GST year-end checklist for mid-market businesses
Use this as a working list with your accountant — not a substitute for advice on your specific facts.
1. Reconcile outward supplies
Match books of account to GSTR-1 (and e-invoice where applicable). Investigate credit notes issued after cut-off and amendments that affect the annual return.
2. ITC hygiene
- Reconcile purchase register to GSTR-2B month by month
- Flag invoices missing in 2B and chase vendors early
- Review blocked credits under Section 17(5)
- Confirm ISD / cross-charge logic for multi-location entities
3. RCM & liability checks
Scan expense ledgers for advocate fees, GTA, import of services and director sitting fees. Confirm RCM was paid and ITC (where eligible) was claimed in the correct period.
4. Annual return readiness
Prepare a bridge between monthly returns and the annual return early. Tables that usually delay filing include HSN summaries, advances and exempt supplies.
5. Notice hotspots
Differences between GSTR-1 and 3B, large ITC vs turnover ratios, and sudden spikes in credit notes are common triggers. Document explanations before you file.