STATUTORY DUE DATES FOR THE MONTH OF JULY 2023 |JUNE 2023 Commitments|
July in India is all about welcoming the Monsoon season, and giving momentum to the thirsty and tiring business industry.
This year’s July 1st marks the 6th GST Introduction Anniversary in he nation, which has played a pivotal role in the economic integration across the nation.
From the compliance perspective, July is the Critical month since the Annual Return filing Season officially begins from this month, 31st July being the due date for submitting the Annual Income tax returns for all Assessee (other than those covered under various income Tax audits)
Further to the above showstopper, enlisted below are the other applicable due dates that fall due in July 2023 for June 2023:
Important Note:
Unless otherwise notified, w.e.f 01st August 2023, E-Invoicing under GST shall be applicable for all Tax payers having Turnover> Rs. 5 Crore at anytime during the preceding previous years (since the time GST came into effect)
It is critical for all the taxpayers who have had turnovers exceeding Rs. 5crore in the past (and are presently not covered under E-invoicing Provisions) to customize their invoicing systems to ensure the Tax invoices are not invalidated for the want of IRN (generated from the E-Invoicing portal)
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