In the dynamic world of business, mastering the October 2023 Compliance Calendar is paramount. This article provides an organized compilation of essential due dates related to GST, Income Tax, ESI, PF Acts, and FEMA for October 2023. Staying well-informed about this Compliance Calendar is vital to ensure the seamless operation of your business and prevent penalties. Let’s explore this October 2023 Compliance Calendar to make you a breeze.
Understanding the October 2023 Compliance Calendar
Unveiling the October 2023 Compliance Calendar is like deciphering a roadmap to your financial responsibilities. Below, we’ll break down the key dates and actions you need to be aware of within the October 2023 Compliance Calendar:
A. GST Compliance Deadlines for October 2023Â
GSTR-3B – Monthly GST Return
For Taxpayers with Annual Turnover More than Rs 5 crore & For Taxpayers not opting for QRMP Scheme with Turnover up to 5 crores:
- Return for the Month: SEP-2023
- Due Date: 20-OCT
For Taxpayers opting for QRMP Scheme with Turnover up to 5 crores – Category I:
- SEP Quarter
- Due Date: 22-OCT
For Taxpayers opting for QRMP Scheme with Turnover up to 5 crores – Category II:
- SEP Quarter
- Due Date: 24-OCT
GSTR-1 – Turnover Return for Month / Quarter
For Taxpayers with Turnover ABOVE INR. 5.00 Crore & For Taxpayers not opting for QRMP Scheme with Turnover up to 5 crores:
- SEP-2023
- Due Date: 11-OCT
For Taxpayers who have opted for QRMP:
- SEP-2023
- Due Date: 13-OCT
Other GST Deadlines in October
- 13-10-2023: Due date for filing GSTR-5 (to be filed by Non-Resident taxable person) for SEP month
- 18-10-2023: CMP-08 (SEP Quarter) – The Due Date for filing Form CMP-08 for Composition Dealers
- 20-10-2023: Due date for filing GSTR-5A (to be filed by the OIDAR) for SEP month
- 13-10-2023: Due date for filing GSTR-6 (to be filed by Input Service Distributor for SEP month.
- 10-10-2023: Due date for filing GSTR-7 (to be filed by the person who is required to deduct TDS under GST for SEP month
- 10-10-2023: Due date for filing GSTR-8 (to be filed by the e-commerce operators required to deduct TDS under GST for SEP month
- RFD-10: 18 Months after the end of the quarter for which a refund is to be claimed.
B. Income Tax Obligations in October 2023
Key Dates for Income Tax:
- 07-10-2023: Due date for deposit of Tax deducted by an assessee other than an office of the Government for the month of SEP.
- 15-10-2023: Due date for issue of TDS Certificate for tax deducted u/s 194-IA (TDS on Immovable property) in m/o AUG
- 15-10-2023: Due date for issue of TDS Certificate for tax deducted under section 194-IB (TDS on Certain Rent payment) in m/o AUG
- 15-10-2023: Due date for issue of TDS Certificate for tax deducted under section 194-M (TDS on payment to resident contractor or resident) in m/o AUG
- 15-10-2023: Due date for issue of TDS Certificate for tax deducted under section 194-S (On payment for transfer of a virtual digital asset) in m/o AUG
- 15-10-2023: Quarterly statement of TCS deposited for the Sep quarter
- 15-10-2023: Quarterly TCS certificate in respect of tax collected by any person for the June quarter
- 15-10-2023: Quarterly TDS certificate (in respect of tax deducted for payments other than salary) for the June quarter
- 30-10-2023: Quarterly TCS certificate (in respect of tax collected by any person) for the Sep quarter
- 31-10-2023: Quarterly statement of TDS deposited for the Sep quarter
- 30-10-2023: Last date for furnishing of challan-cum-statement in respect of tax deducted under section 194-IA, 194-IB, 194M, 194S in the month of SEP
- 31-10-2023: Due date for filing of return of income for AY 2023-24 (Extended to November 30, 2023, for certain cases)
- 31-10-2023: Audit report under section 44AB for the AY 2023-24 in specific cases
C. ESI and PF Compliance for October 2023
Key Dates for ESI and PF:
- 15-10-2023: ESIC Payment for m/o SEP 2023
- 15-10-2023: PF Payment for m/o SEP 2023
D. Companies Act Compliance in October 2023
Key Dates under the Companies Act:
- 14-10-2023: Due date for filing of ADT-1
- 29-10-2023: Due date for filing of AOC 4 for Financial Statements
- 31-10-2023: Due Date for Filing Form MSME-1 for the period of April to September.
- 31-10-2023: Due date for Form 8 FOR LLP
Mastering the October 2023 Compliance Calendar is your roadmap to success in this dynamic business environment. By keeping these crucial dates in mind, you can navigate your financial obligations seamlessly. Stay proactive and informed to ensure a smooth and penalty-free journey through October 2023!
Don’t miss out on this opportunity to make October 2023 a month of compliance success for your business!
