GST Compliance: FY25-26 Composition & LUT Deadlines
Key GST Compliance Deadlines for FY 2025-26
As the financial year concludes, taxpayers need to be mindful of crucial GST compliance deadlines. Recent updates highlight the last dates for opting into the Composition Scheme and submitting Letters of Undertaking (LUT) for exports for the upcoming financial year.
Composition Scheme Opt-in
Regular taxpayers intending to switch to the Composition Scheme for the Financial Year 2025-26 must complete the necessary process by March 31, 2025. This scheme offers a simpler compliance regime for eligible small taxpayers.
LUT Submission for Exports
Similarly, businesses engaged in exports without payment of GST for the Financial Year 2025-26 are required to submit their Letter of Undertaking (LUT) by March 31, 2025. Timely submission of the LUT is essential to continue making zero-rated supplies without paying integrated tax.
These deadlines are critical for ensuring smooth compliance and avoiding potential penalties for the new financial year.
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ClearTax Team
Tax Content Strategist
ClearTax Team is a research contributor specializing in Income Tax.
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