Tax Compliance Tracker – August, 2023: The provided content is a tax compliance tracker for August 2023. It includes various compliance requirements under the Income Tax Act, 1961, as well as the Goods and Services Tax (GST) Act, 2017. The tracker provides details such as due dates for tax deposit, issuance of TDS certificates, filing of audit reports, and various other forms and statements. It also includes important updates regarding an extension for implementing revised TCS rates and compliance requirements under GST. The content is quite extensive and provides comprehensive information for individuals and businesses regarding their tax compliance obligations.
Tax Compliance Tracker – August, 2023
- 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 August, 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 | 07.09.2023 |
| 2. | Due date for issue of TDS Certificate for tax deducted under section 194-IA in the month of July, 2023 | 14.09.2023 |
| 3 | Due date for issue of TDS Certificate for tax deducted under section 194-IB in the month of July, 2023 | 14.09.2023 |
| 4 | Due date for issue of TDS Certificate for tax deducted under section 194M in the month of July, 2023 | 14.09.2023 |
| 5 | Due date for issue of TDS Certificate for tax deducted under section 194S in the month of July, 2023 Note: Applicable in case of specified person as mentioned under section 194S | 14.09.2023 |
| 6 | Due date for furnishing of Form 24G by an office of the Government where TDS/TCS for the month of August, 2023 has been paid without the production of a challan | 15.09.2023 |
| 7 | Second instalment of advance tax for the assessment year 2024-25 | 15.09.2023 |
| 8 | 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 August, 2023 | 15.09.2023 |
| 9 | Due date for furnishing of challan-cum-statement in respect of tax deducted under section 194-IA in the month of August, 2023 | 30.09.2023 |
| 10 | Due date for furnishing of challan-cum-statement in respect of tax deducted under section 194-IB in the month of August, 2023 | 30.09.2023 |
| 11 | Due date for furnishing of challan-cum-statement in respect of tax deducted under section 194M in the month of August, 2023 | 30.09.2023 |
| 12 | Due date for furnishing of challan-cum-statement in respect of tax deducted under section 194S in the month of August, 2023 Note: Applicable in case of specified person as mentioned under section 194S | 30.09.2023 |
| 13 | Due date for filing of audit report under section 44AB for the assessment year 2023-24 in the case of a corporate-assessee or non-corporate assessee (who is required to submit his/its return of income on October 31, 2023) | 30.09.2023 |
| 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 November 30, 2023). | 30.09.2023 |
| 15 | Statement in Form no. 10 to be furnished to accumulate income for future application under section 10(21) or section 11(1) (if the assessee is required to submit return of income on November 30, 2023). | 30.09.2023 |
| 16 | Quarterly statement of TCS deposited for the quarter ending June 30, 2023 Note: The due date of furnishing TCS statement has been extended from June 30, 2023 to September 30, 2023 vide Circular no. 9/2023, dated 28-06-2023 | 30.09.2023 |
| 17 | Quarterly statement of TDS deposited for the quarter ending June 30, 2023 Note: The due date of furnishing TDS statement has been extended from June 30, 2023 to September 30, 2023 vide Circular no. 9/2023, dated 28-06-2023 | 30.09.2023 |
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 preceding FY
| Tax period | Due Date | Particulars |
| Aug, 2023 | 20th September, 2023 | Due Date for filling GSTR – 3B return for the month of Aug, 2023 for the taxpayer with Aggregate turnover exceeding INR 5 crores during previous year. |
b). Taxpayers having aggregate turnover upto Rs. 5 crores in preceding FY (Group A)
| Tax period | Due Date | Particulars | |
| Aug, 2023 | 22nd September, 2023 | Due Date for filling GSTR – 3B return for the month of Aug., 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 upto Rs. 5 crores in preceding FY (Group B)
| Tax period | Due Date | Particulars | |
| Aug, 2023 | 24th September, 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 (Aug, 2023) | 11.09.2023 | 1. GST Filing of returns by registered person with aggregate turnover exceeding INR 5 Crores during preceding year. 2. 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 succeeding month | 20.09.2023 |
| GSTR -6 | Every Input Service Distributor (ISD) | 13th of succeeding month | 13.09.2023 |
| GSTR -7 | Return for Tax Deducted at source to be filed by Tax Deductor | 10th of succeeding month | 10.09.2023 |
| GSTR -8 | E-Commerce operator registered under GST liable to TCS | 10th of succeeding month | 10.09.2023 |
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 | 13.09.2023 |
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. | 25.09.2023 |
G. GSTR 11: Statement of inward supply of goods or services or both received by UIN holders
GSTR-11 is the return to be filed by the persons who have been issued a Unique Identity Number and claims a refund of the taxes paid on their inward supplies.
Due date: Must be filed by the 28th of the month following the month in which inward supply is received by the UIN holders.
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