GST Compliance Checklist for FY 2025-26 Aspect Action Required Deadline LUT Filing Submit LUT for zero-rated supplies (Exports/SEZ) for FY 2025-26 31st Mar 2025 Composition Scheme Opt-in by filing CMP-02 for FY 2025-26 31st Mar 2025 ITC Reversal (Composition) File ITC-03 to reverse ITC upon switching to the composition scheme 30th May 2025 QRMP Scheme Opt-in or opt-out of the QRMP scheme 30th Apr 2025 GTA Declaration Obtain and maintain declaration for forward charge GST Before 1st Apr 2025 Invoice Series Reset Start a new unique invoice series for FY 2025-26 1st Apr 2025 Turnover Recalculation Assess turnover for compliance thresholds Before 1st Apr 2025 Supply Reconciliation Reconcile books with GST returns, ITC, and stock March 2025 RCM Review Verify and ensure RCM liability payment as per GSTR-2B March 2025 Exempt Supplies Report all exempt supplies, including interest income March 2025 ITC Reversal (Rule 42) Compute and adjust ITC reversal for exempt supplies March 2025 Interest on ITC Reversal Ensure timely ITC reversal adjustments to avoid interest 1st Apr 2025 onwards ITC Reversal (Rule 37) Reverse ITC for unpaid invoices exceeding 180 days March 2025
| Aspect | Action Required | Deadline |
|---|---|---|
| LUT Filing | Submit LUT for zero-rated supplies (Exports/SEZ) for FY 2025-26 | 31st Mar 2025 |
| Composition Scheme | Opt-in by filing CMP-02 for FY 2025-26 | 31st Mar 2025 |
| ITC Reversal (Composition) | File ITC-03 to reverse ITC upon switching to the composition scheme | 30th May 2025 |
| QRMP Scheme | Opt-in or opt-out of the QRMP scheme | 30th Apr 2025 |
| GTA Declaration | Obtain and maintain declaration for forward charge GST | Before 1st Apr 2025 |
| Invoice Series Reset | Start a new unique invoice series for FY 2025-26 | 1st Apr 2025 |
| Turnover Recalculation | Assess turnover for compliance thresholds | Before 1st Apr 2025 |
| Supply Reconciliation | Reconcile books with GST returns, ITC, and stock | March 2025 |
| RCM Review | Verify and ensure RCM liability payment as per GSTR-2B | March 2025 |
| Exempt Supplies | Report all exempt supplies, including interest income | March 2025 |
| ITC Reversal (Rule 42) | Compute and adjust ITC reversal for exempt supplies | March 2025 |
| Interest on ITC Reversal | Ensure timely ITC reversal adjustments to avoid interest | 1st Apr 2025 onwards |
| ITC Reversal (Rule 37) | Reverse ITC for unpaid invoices exceeding 180 days | March 2025 |
