HOW To Get READY For GST .
Ask Client For;
1. Get Complete your working for Closing Stock for the period 31.3.2017 / 30.6.2017
before GST Implementation date.
2. Allocate your such stock into quantitative mode.
3. Get the A/c Statement from your Suppliers / Creditors for the year ended 31/3/2017
& compiled them from your books.
4. Rectify *Mismatch Reports of Purchases *, if persists.
5. Revise your Vat Returns if point no.4 applies to you.
6. Make strict follow-up to Collect all the C forms/H Form/ I forms.
7. Get your Books Finalise for FY 2016-17
8. Make a separate file for those items which are shown in your Unsold stock as on 30.6.2017 e.g.
Purchase Bills/ Bill of Entry/ Excise Paying Documents etc.
9. Stock aging is made to ascertain if any stock is more than 1yr old. If yes then dispose it
off immediately or sell it to your sister concern against Tax Invoice locally.
10. Classify stock tax rate wise, purchased locally to get ITC into SGST.
11. Classify stock purchased on invoices bearing Duty Payment & non-duty payments to get
ITC transferred to CGST.
12. Inform your GSTIN / ARN to all Suppliers of Goods & Services.
13. Obtain GSTIN of all Suppliers & Buyers.
14. Apply for migration in all states if you have a centralized registration under Service Tax.
15. Train your accountants for GST accounting and returns formats.
16. Make Chart of HSN CODES & GST Rates on your goods & services to be purchased & Sold.
17. Check whether any stock of one year old is lying with you.
18. Analyze P and L and see which expenses are liable to RCM.
19. Be in regular touch with your GST Consultant.