GST, Income Tax, ROC worklist for May 2024

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In the world of taxation, meeting compliance deadlines is crucial for maintaining financial health. This guide explores the essential compliances for both GST and income tax, providing a roadmap for navigating tax obligations effectively.




GST Due Dates:

PARTICULARSNATURETAX PERIODDUE DATE
GSTR-7TDS DEDUCTORS UNDER GSTApril 202410 May 2024
GSTR-8TCS COLLECTERS UNDER GSTApril 202410 May 2024
GSTR-1MOTHLY RETURN FOR OUTWARD SUPPLIESApril 202411 May 2024
GSTR-5NRTPApril 202413 May 2024
GSTR-6ISD (INPUT SERVICE DISTRIBUTOR)April 202413 May 2024
GSTR-3BMOTHLYApril 202420 May 2024
GSTR-5AOIDARApril 202420 May 2024
RFD-10REFUND OF TAX TO CERTAIN PERSONS18 Months after the end of quarter for which refund is to be claimed

List of already defined GST Compliance:

  1. GST Return Filing:
    • GSTR-1 (Monthly/Quarterly): This is for outward supplies. The due date varies depending on the turnover and the frequency of filing (monthly/quarterly).
    • GSTR-3B (Monthly): A summary return that should be filed by the 20th of the following month.
    • CMP-08 (Quarterly): For composition dealers, due by the 18th of the month following the quarter.
    • GSTR-5 (Monthly): For non-resident foreign taxpayers, due by the 20th of the following month.
    • GSTR-6 (Monthly): For input service distributors, due by the 13th of the following month.
    • GSTR-7 (Monthly): For Tax Deducted at Source (TDS) deductors, due by the 10th of the following month.
    • GSTR-8 (Monthly): For e-commerce operators, due by the 10th of the following month.
  2. GST Payment:
    • The GST payment due date for GSTR-3B is the 20th of the following month.
  3. GST Annual Return:
    • GSTR-9: The annual return is typically due by December 31 of the following financial year.
  4. GST Reconciliation:
    • Reconciliation of GSTR-2A & 2B with purchase register should be done on an ongoing basis to avoid discrepancies.

PF/ESI:

15.05.2024ESIESIC payment
15.05.2024EPFEPF payment

Income Tax Due Dates:

7 May 2024 –

​Due date for deposit of Tax deducted/collected for the month of April, 2024. 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

15 May 2024 –

​​​Due date for issue of TDS Certificate for tax deducted under  section 194-IA in the month of March, 2024

15 May 2024 –

​Due date for issue of TDS Certificate for tax deducted under  section 194-IB in the month of March, 2024

15 May 2024 –

​Due date for issue of TDS Certificate for tax deducted under  section 194M in the month of March, 2024

15 May 2024 –

​Due date for issue of TDS Certificate for tax deducted under  section 194S (by specified person) in the month of March, 2024

15 May 2024 –

​Due date for furnishing of Form 24G by an office of the Government where TDS/TCS for the month of April, 2024 has been paid without the production of a challan​​

15 May 2024 –

​Quarterly statement of TCS deposited for the quarter ending March 31, 2024

15 May 2024 –

​Due date for furnishing statement in Form no. 3BB by a stock exchange in respect of transactions in which client codes have been modified after registering in the system for the month of April, 2024

30 May 2024 –

​Submission of a statement (in Form No. 49C) by non-resident having a liaison office in India for the financial year 2023-24

30 May 2024 –

​​​Due date for furnishing of challan-cum-statement in respect of tax deducted under  section 194-IA in the month of April, 2024

30 May 2024 –

​​Due date for furnishing of challan-cum-statement in respect of tax deducted under  section 194M in the month of April, 2024

30 May 2024 –

​​Due date for furnishing of challan-cum-statement in respect of tax deducted under  section 194-IB in the month of April, 2024

30 May 2024 –

​​Due date for furnishing of challan-cum-statement in respect of tax deducted under  section 194S (by specified person) in the month of April, 2024

30 May 2024 –

​Issue of TCS certificates for the 4th Quarter of the Financial Year 2023-24​

31 May 2024 –

​Quarterly statement of TDS deposited for the quarter ending March 31, 2024

31 May 2024 –

​Return of tax deduction from contributions paid by the trustees of an approved superannuation fund​

31 May 2024 –

​​Due date for furnishing of statement of financial transaction (in Form No. 61A) as required to be furnished under sub-section (1) of  section 285BA of the Act respect for financial year 2023-24

31 May 2024 –

​​Due date for e-filing of annual statement of reportable accounts as required to be furnished under  section 285BA(1)(k) (in Form No. 61B) for calendar year 2023 by reporting financial institutions​

31 May 2024 –

​Application for allotment of PAN in case of non-individual resident person, which enters into a financial transaction of Rs. 2,50,000 or more during FY 2023-24 and hasn’t been allotted any PAN​

31 May 2024 –

​Application for allotment of PAN in case of person being managing director, director, partner, trustee, author, founder, karta, chief executive officer, principal officer or office bearer of the person referred to in Rule 114(3)(v) or any person competent to act on behalf of the person referred to in Rule 114(3)(v) and who hasn’t allotted any PAN

31 May 2024 –

​​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 or before July 31, 2024)

31 May 2024 –

​​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 or before July 31, 2024)

31 May 2024 –

​​Statement of donation in Form 10BD to be furnished by reporting person under  section 80G(5)(iii) or section  section 35(1A)(i) in respect of the financial year 2023-24​

31 May 2024 –

​​Certificate of donation in Form no. 10BE as referred to in  section 80G(5)(ix) or  section 35(1A)(ii) to the donor specifying the amount of donation received during the financial year 2023-24.​

List of already defined Income Tax Compliance:

  1. Filing of Income Tax Returns (ITR):
    • For Individuals and HUFs (non-audit cases): Usually due by July 31 (unless extended).
    • For Businesses and Audit Cases: Typically, due by 31 October (unless extended).
  2. TDS Return Filing:
    • Quarterly TDS return (Form 24Q, 26Q) should be filed within 31 days from the end of the quarter and for the month of March till 31 May
  3. TCS Return filing
    1. Quarterly TCS return (Form 27Q, 27EQ) should be filed within 15 days from the end of the quarter.
  4. Advance Tax Payment:
    • There are specified due dates for paying advance tax depending on the financial year.
  5. Tax Audit and Transfer Pricing Compliance:
    • Tax audit reports (Form 3CD) should be submitted by September 30.
  6. Annual Information Return (AIR):
    • AIR filing should be done by financial institutions by January 31

ROC

30.05.2024ROCLLP-Form 11-Annual return of Limited Liability Partnership (LLP)
30.05.2024ROCFC-4-Form FC-4 – Annual return for foreign companies (branch office/ liaison office) 

The information provided in this guide is for general informational purposes only and should not be construed as legal, tax, or financial advice. While we strive to keep the information accurate and up-to-date, tax laws and regulations may change frequently and vary by jurisdiction. Therefore, it is advisable to consult with a qualified tax professional or financial advisor regarding specific tax issues or compliance requirements. We do not accept any responsibility or liability for any loss or damage incurred as a result of reliance on the information presented herein.

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Pooja Gupta

CA Pooja Gupta (CA, ISA, M.com) having 15 years of experience. Educator and Digital Creator

Disclaimer:- The opinions presented are exclusively those of the author and CA Guruji Classes. The material in this piece is intended purely for informational purposes and for individual, non-commercial consumption. It does not constitute expert guidance or an endorsement by any organization. The author, the organization, and its associates are not liable for any form of loss or harm resulting from the information in this article, nor for any decisions made based on it. Furthermore, no segment of this article or newsletter should be employed for any intention unless granted in written form, and we maintain the legal right to address any unauthorized utilization of our article or newsletter.

CA Pooja Gupta (CA, ISA, M.com) having 15 years of experience. Educator and Digital Creator

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