October Closure Ecosystem - The GST items that cannot be left open.

October returns to be filed in November plays a very critical role for closure of FY 25-26. It provides a last of opportunity to recoup the ITC which has not been availed. It also enables a company to revisit the host of inward and outward including the credit note to ensure that the ecosystem of 25-26 is swept clean. 

October close should not be treated as another monthly GST compliance cycle where the principal objective is to reconcile the numbers, file GSTR-3B and move to the next month. The October close should instead be used as a GST control checkpoint.