Download GSTR-1, 2A, 3B and compare with books of accounts to check mismatches
Dual control of GST not the best move
The minister also said that he does not approve of the dual control of GST, stating that this defeats its intended objectives. He also wants the government to sit through more intense calculations on the issue and not implement anything in a hurry, in order to meet a deadline. He assured industry chambers that he would take up these issues in the upcoming meetings of the GST council.
On the other hand, CBEC Chairman Najib Shah urged industries to not keep seeking exemptions under GST as they would mostly disappear once the new regime is put in place. He also clarified that too much is being read into the anti-profiteering clause set by the council. His opinion is that once the new tax structure is in place then it will subsume a host of indirect taxes, thus making the law user friendly.
Getting GST-ready before July 1
The deadline for GST rollout has been fixed, and as a business now is the time to take the first steps to becoming GST-ready. This way, when the change comes, you will not be caught off guard! So, what can you do to be prepared for GST? Glad you asked:
- Get your enrollment done on time. To read more about the enrollment process and its relevance, Click here.
- Plan your logistics and warehousing requirement carefully. To read our detailed guide on impact analysis on logistics and warehousing, Click here.
- Adopt such platforms, technologies which will enable your business to be GST-compliant. Click here to get all updates and access a pool of GST Calculators.
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