The 11:
1. Display of GSTN on the main gate outside the office premises that is clear to every visitor.
2. Display of Gst Registration certificate at the prominent place of the business premises.
3. As per Section of CGST Act, 2017 Non-Compliance of the above can be penalized up to Rs.50,000.00.
4. Mentioning of all business premises on GST RC.
5. Display of GST number is must at all the business locations/ premises as per point no. 4 above.
6. Make sure to mention exact/ principal business activity on the Gst RC for that place of business. For different GSTNs, there can be a possibility that one GSTN is more of a wholesaler, other GST number is into reseller, other GST number is a manufacturer; so the Gst RC should mention that business activity which is closest to the principal business activity.
7. Mentioning of Aadhar number is mandatory on the Gst portal of that Gst number. The Aadhar number should be of the business owner. Also, the phone number registered with Aadhar number should be linked with the Gst portal.
8. The Govt. will be using ADVAIT (Advanced Analytics in Indirect Taxation)– Tax 360oat every stage of the business and is working to implement it quickly.
9. Minimum time Period for Retaining books of Accounts under GST
10. Maintenance of Self invoice or Payment Voucher in case of RCM tax. This seems to be an ignored act where in, it is required to issue self-invoices and payment voucher.
11. As per the provisions of GST Law, ITC is permissible post receipt of goods (except some exceptions such as receipts at job work premises, receipt by agent, etc). Ensure to check, if the date of claiming ITC is post challan/ GRN date. Care must be taken for the month end procurements, where supplier invoice may be date end of the month and goods are received in next month.
Source Taxguru
