Tax Compliance Tracker [January, 2024]: Income Tax & GST Deadlines

Posted on January 1, 2024 By Priyanka Menon In General Updates, GST, Income Tax

Welcome to the Regulatory Compliance Update for January 2024. This update serves as a comprehensive guide to the compliance obligations outlined under the Income Tax Act, 1961, and the Goods and Services Tax (GST) Act, 2017 for the month of January 2024. Detailed within are critical deadlines for diverse regulatory filings and obligations, offering valuable insights to assist both individuals and businesses in meeting their regulatory responsibilities.

1. Compliance requirement under Income Tax act, 1961 for January, 2024

Sl.Compliance ParticularsDue Dates
1​Due date for deposit of Tax deducted/collected for the month of December, 2023. However, all the 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 Challan07.01.2024
2​​Due date for deposit of TDS for the period October 2023 to December 2023 when Assessing Officer has permitted quarterly deposit of TDS under 192, 194A, 194D or 194H07.01.2024
3​​Due date for issue of TDS Certificate for tax deducted under section 194-IA in the month of November, 202314.01.2024
4​​Due date for issue of TDS Certificate for tax deducted under section 194-IB in the month of November, 202314.01.2024
5​​​Due date for issue of TDS Certificate for tax deducted under section 194M in the month of November, 202314.01.2024
6​Due date for furnishing of Form 24G by an office of the Government where TDS/TCS for the month of December, 2023 has been paid without the production of a challan​15.01.2024
7​Quarterly statement of TCS for the quarter ending December 31, 202315.01.2024
8​Quarterly statement in respect of foreign remittances (to be furnished by authorized dealers) in Form No. 15CC for quarter ending Dec., 202315.01.2024
9​Due date for furnishing of Form 15G/15H declarations received during the quarter ending December, 202315.01.2024
10​Quarterly TCS certificate in respect of quarter ending December 31, 202330.01.2024
11​​Due date for furnishing of challan-cum-statement in respect of tax deducted under section 194-IA in the month of December, 202330.01.2024
12​Due date for furnishing of challan-cum-statement in respect of tax deducted under section 194-IB in the month of December, 202330.01.2024
13Due date for furnishing of challan-cum-statement in respect of tax deducted under section 194M in the month of December, 202330.01.2024
14​​Quarterly statement of TDS for the quarter ending December 31, 202331.01.2024
15​Quarterly return of non-deduction at source by a banking company from interest on time deposit in respect of the quarter ending Dec. 31, 202331.01.2024
16​​Intimation under section 286(1) in Form No. 3CEAC, by a resident constituent entity of an international group whose parent is non-resident​31.01.2024

2. Compliance Requirement under GST, 2017 for January, 2024

Sl.Compliance ParticularsDue Dates
1Filing of GSTR –3B / GSTR 3B QRMPTaxpayers having aggregate turnover > Rs. 5 Cr. in preceding FYDue Date for filling GSTR – 3B return for the month of Dec, 2023 for the taxpayer with Aggregate turnover exceeding INR 5 crores during previous year.20.01.2024
Taxpayers having aggregate turnover upto Rs. 5 crores in preceding FY [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.]Due Date for filling GSTR – 3B return for the month of Dec, 2023 for the taxpayer with Aggregate turnover upto INR 5 crores during previous year and who has opted for Quarterly filing of GSTR-3B22.01.2024
Taxpayers having aggregate turnover upto Rs. 5 crores in preceding FY [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.]Annual Turnover Up to INR 5 Cr in Previous FY But Opted Quarterly Filing24.01.2024
2Filing Form GSTR-1Monthly return (Dec., 2023)GST Filing of returns by registered person with aggregate turnover exceeding INR 5 Crores during preceding year.11.01.2024
Registered person, with aggregate turnover of less then INR 5 Crores during preceeding year, opted for monthly filing of return under QRMP.11.01.2024
3Non Resident Tax Payers, ISD, TDS & TCS TaxpayersGSTR-5 & 5ANon-resident ODIAR services provider file Monthly GST Return20.01.2024
GSTR -6Every Input Service Distributor (ISD)13.01.2024
GSTR -7Return for Tax Deducted at source to be filed by Tax Deductor10.01.2024
GSTR -8E-Commerce operator registered under GST liable to TCS10.01.2024
4GSTR – 1 QRMP monthly / Quarterly returnDetails 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.13.01.2024
Summary of outward supplies by taxpayers who have opted for the QRMP scheme.13.01.2024
5Statement of inward supply of goods or services or both received by UIN holdersGSTR 11GSTR-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.28.01.2024
6Monthly Payment of GSTCMP-08Form 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, 2023]18.01.2024
7GST Amnesty scheme – AppealsIn a bid to assist taxpayers grappling with Goods and Services Tax (GST) issues, the Central Board of Indirect Taxes and Customs (CBIC) has introduced a significant amnesty scheme. This initiative allows specified GST taxpayers to lodge appeals against GST tax demand orders until January 31, 2024.31.01.2024