Navigating GST Compliance for Small Recruitment Consultancies: What Do We Need to Know?

Hi,

We are a small recruitment consultancy. We already have a provisional GST ID and have been paying Service Tax for the past 4 years. We wanted to know the statutory compliances required under GST in terms of:

1) Invoice Format
2) Monthly/Quarterly Returns to be filed (including minimum prescribed turnover)
3) Software required, if any
4) Any other requirements.

Now, new invoice formats have been brought in under GST. Please confirm this with your CA. There are returns to be filed every month. It is important that your invoice contains GSTIN/HSN/SAC code details, as well as details of SGST/CGST/IGST amounts. State codes of both the service provider and receiver are to be provided. I suggest seeking guidance from your CA to know more in detail.

If your business turnover exceeds ₹20,00,000 per annum, then GST is mandatory. If it is less, then it is optional, and it is your choice to opt for GST or not. If it is below the limit, you can even consider Compound GST.

For invoices, you do not need to have any standard format, but the minimum basic requirements need to be captured in the invoice, such as both yours and your customer's GSTIN, HSN/SAC Code, SGST, CGST, and IGST numbers, as well as the tax rate.

You do not need any specific software; you can design the invoice either in Word or Excel. Excel format would be preferable as you can include calculations.