Tax Compliance Tracker - August 2023

CS Lalit Rajput , Last updated: 16 August 2023
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1. Compliance requirement under Income Tax Act, 1961

Sl.	Compliance Particulars	Due Dates
1	Due date for deposit of Tax deducted/collected for the month of July, 2023. However, all sum deducted/collected by an office of the government shall be paid to the credit of the Central Government on the same day where tax is paid without production of an Income-tax Challan	07.08.2023
2.	Due date for issue of TDS Certificate for tax deducted under section 194-IA in the month of June, 2023	14.08.2023
3	Due date for issue of TDS Certificate for tax deducted under section 194-IB in the month of June, 2023	14.08.2023
4	Due date for issue of TDS Certificate for tax deducted under section 194M in the month of June, 2023	14.08.2023
5	Due date for issue of TDS Certificate for tax deducted under section 194S in the month of June, 2023 Note: Applicable in case of specified person as mentioned under section 194S	14.08.2023
6	Due date for furnishing of Form 24G by an office of the Government where TDS/TCS for the month of July, 2023 has been paid without the production of a challan	15.08.2023
7	Due date for furnishing statement in Form no. 3BB by a stock exchange in respect of transactions in which client codes been modified after registering in the system for the month of July, 2023	15.08.2023
8	Quarterly TDS certificate (in respect of tax deducted for payments other than salary) for the quarter ending June 30, 2023 Note: Due to extension of due date of TDS statement vide Circular no. 9/2023, dated 28-06-2023, the revised due date for furnishing TDS certificate shall be October 15, 2023	15.08.2023
9	Due date for furnishing of challan-cum-statement in respect of tax deducted under section 194-IA for the month of July, 2023	30.08.2023
10	Due date for furnishing of challan-cum-statement in respect of tax deducted under section 194M in the month of July, 2023	30.08.2023
11	Due date for furnishing of challan-cum-statement in respect of tax deducted under section 194-IB in the month of July, 2023	30.08.2023
12	Due date for furnishing of challan-cum-statement in respect of tax deducted under section 194S in the month of July, 2023 Note: Applicable in case of specified person as mentioned under section 194S	30.08.2023
13	Application in Form 9A for exercising the option available under Explanation to section 11(1) to apply income of previous year in the next year or in future (if the assessee is required to submit return of income on October 31, 2023).	31.08.2023
14	Application in Form 9A for exercising the option available under Explanation to section 11(1) to apply income of previous year in the next year or in future (if the assessee is required to submit return of income on October 31, 2023).	31.08.2023

Important Update

Centre Announces 3-Month Extension For Implementing Revised TCS Rates

Increased TCS rates to apply from 1st October, 2023: The increase in TCS rates; which were to come into effect from 1st July, 2023 shall now come into effect from October 1, 2023.Source: Click Here

2. Compliance Requirement under GST, 2017

A. Filing of GSTR 3B / GSTR 3B QRMP

a) Taxpayers having aggregate turnover > Rs. 5 Cr. in the preceding FY

Tax period	Due Date	Particulars
July, 2023	20th August, 2023	Due Date for filling GSTR - 3B return for the month of June, 2023 for the taxpayer with Aggregate turnover exceeding INR 5 crores during previous year.

b) Taxpayers having aggregate turnover upto Rs. 5 crores in the preceding FY (Group A)

Tax period	Due Date	Particulars
July, 2023	22nd August, 2023	Due Date for filling GSTR-3B return for the month of July, 2023 for the taxpayer with Aggregate turnover upto INR 5 crores during previous year and who has opted for Quarterly filing of GSTR-3B
Group A States: Chhattisgarh, Madhya Pradesh, Gujarat, Maharashtra, Karnataka, Goa, Kerala, Tamil Nadu, Telangana, Andhra Pradesh, Daman & Diu and Dadra & Nagar Haveli, Puducherry, Andaman and Nicobar Islands, Lakshadweep

c) Taxpayers having aggregate turnover uptoRs. 5 crores in the preceding FY (Group B)

Tax period

Due Date

Particulars

July, 2023

24thAugust,

2023

Annual Turnover Up to INR 5 Cr in Previous FY But Opted Quarterly Filing

Group B States: Himachal Pradesh, Punjab, Uttarakhand, Haryana, Rajasthan, Uttar Pradesh, Bihar, Sikkim, Arunachal Pradesh, Nagaland, Manipur, Mizoram, Tripura, Meghalaya, Assam, West Bengal, Jharkhand, Odisha, Jammu and Kashmir, Ladakh, Chandigarh, Delhi

B. Filing Form GSTR-1

Tax period

Due Date

Remarks

Monthly return

(July, 2023)

11.08.2023

GST Filing of returns by registered person with aggregate turnover exceeding INR 5 Crores during preceding year.
Registered person, with aggregate turnover of less then INR 5 Crores during preceeding year, opted for monthly filing of return under QRMP.

C. Non-Resident Tax Payers, ISD, TDS & TCS Taxpayers

Form No.	Compliance Particulars	Timeline	Due Date
GSTR-5 & 5A	Non-resident ODIAR services provider file Monthly GST Return	20th of the succeeding month	20.08.2023
GSTR -6	Every Input Service Distributor (ISD)	13th of the succeeding month	13.08.2023
GSTR -7	Return for Tax Deducted at source to be filed by Tax Deductor	10th of the succeeding month	10.08.2023
GSTR -8	E-Commerce operator registered under GST liable to TCS	10th of the succeeding month	10.08.2023

D. GSTR - 1 QRMP Monthly / Quarterly Return

Form No.	Compliance Particulars	Timeline	Due Date
Details of outward supply-IFF & Summary of outward supplies by taxpayers who have opted for the QRMP scheme.	GST QRMP monthly return due date for the month of April, 2022 (IFF). Applicable for taxpayers with Annual aggregate turnover up to Rs. 1.50 Crore. Summary of outward supplies by taxpayers who have opted for the QRMP scheme.	13th of succeeding month - Monthly Quarterly Return	13.08.2023

E. GST Refund

Form No.	Compliance Particulars	Due Date
RFD -10	Refund of Tax to Certain Persons	18 Months after the end of quarter for which refund is to be claimed

F. Monthly Payment of GST - PMT-06

Compliance Particular	Due Date
Due Date of payment of GST for a taxpayer with Aggregate turnover up to INR 5 crores during the previous year and who has opted for Quarterly filing of return under QRMP.	25.08.2023

Download Now: Corporate Compliance Calendar for the m/o August, 2023

The author can also be reached at cslalitrajput@gmail.com

Disclaimer: Every effort has been made to avoid errors or omissions in this material. In spite of this, errors may creep in. Any mistake, error or discrepancy noted may be brought to our notice which shall be taken care of in the next edition. In no event the author shall be liable for any direct, indirect, special or incidental damage resulting from or arising out of or in connection with the use of this information.