Tasks need to complete on GST portal before 31/03/2025

 Tasks you need to complete on GST portal before 31/03/2025


1. Taxpayers can opt for Composition Scheme (CMP-02) for the FY 2025-26 by accessing the GST Portal, which will be open up to March 31, 2025. 


2. GTA desirous of opting to pay GST under the Forward Charge Mechanism for FY 2025-26 are required to file a declaration in Annexure V on GST portal and the last date to file is 15.03.25.


3. File LUT form for FY 2025-26 by 31.03.25 which is available on GST portal for making zero rated supplies (Export) from 1st April onwards.

Comments

Post a Comment

Popular posts from this blog

My CA Journey summary

  Chartered Accountancy (CA)  is one of the most popular   professional courses . It is one of the Toughest courses in the world. It requires an integration of intelligence, hard work , Patience, Determination and continuous dedication with non-stop efforts.  Many aspirants relinquish this challenging journey and replace their dreams with  some other career options . My CA journey mentioned  below in  short summary: If I can become a Chartered Accountant anyone CAN. I Came from a village background with Telugu medium upto graduation. After graduating, I was confused as to what I should do. My Big Brother wanted me to pursue CA so that I have a degree, which would help me get a basic job and the required financial support in the future. That is when I decided to study further and become a Chartered Accountant. Initial period of my CA journey I was faced with a little bit of a medium issue, however I was able to clear the 1st 2 stages of CA early by spen...
Read more

Key Highlights of Section 194T:

Key Highlights of Section 194T: ✅ Effective from: April 1, 2025 ✅ Who needs to deduct TDS? Firms & LLPs ✅ Threshold Limit: ₹20,000 per financial year (Aggregate) ✅ TDS Rate: 10% (20% if PAN/Aadhaar not provided) ✅ Applicable on both working & non-working partners ✅ No exemption via Form 15G/15H or lower TDS certificate 🔹 Why is this important? Earlier, no TDS was required on such payments due to Section 40(b), but from April 1, 2025, firms/LLPs must deduct TDS before crediting or paying these amounts. This is a significant change impacting partnership firms, LLPs, and their partners. Firms must now ensure TDS compliance to avoid disallowance under Section 40(a).
Read more

𝐌𝐚𝐧𝐝𝐚𝐭𝐨𝐫𝐲 𝐈𝐒𝐃 𝐑𝐞𝐠𝐢𝐬𝐭𝐫𝐚𝐭𝐢𝐨𝐧

  The Government of India has announced a major GST amendment that will impact all businesses operating in multiple states. Effective April 1, 2025, Input Service Distributor (ISD) mechanism is now mandatory for businesses distributing Input Tax Credit (ITC) across branches. 📌 Key Changes You Need to Know: ✅ ISD Registration is Now Mandatory – ITC must be distributed via ISD; internal invoicing will no longer work. ✅ Separate GST Returns for ISD – Increased compliance burden for businesses. ✅ Stricter Tax Invoice Processing – All ITC claims must follow the new mechanism. 🔍 What This Means for Businesses: ⚠️ More Compliance & Paperwork – Extra registrations & tax returns required. ⚠️ ITC Transfers Must Follow ISD Rules – No more direct ITC allocation from HQ to branches. ⚠️ Non-Compliance Can Lead to Penalties & ITC Loss – Businesses need to act fast! 💡 How to Stay Compliant: ✅ Register for ISD before April 2025
Read more