1. Get detailed
working for Closing Stock for the period 31.3.2017 / 30.6.2017 before GST
Implementation date .
2. Allocate your closing stock into quantative
mode.
3. Get the A/c Statement from your Suppliers /
Creditors for the year ended 31/3/2017 & compare them with your books.
4. Rectify Mismatch Reports of Purchases, if it
exist.
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 at the
earliest.
8. Make a separate file of 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 ageing be made to ascertain if any stock
is more than 1year 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 your suppliers
of Goods & Services.
13. Obtain GSTIN of all Suppliers & Buyers.
14. Apply for migration in all states if you have
centralised 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. Analyse P & L and see which expenses are
liable to RCM.
19. Make sure your GST migration from VAT/Service
Tax is complete
20. Engage GST8 Consultant on professional basis.
21. Train staff to prepare tax invoice, advance
receipts, self invoice etc etc from June 2017 itself
22. If you are in ERP which is compatible with GST,
realign your General Ledger for easy reconciliation for Tax Return and GST
annual return
23. Make sure that all documents especially credit
and debit note is serially numbered.
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