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Compliance Calendar For GST Returns - June 2024

Ishita Ramani , Last updated: 05 June 2024  
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Introduction

Filing your taxes on time not only gives you an advantage in terms of saving money but also helps you avoid financial difficulties like bad credit ratings and penalties for non-compliance. In this article, we will navigate through the June 2024 compliance calendar for GST returns, which includes term GST returns, important due dates, forms to be filed, periods, and taxpayers.

Compliance Calendar For GST Returns - June 2024

What is a Term GST Return?

A Goods and Services Tax (GST)-registered taxpayer is required to file a GST return with the applicable tax authorities. It comprises information about sales, purchases, income, and tax liabilities. Tax authorities utilize GST returns for calculating the taxpayer's tax burden and ensure that the GST guidelines are being followed. There are various types of GST returns that need to be filed, depending on the type of taxpayer and the nature of the transactions.

Vital Points to Consider about GST Returns

  • It is important to file taxes on time to avoid fines and interest.
  • Make sure that all the information about purchases, sales, and taxes is reported correctly.
  • Input tax credit claims can be made more properly when GST returns are filed accurately.
  • Maintaining compliance with GST regulations and avoiding legal problems will be avoided by timely and precise submission.

The June compliance calendar mainly comprises of GSTR-1 and GSTR-IFF and their due dates for taxpayers for various turnovers, along with filing frequency and due dates.GSTR 3B Return, which has to be filed by taxpayers whose aggregate turnover is greater than 5 crores or who have opted to file monthly, providing their filing frequencies, due dates, and tax periods.

Here we can have a glance at other forms and returns such as GSTR-05, GSTR-5A, GSTR-06, GSTR-07, and GSTR-08. It explains clearly who has to pay, the due date, and their tax periods.

 

Important due Dates for filing GST returns for June 2024

Due Dates

Forms to be filled

Period

Who should file?

10.06.24

GSTR-07

May 2024

To be filed by the persons who are required to deduct TDS i.e.,Tax deducted at Source Under GST.

10.06.24

GSTR-08

May 2024

To be filed by the persons who is required to deduct TCS i.e,Tax Collected at Source Under GST.

11.06.24

GSTR-1

May 2024

Taxpayers whose aggregate income is greater than 5 crores or who have opted to pay monthly

13.06.24

GSTR-05

May 2024

To be filed by Input Service Distributors.

13.06.24

GSTR-06

May 2024

To be filed by Input Service Distributors.

13.06.24

IFF

May 2024

Taxpayers whose aggregate income is greater than 5 crores or who have opted to pay quarterly.

20.06.24

GSTR 3B

May 2024

Taxpayers whose aggregate income is greater than 5 crores or who have opted to pay monthly

20.06.24

GSTR 5A

May 2024

To be filed by Non-Resident Taxpayers and ODIAR Service Provider.

 

Conclusion

Understanding the monthly compliance calendar is important for companies who operate in India under the Goods and Services Tax (GST) system to avoid fines. Complying with GST Laws and the June compliance calendar is a great source, which provides information about due dates, forms to be filed, and the period. Knowing this, businesses can file accurately and avoid penalties. Always check for important official notifications for extended due dates or changes in the due dates.

The author can also be reached at info@ebizfiling.com

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Published by

Ishita Ramani
(Director - Operations)
Category GST   Report

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