1. Compliance requirement under Income Tax Act, 1961
|
Sl. |
Compliance Particulars |
Due Dates |
|
1 |
Due date for deposit of Tax deducted [except under section 194-IA, section 194-IB, section 194M, or section 194S (by specified person)] or collected for the month of December, 2024. However, all the sum deducted/collected by an office of the government |
07.01.2025 |
|
2. |
Due date for deposit of TDS for the period October 2024 to December 2024 when Assessing Officer has permitted quarterly deposit of TDS under Sections 192, 194A, 194D or 194H |
07.01.2025 |
|
3 |
Due date for issue of TDS Certificate for tax deducted under section 194-IA in the month of November, 2024 |
14.01.2025 |
|
4 |
Due date for issue of TDS Certificate for tax deducted under section 194-IB in the month of November, 2024 |
14.01.2025 |
|
5 |
Due date for issue of TDS Certificate for tax deducted under section 194M in the month of November, 2024 |
14.01.2025 |
|
6 |
Due date for issue of TDS Certificate for tax deducted under section 194S (by specified person) in the month of November, 2024 |
14.01.2025 |
|
7 |
Due date for furnishing of Form 24G by an office of the Government where TDS/TCS for the month of December, 2024 has been paid without the production of a challan |
15.01.2025 |
|
8 |
Quarterly statement of TCS for the quarter ending December 31, 2024 |
15.01.2025 |
|
9 |
Quarterly statement in respect of foreign remittances (to be furnished by authorized dealers) in Form No. 15CC for quarter ending December, 2024 |
15.01.2025 |
|
10 |
Due date for furnishing of Form 15G/15H declarations received during the quarter ending December, 2024 |
15.01.2025 |
|
11 |
Furnishing of statement in Form No. 49BA under Rule 114AAB (by specified fund) for the quarter ending December 31, 2024 |
15.01.2025 |
|
12 |
Quarterly TCS certificate in respect of quarter ending December 31, 2024 |
30.01.2025 |
|
13 |
Due date for furnishing of challan-cum-statement in respect of tax deducted under section 194-IA in the month of December, 2024 |
30.01.2025 |
|
14 |
Due date for furnishing of challan-cum-statement in respect of tax deducted under section 194-IB in the month of December, 2024 |
30.01.2025 |
|
15 |
Due date for furnishing of challan-cum-statement in respect of tax deducted under section 194M in the month of December, 2024 |
30.01.2025 |
|
16 |
Due date for furnishing of challan-cum-statement in respect of tax deducted under section 194S (by specified person) in the month of December, 2024 |
30.01.2025 |
|
17 |
Quarterly statement of TDS for the quarter ending December 31, 2024 |
31.01.2025 |
|
18 |
Quarterly return of non-deduction of tax at source by a banking company from interest on time deposit in respect of the quarter ending December 31, 2024 |
31.01.2025 |
|
19 |
Intimation by Sovereign Wealth Fund in respect of investment made in India for quarter ending December, 2024 |
31.01.2025 |
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 |
|
Dec 2024 |
20th January 2025 |
Due Date for filling GSTR-3B returns for the month of Dec 2024 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 |
|
|
Dec 2024 |
22nd January 2025 |
Due Date for filling GSTR-3B return for the month of Dec 2024 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 |
|
|
Dec 2024 |
24th January 2025 |
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 (Dec 2024) |
11.01.2025 |
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 than 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 |
20.01.2025 |
|
GSTR -6 |
Every Input Service Distributor (ISD) |
13th of succeeding month |
13.01.2025 |
|
GSTR -7 |
Return for Tax Deducted at source to be filed by Tax Deductor |
10th of succeeding month |
10.01.2025 |
|
GSTR -8 |
E-Commerce operator registered under GST liable to TCS |
10th of succeeding month |
10.01.2025 |
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. |
a) GST QRMP monthly return due date for the month ofDec., 2024 (IFF). Applicable for taxpayers with Annual aggregate turnover up to Rs. 1.50 Crore. b) Summary of outward supplies by taxpayers who have opted for the QRMP scheme. |
13th of succeeding month - Monthly Quarterly Return |
13.01.2025 |
E. GST Refund
|
Form No. |
Compliance Particulars |
Due Date |
|
RFD -10 |
Refund of Tax to Certain Persons: Application for Refund by any specialized agency of UN or any Multilateral Financial Institution and Organization, Consulate orEmbassy of foreign countries, etc. |
2 years from the last day of the quarter in which supply was received |
F. Monthly Payment of GST - PMT-06
|
Compliance Particular |
Due Date |
|
Challan for deposit of goods and services tax 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. |
25.01.2025 |
G. GSTR 11: Statement of inward supply of goods or services or both received by UIN holders -due date 28.01.2025
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.
H. Monthly Payment of GST - CMP-08
|
Compliance Particular |
Due Date |
|
Form GST CMP-08 is used to declare the details or summary of self-assessed tax payable by taxpayers who have opted for a composition levy. Period: (Oct-Dec, 2024) |
18.01.2025 |
Key Updates
1. The Bombay High Court has asked the Central Board of Direct Taxes (CBDT) to extend the deadline for filing revised and belated Income Tax Returns (ITRs) to January 15, 2025. The extension will be for taxpayers eligible for the Section 87A tax rebate.
2. The Income Tax Department has extended the deadline to January 31, 2025 to pay a lower amount of income tax to avail Vivad Se Vishwas Scheme 2024. The direct Tax Vivad Se Vishwas Scheme 2024 announced in Budget 2024 provides an opportunity to taxpayers for settling their pending tax disputes with the Income Tax Department.
The author can also be reached at cslalitrajput@gmail.com
CAclubindia
