सविस्तर माहितीसाठी इकॉनॉमिक टाइम्स मधील बातमी वाचावी.

GST, a comprehensive indirect tax system is all set to subsume a host of existing indirect taxes and with its implementation, compliance will become a key factor for the success and credibility of a business. GST works on a self-monitoring mechanism, which is matching the concept of invoice between supplier and recipient of goods and services. Only after matching of invoices and payment of tax by the supplier, the input tax credit will be available to the recipient.

Thus, a customer will always want to do business with vendors who are compliant. This results in a change of relationship between supplier and recipient from ‘customer-cum-emotional relationship to compliance relationship’.

Hence under GST, non-compliance will not only affect your cash outflow in paying fines, interest, and penalties but also affect the continuity your business and compliance rating.

Let us understand the various returns to be furnished under GST and things to be taken care of during return filing.

via GST: Return Filing – Under GST, this is how you will file tax returns from July 1 – The Economic Times