Please follow the necessary steps for maintaining the healthy accounts hereafter:-
1. Make Rubber stamp of GSTIN.
2. Affix GSTIN stamp for all your invoices.
3. Take new bill book and start the beginning number from 1, 01 or 001.
4. If you have no printed bill book then you will print it to NEW GST MODEL BILL.
5. Give your GSTIN to all your suppliers.
6. Receive GSTIN from all your customers.
7. We will take ITC (Input Tax Credit) from business oriented expenses i.e., Telephone bill, Courier Bill, Stationery Bill, etc. Thus, hereafter you must receive the bills for all your business oriented expenses after mentioning your GSTIN.
8. You will place tax in bills for Local (Intra-State) as SGST – 9% and CGST – 9%. For outside state (Inter-State) as IGST-18%
9. Mostly online cash transactions are advisable and issue the DEBIT CARD for all your small expenses.
10. Tax must be paid for ADVANCE RECEIVED AMOUNT. Hence, don’t receive or paid any amount either without raising bills or collect bills.
11. No expenses have being written for more than Rs.10000/- in cash. If you receive more than 2 Lakhs from one person or company then that whole amount taken as PENALTY (Income Tax rule)
12. Please make bill wise closing stock as on 30.06.2017 for receiving ITC from our Sales Tax Department (Not for Service unit)
13. You have to pay tax for receiving bills from unregistered dealer. (Not for Service unit)
14. Please be ready of all Purchase, Sale, Expense Bills and Bank Statement on second day of each calendar month.
15. We must to file Sales transaction bills on or before 10th, and Purchase transaction bills on or before 15th and Final transaction ( Sales and Purchases) return on or before 20th of every month.
16. In GST portal, they have compliance rating method for GENUINE BUSSINESS MAN. Please follow the rules and get GENUINE BUSINESS MAN
I hope and wish you to get top compliance rate for increasing business as well as profit. BE PROUD OF INDIAN
GST- GOODS AND SERVICE TAX
GENUINE SIMPLE TAX