Your GST Checklist – For Tax Professionals and Corporates
- File return for tax period ending on 30th June, within the prescribed due date so that Input Tax Credit lying on your stock on the appointed date is not lapsed.
- Please allocate your closing stock into quantity and item rate per quantity and maintain bill wise details of closing stock as on 30.06.2017 for receiving ITC.
- Receive all the business oriented expenses like Telephone, Courier and Stationery bills after mentioning your GSTIN in order to avail Input Tax Credit (ITC) .
- Compare your books with values shown by your vendors/ creditors as on 30th June 2017.
- File necessary details in Trans Declaration Form for claiming ITC on old stock. It is also crucial for you to collect Form-C and Form-F for the goods sold on which ITC is to be claimed.
- Provide your GSTIN to all your suppliers and collect GSTIN from all buyers.
- If you have taken centralized registration under service tax, you need to apply for GSTIN registration separately for each such state in which you have business operations. For each of such registration you need to file a minimum of 37 returns .With Manage GSTIN feature of Komplitax, you can manage multiple place of business with ease.
- List out the GST rates for all goods/services that you are presently dealing in and make a list of all such goods/services which reverse charge will be applicable.
- Ensure that all Invoices are serially numbered and unique for each financial year.. If you want to raise GST Compliant Invoices then do check out Komplitax– Invoice Module covering all types of Invoices required to be GST Compliant.
- Ensure that you issue tax invoice for supplying taxable goods and services, and a bill of supply for exempted, and nil-rated supplies of goods and services
- Check that your existing accounting software is integrated with your GST return filing software. With Komplitax you can easily integrate with your existing accounting software.
- Receipt Voucher is required to be issued and tax is to be paid for Advance Received Amount.
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