Taxmann's Analysis | GST Year-End Compliance Checklist for FY 2023-24 – Key Deadlines | Strategic Considerations

Download or read book Taxmann's Analysis | GST Year-End Compliance Checklist for FY 2023-24 – Key Deadlines | Strategic Considerations written by Taxmann and published by Taxmann Publications Private Limited. This book was released on 2024-03-30 with total page 14 pages. Available in PDF, EPUB and Kindle. Book excerpt: As we are about to mark the end of FY 2023-24, the taxable persons under GST are required to do some activities for the closure of FY 2023-24 and the beginning of FY 2024-25. Such activities have been discussed in the article, which includes: ‣ Opting for the various options that are available, such as applying for Letter of Undertaking (LUT) in case anyone wishes to export without payment of tax, opting for a composition scheme or QRMP, etc. ‣ Calculation of ITC Reversal under Rule 42 and Rule 43 on an annual basis ‣ Reconciliation of books of accounts, GST Returns, E-way bills, etc. ‣ Resetting the invoice series for FY 2024-25