The GST Department has issued detailed guidelines for taxpayers regarding compliance requirements for the financial year 2025-2026.

The key points include:

1. Opting for Composition Scheme: Eligible taxpayers who intend to opt for the GST Composition Scheme for 2025-2026 must file their option by 31st March 2025. Taxpayers already under the scheme must file a fresh option if they wish to continue.

2. Use of New Invoice Series: As per Section 46(b), taxpayers must maintain a new serial number series for invoices starting 1st April 2025. This is a mandatory legal requirement.

3. E-Invoicing Requirement: Taxpayers with an aggregate turnover exceeding Rs. 5 crores from 2017-18 to 2024-25 must implement e-invoicing for B2B transactions from 1st April 2025. Non-compliance may lead to penalties.

4. Quarterly Return Filing (QRMP) Scheme: Taxpayers opting for the QRMP scheme for the first quarter of 2025-26 must file the option by 30th April 2025. Existing taxpayers can continue with their current filing method.

5. Letter of Undertaking (LUT) for Exports: Exporters must file the LUT in Form GST RFD 11 before initiating exports for 2025-26. Filing will be available from 1st April 2025 on the GST portal.

6. Relief from Late Fees and Penalties: Taxpayers who received demand notices under Section 73 for the years 2017-18 to 2019-20 can avail of relief by settling dues before 31st March 2025. Appeals must be filed by 30th June 2025.

7. Annual Reconciliation (GSTR-9C): For those required to file GSTR-9C from 2017-18 to 2022-23, late fees will be waived if returns are filed before 31st March 2025.

8. GST on Hotel Accommodation: Hotels with a declared tariff above Rs. 7500 per day in 2024-25 will be classified as “specified premises.” Restaurants in such premises must charge 18% GST starting 1st April 2025.

9. Revised GST on Declared Tariff: Hotels with a declared tariff above Rs. 7500 per day but charging below that amount in 2024-25 must file Annexure VII by 31st March 2025 to charge 5% GST on restaurant services without ITC from 1st April 2025.

10. Goods Transport Agency (GTA) Compliance: GTAs must file Annexure V for forward charge and Annexure VI for reverse charge by 31st March 2025. Forward charge will be applicable from 1st April 2025.

11. Input Service Distributor (ISD) Registration: Businesses with multiple registrations must register as ISD from 1st April 2025 and distribute Input Tax Credit (ITC) via ISD invoices.

Taxpayers are urged to comply with these guidelines within the specified timelines to avoid penalties. For any clarifications, contact the concerned GST office.