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Statutory and Tax Compliance Calendar for month of July 2023

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Statutory and Tax Compliance Calendar for month of July 2023

This article compiles due-dates for GST, Income Tax, ESI, PF Acts, and Companies Act compliances with a primary focus on Individuals, Professionals, and SME Businesses.

These due-dates are subject to extensions based on stakeholder representations and circumstances. We will notify you as soon as any due-dates are extended.

In accordance with applicable laws and regulations, colour coding is employed for better understanding.

Total days – 31

No. of due dates- 12

News and updates

  1. Filing of GSTR-9 and GSTR-9C for FY 2022-23 has started on GST Portal.

  2. E-invoice limit reduced to Rs. 5 Crores w.e.f. 01st August 2023.

  3. Govt defers implementation of new TCS rate on foreign remittances till Oct 1, 2023.

  4. All the Data reflecting in AIS/TIS are based on the information provided by Reporting Entity, so always compare that data with actual data available in your books and filled up correct details in ITR.

  5. From 1st July 2023 is to mandatory to check whether PAN-Aadhaar were linked or not before deducting any TDS or before collecting any TCS. If PAN-Aadhaar were not linked then TDS/TCS will be computed at a higher rate while processing TDS/TCS statement (Section 206AA/206CC).

  6.  GSTN has issued advisory on online functionality to explain difference in GSTR-1 & GSTR-3B. This feature is now live on the GST portal.If the declared liability exceeds the paid liability by a predefined limit or the percentage difference exceeds a configurable threshold, the taxpayer will receive an intimation in the form of DRC-01B Part-A. Upon receiving an intimation in Form DRC-01B Part-A, it becomes mandatory for the taxpayer to file a reply in Form DRC-01B Part-B. f a taxpayer fails to file a response in Form DRC-01B Part B for a previous tax period in response to intimation in Form DRC-01B Part-A, they will not be able to file their Form GSTR-1/IFF for the subsequent tax period.

This calendar is prepared for the benefits of clients and well-wishers of M/s Kanhaiya Gautam and Associates, Chartered Accountants. This should not be used as substitute for professional advice.  Best efforts are placed to compile these due dates, still we would appreciate if you draw our attention to any inaccuracy.



Kanhaiya Gautam

Practicing Chartered Accountant | Advisor to MSME and Start Ups for Business Development and Tax Planning | Statutory Compliance | GST Services provided Accounting Bookkeeping Tax Preparation Personal Tax Planning Tax Law Business Law

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