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Businesses and taxpayers need to complete a few critical compliance actions on GSTN portal today, March 31, 2026, to ensure a smooth transition into FY 2026-27.
Eligible taxpayers looking to shift to the Composition Scheme for FY27 must file Form CMP-02 on the GST portal by March 31, 2026.
With the financial year 2025-26 drawing to a close, businesses and taxpayers need to complete a few critical compliance actions on the Goods and Services Tax Network (GSTN) portal today, March 31, 2026, to ensure a smooth transition into FY 2026-27.
Opt For Composition Scheme (CMP-02)
Eligible taxpayers looking to shift to the Composition Scheme for FY27 must file Form CMP-02 on the GST portal by March 31, 2026. Missing the deadline would mean continuing under the regular scheme for the next financial year.
GTA Declaration For Forward Charge Mechanism
Goods Transport Agencies (GTAs) intending to pay GST under the forward charge mechanism in FY27 are required to submit a declaration in Annexure V on the portal. The option must be exercised on or before March 31, 2026.
File LUT For Exporters
Exporters making zero-rated supplies need to furnish a Letter of Undertaking (LUT) for FY 2026-27 before March 31. Filing the LUT in advance ensures uninterrupted exports without payment of integrated GST from April 1 onwards.
March 31, 2026, 3:15 PM IST
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