Activities to be Undertaken for GST Compliances of FY 2024-25

 

As the FY 2024-25 comes to an end, businesses need to complete important tasks to stay GST-compliant and smooth transition into the new financial year. 


Key important points to consider:

Submission of Letter of Undertaking (LUT)

Compliance with Rule 96A of CGST Rules, 2017

Opting for the Composition Scheme

Quarterly Return Monthly Payment (QRMP) Scheme Selection

Implementation of the New Invoice Series

Reassessment of Aggregate Turnover

Check Applicability of E-Invoice

Check the Applicability of the E-Way Bill

Reconciliation of Outward Supplies

Issuance of Credit Notes

GST TDS/TCS credit

Reconciliation of Input Tax Credit (ITC)

Common ITC Reversal at the year-end

Compliance with Goods Sent on Approval Basis

Check the requirement to register as an Input Service Distributor (ISD)

GST Amnesty Scheme 2025

Want to know full insights, check the link- 

https://uja.in/blog/regulatory-updates/key-activities-for-gst-compliance-in-fy-2024-25/

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