TAMILNADU STATE ACCOUNTING AND

TAXATION SERVICES CO-OPERATIVE

SOCIETY LIMITED, XNC-895

COMPLIANCE MANUAL
 COMPLIANCE MANUAL FOR SOCIETY
GST
 GSTR 3B, GSTR 1 has to be filed every month.
GSTR 1
o Monthly - Annual turnover exceeding 1.5 Crs.
o Quarterly - Annual turnover not exceeding 1.5 Crs.

 Due dates for filing GST Return are mentioned below

RETURN FORMS DUE DATE PENALTY

GSTR 1 11th of next month Rs.200 per day

GSTR3B 20th of next month Rs. 50 per day for Tax

Rs. 20 per day for Exemption, Nil
FEB 28st ,2021
GSTR 9 & 9C Rs. 200 per day
(for FY 19-20)

 Three forms of GST filing are available for Co-operative Societys

Goods
 Taxable Goods

MALIGAI MASALA POWDER,SEMIYA,ELLU, COCONUT OIL,SPICES, TEA ,COFFEE, BRANDED

SALT, SOYA, ATTA,VARA MILAGAI (CHILLY), SUGAR, OILS, FIRE STICKS, AGARPATTIS,
5% ASAFOETIDA, RAVAI, SOOJI etc
FERTILIZER
GUNNY–JUTE
MEDICINE CRACKERS
MALIGAI–BADAM, PICKLES, NOODLES, CHIPS etc
12% MEDICINE
CRACKERS
MALIGAI-BAJI BONDA POWDER,GULAB JAMUN,PAYASAM
MIX,CHOCOLATE,BISCUITS,SOAP etc
18% GUNNY– POLYTHENE
MEDICINE
CRACKER
MALIGAI- LIZOL, PHENOYL etc
28%
CRACKERS
 Exempted Goods
(It is mandatory to declare these goods in GST even though it is exempted)

MALIGAI SALT, MILLETS, GRAINS, TAMARIND, COCONUT,

VEGETABLES

PDS THOOR DHAL, SUGAR, PALM OIL, KEROSENE, RICE, WHEAT

 Services
All Services will be charged at GST Rate of 18%.
The Services include :

I. Jewel Loan – Appraisal charge

II. Processing Charge – Bank (Mortgage & Personal) loan, Jewel Loan and any
other charges excluding Interest.

III. E- Governance / E- Seva [Amount collected of Rs. 48 includes GST]

TDS

1. Salary – Domestic u/s 92(B)

All employees exceeding threshold limit.

o To be filed on a quarterly basis.

o FORM No 24Q

o It includes CESS.

 TDS should be deducted uniformly and monthly basis.

 TDS deducted should be paid before 7th of next month.

 It is mandatory to deduct the entire tax liability by the employer.

 2. Non-Salary - Domestic u/s 194(A)

SECTION NATURE OF PAYMENT RATE OF TDS EXEMPTION LIMIT

Rs.40,000, if payment made by Banking,
Co-operative Society, Post office.
Interest (Bank) other than 10% Rs.5,000 if payment made by any other
194A Interest on securities person.
For senior citizens, TDS on Interest
income is Rs.50,000
No TDS for-
Payment to contractor/sub Individual & HUF – a) Value < Rs.30,000 per contract, or
194C contractor 1% Others – 2% Aggregate less than Rs.1,00,000 p.a
b) Small Transporters
194H Commission or Brokerage 5% Rs.15,000 p.a.
Plant & Machinery,
Equipment – 2%
Land & Building, Rs. 2,40,000 p.a.
194I Rent Furniture & Fittings
– 10%
Professional or Rs. 30,000 p.a.
194J Technical Fees 10%

*PAN is mandatory, if no PAN, then 20% will be deducted

3. Scrap u/s 206C

TCS will be collected based on type of Scrap.

 Due dates for filing TDS are mentioned below

RETURN FILING PAYMENT DATE

MONTHS DATE
April- June July 30th 7th of next month
July - Sep Oct 31st 7th of next month
Oct - Dec Jan 31st 7th of next month
Jan - March May 31st 7th of next month
(For Non-Salary, Deduction for Provisional
Entries for the March month is on 30th of April)
  Due dates for filing TCS are mentioned below

RETURN MONTHS FILING DATE PAYMENT DATE

April-June th 7th of next month
July 15
July-Sep Oct 15th 7th of next month
Oct-Dec th 7th of next month
Jan 15
Jan-March May 15th 7th of next month

4. Salary – NRI u/s 195

o CESS will be deducted

5. For Salary, NRI, TCS, Educational CESS is applicable at 4%.

INCOME TAX

U/S 80P for Co-operative society, only the income from core business is exempted fully
from tax. Any other income other than the whole business is fully taxable.
E.g.: Under Sec 80(4), the below societies are fully exempted

I. Primary Agricultural Credit Society

II. Primary Co-operative Agricultural and Rural Development Bank- Society

having its area of operation confined to a taluk and the principal object of which is
to provide for long-term credit for agricultural and rural development activities.

III. Co-operative bank for agricultural purposes

 Due date for filing IT Return

o NON-TAX AUDIT -- 30st Sep (Turnover less than 1 Crs)

o TAX AUDIT -- 30th Sep (Turnover more than 1 Crs)

 Tax Liability

NET INCOME RANGE INCOME TAX RATE

Up to Rs.10,000 10%
Rs.10,000 – Rs.20,000 1000 + 20%
Rs.20,000 & above 3000 + 30%

 Surcharge:
12% of tax where total income exceeds Rs.1 Cr

 Health and Educational CESS:

4% of income tax and surcharge

 For filing Income tax return, Form ITR-5 has to be filed for Co-operative society.

KYC Document
 For Bank deposits, To join as a member/Opening an account, PAN &
AADHAR(mandatory) , Driving license &voter ID (Optional ID proof). For opened
accounts, PAN & AADHAR has to be updated.

 Cash deposition of amount exceeding Rs.50,000 and above, PAN copy is

mandatory.

 For Fixed deposit, the amount should be deposited only after deposited in the Savings
Bank account.