Action Points for October 2024 GST Return pertaining to FY 2023-24:

Action Points for October 2024 GST Return pertaining to FY 2023-24:

1. Reconcile ITC for FY 2023-24 and avail ITC of FY 2023-24 if any pending to avail.

2. Notify the suppliers about any ITC not reflected in GSTR-2B but for which goods/services have been received during 2023-24 before filing his GSTR 01.

3. Calculate the common ITC for FY 2023-24 and do the reversal as per Rule 42 and Rule 43 of the CGST Rules.

4. Check all vendor payments have been made within 180 days for FY 2023-24. If not, reverse the ITC with interest and re-avail in the month payment is actually made.

5. Ensure ITC for inputs and capital goods is correctly identified and recorded in the books for the disclosure in Table 6 of GSTR-9.

6. Make sure all outward supplies of FY 2023-24 are reported and if any transaction is left, please report in GSTR 01 of October 2024.

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