GST Compliance

In the ever changing world of taxation, GST Compliance is a set of benchmark for the
new indirect tax system GST which is gradually establishing discipline among the
Indian citizens. The Indian Government has set some standards for the businesses
and also mandating them to comply with various guidelines to pay the taxes on time.

Importance of GST Compliance

Maintaining a high GST compliance can foster trust with the government and paying
long lasting benefits to the businesses. GST compliance ensures that the taxes are
collected and remitted correctly,preventing tax evasion and revenue losses.

Features of GST Compliance

The features of GST compliance contributes for maintaining a lawful and transparent
framework as,
 GST Registration - By registering under the GST Act, every business has to
obtain a unique Goods and Services Tax Identification Number .
 GST Returns - By mentioning the information regarding sales, purchases
and tax liability, every registered business has to file GST Returns.
 GST Invoicing - Every business need to issue GST Compliance invoices to
their customers with the specific details as per GST guidelines.
 Records and auditing - Tax authorities can conduct audits to verify
compliance and assess any potential discrepancies. Maintaining accurate and up
to date records of GST is necessary for GST Compliance.
 Input Tax Credit - Every business need to maintain the proper records of
purchases made for claiming of input tax credit.

Mr. Arun Narang will be the best person to guide you in providing valuable and
practical insights of GST Compliance.