Compliance Checklist

Reports all sales invoices, B2B supplies, and debit/credit notes to enable customer input tax credit.

Reconciles input tax credit with supplier GSTR-2B, self-assesses output liability, and deposits net cash tax.

Consolidated annual return and self-certified reconciliation for registered taxpayers crossing statutory thresholds.

Mandatory for all businesses whose estimated tax liability exceeds ₹10,000 in a financial year to prevent interest under Sec 234B/C.

Deposit of tax deducted at source on contractor payments (194C), professional fees (194J), rent (194I), and salaries (192).

Detailed return of all deductor transactions; late filing attracts a mandatory ₹200/day penalty under Sec 234E.

Annual filing of audited or compiled financial accounts with the Income Tax Department.

Applies if business turnover crosses statutory limits (₹1 Cr for cash or ₹10 Cr if digital transactions exceed 95%).

Statutory submission of balance sheet, profit and loss account, auditor's report, and board report to the Ministry of Corporate Affairs.

Discloses company shareholding structure, director changes, board meetings, and statutory records to the ROC.

Mandatory annual identity verification for every active DIN/DPIN holder; non-compliance deactivates the DIN with a ₹5,000 penalty.

Mandatory statutory verification of corporate books by a Chartered Accountant under the Companies Act.

Employer deduction and deposit of employee Professional Tax based on Gujarat Commercial Tax slab rates.

Statutory professional tax paid by the entity, directors, and designated partners for trading or carrying out profession in Gujarat.

Mandatory for companies with outstanding payments to Micro or Small enterprises exceeding 45 days under Sec 15 of the MSMED Act.

Physical or digital maintenance of register of members, directors, charges, contracts, and board/AGM minutes.