Tax Compliance Monitoring for july

Tax Compliance
Sl. No.Compliance Requirement under Income Tax Act, 1961Due Dates
1Deposit of Tax deducted/collected for June 202307.07.2023
2Deposit of TDS for April 2023 to June 2023 with AO’s permission07.07.2023
3Issue of TDS Certificate for tax deducted under section 194-IA in May 202315.07.2023
4Issue of TDS Certificate for tax deducted under section 194-IB in May 202315.07.2023
5Issue of TDS Certificate for tax deducted under section 194M in May 202315.07.2023
6Issue of TDS Certificate for tax deducted under section 194S in May 2023 (Applicable to specified persons)15.07.2023
7Quarterly statement for foreign remittances (Form No. 15CC) for Q2 202315.07.2023
8Quarterly statement of TCS deposited for Q2 ending 30 June 202315.07.2023
9Upload declarations in Form No. 15G/15H received during Q2 202315.07.2023
10Furnish statement in Form No. 3BB for modified client codes in June 202315.07.2023
11Quarterly TCS certificate for Q2 ending June 30, 202315.07.2023
12Challan-cum-statement for tax deducted under section 194-IA in June 202330.07.2023
13Challan-cum-statement for tax deducted under section 194-IB in June 202330.07.2023
14Challan-cum-statement for tax deducted under section 194M in June 202330.07.2023
15Challan-cum-statement for tax deducted under section 194S in June 2023 (Applicable to specified persons)30.07.2023
16Quarterly statement of TDS deposited for Q2 ending June 30, 202331.07.2023
17Income tax return filing for AY 2023-24 (non-corporate/non-audited assesses)31.07.2023
18Quarterly return of non-deduction of TDS by a banking company for Q2 202331.07.2023
19Statement by scientific research association, university, etc., for July 202331.07.2023
20Intimation in Form 10BBB by a pension fund for Q2 2023 investments31.07.2023
21Intimation in Form II by Sovereign Wealth Fund for Q2 2023 investments31.07.2023
Article: Important Updates
Update 1: Centre Announces 3-Month Extension For Implementing Revised TCS Rates
The increased TCS rates, initially scheduled to be effective from 1st July 2023, will now take effect from 1st October 2023.
Update 2: Compliance Requirement under GST, 2017
A. Filing of GSTR 3B / GSTR 3B QRMP
Taxpayers with aggregate turnover >Rs. 5 Cr. in the preceding FY should file their GSTR-3B return for June 2023 by 20th July 2023.
Taxpayers with aggregate turnover up to Rs. 5 crores in the preceding FY and from Group A states should file their GSTR-3B return for June 2023 by 22nd July 2023. Group A states include 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.
Taxpayers with aggregate turnover up to Rs. 5 crores in the preceding FY and from Group B states should file their GSTR-3B return for June 2023 by 24th July 2023. Group B states include 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
For June 2023, the due date for monthly GSTR-1 return is 11th July 2023 for registered persons with an aggregate turnover exceeding INR 5 Crores in the preceding year. For registered persons with an aggregate turnover of less than INR 5 Crores in the preceding year who opted for monthly filing under QRMP, the due date is 13th July 2023.
Form No.Compliance ParticularsTimelineDue Date
GSTR-5 & 5ANon-Resident Tax Payers, ISD, TDS & TCS TaxpayersMonthly GST Return20th of the succeeding month
GSTR-6Every Input Service Distributor (ISD)Monthly Return13th of the succeeding month
GSTR-7Return for Tax Deducted at source to be filed by Tax DeductorMonthly Return10th of the succeeding month
GSTR-8E-Commerce operators registered under GST are liable to TCSMonthly Return10th of the succeeding month
Form No.Compliance ParticularsTimelineDue Date
GSTR-1 QRMPMonthly/Quarterly return for taxpayers with Annual aggregate turnover up to Rs. 1.50 Crore.Summary of outward supply-IFF & Summary of outward supplies by taxpayers who have opted for the QRMP scheme.13th of succeeding month – Monthly Quarterly Return
Form No.Compliance ParticularsDue Date
RFD-10Refund of Tax to Certain Persons18 Months after the end of the quarter for which a refund is to be claimed

Monthly Payment of GST – PMT-06

Compliance ParticularDue 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.25.07.2023

Monthly Payment of GST – CMP-08

Compliance ParticularDue Date
Form GST CMP-08 is used to declare the details or summary of self-assessed tax payable by taxpayers who have opted for a composition levy. Period: April – June 202318.07.2023

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