GST Compliance Made Easy provides readers with a quick reference guide to understanding and fulfilling their responsibilities under GST law.This book will help businesses, especially those who have registered for GST or are filing GST returns for the first time, to self-assess their GST submissions and to discover past GST errors early.
This book will help you to:
- Understand GST requirements on filing and record-keeping.
- Review the accuracy of GST submissions.
- Reduce the risk of incurring penalties on common errors made by GST-registered businesses.
- Discover past GST errors early for timely disclosure to the RMCD to enjoy zero or reduced penalties.
GST Compliance Made Easy comprises four key sections:
- Section 1: GST Practices – Good GST practices encompasses internal processes related to people, record-keeping, systems and internal controls to properly handle the GST reporting of transactions.
- Section 2: Preparation of the GST-03 Return – The step-by-step instructions and tips will ensure that the GST-03 return form is completed accurately and efficiently.
- Section 3: Pre-submission Checkpoints – This self-assessment comprising a set of questions and answers will ensure that GST returns are correct before submission.
- Section 4: Post GST Submission Checkpoint – Perform periodic reviews of past GST returns to detect errors early for timely disclosure to the RMCDs to avoid costly penalties