FINANCIAL YEAR-END COMPLIANCE CHECKS (BEFORE 31ST MARCH) UNDER THE COMPANIES ACT 2013 AND GST

FINANCIAL YEAR-END COMPLIANCE

 CHECKS (BEFORE 31ST MARCH) UND

ER THE COMPANIES ACT 2013 AND GST

FINANCIAL YEAR-END COMPLIANCE CHECKLIST

UNDER COMPANIES ACT, 2013:

1	Ensure minimum Board Meetings are held (Sec 173)
2	Director disclosures (MBP-1 & DIR-8)
3	Check related party transaction approvals required before start of next financial year (Sec 188)
4	Review loans & investments compliance (Sec 185/186)
5	Review CSR obligation & unspent amount (Sec 135), if applicable
6	Update statutory registers & minutes books
7	Reconcile share capital & verify pending ROC filings
8	Review charge filings, if any
9	Statutory Audit preparation- Books of accounts must be finalized for audit

Under Companies Act 2013, focus on board meetings, audits, and statutory filings.

UNDER GST

1	Reconcile GSTR-1, GSTR-3B with books
2	ITC reconciliation & vendor mismatch follow-up-- Match ITC with GSTR-2B and books
3	Payment of GST liabilities- Ensure no pending dues.
4	Filing of GSTR-9 (Annual Return)-- Mandatory for taxpayers > ₹2 crore turnover.
5	Filing of GSTR-9C (Reconciliation Statement)- Required if turnover > ₹5 crore.
6	Review of e-Invoices & e-Way Bills

Under GST, ensure reconciliation of returns, ITC, and timely filing of annual returns.

Completing these before 31st March avoids penalties and ensures smooth transition into the next financial year. 

COMPLIANCE CALENDAR (JAN–DEC)

Month	Companies Act 2013	GST
January – February	Conduct Board Meetings for review of accounts-Prepare draft financial statements--Update statutory registers	Reconcile GSTR-1 & GSTR-3B--Match ITC with GSTR-2B---Review e-Invoices & e-Way Bills
March (Before 31st March)	Finalize books of accounts-- Complete statutory audit preparation---Draft Director’s Report	Clear pending GST liabilities---Final ITC reconciliation---Ensure outward supplies match returns
April – June	Hold Board Meeting to approve audited accounts--Prepare AGM agenda & notices	Continue monthly GST filings---Review compliance for new FY
July – September	Conduct AGM (by 30th Sept)---File AOC-4 (within 30 days of AGM)--- File MGT-7 (within 60 days of AGM)	Continue monthly GST filings
October – December	Secretarial Audit (if applicable)-- Internal compliance review	File GSTR-9 (Annual Return) by 31st Dec--- File GSTR-9C (Reconciliation Statement) if turnover > ₹5 crore--- GST Audit (if applicable)

 

YOUR COMPLIANCE PARTNER – R V SECKAR FCS, LLB

79047 19295