GST Registration:
Register under GST if turnover exceeds the prescribed threshold or if applicable under specific criteria (e.g., inter-state supply).
Invoices and Documentation:
- Issue GST-compliant tax invoices.
- Maintain records of all sales, purchases, input tax credit, and tax payments.
GST Returns:
- GSTR-1: Monthly/Quarterly return for outward supplies.
- GSTR-2A/2B: Auto-generated for inward supplies.
- GSTR-3B: Monthly/Quarterly summary return.
- CMP-08: Quarterly statement for composition taxpayers.
Input Tax Credit (ITC):
- Claim ITC based on valid invoices and matching with GSTR-2B.
- Reverse ITC where applicable (e.g., non-payment of invoices within 180 days).
Payment of GST:
- Monthly/Quarterly payment of taxes by challans (GST PMT-06).
- Maintain electronic cash and credit ledgers.
E-Way Bills:
- Generate E-Way Bills for the transport of goods exceeding specified value thresholds.
GST Annual Return:
- File GSTR-9 for a consolidated summary of annual transactions.
- GSTR-9C for businesses requiring GST audit.
GST Audit:
- Mandatory audit if turnover exceeds ₹5 crores.
TDS and TCS:
- Deduction and filing for entities required to collect or deduct tax at source.
Composition Scheme:
- File returns specific to the composition scheme (e.g., CMP-08).
Job Work Transactions:
- Maintain compliance records for goods sent on a job work basis.
Reconciliation:
- Reconcile GSTR-2B with purchase registers to ensure accuracy.
Reverse Charge Mechanism (RCM):
- Compliance for transactions where the recipient is liable to pay tax.
Special Returns:
- Filing under specific circumstances, like GSTR-10 (final return upon GST registration cancellation).
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