1. Compliance Planning

✅ RIGHT

Maintain a monthly/quarterly compliance calendar

Set automated reminders for GST, TDS, PF, ROC filings

Use tools like Google Calendar, Cleartax, or a compliance CRM

❌ WRONG

Only worry about tax when your CA calls

Assume someone else is taking care of deadlines

Forget key dates and pay late fees

Important monthly dates to remember:

• 7th: TDS Payment
• 11th: GSTR-1
• 15th: PF/ESIC
• 20th: GSTR-3B
• 31st July: ITR for non-audit cases
• 31st Oct: ITR for audit cases

2. Bookkeeping & Accounting

✅ RIGHT

Update books weekly using tools like Tally, Zoho, Marg ERP

Reconcile your bank, cash, and UPI transactions monthly

Maintain invoice-wise GST details & HSN/SAC codes

❌ WRONG

Do last-minute accounting at year-end

Ignore mismatches and assume it’s fine

Use manual bills or outdated formats

Did you know?

Under Indian law, books must be maintained for 8 years, and they must reflect real-time accuracy during audits.

3. Tax Filing Discipline

✅ RIGHT

File GSTR-3B, TDS, and ITRs on time—even if NIL

Match GSTR-2B (ITC) with purchases

Pay advance tax quarterly if liable

❌ WRONG

Skip returns if you have “no income this month

Claim ITC without checking eligibility

Wait till March and pay everything late (with interest)

Penalty alert:

Late GST filing = ₹50/day + interest

Late ITR = ₹5,000 penalty under Section 234F

4. Quarterly Internal Review

✅ RIGHT

Check for TDS mismatches, GST errors, and cash flow gaps

Review employee payouts, ESIC, PF filings quarterly

Have your CA review accounts every quarter

❌ WRONG

Ignore red flags until audit season

Wait for employees to complain about PF not deposited

Only meet your CA in March or July

Why this matters:

Early detection = no penalties, better decision-making, and stronger investor confidence.

5. Legal & Registration Compliance

✅ RIGHT

Keep GST, FSSAI, IEC, and Shops & Establishment active & updated

Regularly update business address, nature of activity in GST portal

Renew digital signatures and trade licenses on time

❌ WRONG

Operate with outdated business info

Forget until they’re rejected during e-filing

Pro Tip:

Even startups must follow MCA (ROC) annual filing under the Companies Act — AOC-4, MGT-7, etc.

6. Documentation & Backup

✅ RIGHT

Store soft copies of invoices, challans, contracts, and return filings

Use cloud tools like Google Drive, Dropbox, or CA client portals

Keep track of notices or communication from GST or IT department

❌ WRONG

Lose paper invoices or never back up Tally data

Save things on one laptop or pen drive

Ignore emails from govt portals thinking it’s spam

Real Case:

Many SMEs miss GST refund opportunities because they can’t produce proper purchase invoices or reconciliation reports!

7. Hire the Right Professionals

✅ RIGHT

Hire or retain a reliable CA/CS or compliance consultant

Take quarterly check-ins with your CA

Understand what’s being filed – ask questions

❌ WRONG

Ask friends or relatives to “help” without expertise

Wait till audit or return time to involve professionals

Sign everything blindly without checking contents

Startup Founders:

Even if you’re bootstrapped, budgeting ₹2K–₹5K/month for compliance saves you lakhs later.

Final Word: Compliance is Not a Burden – It’s Business Hygiene

Think of compliance like brushing your teeth—a daily habit, not an annual crisis.

It protects your business, builds investor trust, and prepares you for scale.

Want a Free Compliance Checklist (India-Specific)?

Drop your email and I’ll send you:

• 12-Month Compliance Calendar
• GST + TDS Filing Tracker (Excel)
• Document Storage Guide