New Year 2019! GST Resolution

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ew Year 2019! GST Resolution<br>By: - Ganeshan Kalyani<br>Goods and Services Tax - GST<br>Dated:- 1-1-2019<br><br>Wishing you all a very Happy and a Prosperous New Year 2019! May God bless you all with Health, Wealth and Success. Following are the resolutions I would like to do for the year 2019. * I will ensure that outward supplies as shown in GSTR-1 is equal to the outward supplies shown in....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... GSTR-3B. * I would reconcile outward supplies as shown in GSTR-1 / GSTR-3B with the books of accounts. * I will ensure that only eligible Input Tax Credit (ITC) is claimed as credit in GSTR-3B. Any ineligible ITC would be reversed with the payment of applicable interest. * I will reconcile ITC as per books with GSTR-2A auto-populated data. * I will ensure that correct HSN & GST rate is ch....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....arged on all product in outward supplies. * I will pay GST at correct rate on the services covered under reverse charge mechanism * I will pay GST within the due date of payment of tax. * I will file GSTR-1 & GSTR-3B well before the due date and thereby avoid last minute website problem. * I will pay my supplier for the material supplied by him to me within a period of 180 days. * I will....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... reverse ITC proactively in case I found it was wrongly availed by me. * I will reconcile IGST paid on imports with IGST claimed in GSTR-3B. Also, I will reconcile IGST ITC taken as per GSTR-3B with the IGST in ICEGATE. * I will automate my reports in my accounting software which can provide me accurate data to file GSTR-1 & GSTR-3B. * I will prepare for GST Annual Return well before the tim....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....eline. * I will generate E-way bill for all taxable supplies in case the invoice value exceeds the threshold limit. * I will carry the goods along with appropriate documents viz. tax invoice, delivery challan, bill of supply etc. * I will educate my suppliers to pay correct GST and file appropriate GST returns regularly. * I will reconcile electronic credit ledger, liability ledger in GSTN....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... with the respective ledgers maintained in my books of accounts. * I will keep myself abreast of the changes in GST and comply accordingly. Thanks.<br> Scholarly articles for knowledge sharing by authors, experts, professionals ....