More than nine months have passed since the launch of India’s Goods and Services Tax (GST), and many businesses still have gaps in their compliance or questions about the new requirements. And with monthly GST changes and weekly notifications by the government, it’s no wonder. Nevertheless, your business must carefully manage your GST compliance to help avoid penalties and fines, retain a positive image, and position yourself for success in the market.
Since being tax savvy is no longer optional, it’s important to understand what it takes to achieve compliance. Software applications, such as Avalara TrustFile GST, can assist you and companies throughout India with end-to-end GST compliance. Furthermore, this checklist outlines 16 tasks necessary for your company to comply with GST and take advantage of the business opportunities the new tax system introduced.