Point Of Action To Be Taken To Adopt GST
- Migrate the Registration
- Classifying the transaction into Goods and Service and Place of Provision
- Get the tax rate of the goods and service
- Prepare the detail of Stock in hand
- Prepare the detail of Capital Goods in Hand
- Filing of form GST Tran-01 for claiming input held in stock
- Prepare the list of unregistered supplier (as on reverse charge basis tax to be paid by recipient)
- Maintenance of record of credit and debit note
- Preparation of necessary particulars to be included in Invoice
- Updation of GSTIN to Vendors and customers which will be different in different states.
- Upgrading or changing the accounting software
- Understanding place of supply for GST Impact
- Understanding sales policy including return of goods for GST impact
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