Are You GST Compliant
After the implementation of GST, the biggest question before every existing asessee of Indirect tax and upcoming new assessee under GST regime will how to make compliance of GST.
The saga of GST compliance is un-ending since it will have various implications and one has to be ready for filing more returns under the tenure of GST.
It must be noted that in the history of indirect taxes, GST is going to be highly compliance law than ever.
Pre-GST Era
At present, tentatively the following returns are to filed under different heads:
Excise
i) ER1
ii) ER 4
Service Tax
i) ST 3
ii) Annual Return
VAT ( State wise)
i) Monthly/Quarterly Returns
ii) Annual Return
iii) Audit Reports
Post GST Era
GSTR1 – Outword supplies ( it will show datas of sales, stock transfer & export )
GSTR 2- Inward supplies (purcahses and import )
GSTR3 – consolidated return of outward and inward supply information
GSTR 7- TDS
GSTR 8- Annual Return