Looking back to last 15 months -specifically 2020 . It was the year when Professionals worked double than Usual year.

JAN-2020

  • 31st January 2020 was the last date for GSTR 9 AND 9C FOR FY 17-18 . This was after extending 4-5 times . Professionals still understanding 36(4) which was implemented back in Oct-2019

FEB – 2020

  • Covid cases  identified in India

MAR-2020

  • Janta Curfew on 22nd  March 2020
  • We were about close year 19-20 on 31st March but then It was announced Lockdown from  24th March 2020

APRIL – MAY 2020

  • Lockdown Extended till 31st May .
  • Aatm-nirbhar packages announced .
  • GSTR 3B & 1  dates extended.  36(4) relaxed for few months.
  • even when GSTR 3B March to May late fees were waived till 24th June 2020, They levied interest at 9% (still feeling strange)

JUNE – NOV 2020

  • Successfully navigated through the maze of due dates extension in wake of covid relaxation wherein we attended webinars to just understand various due dates and interest rate applicability.
  • Unlock phase
  • Faceless era started in Income TAx.
  • All GST extended dates  got settled and it was back on track ..36(4) got more stricter .  GSTR 2B introduced.
  • Einvoice for 500 crore above FROM 1ST  Oct, 2020 – A new era .
  • Restricted staff, Night Curfews, Work from Home, Social distancing and Fear continues
  • TCS on SALE OF GOODS was introduced in Income tax from 1st Oct, 2020 .. I still can’t understand the logic behind implementing TCS.. This created lil bit Havoc & confusion.

DECEMBER 2020

  • ITR dates extended till December
  • GSTR 9 and 9C of FY 18-19 due date was 31-12-2020.. Clashing due dates. One of the Hectic December ever.
  • It was not extended even  Extension was  requested .

JAN  – FEB 2021

  • Finally Covid Controlled.
  • Tax audit extended till 15-1-2021
  • Budget 2021 on 1st Feb  gave some bad news to Professionals. Lots of Procedure changes in  GST.
  • New GST amendments  – strict suspension / cancellation policies w/o. natural justice , Stricter registration norms etc
  • QRMP implemented. One of worst return filling system decision  after GST implementation
  • Einvoice for 100 crore above from 1st Jan 21

NOW MARCH 2021

  • GSTR 9 and 9C of FY 19-20 due date 31-3-2021.
  • End of all pending things.. End of all Pendency. Beginning of New Fin. year from April’21 with Fresh work with new Vision.. Some more new provisions and Some More restrictions & complexities in GST .

—————————————-

Finally,  What I see on Macro level is Incredible efforts by Professionals even during time of Pandemic . Most GSTR 9+ 9C of FY 17-18, 18-19, 19-20, have been filed during last 1.5 year . Each time looking into data of 3 yrs +  Making reconciliation each time for 3 yrs as data spilled for 3 yrs

Even with workload of Income Tax Audits and Monthly Compliances like 3B, 1 , ITR,  TDS TCS returns, CMP8 , etc ,

We all conquered.

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