As we approach the end of the financial year, businesses must ensure that they comply with all statutory tax requirements. This can be a challenging task, especially for small and medium-sized enterprises. However, with the help of a statutory tax compliance tracker, businesses can easily manage their compliance obligations.
What is a Statutory Tax Compliance Tracker?
A statutory tax compliance tracker is a tool that helps businesses keep track of their compliance obligations. It provides a comprehensive list of all the compliance requirements, along with their due dates. This tool enables businesses to ensure that they comply with all statutory tax requirements on time.
Compliance requirements
| Sl. No. | Compliance Particulars | Due Dates |
|---|---|---|
| 1 | Deposit of Tax deducted/collected for April 2023 | 15.05.2023 |
| 2 | Issue of TDS Certificate for tax deducted under section 194-IA in March 2023 | 15.05.2023 |
| 3 | Issue of TDS Certificate for tax deducted under section 194-IB in March 2023 | 15.05.2023 |
| 4 | Issue of TDS Certificate for tax deducted under section 194M in March 2023 | 15.05.2023 |
| 5 | Issue of TDS Certificate for tax deducted under section 194S in March 2023 | 15.05.2023 |
| 6 | Furnishing of Form 24G for TDS/TCS paid in April 2023 without challan | 15.05.2023 |
| 7 | Quarterly statement of TCS deposited for the quarter ending March 31, 2023 | 15.05.2023 |
| 8 | Furnishing of statement in Form no. 3BB by stock exchange for April 2023 | 15.05.2023 |
| 9 | Submission of statement in Form No. 49C by non-resident with a liaison office for FY 2022-23 | 30.05.2023 |
| 10 | Furnishing of challan-cum-statement for tax deducted under section 194-IA in April 2023 | 30.05.2023 |
| 11 | Furnishing of challan-cum-statement for tax deducted under section 194M in April 2023 | 30.05.2023 |
| 12 | Furnishing of challan-cum-statement for tax deducted under section 194-IB in April 2023 | 30.05.2023 |
| 13 | Furnishing of challan-cum-statement for tax deducted under section 194S in April 2023 | 30.05.2023 |
| 14 | Issue of TCS certificates for the 4th Quarter of FY 2022-23 | 30.05.2023 |
| 15 | Quarterly statement of TDS deposited for the quarter ending March 31, 2023 | 31.05.2023 |
| 16 | Return of tax deduction from contributions paid by trustees of an approved superannuation fund | 31.05.2023 |
| 17 | Furnishing of statement of financial transaction in Form No. 61A for FY 2022-23 | 31.05.2023 |
| 18 | E-filing of annual statement of reportable accounts in Form No. 61B for calendar year 2022 | 31.05.2023 |
| 19 | Application for allotment of PAN for non-individual resident person with financial transaction of Rs. 2,50,000 or more in FY 2022-23 | 31.05.2023 |
| 20 | Application for allotment of PAN for managing director, director, partner, trustee, author, founder, karta, CEO, principal officer or office bearer of the person referred to in Rule 114(3)(v) and who hasn’t been allotted any PAN | 31.05.2023 |
Requirement for Compliance with GST of 2017
a) The article provides information about the due dates for filing GSTR 3B and GSTR 3B QRMP for taxpayers with different aggregate turnovers. For taxpayers with an aggregate turnover greater than Rs. 5 crores in the preceding financial year, the due date for filing GSTR 3B for the month of April 2023 is May 20, 2023. For taxpayers with an aggregate turnover up to Rs. 5 crores in the preceding financial year who have opted for quarterly filing of returns under QRMP, the due date for filing GSTR 3B for the quarter of January to March 2022 is also May 20, 2023.
Here’s a table summarizing the information:
| Type of Taxpayer | Tax Period | Due Date |
|---|---|---|
| Aggregate turnover > Rs. 5 Cr. in the preceding FY | April 2023 | May 20, 2023 |
| Aggregate turnover up to Rs. 5 Cr. in preceding FY, and opted for QRMP | Jan-Mar 2022 quarter | May 20, 2023 |
b) For taxpayers with an aggregate turnover of up to Rs. 5 crores in the preceding FY (Group A), the due date for filing GSTR-3B return for the month of April 2023 is 22nd May 2023, provided they have opted for quarterly filing of GSTR-3B.
Here’s a table summarizing the information:
| Taxpayers’ Aggregate Turnover | Group | Tax Period | Due Date | Particulars |
|---|---|---|---|---|
| >Rs. 5 Crores | N/A | April 2023 | 20th May 2023 | GSTR-3B return filing for April 2023 |
| <= Rs. 5 Crores | Group A | April 2023 | 22nd May 2023 | GSTR-3B return filing for April 2023 (Quarterly filers only) |
c) Taxpayers with annual turnover up to Rs. 5 crores in the previous financial year who have opted for quarterly filing of returns (Group B)
| Tax Period | Due Date | Particulars |
|---|---|---|
| April, 2023 | 24th May, 2023 | Due date for filing GSTR-3B return for the month of April, 2023 for taxpayers with annual turnover up to INR 5 crores in the previous financial year who have opted for quarterly filing of returns (Group B) |
| Tax Period | Due Date | Remarks |
|---|---|---|
| April, 2023 | 11th May, 2023 | – Taxpayers with aggregate turnover exceeding INR 5 crores during the preceding year must file monthly returns. – Taxpayers with aggregate turnover of less than INR 5 crores during the preceding year who have opted for monthly filing of returns under the QRMP scheme must also file their returns on this date. |
