Income Tax and GST Compliance Calendar for the month of August 2022

August is a month of celebrations and independence.

Due to all the impending celebrations, including Raksha Bandhan, Parsi New Year, Muharram, Ganesh Chathurthi, and most significantly, Independence Day on the 15th, August gives us a chance to enjoy and rest a little after a busy first half of 2022.

Being a business owner entails a variety of duties and obligations. To be a law-abiding citizen, one must follow all rules and regulations set forth by the government. In order to continue doing business in India, a corporation must follow a number of compliances. It is important for businesses to stay compliant with various compliance during the month.

Please refer to various due dates for the month of August 2022

Important deadlines for GST returns due in August 2022

GSTR- 1 ( Due Date 11 Aug 2022)

For taxpayers with a yearly aggregate turnover of more than INR 1.5 crore or those who have chosen to file monthly returns, the deadline to submit the GSTR-1 form is August 11, 2022.

GSTR- 3B ( Due Date 20 Aug 2022)

More than INR 5 crore in annual revenue in the prior fiscal year | July 2022

GSTR- 5 ( Due Date 20 Aug 2022)

The GSTR-5 and GST payment must both be submitted by all non-residents by the deadline of August 20, 2022, for the month of July 2022.

GSTR- 6 ( Due Date 13 Aug 2022)

Every Input Service Distributor (ISD) is required to submit Form GSTR-6 by the specified deadline of August 13 for the month of July 2022.

GSTR- 7 ( Due Date 10 Aug 2022)

The 10th of August is the deadline for submitting GSTR 7 for the month of July 2022.

GSTR- 8 ( Due Date 10 Aug 2022)

For registered Indian e-commerce taxpayers who are required to pay TCS, the deadline for submitting GSTR 8 for the month of July 2022 is on or before August 10th

Important deadlines for Income Tax / PF / ESIC due in August 2022

Challan No. ITNS-281 (Due Date 07 Aug 2022)

TDS/TCS payments that were deducted or collected in July 2022

TDS Certificate (Due Date 14 Aug 2022)

Date by which TDS Certificates for taxes deducted under Sections 194IA, 194IB, and 194M in the month of June 2022 must be issued

Quarterly TDS Certificate (Due Date 15 Aug 2022)

Quarterly TDS Certificate for Tax Taken From Payments Other Than Salary for the Quarter Ending June 30, 2022

Provident Fund and ESIC (Due Date 15 Aug 2022)

Payment for PF and ESIC for July 2022

TDS Section (Due Date 30 Aug 2022)

Due date for submitting challan-cum-statements for taxes deducted under sections 194-IA, 194-M, and 194-IB for the month of July 2022

The month of August 2022 is crucial for the due dates for various compliances under the Goods and Service Act, Income Tax Act, Companies Act, and LLP Act. Filing the above-mentioned forms on or before the due dates will save the Taxpayers from hefty penalties.

Do contact J&S Team in case you would require any clarification on the same.