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2018 Real Calendar: CHS compliances and GST filing due dates

Saturday, January 06, 2018

The start of the New Year means using a new calendar. But do you know housing societies also need to maintain a calendar for various legal compliances, including for GST now? Ramesh S. Prabhu gives you a lowdown

Goods and Services Tax (GST) has become effective from 1st July, 2017. Co-operative housing society having registered under Maharashtra Co-operative Societies Act, 1960 also need to comply with the statutory compliances as per the Act, Rules and bye-laws. And the co-operative housing societies which come under the purview of GST have to make monthly payment, file monthly or quarterly and yearly returns depending on the turnover. Along with the GST filing due dates, managing committee members of co-operative housing societies also have to ensure certain deadlines for various legal compliances of CHS. Here we are giving you few prominent cut-off dates of compliances to be followed by every co-operative housing society in the year 2018.

Relief in GSTR compliance

  • All businesses to file GSTR-1 and GSTR-3B till March 2018.
  • GSTR-2 and GSTR-3 filing dates for July 2017 to March 2018 will be worked out later by a Committee of Officers
  • Turnover under Rs 1.5 Cr to file quarterly GSTR-1
  • Turnover above Rs 1.5 Cr to file monthly GSTR-1
  • All businesses to file GSTR-3B by 20th of next month till March 2018.

Annual Duties of the managing committee of CHS
A Co-operative Housing Society at the end of a financial year  is required to prepare a list of active members, and non active members, issue notice to the non active members, complete the accounts, allow the members for inspection of the accounts, submit the same for audit, get the audit completed, obtain the audit report, prepare the annual activity report, issue notice for Annual General body meeting, hold the AGM, file six types of annual returns by online to the registrar website, file the return of appointment of auditors, file the audit rectification reports, pay regular tax deduction at source, file the quarterly TDS return, file income tax returns and attend to the members' request throughout the year.

The time bound compliances to be done by the respective persons/ authorities regarding the various legal compliances by the CHS in the year 2018

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