https://www.taxtmi.com/article/detailed?id=8093 Taxpayers must substantiate transitional credits via FORM GST TRAN-1 and, where applicable, file FORM GST TRAN-2 for disclosed closing stock without invoices; ensure goods sent for job work or on approval before the appointed day are returned within prescribed periods or face recovery of input tax credit and tax liabilities. Maintain invoice series unique to the financial year, include HSN codes as required by turnover bands, comply with time of supply provisions and interest rules, choose and adhere to an annual return filing cycle, and perform ITC valuation, required reversals, and detailed reconciliations between books and GST returns to address variances and anti profiteering concerns. en-us Thu, 02 Aug 2018 07:38:52 +0530 Thu, 02 Aug 2018 07:38:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=8093 Taxpayers must substantiate transitional credits via FORM GST TRAN-1 and, where applicable, file FORM GST TRAN-2 for disclosed closing stock without invoices; ensure goods sent for job work or on approval before the appointed day are returned within prescribed periods or face recovery of input tax credit and tax liabilities. Maintain invoice series unique to the financial year, include HSN codes as required by turnover bands, comply with time of supply provisions and interest rules, choose and adhere to an annual return filing cycle, and perform ITC valuation, required reversals, and detailed reconciliations between books and GST returns to address variances and anti profiteering concerns. Articles Goods and Services Tax - GST Thu, 02 Aug 2018 07:38:52 +0530 https://www.taxtmi.com/article/detailed?id=8093