Key 2 important GST Compliance before 31.03.2025

 

1) Filing of Letter of Undertaking (LUT) for the F.Y.2025-26:
Any registered person availing the option to supply goods or services for export/SEZs without payment of IGST to furnish, prior to export/SEZs supply, a LUT .

LUT must be filed in Form GST RFD-11.

Any registered taxpayers opt for the above option for the F.Y.2025-26 must file LUT on or before 31.03.2025.

Option to file LUT for the F.Y.2025-26 is now available on GST Portal (Gst Portal >log in >Services >User Services >Furnish LUT)

2) Opt for Composition Scheme for the F.Y.2025-26 in GST:
Any taxpayer who is register as normal tax payer under GST needs to file an application to opt for Composition scheme in Form GST CMP-02 on GST Portal prior to the commencement of financial year for which the option to pay tax under the aforesaid section is exercised.

i) For new taxpayers: at the time of GST Registration in Form GST REG-01.
ii) For existing taxpayers: Before the commencement of the financial year in Form GST CMP-02

Option to opt for composition scheme for the F.Y.2025-26 must be done on or before 31.03.2025. It is now available on GST Portal (Gst Portal >log in >Services >Registration >Application to opt for composition scheme)