January, 2021 – Issue No. III


Due dates for filing of Form GSTR-3B for the Tax Period of December, 2020 issued.

  • Aggregate turnover (PAN based) in the previous financial year > Rs. 5 Crores, due date is on 20.01.2021;
  • Aggregate turnover (PAN based) in the previous financial year upto Rs. 5 Crores, due date is on 22.01.2021/24.01.2021 depending on the location of the taxpayer.

Auto-population of e-invoice details into GSTR-1 – clarification issued by GST portal.


CBDT Launches E-Portal for Filing Complaints Regarding Tax Evasion/Benami Properties/Foreign Undisclosed Assets.

Faceless Penalty Scheme introduced. Procedure notified.

No further extension of due date of Income Tax Returns and Audit Reports.

For the FYs 2019-20 and 20-2021, in cases where the remuneration paid to the fund manager is lower than the amount of remuneration prescribed, but is at arm’s length, it shall be sufficient compliance to clause (m) of sub-section (3) of section 9A of the Act.

The facility to file rectification for A.Y 2020-21 on the 143(1) intimations issued by CPC, Bengaluru is now enabled for “Return data correction” & “Only Reprocess the return”. The rectification facility for “Tax credit mismatch correction” will be enabled soon.


Requirement of filing of Bill of Coastal Goods (BCG) – clarification issued.

CBIC has exempted furnishing of Bank Guarantee by the carriers of EXIM cargo for transhipment through foreign territories of Sri Lanka and Bangladesh.


Online e-PRC System has been introduced for filing applications seeking Policy/Procedure relaxation in terms of Para 2.58 of FTP 2015-20.

United Kingdom (UK) has been added as a country of Export on the e-COO Platform under Generalised Scheme of Preferences (GSP).

Foreign Exchange Management (Export of Goods & Services) Regulations, 2015 amended to exempt exporters from filing declaration of exports in the case of “re-export of leased aircraft/ helicopter and/or engines/auxiliary power units (APUs)”.

MCA has introduced the “Scheme for condonation of delay for companies restored on the Register of Companies between 01 December 2020 and 31 December 2020” for the purpose of condoning the delay in filing forms with the Registrar, insofar as it relates to charging of additional fees on account of delay in such filings.

Spending of CSR funds for carrying out awareness campaigns/ programmes or public outreach campaigns on COVID-19 Vaccination programme is an eligible CSR activity.

Clarification issued on holding of annual general meeting (AGM) through video conferencing (VC) or other audio visual means (OAVM).

IBBI notifies Model Bye-Laws and Governing Board of Insolvency Professional Agencies (Amendment) Regulations, 2021.
The Ministry of Road Transport and Highways has notified rules to facilitate the issuance of International Driving Permit (IDP) for Indian citizens whose IDP has expired while they are abroad.

The Indian Tax Advisors