Monthly Compliance Update Vol 1 · Issue 2
Monthly Compliance Update
GST rate corrigendum to Notification No. 01/2026-CT, CBDT Central Action Plan 2026–27, TDS certificate timeline extended via Circular No. 2/2026, MCA initiates incorporation rules review, and West Bengal Profession Tax return due date extended.
June 2026
Volume 1 · Issue 2
Monthly Compliance Update June 2026 · Vol 1 · Issue 2 Mon
Tue
Wed
Thu
Fri
Sat
Sun
1
2
3
4
5
6
7
TDS/TCS Deposit — May
8
9
10
GSTR-7 & GSTR-8
11
GSTR-1 (Monthly)
12
13
GSTR-1 IFF
14
15
Advance Tax — Q1 Instalment
TDS Certificate 16B / 16C
16
17
18
19
20
GSTR-3B (Monthly)
21
22
23
24
25
GST PMT-06 Challan
26
27
28
29
30
Profession Tax Return — Form III (WB)
| Date | Category | Compliance / Filing | Applicable To |
|---|---|---|---|
| 7 Jun | Income Tax | TDS/TCS Deposit — May | All Deductors/Collectors |
| 10 Jun | GST | GSTR-7 & GSTR-8 | TDS/TCS Deductors under GST |
| 11 Jun | GST | GSTR-1 (Monthly) | Monthly Return Filers |
| 13 Jun | GST | GSTR-1 IFF | QRMP Taxpayers |
| 15 Jun | Income Tax | Advance Tax — Q1 Instalment | All Assessees liable to Advance Tax |
| 15 Jun | Income Tax | TDS Certificate 16B / 16C | TDS Deductors (property / rent) |
| 20 Jun | GST | GSTR-3B (Monthly) | Monthly Return Filers |
| 25 Jun | GST | GST PMT-06 Challan | QRMP Taxpayers |
| 30 Jun | Other | Profession Tax Return — Form III (WB) | Employers / Registered Persons under WB PT Act |
Income Tax
GST
Other
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- Corrigendum dated 06 May 2026 — Amendment to Notification No. 01/2026-Central Tax (Rate): CBIC issued a corrigendum to Notification No. 01/2026-Central Tax (Rate) on 6 May 2026 to align the notification with amendments introduced through the Finance Act, 2026 and rectify drafting inconsistencies in the original text. Businesses should review affected classifications and GST rate applicability where transactions are covered by the amended provisions, as revised rate positions may impact pending or prospective transactions.
- May 2026 — GSTN Compliance and System Advisories: GSTN issued multiple advisories during May 2026 covering return filing functionalities, portal enhancements, compliance procedures, and technical system updates. These updates are designed to reduce validation errors and align portal workflows with current regulatory requirements. Taxpayers and professionals should review all relevant advisories on the GSTN portal before filing upcoming monthly or quarterly returns.
- May 2026 — Updated GST Circulars and Clarifications: CBIC and the GST Council continued issuing and updating circulars addressing classification issues, GST rate clarifications, procedural matters, and implementation of recent legislative amendments. Professionals should review the updated circular repository before advising clients on classification disputes, exemption claims, or procedural compliance matters, as new clarifications may modify previously held positions.
Action Required: Review the corrigendum to Notification No. 01/2026-CT for revised rate applicability and check all GSTN advisories issued in May 2026 before filing June returns to avoid validation errors and procedural non-compliance.
- 08 May 2026 — CBDT Central Action Plan (CAP) 2026–27 Released: CBDT released its Central Action Plan for FY 2026–27 on 8 May 2026, setting departmental priorities for the year. Key focus areas include faster income tax refund processing, enhanced taxpayer services, stronger TDS administration, reduction of litigation, improved assessment quality, and faster dispute resolution. The plan signals increased reliance on technology-driven compliance monitoring and is expected to result in more targeted scrutiny and proactive taxpayer engagement by the department.
- Circular No. 2/2026 — Extension of Timeline for Issuance of Specified TDS Certificates: CBDT issued Circular No. 2/2026 under Section 119 of the Income-tax Act extending the statutory timeline for issuance of certain TDS certificates. Deductors covered by the circular should update their compliance calendars to reflect the revised due dates and ensure certificates are issued within the extended timelines to avoid default under Section 272A of the Act.
- May 2026 — Income-tax Rules 2026 — Continued Implementation Updates: The Income Tax Department continued publishing procedural updates, implementation instructions, and compliance guidance under the Income-tax Rules, 2026 framework throughout the month. Businesses and tax professionals should remain updated with the revised procedures and compliance requirements introduced under the new legislative framework to ensure returns, filings, and documentation are aligned with current requirements.
Note: 15 June 2026 is the due date for the first instalment of Advance Tax for FY 2026–27. Ensure Circular No. 2/2026 revised TDS certificate timelines are reflected in internal compliance schedules.
- 09 May 2026 — MCA Invites Public Comments on Companies (Incorporation) Rules, 2014 and Filing Framework: The Ministry of Corporate Affairs invited stakeholder comments for a comprehensive review of the Companies (Incorporation) Rules, 2014 and rationalisation of the filing framework under the Companies Act, 2013. The initiative forms part of MCA's broader ease-of-doing-business and compliance simplification measures. The proposed review may result in future changes to incorporation procedures, filing requirements, and corporate compliance processes, and stakeholders are encouraged to participate during the consultation period.
- May 2026 — Companies Compliance Facilitation Scheme (CCFS-2026) Continues: MCA continued implementation of the Companies Compliance Facilitation Scheme, 2026, providing companies an opportunity to regularise specified pending filings with reduced additional fees. Companies with outstanding ROC compliances should evaluate their eligibility under the scheme and prioritise completion of pending filings within the prescribed scheme period to avail the concessional fee structure.
- May 2026 — MCA Stakeholder Advisory on Company and LLP Incorporation: MCA issued stakeholder guidance emphasising stricter scrutiny standards during incorporation processing, covering company and LLP name reservation, incorporation application review, trademark conflict checks, and registered office documentation requirements. Applicants should conduct proper name availability searches and trademark due diligence before submitting incorporation applications to avoid rejection or delays under the tightened review standards.
Action Required: Companies with pending ROC filings should immediately evaluate eligibility under CCFS-2026 and regularise filings before the scheme period closes. New incorporation applicants must conduct thorough trademark and name availability checks given MCA's stricter scrutiny standards.
- Order dated 30 April 2026 — Extension of Due Date for Profession Tax Returns (Form III) — West Bengal: The Directorate of Commercial Taxes, Government of West Bengal, extended the due date for filing specified Profession Tax returns in Form III for the financial year ended 31 March 2026. The extension was granted through an official order issued in view of administrative and practical difficulties faced by taxpayers and registered persons. Employers and other persons registered under the West Bengal State Tax on Professions, Trades, Callings and Employments Act, 1979 should verify the revised due dates and file within the extended timelines to avoid interest, penalties, and compliance defaults.
Note: West Bengal employers and registered persons should confirm the revised Form III due date from the Directorate of Commercial Taxes and ensure timely filing within the extended period.
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