a. GSTR-1:
-
This return contains the details of the sales done by the assessee. It can be
filed on monthly and quarterly basis. Monthly return must be filed before 11th
of every next month and Quarterly return must be filed before 13th
of every next month of the quarter.
b. GSTR-3B:
- This
return contains the details related to ITC. It can also be filed on monthly and
quarterly basis. Monthly return must be filed before 20th of every
next month and Quarterly return must be filed before 24th of every
next month of the quarter.
c.
GSTR-9: - It
is the annual return that must be filed by the assessee if the turnover is
above 2 crores rupees. This return must be filed before 31st
December of the next Financial Year.
d.
GSTR-9C: - It
is also the annual return of the company that must be filed by the assessee
along with GSTR 9 if the turnover is above 5 crores rupees. This return must be
filed before 31st December of the next Financial Year.
According to the updated accounting trail rule by MCA department, from 1st April 2023 onwards every private limited company has to maintain a proper accounting software in which it has to record all its business transaction properly.
a.
Proprietorship ITR (non-tax audit): It
must be filed before 31st July of every Assessment Year.
b.
Tax Audit: Company
requiring tax audit must file its return before 30th September.
Monthly
Contributions:
Employer’s
contribution: 3.25% of employee's
wages
Employee’s contribution: 0.75% of employee's wages
(This must be
done before 15th of every month.)
5. EPFO COMPLIANCES
Monthly Contributions:
Employee's share: 12% of basic
salary
Employer's share: 12%
of basic salary (Employer's share includes contributions towards EPF, EPS, and
EDLI)
§ Out
of employer's 12% share:
§ 3.67%
goes to EPF
§ 8.33%
goes to EPS (Employees' Pension Scheme)
§ 0.5%
goes to EDLI (Employees' Deposit-Linked Insurance)
(This must be
done before 15th of every month.)