Comprehensive Guide to the GST Calendar for 2024-25

Comprehensive Guide to the GST Calendar for 2024-25

Managing GST compliance can be challenging for businesses, but staying informed about important dates and deadlines is crucial to avoid penalties and ensure smooth operations. The GST calendar for 2024-25 provides a detailed schedule of all the key dates for filing returns and making payments. Here’s a comprehensive guide to help you navigate the GST calendar effectively.

Importance of the GST Calendar

The GST calendar is an essential tool for every registered business and professional. It helps you stay prepared for compliance well in advance, ensuring that you file your GST returns and prescribed forms on time. Missing these deadlines can result in interest charges and late fees, which can be costly for your business.

Key Dates in the GST Calendar 2024-25

Here are some of the important dates you need to remember for the financial year 2024-25:

1. 10th of Every Month

   • GSTR-7 (Monthly): Summary of Tax Deducted at Source (TDS) and deposited under GST laws.
   • GSTR-8 (Monthly): Summary of Tax Collected at Source (TCS) and deposited by e-commerce operators under GST laws.

2. 11th of Every Month

   • GSTR-1 (Monthly): Summary of outward supplies for businesses with a turnover exceeding Rs. 5 crore or those not opting for the QRMP scheme.

3. 13th of Every Quarter

   • GSTR-1 (Quarterly): Summary of outward supplies for taxpayers who have opted for the QRMP scheme.
   • GSTR-5 (Monthly): Summary of outward taxable supplies and tax payable by non-resident taxable persons.
   • GSTR-6 (Monthly): Details of ITC received and distributed by an Input Service Distributor (ISD).

4. 18th of Every Quarter

   • CMP-08 (Quarterly): Quarterly challan-cum-statement for composition taxpayers.

5. 20th of Every Month

   • GSTR-5A (Monthly): Summary of outward taxable supplies and tax payable by persons supplying OIDAR services.
   • GSTR-3B (Monthly): Summary return for taxpayers with a turnover of more than Rs. 5 crore or those not opting for the QRMP scheme.

6. 22nd and 24th of Every Quarter

   • GSTR-3B (Quarterly): Summary return for taxpayers who have opted for the QRMP scheme, with specific dates for different states and UTs.

7. 25th of April and October

   • ITC-04: Half-yearly/yearly summary of goods sent to or received from a job-worker.

8. 28th of Every Month

   • GSTR-11: Statement of inward supplies by persons with a Unique Identification Number (UIN) for claiming a GST refund.

9. 30th of April

   • GSTR-4 (Annually): Annual return for taxpayers who opted into the composition scheme.

Benefits of Using the GST Calendar

• Timely Compliance: Ensures you meet all GST deadlines, avoiding penalties and interest charges.
• Efficient Planning: Helps in planning your financial activities and cash flow management.
• Error-Free Filings: Reduces the risk of errors by providing a clear schedule of due dates.

Conclusion

Staying on top of your GST compliance is crucial for the smooth operation of your business. The GST calendar for 2024-25 is a valuable resource that helps you keep track of all important dates and deadlines. By following this calendar, you can ensure timely and accurate GST filings, thereby avoiding unnecessary penalties and maintaining good financial health.