What happens if I miss the GSTR-3B due date?

Late filing of GSTR-3B attracts a late fee of ₹50 per day (₹25 CGST + ₹25 SGST) subject to a maximum of ₹5,000. Additionally, interest @18% p.a. is applicable on the tax amount from the due date to the actual date of payment. Repeated delays may lead to cancellation of GST registration and blocking of e-way bill generation.

Can I revise my GST return if I made a mistake?

GSTR-3B cannot be revised. However, errors in GSTR-3B can be rectified in the subsequent return. For errors in GSTR-1, you can amend it in the next return filed. For significant errors, it's advisable to consult a tax professional to determine the best course of action.

What is the due date for filing TDS returns for the last quarter?

The due date for filing TDS returns for the January-March quarter is 31st May of the following financial year. For TDS deducted in March 2025, the return must be filed by 31st May 2025.

Is there any penalty for late filing of income tax return?

Yes, if you file your income tax return after the due date (usually 31st July for non-audit cases), a late filing fee of up to ₹5,000 is applicable. If your total income is less than ₹5 lakh, the maximum fee is ₹1,000. Additionally, interest under section 234A is applicable if there is tax payable.

What are the consequences of not holding board meetings as per Companies Act?

Companies are required to hold a minimum of four board meetings in a year with a maximum gap of 120 days between two meetings. Non-compliance can attract a penalty of ₹25,000 on the company and ₹5,000 on each director. Repeated defaults may lead to disqualification of directors.

How can Liquetax help with my business compliance?

Liquetax offers comprehensive compliance management services including: Monthly GST return filing and advisory TDS/TCS compliance and return filing Income tax return filing and planning Company law compliance and ROC filings Labour law registrations and returns Compliance calendar and reminder system Representation before tax authorities Our team of experienced professionals ensures timely compliance, helping you avoid penalties and focus on your core business activities.

Business Guidance

Business Compliance Calendar 2025: Avoid Fines & Penalties

Stay compliant in 2025! Complete guide to business compliance deadlines for GST, Income Tax, TDS, Company Law & more. Avoid penalties with Liquetax experts.

What this guide covers

What does Business Compliance Calendar : Avoid Fines & Penalties mean in practice?
Who is affected and what should they check first?
Which documents or records should be kept ready?
What common mistakes should be avoided?