Tax Compliance Calendar – August 2023
Following tax-related compliances is mandatory for taxpayers in India. This includes meeting the due dates for GST return filing as per the government's compliance calendar. Non-compliance may result in heavy penalties imposed by the government.
Tax Compliance Calendar – August 2023
Following tax-related compliances is mandatory for taxpayers in India. This includes meeting the due dates for GST return filing as per the government's compliance calendar. Non-compliance may result in heavy penalties imposed by the government.
Paying taxes on time and following tax-related rules is essential for the country's economic well-being. It also helps the government in efficiently managing tax collection. To avoid penalties, taxpayers must file their Income Tax returns on time.
Here are some major due dates for various tax compliance according to the August 2023 calendar:
Essential due dates for the GST Returns in November 2022
|
Forms to be filed |
Due dates |
Who needs to file? |
|
GSTR-1 |
11 August 2023 |
Taxpayers having a collected turnover of more than Rs. 1.50 cr. or choose to file returns every month. |
|
GSTR 7 |
10 August 2023 |
GSTR-7 return is required to be filed by the persons who need to deduct TDS under GST |
|
GSTR 8 |
10 August 2023 |
GSTR-8 return should be filed by the e-commerce operators who need to deduct (Tax collected at source) TCS under GST |
|
GSTR 6 |
13 August 2023 |
Input Service Distributors |
|
GSTR 5 and 5A |
20 August 2023 |
Non-Resident Taxpayers and ODIAR services provider |
|
GSTR 5A |
13 August 2023 |
Non-resident persons are required to submit GSTR-5 and make the GST payment by the specified due date of 13th August 2023 for the month of July 2023. |
|
GSTR 3B |
20 August 2023 |
GSTR-3B Due dates have an annual turnover of more than 5 Cr. |
Income Tax Compliance Calendar For August 2023
|
Forms to be filed |
Due dates |
Who needs to file |
|
TDS/TCS |
7th August 2023 |
The deadline for depositing Tax deducted/collected for July 2023 is mentioned. If an office of the government deducts/collects the tax, it should be paid to the Central Government on the same day without needing an Income-tax Challan. |
|
Section 194-IA, 194-IB, 194M, 194S |
14th August 2023 |
The deadline for issuing TDS Certificates for tax deducted under sections 194-IA, 194-IB, 194M, and 194S in June 2023 is specified. |
|
Form 15G/15H |
15th August 2023 |
The due date for submitting Form 24G by a Government office, in cases where TDS/TCS for July 2023 has been paid without using a challan, is specified. |
|
Form no. 3BB |
15th August 2023 |
Income tax 3BB Form is a monthly statement to be submitted by a stock exchange pertaining to transactions in which client codes have been rectified after registering in the system for the month. |
|
TCS certificate |
15th August 2023 |
The TCS certificate for tax collected by any person for the quarter ending June 30, 2023, is now due on October 15, 2023, due to the extension of the TCS statement's deadline as per Circular no. 9/2023, dated 28-06-2023. |
|
Section 194-IA, Section 194-IB, Section 194M and Section-194S |
30th August 2023 |
The deadline for submitting the challan-cum-statement for tax deducted under sections 194-IA, 194-IB, 194M, and 194-S for the month of July 2023 is specified. Note: This applies to specified persons as mentioned under section 194S |
Make sure you file the above-mentioned forms before the due dates to escape hefty penalties. Therefore, we advise you to be pre-prepared and complete all your required filings before the time and due dates end.
Also Read: Important Update on GST Rule Impacting Indian Companies Effective From Today - New Threshold
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Krishna Gopal Varshney
An editor at MyitronlinenewsKrishna Gopal Varshney, Founder & CEO of Myitronline Global Services Private Limited at Delhi. A dedicated and tireless Expert Service Provider for the clients seeking tax filing assistance and all other essential requirements associated with Business/Professional establishment. Connect to us and let us give the Best Support to make you a Success. Visit our website for latest Business News and IT Updates.
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