GST Compliance Activities to be Undertaken for FY 2024-25 in March 2025
As FY 2024-25 ends, businesses must complete critical GST compliance tasks. Key activities include submitting the Letter of Undertaking (LUT) in Form RFD-11 by March 31, 2025, for zero-rated supplies and ensuring compliance with Rule 96A for exports. Businesses eligible for the Composition Scheme must opt-in via Form GST CMP-02 before April 1, 2025.
Taxpayers with turnovers up to INR 5 crores should confirm QRMP scheme selection by April 30, 2025. Implementing a new invoice series from April 1, 2025, reassessing aggregate turnover, and checking e-invoicing and e-way bill applicability are also essential.
GST returns should be reconciled across GSTR-1, GSTR-3B, books of accounts, e-invoices, and e-way bills to avoid mismatches. Credit notes must be issued by November 30, 2025, and available GST TDS/TCS credits should be claimed. Input Tax Credit (ITC) reconciliation, common ITC reversals, and compliance with ISD registration requirements must be ensured.
Businesses must also verify goods sent on approval basis, RCM liabilities, and GTA declarations for FY 2025-26. Reconciliation of electronic cash/credit ledgers and the GST Amnesty Scheme deadline of March 31, 2025, should not be overlooked. Addressing these compliance tasks ensures adherence to GST regulations and smooth tax operations.
