Detailed GST Year-End Checklist (FY 2025-26)

Detailed GST Year-End Checklist (FY 2025-26)
S.N.	Category	Action Item	Key Details & Impact
1	Administrative & Procedural	Renew LUT (Letter of Undertaking)	File Form GST RFD-11 to continue zero-rated supplies (exports/SEZ) without paying IGST.
2	Administrative & Procedural	Reset Invoice Number Series	Start a unique, new series (max 16 characters) to avoid duplicate IRN errors and reconciliation failures. (Rule 46(b))
3	Administrative & Procedural	Mandatory ISD Registration	Organizations with common input services for multiple branches must register as an Input Service Distributor (ISD).
4	Administrative & Procedural	QRMP Scheme Election	Decided to opt in or out of the Quarterly Return Monthly Payment scheme for Q1 FY 26-27.
5	Administrative & Procedural	Display of Certificate & GSTIN	Display registration certificate in a prominent location and GSTIN on the name board at all places of business- including the additional place of Business.
6	Administrative & Procedural	Additional place of business (APOB)	Make sure to GST registration includes all the additional place of business. If not include it by filing the amendment
7	Administrative & Procedural	GST registration - Amendment	Check if there is any correction required in GST registrations- Change in Directors/ promotors, HSN/SAC, Address, phone, email etc.
8	Administrative & Procedural	Self-Invoicing (RCM)	A registered person liable to pay tax under reverse charge must issue an invoice for goods/services received from an unregistered supplier (section 31(3)(f))
9	Reconciliations	Turnover Reconciliation	Match sales turnover/tax liability between Books, GSTR-1, and GSTR-3B.
10	Reconciliations	ITC Reconciliation	Reconcile Purchase Register with GSTR-2B. Take appropriate action in Invoice Management System (IMS).
11	Reconciliations	E-Way Bill & E-Invoice Match	Match e-way bill and e-invoice data with the Sales Register to identify omissions.
12	Reconciliations	Physical Stock Verification	Match physical stock with books; shortages (theft/loss/ written off etc.) require ITC reversal under Section 17(5)(h).
13	Reconciliations	GSTR-1/3B Rectification	Discovery of errors or omissions in outward supply details for FY 2025-26 must be rectified by November 30, 2026
14	Reconciliations	Credit Note/Debit Note Adjustments	Declare notes by Nov 30 of the following year. No reduction in output tax is allowed if the recipient hasn't reversed the corresponding ITC.
15	ITC Governance & Reversals	Rule 37 (180-Day Rule)	Reverse ITC on vendor invoices dated before Oct 2, 2025, if still unpaid. Re-avail only upon payment.
16	ITC Governance & Reversals	Rule 37A (Supplier Default)	Ensure suppliers have filed GSTR-3B for invoices where you claimed ITC; if not, you must reverse credit.
17	ITC Governance & Reversals	Annual ITC Re-computation	Finalize annual re-computation for Rule 42 (Inputs) and Rule 43 (Capital Goods) for common credit.
18	ITC Governance & Reversals	Section 17(5) Blocked Credits	Ensure no ITC claimed on blocked items (Car related expenses, Staff insurances, food items. CSR related goods/ services etc)
19	ITC Governance & Reversals	Depreciation Verification	Verify that no GST component was included in the cost for Income Tax depreciation on capital goods if ITC has been availed for such goods
20	ITC Governance & Reversals	Rule 42 & 43 Reversal	Perform monthly and final annual re-computation of ITC for inputs and capital goods used for both taxable and exempt supplies
21	ITC Governance & Reversals	ITC Claim Deadline	Final deadline to claim ITC is Nov 30 following the relevant financial year or filing the annual return.
22	Payments & Liability	ITC Utilization Order	Utilize IGST credit fully before using CGST/SGST. CGST cannot pay SGST and vice versa. W.e.f. Feb 2026- CGST & SGST ITC can be utilised in any manner to pay IGST liability.
23	Payments & Liability	Interest on Delay	18% on tax paid via cash ledger after the due date. 24% for wrongly availed and utilised ITC.
24	Threshold Applicability	E-Invoicing Readiness	Mandatory if aggregate turnover in any year from 2017-18 exceeds Rs.5 crore.
25	Threshold Applicability	HSN Reporting Levels	6-digit HSN is mandatory if turnover >Rs.5 crore; 4-digit HSN for B2B if turnover ≤Rs 5 crore.
26	Threshold Applicability	Rule 86B (1% Cash Payment)	Verify if required to pay 1% tax liability in cash (monthly taxable turnover >Rs.50 lakh).
27	Other Compliance	RCM Liabilities	Identify all RCM transactions (e.g., legal fees, GTA, rent from unregistered persons) and ensure tax is paid.
28	Other Compliance	Export Realization	Ensure export proceeds are realized within the 15-month timeline to maintain zero-rated status. [NOTIFICATION F. NO. FEMA 23(R)/(7)/2025-RB, DATED 13-11-2025]
29	Other Compliance	Employee Gifts	Review "Gifts" ledger; employee gifts exceeding Rs.50,000/year are treated as a taxable supply.
30	Other Compliance	Job Work Returns	File Form GST ITC-04 for March quarter (Half-yearly if >Rs. 5Cr; else yearly) detailing goods sent to/returned from job workers.
31	Other Compliance	Accounts Retention	Ensure all records are safely stored for 72 months from the annual return due date.
32	Other Compliance	GSTR-1A Amendments	Utilize the new Form GSTR-1A to correct errors in GSTR-1 before filing GSTR-3B for that period.
33	Other Compliance	IMS Accepting/Rejecting	Use the Invoice Management System to "Accept," "Reject," or mark "Pending" for all inward invoices to correctly populate GSTR-2B.
34	Other Compliance	Refund Application	Apply for any eligible tax or ITC refund in Form GST RFD-01 within two years from the relevant date
35	Other Compliance	E-Way Bill Generation	Mandatory for movement of goods with consignment value >Rs.50,000.
36	Other Compliance	Return Blocking Rule	Filing of GSTR-1/IFF will be blocked if the GSTR-3B for the preceding month has not been furnished
37	GST portal check	Notices	Check if you have received any notices. This can be checked in GST portal
38	GST portal check	TDS and TCS credit received	File these returns to claim TDS/ TCS ( if any).Path- Service>Returns>TDS and TCS credit received
39	GST portal check	Negative liability statement - Regular Taxpayers	Check this ledger to track tax availability due to issuance of credit note. Path- Service>Ledger>Negative liability statement - Regular Taxpayers
40	GST portal check	Electronic Credit Reversal and Re-claimed Statement	Check this ledger to track ITC reversal in Table no. 4.B.2 and reclaimed. Path- Service>Ledger>Negative liability statement - Electronic Credit Reversal and Re-claimed Statement
41	GST portal check	RCM Liability/ITC Statement	Check this ledger to track RCM liability paid and ITC claimed thereon. Path- Service>Ledger> RCM Liability/ITC Statement
42	Statutory Returns	GSTR-9 (Annual Return)	Mandatory for regular taxpayers with turnover exceeding Rs. 2crore.
43	Statutory Returns	GSTR-9C (Reconciliation)	Required for taxpayers with turnover exceeding Rs. 5 crores (self-certified).

 

Disclaimer: The above checklist is of a general nature and is intended for basic reference purposes only. Businesses are advised to evaluate and comply with industry-specific regulatory and statutory requirements applicable to them.