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Chartered Accountants will play a huge role now, what with GST being the talk of the town. We tell you how to get your A game on with this handy checklist!
Chartered Accountants will play a huge role in the coming days, what with GST being the talk of the town. Business, big and small, will need the help of their CAs to register their business, create invoices, file returns, revise mismatched returns, claim input tax credit (ITC) and understand the day-to-day intricacies of this new tax policy. In the coming days, practicing CAs will find changes in their mode of work. From now on, they will be primarily involved in the following:
Before you begin to help your clients with their GST-related issues, you need to ensure that you and your practice is GST-compliant. Here’s what you need to do to make sure that happens:
The government has relaxed the rules for the first two months of GST. And companies can use this time to fulfill all the transition procedures mandated by law. You can read our article on the GST checklist for SMEs and ensure that your clients are GST-ready by following the steps mentioned therein. If you are using any version of Tally as accounting software, you can easily import all your sales and purchase data to ClearTax GST software and file your returns. Click here to explore how you can integrate your Tally data and use ClearTax GST software for all GST compliance.