in FY 21-22

April Due dates for Both Income Tax and GST

11 April GSTR 1 monthly of March 30 April GSTR 4 for FY 19-20
13 April GSTR 1 Quarterly of Q4 30 April Opting or Opt out QRMP
18 April CMP 8 of  Q4 30 April TDS / TCS for Q4 payment
20 April GSTR 3B monthly of March 30 April for Form 15G /15H
22 April GSTR 3B quarterly of Q4 I hope I am not missing anything

Disclaimer: The contents of this article are for information purposes only and do not constitute an advice or a legal opinion and are personal views of the author. It is based upon relevant law and/or facts available at that point of time and prepared with due accuracy & reliability. Readers are requested to check and refer relevant provisions of statute, latest judicial pronouncements, circulars, clarifications etc before acting on the basis of the above write up.  The possibility of other views on the subject matter cannot be ruled out. By the use of the said information, you agree that Author / TaxGuru is not responsible or liable in any manner for the authenticity, accuracy, completeness, errors or any kind of omissions in this piece of information for any action taken thereof. This is not any kind of advertisement or solicitation of work by a professional.

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