Friends, Here is the Checklist for GST. Make sure that you are ready to witness the India’s Biggest Tax Reform on tomorrow i.e. 1st July, 2017.
1. Make sure that you have migrated or taken fresh registration under the GST.
2. Collecting GSTIN of Vendors & Customers: Make sure that you have collected the GSTIN of all the vendors & Customers.
3. GST Ready Invoices: Make sure that you have finalized the GST ready Invoices because you have to issue it form tomorrow. There are many GST Ready Billing software are available in the market such as Clear Tax, SAG Info-Tech, Marg etc.
4. Start recording of sales in excel format containing details of;
S. No. of invoice, Date of Invoice, Name of Receiver, Address, GSTIN of Receiver, Intra state sales (Yes/No), Name of Product/ Service, HSN/SAC Code, Quantity, Rate, Total Value, Discount, Taxable Value, SGST, CGST, IGST.
5. Make sure that you have learned about all three monthly returns GSTR-1, GSTR-2, GSTR-3.
Apart from that you also have to follow these things;
1. Be loyal to your CA/Accountant about the facts.
2. Be vigilant to market news & GST portal updates.
3. Inform GST authority of changes: You need to inform the GST authority within 30 days after any change in your business circumstances. These changes include: Change in business registered address or mailing address, Change in business name, Change in business constitution or ownership etc.
GST Helpline details;
1. Toll free Number: 1800 103 9271 (Available in six languages i.e. English, Hindi, Gujarati, Marathi, Kannada and Malayalam)
2. Email: email@example.com, firstname.lastname@example.org
3. Twitter: @AskGST_GoI