Income tax department had introduced Rule 17AA on 10-08-2022 in respect of books and documents that are to be maintained by every organization that enjoy tax benefit.
This is a mandatory requirement. Failure to keep books of accounts and documents prescribed by the Rule will disqualify the organization for Tax exemption.
Rule 17AA prescribes the following registers/books to be maintained apart from regular Cash book, bank book, ledger, Journal Register, vouchers (serially numbered), Receipt Books etc.
These Books and Records require to be kept at the Registered Office of the Organization.

These books can be in manual form or in electronic mode.
These books, records require to be preserved for at least 11 years.
1. Record of all Projects of the Organization
2. Record of Income of the Organization
3. Record on details of Application of Income
4. Record on Inter Charity Donations
5. Record of application of Income outside India
6. Record of deemed application of Income u/s 11(1) explanation (2)
7. Record of accumulation of Income u/s 11(2)
8. Record of Investment of funds
9. Records relating to Corpus Donations
10. Records relating to loans and borrowings
11. Records relating to Properties
12. Records relating to transactions with ‘specified persons’

Most business leaders tend to focus on their tasks, their own success, and the bottom line. Frequently unkind to subordinates.

One of our Clients became concerned that customer service was a growing problem since the company had earned the reputation of treating customers rudely. He hired a consultant to discover the cause. After dozens of interviews, the consultant shared his conclusion.

“You are the problem”. The way you treat your employees is the way they are treating your customers.

Philippians 2:3-4 tells us how we should view others.

It says, “Do nothing from selfishness or empty conceit, but with humility of mind regard one another as more important than yourselves; do not merely look out for your own personal interests, but also for the interests of others.”
These verses contain three radical commands that are impossible to obey apart from yielding to the Lord. When we carefully study them.

1. Do nothing from selfishness or empty conceit. ” We are to do absolutely nothing from selfishness or because of pride.

2. But with humility of mind regard one another as more important than yourselves. ” We are to think of everyone as more important than ourselves.

3. Do not merely look out for your own personal interests, but also for the interests of others. ” We are not to focus exclusively on doing what is important to us, but also factor in how we can serve the interests of others.

With this passage as the standard, how would we rate ourselves as a leader (on a scale of 1-10, with 10 being the best) who thinks of others as more important than yourself?

1. If your total income exceeds the basic exemption limit of Rs. 2,50,000/-.

2. If you have assets outside India.

3 If you deposit more than Rs .1 crore in a bank account.

4. If you incur Rs. 2 lakh on foreign travel.

5. If your electricity Consumption is Rs. 1 lakh per annum.

6. If the Turnover of your business is more than Rs. 60 lakh in a year.

7. If Gross Receipt from Profession is more than Rs. 10 lakh.

8. If TDS is Rs. 25,000 or more

9. If TCS is Rs. 50,000 or more.

10. If the deposit in a saving bank account is Rs.50 lakh or more

Please Note: The last date for filing ITR is 31-07-2022

1. ELSS: An ELSS is the only kind of mutual fund eligible for tax benefits under Section 80C. Returns 12 to 15% Lock in 3 years

2. NPS: National Pension System (NPS) is a retirement benefit Scheme introduced by the Government of India to facilitate a regular income post retirement to all the subscribers. Returns 8 to 10% Lock in Till age 60.

3. ULIP: ULIP is an insurance plan that offers the dual benefit of investment to fulfil your long-term goals, and a life cover to financially protect your family in case of an unfortunate event. Returns 7 to 8 % Lock in 5 years.

4. Tax saving FD : Many banks offer a five-year FD scheme that is meant for tax saving. One can claim an income tax deduction by investing money in a five-year FD scheme. Returns 5 to 6% Lock in 5 years.

5. PPF : Public Provident Fund (PPF) is a retirement savings scheme with the aim of providing a secure post-retirement life to everyone. The minimum deposit you must make in the account per financial year is Rs. 500 and it can go up to Rs. 1.5 lakh. Returns 7.1 % Lock in 5 years

6. Senior citizen savings scheme : The Senior Citizens’ Savings Scheme (SCSS) is a government scheme that helps seniors save money for retirement and receive quarterly interest payments. Returns 7.4% Lock in 5 years.

7. NSC : National savings and investment is a government backed form of savings account, meaning that they offer a secure way to store your money. Returns 6.8% Lock in 5 years.

8. Sukanya Samriddhi Scheme : Your contributions towards the Sukanya Samriddhi Yojana for your daughter’s future are eligible for tax deductions. Returns 7.6% Lock in Till girl child reaches 21 years of age.

9. Life Insurance Premium : Premium payments made towards Life insurance policies. Low Returns but Risk Cover

10. EPF : Employees’ Provident Fund is a retirement benefit scheme maintained by the Employees’ Provident Fund Organization (EPFO). The employee and the employer contribute to the EPF scheme on monthly basis in equal proportions of 12% of the basic salary and dearness allowance.

11. Five-Year Post Office Time Deposit : Income tax benefits are available only for a 5-year post office time deposit account. Returns 6.7% Lock in 5 years.

12. Tuition fees paid for children’s education : For up to 2 children, tuition fees paid in the entire academic year per child are tax-deductible. Paid to any university, college, school or other educational institution situated within India.

13. Repayment of the principal amount of a home loan : An individual is entitled to tax deductions on the amount paid as repayment of the principal component on the housing loan.

14. Stamp Duty and Registration Charges paid for House Property: Stamp duty and registration charges and other expenses which are directly related to the transfer are allowed as a deduction.

15. Deferred annuity : Annuity plan contribution made on on the life of persons, or contract for such annuity plan of the Life Insurance Corporation

16. Superannuation fund : A contribution by an employee to an approved superannuation fund.

17. Pension Fund : Contribution to a pension fund set up by any Mutual Fund.

18. National Housing Bank: Subscription to any such deposit scheme of, or as a contribution to any such pension fund set up by, the National Housing Bank

19. Approved IPO Government: Contribution or subscription to equity shares or debentures forming part of any eligible issue of capital approved by the Government and Notified.

20.Bonds: Bonds issued by the National Bank for Agriculture and Rural Development (NABARD)

21. Pension Scheme for Govt Employee: Employee of the Central Government, as a contribution to a specified account of the pension scheme.

22 . Infrastructure bonds: Infra bonds as they are commonly called, Infrastructure bonds are issued not by the government but by infrastructure companies.

23. NABARD Rural Bonds: NABARD, or the National Bank for Agriculture and Rural Development, offers two kinds of bonds, viz. Bhavishya Nirman Bonds and NABARD Rural Bonds.

24. Any other Funds Approved by Govt and Notified: There are many other Pension Fund / Bonds / Govt Company who can issue scripts which qualify for 80C

Tax Deducted at Source (TDS) on benefits received from business for sales promotion will be applicable to doctors. The Central Board of Direct Taxes (CBDT) has released guidelines on the applicability of the new provision. The Union Budget had brought in the provision of TDS on such income to check tax revenue leakage by inserting a new section, 194R, in the Income Tax Act, 1961. It requires TDS at 10 percent for any person providing benefits exceeding Rs 20,000 in a year to a resident.

CBDT clarifies that in case of doctors receiving free samples of medicines while employed in a hospital, Section 194R would apply on distribution of free samples to the hospital. The hospital as an employer may treat such samples as taxable perquisite for employees and deduct tax under Section 192. In such cases, the threshold of ₹ 20,000 has to be seen with respect to the hospital.

For doctors working as consultants with a hospital and receiving free samples, TDS would ideally apply on hospital first, which in turn would require to deduct of tax under Section 194R with regard to consultant doctors.

Section 194R will not apply if the benefit or perquisite is provided to a government entity, like a government hospital, not carrying on business or profession, said CBDT.

RULE 21 OF THE CGST RULE, 2017

The registration granted to a person is liable to be canceled, if the said person, -

a) does not conduct any business from the declared place of business; or
b) Issues invoice or bill without supply of goods or services or both in violation of the provisions of this Act, or the rules made thereunder; or
c) Violates the provisions of section 171 of the Act or the rules made thereunder. [Section 171 Anti-Profiteering measure]
d) Violates the provision of rule 10A
[Rule 10A Furnishing of Bank Account Details]
e) Avails input tax credit in violation of the provisions of section 16 of the Act or the rules made thereunder; or
f) Furnishes the details of outward supplies in FORM GSTR-1 under section 37 for one or more tax periods which is in excess of the outward supplies declared by him in his valid return under section 39 for the said tax periods; or
g) Violates the provision of rule 86B.
[Rule 86B Restrictions on use of amount available in electronic credit ledger]

—–Happy Learning——-

COMPLIANCE CALENDER FY 2022-23
“S.
No.” Statute Purpose Compliance Period Due date Compliance Details Status
1 FCRA Quarterly Intimation Apr-Jun 15th July,2022 “File quarterly intimation online on MHA website/own website to intimate the FC Receipts in the FC
designated Bank Account.”
2 Quarterly Intimation Jul-Sept 15th October,2022 “File quarterly intimation online on MHA website/own website to intimate the FC Receipts in the FC
designated Bank Account.”
3 Quarterly Intimation Oct-Dec 15th January,2022 “File quarterly intimation online on MHA website/own website to intimate the FC Receipts in the FC
designated Bank Account.”
4 Quarterly Intimation Jan-Mar 15th April,2022 “File quarterly intimation online on MHA website/own website to intimate the FC Receipts in the FC
designated Bank Account.”
5 Annual Return Apr-Mar 31st December,2022 “File Annual Return in the Form FC-4 within 9 months from the date of closing of the Financial Year
(unless date is further extended)”
6 COVID Form Every month 15th of every month “Any expenditure incurred towards COVID Relief to be reported every month on cumulative basis (Total
Expenditure to date) on FCRA Portal.”
7 FC Renewal “Atleast 6 months before
expiry of registration / renewal validity” “All organizations registered under FCRA,2010 need to apply for FC Renewal in the Form FC-3C
atleast 6 months before the expiry. The online portal opens usually 1 year before the expiry of the validity.”
8 “New Another FCRA
Bank Account” “Within 15 days of opening
account” To be intimated online in Form FC-6C on FCRA Portal
9 “New Utilization Bank
Account” “Within 15 days of opening
account” To be intimated online in Form FC-6D on FCRA Portal
10 Change of Address “Within 15 days of change of
address” To be intimated online in Form FC-6A on FCRA Portal
11 “Change of Board
Members” “Within 15 days of change of
address” To be intimated online in Form FC-6E on FCRA Portal
12 Income Tax ITR-7 Every year 30th September,2022 “For all organizations registered under 12A, need to submit ITR-7 within 6 months from the close of the
Financial Year. Due date:- 30th Sept or the date extended from time to time”
13 ITR-5 Every year 31st July,2022 “For Charitable Society / Trust not registered under 12A, need to submit ITR-5 within 4 months from the
close of Financial Year. Due Date:- 31st July or the date extended from time to time”
14 ITR-6 Every year 31st July,2022 “For Charitable Company (Sec 8 Company) not registered under 12A, need to submit ITR-6 within 4
months from the close of the Financial Year. Due Date:- 31st July or the date extended from time to time”
15 ITR-1 Every year 31st July,2022 “For salaried individuals, need to submit ITR-1 within 4 months from the close of the Financial Year.
Due Date:-31st July or the date extended from time to time”
16 ITR-3 Every year 31st July,2022 “For individuals having income from Profits and Gains from Business or Profession, need to submit ITR-
3 within 4 months from the close of the Financial Year. Due Date:- 31st July or the date extended from time to time”
17 ITR-4 Every year 31st July,2022 “For individuals having income from Profits and Gains from Business or Profession & offering income
on presumptive basis under sections 44AD, 44ADA, need to submit ITR-4 within 4 months from the close of the Financial Year. Due Date:- 31st July or the date extended from time to time”
18 TDS Returns Apr-Jun 30th April,2022 Quarterly TDS Returns-Electronic
19 TDS Returns Jul-Sept 31st October,2022 Quarterly TDS Returns-Electronic
20 TDS Returns Oct-Dec 31st January,2022 Quarterly TDS Returns-Electronic
21 Income Tax TDS Returns Jan-Mar 31st May,2022 Quarterly TDS Returns-Electronic
22 TDS Payments Monthly “7th every month/
30th April (for March)” “Tax deducted every month shall be deposited by 7th of next month.
Exception: March month TDS can be deposited by 30th April”
23 TDS Certificate Apr-March 31st May,2022 Form 16
24 TDS Certificate Apr-March 15th June,2022 Form 16A
25 Equalisation Levy Deposit For the month of deduction 7th of next month of deduction “Equalisation Levy is a direct tax, which is withheld at the time of payment by the service recipient
where the Annual payment made to one service provider (Non-Residents only) exceeding a sum of Rs.1,00,000/- in one Financial Year for the specified and notified services.”
26 GST GSTR -1 Monthly 11th of every month “Filing of GST returns by registered person with aggregate turnover exceeding INR 5 Crores during
preceding year.”
27 GSTR -1 Monthly 11th of every month “Filing of GST returns by Registered person, with aggregate turnover of less than INR 5 Crores
during preceding year, opted for monthly filing of return under QRMP”".”
28 GSTR – 3B Monthly “20th of every month
end” “Filing of GST returns by registered person with aggregate turnover exceeding INR 5 Crores during
preceding year.”
29 GSTR – 3B Quarterly Return “20th of every quarter
end” “Registered person, with aggregate turnover of less then INR 5 Crores during preceding year, opted for
monthly filing of return under QRMP.”
30 GSTR -1 QRMP Quarterly Return “13th of every Quarter
end” “Filing of Quarterly return for registered person with turnover less than INR 5 Crores during preceding
year and who has opted for quarterly filing of return under QRMP.”
31 Labour Law Provident fund / ESI Every Month 15th of next month Due Date for payment of Provident fund and ESI contribution for the previous month.
32 Professional Tax Professional Tax Every Month 10th of next month Due Date for payment of Professional Tax for the previous month.
33 IEC Import Export Code Annual 30th June every year Every Organization holding Import Export Code need to file updation every year online
34 ROC Returns AOC 4 Annual 30th October,2022 “Every Sec 8 company and Private Limited Companies need to file the Annual return with Ministry of
Corporate Affairs”
35 MGT 7A Annual 29th November,2022 “Every Sec 8 company and Private Limited Companies need to file the Annual return with Ministry of
Corporate Affairs”
36 MCA Compliance Director KYC Annual 30th September,2022 “Every Director holding DIN has to do their KYC Annually.
(This has to be done even if any DIN holder is not a director of any company)”
37 DPT-3 Annual 30th June,2022 Any company who has accepted loans & deposits shall file this return.

INCOME TAX

• There are no specific changes in basic rates of taxation on income for all categories of the assessee

• New section 139 (8A) is proposed which will allow taxpayers to file Updated Return within 2 years for correcting
errors or omissions by making payment of additional tax as described under new Section 140B

• Retrospective clarification from 1st April 2005, that any surcharge or cess on income and profits is not
allowable as business expenditure

• Tightening the requirement of two years windows to one year by amending sections 206AB and 206CCA in
relation to “specified person”

• Reduce the surcharge on co-operative societies from 12% to 7 % for those having
total income of more than 1 crore and up to 10 crores

• Surcharge on Long Term Capital Gains on the transfer of any type of asset to be capped at 15%.

• Alternate Minimum Tax (AMT) to be reduced to 15% for co-operative societies

• Virtual Digital Asset (VDA) (Crypto-Currency):
- a virtual digital asset is proposed to mean any information or code or number or token (not being Indian
currency or any foreign currency), generated through cryptographic means or otherwise
- Income from transfer of any VDA shall be taxed at the rate of 30%
- No deduction in respect of any expenditure (other than cost of acquisition)
- No set off of any loss on transfer of VDA shall be allowed against any other income
- No carried forward of such loss shall be allowed to be to subsequent assessment years
- TDS u/s 194S on payment for transfer of VDA to a resident at the rate of 1%
- Gift of virtual digital asset is also proposed to be taxed in the hands of the recipient

• New section 158AB to reduce the amount of litigation where the identical case is available or pending in appeal
before the Supreme Court or High Court against the order of the Commissioner (appeals) for other assessees

• No set-off of any loss shall be allowed against undisclosed income detected during search and survey
operations

• New section 194R to be inserted to provide that the person responsible for providing any benefit or perquisite
whether convertible into money or not shall ensure TDS to be deducted at the rate of 10% on such benefit or
perquisite

• To amend explanations under section 94, pertaining to the prevention of tax evasion through bonus stripping or
dividend stripping

• To withdraw concessional rate of taxation under Section 115BBD of 15% on
dividend income received by an Indian company from a foreign company

• New section 239A provides filing of an application for refund of wrongly deducted TDS for NRI

• Extension of the last date for commencement of manufacturing or production under section 115BAB from 31st
March, 2023 to 31st March, 2024

• Extension of the period of incorporation of the eligible start-up by one year i.e. up to 31.03.2023 for providing
such tax incentives.

• Incentivise operations from IFSC by providing additional incentives

• The conversion of interest payable into debenture or loan shall not be deemed to have been actually paid

• Increase the tax deduction limit from 10% to 14 % on employer’s NPS contribution of State
Government employees

• Deduction u/s 80DDB to include payment of the annuity or lump sum during the
lifetime of parent or guardian, once the parent or guardian has attained 60 years

• It is proposed to exempt the amount received for medical treatment and on account of death due to COVID-19
by the family members

• Other changes made in the following provisions:
- Rationalization of provisions relating to assessment and reassessment
- Clarification is brought to disallow expenses incurred during the previous year under section 14A where exempt
income is not accrued or arisen during the previous year
- Extension and amendments are made in Faceless Assessment
- Rationalisation of the provision of Charitable Trust and Institutions
- Reduction of Goodwill from block of assets to be considered as transfer
- It is proposed to amend section 194-IA to provide that in case of transfer of an immovable property TDS is to be
deducted at 1% of such sum credited to the resident or the stamp duty value of such property, whichever is
higher
- To deduct TDS by the person giving benefits to its agents if the aggregate value of such benefits exceeds
20,000 during the financial year
- Surcharge of AOP’s has been reduced from 37% to 15%

GST

• No changes on GST Rate specified
• It is proposed to amend the due date of availing ITC of previous year up to 30th November.
• ITC can be availed only if the same is reflected in GSTR-2B
• Composition Tax Payer’s Registration can be cancelled suo-moto if they have not filed their return beyond 3
months from the due date
• Credit Notes in respect of supply made in a financial year can be issued by 30th November of next financial
year
• Any rectification of error in GSTR-1/ GSTR-3B is now permitted till 30th November of next financial year
• Non-resident taxable person needs to submit returns by 13th instead of 20th of next month
• Levy of late fee for delayed filing of TCS returns
• To allow transfer of amount available in cash ledger from one branch to another branch
• Government is empowered to cap on the maximum proportion of output tax liability which may be discharged through the electronic credit ledger and impose restrictions for utilizing the amount available in the electronic credit ledger
• Retrospective effect to amend the levy of interest from 24% to 18% towards the wrong claim of input tax credit availed from 1st July 2017
• Correction in TCS return will be allowed till 30th November of next financial year
• Embassy / consulates / UIN holders can claim refund of ITC availed within 2 years from previous period of 6 months
• Application for Refund of ITC can now be made by all taxpayers instead of only
export and differential tax rate taxpayers

CUSTOMS

• Customs administration to be fully IT driven in SEZs on the Customs National Portal
• Phasing out concessional rates in capital goods and project imports gradually and apply a moderate tariff of 7.5%
• A few exemptions are being introduced on inputs, like specialized castings, ball screw and linear motion guide, to encourage domestic manufacturing of capital goods
• Customs duty rates are being calibrated to provide a graded rate structure to facilitate domestic manufacturing of wearable devices, hearable devices and electronic smart meters.
• Duty concessions are also being given to parts of transformer of mobile phone chargers and camera lens of mobile camera module and certain other items
• Rationalisation of exemptions on implements and tools for agri-sector manufactured
in India
• Extension of customs duty exemption to steel scrap
• Reduction of duty on certain inputs required for shrimp aquaculture
• Duty on cut and polished diamonds and gemstones is being reduced to 5 per cent
• Simply sawn diamond would attract nil customs duty
• Duty on imitation jewellery is being prescribed in a manner that a duty of at least 400 per Kg
• Customs duty on certain critical chemicals namely methanol, acetic acid and heavy feed stocks for petroleum refining are being reduced, while duty is being raised on sodium cyanide
• Duty on umbrellas is being raised to 20 per cent
• New exemptions are being provided on items such as embellishment, trimming, fasteners, buttons, zipper, lining material, specified leather, furniture fittings and packaging boxes
• Unblended fuel shall attract an additional differential excise duty of Rs. 2/litre from
the 1st day of October 2022

OTHER LAWS
• Introduction of Central Bank Digital Currency (CBDC) by RBI starting 2022-23.
• The Special Economic Zones Act will be replaced with a new legislation that will enable the states to become partners in ‘Development of Enterprise and Service Hubs
• Unique Land Parcel Identification Number for IT based management of land records.
• Establishing C-PACE to facilitate voluntary winding up of companies
• End to end online e-Bill System and utilising surety bonds in government procurement
• To promote clean tech and governance solutions, special mobility zones with zero fossil-fuel policy, EV vehicles and considering battery swapping policy
• Udyam, e-Shram, NCS and ASEEM portals will be interlinked
• Green Bonds to mobilise resources for green infrastructure
• Blended Finance for sunrise sectors
• Integration of central and state level systems through IT bridges
• Expanding scope of PARIVESH Portal

OTHER KEY ANNOUNCEMENTS

• PM GatiShakti is a transformative approach for economic growth and sustainable development. The approach is driven by seven engines namely, Roads, Railways, Airports, Ports, Mass Transport, Waterways, and Logistics Infrastructure.
• Issuance of chip embedded e-Passports
• Extending ECLGS with focus on hospitality and related enterprises
• 100% of post offices to come on the core banking system
• To fund infrastructure and social development based on felt needs of the North East
• 80 lakh houses to be completed in 2022-23
• National Digital Health Ecosystem will be rolled out
• Mission Shakti, Mission Vatsalya, Saksham Anganwadi, and Poshan 2.0 to be launched
• Digital Ecosystem for Skilling and Livelihood (DESH-Stack e-portal) will be launched to promote online training
• Startups will be promoted to facilitate Drone Shakti for Drone-As-A-Service
• Promoting chemical free natural farming starting with farmers’ lands close to river Ganga
• Launching fund with blended capital to finance agriculture start ups

INCOME TAX
▪️07th Dec 2021- TDS deducted /TCS collected for the month of November 2021

▪️15th Dec 2021- Due date for issue of TDS Certificate for tax deducted under section 194-IB/194-IA/194-M in the month of October, 2021.

▪️15th Dec 2021- Third installment of advance tax for the AY 2022-23

▪️30th Dec 2021- Furnishing of challan-cum-statement in respect of tax deducted under section 194-IA/194-IB/194M for the month of November, 2021.

▪️ 30th Dec 2021- Extended due date for filing of ITR for AY 21-22 for non audited cases.

▪️ 31st Dec 2021- Extended due date for Equalization Levy Statement in Fom No.1 for the Financial Year 2020- 21.

▪️ 31st Dec 2021- Extended due date for Uploading of declarations received from recipients in Fom No. 15G/15H for quarter ending 30th September, 2021,

▪️ 31st Dec 2021- Extended due date for Quarterly statement in Fom No. 15CC to be furnished by authorized dealer in respect of remittances made for the quarter ending on 30th September, 2021.

▪️ 15th Jan 2022- Extended due date for filing of Tax Audit report for AY 21-22.

▪️ 15th Jan 2022- Extended due date for filing of Transfer pricing Audit report for AY 21-22.

▪️ 15th Feb 2022- Extended due date for filing of returns of Tax audit for AY 21-22.

▪️ 28th Feb 2022- Extended due date for filing of returns of Transfer pricing audit for AY 21-22.

▪️ 31st Mar 2022- Belated tax returns of AY 21-22

▪️ 31st March 2022- Extended date for application for registration or intimation or approval under Section 10(23C), 12A, 35(1i)/(iay(ii) or 80G in Fom No. 10A.
GST

▪️11th Dec 2021-Due date of filling GSTR-1 for the month of November- 2021 who does not opt QRMP (Quarterly Return Filing and Monthly Payment of Taxes) Scheme under GST.

▪️13th Dec 2021-Due date of filling Sales Invoice / Credit Notes for the month of November- 2021 who opted QRMP (Quarterly Return Filing and Monthly Payment of Taxes) Scheme under GST l

▪️20th Dec 2021-Due date of filling GSTR-3B by registered person filling monthly return for the month of November,2021 (for Maharashtra and Chattisgarh state)

▪️25th Dec 2021- GST payment for the month of Novemebr 2021 under QRMP scheme.

▪️. 31st Dec 2021- Due date of filling Annual return (GSTR-9) and audit (GSTR-9C) for FY 2020-21

ESI/PF

▪️15th Dec 2021- Due date for payment of Provident Fund, ESI contribution for employers who have paid wages to their employees for November 2021.

▪️25th Dec 2021- Due date of filing of return for month of November.

PROFESSIONAL TAX

▪️31st Dec 2021- Due date for payment of PT for the month of December where tax liability is more than Rs.100,000/-.

ROC

▪️ 14th Dec 2021- Due date for filling ADT-1 for auditor re-appointment

▪️ 30th Dec 2021- Due date for filing Form 8 (Annual Filling) for LLP

▪️ 31st Dec 2021- Due date for filing AOC-4 for FY 2020-21

Composite supply of works contract supplied to Government authority or Government entity by way of construction, erection, commissioning, installation, completion, fitting out, repair, maintenance, renovation, or alteration of any historical monument, archaeological treatment or disposal will be taxable @ 18% from 1st January 2022. The treatment will be the same in case the services are provided by a sub-contractor to the main contractor who is providing such construction services to the Government entity. Prior to this change, such services to both local and Government authority were taxable @12%.

Composite supply of works contract involving predominantly earthwork (that is, constituting more than 75% of the value of the works contract) provided to the Governmental Authority or a Government Entity will be taxable @18% from 1st January 2022 onwards, provided that where the services are supplied to a Government Entity, they should have been procured by the said entity in relation to a work entrusted to it by the Central Government, State Government, Union territory or local authority, as the case may be.
The term “Earth Work” has not been defined under any GST provisions. Earthwork is basically engineering works through the processing of parts of the earth’s surface involving quantities of soil or unformed rocks. The work order should be specifically for supply of services with material and when the major part of the contract involves earthwork i.e., more than 75%, providing to a Government authority or a Government Entity which is currently taxable at the rate of 5%. The treatment will be the same in case the services are provided by a sub-contractor to the main contractor who is providing such construction services to the government entity.