GST Compliance Involves Various Key Activities

GST Compliance Challenges For Taxpayers

Businesses operating in India encounter several obstacles when striving to comply with the Goods and Services Tax (GST) system. Here are some prevalent challenges:

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Complexity

The GST framework itself is intricate, featuring multiple tax rates, elaborate return filing procedures, and frequent updates to monitor. This complexity can be particularly burdensome for small and medium-sized businesses (SMBs) that may lack dedicated resources for GST compliance.

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Management of Input Tax Credit (ITC)

A primary advantage of GST is the ability to claim credit for taxes paid on inputs. However, effectively managing ITC claims can be challenging, and errors can result in penalties.

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GST Portal Challenges

The GST portal, utilized for filing returns and fulfilling other compliance tasks, has encountered technical issues in the past. These glitches can cause delays and frustrations for businesses.

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Dealing with Non-Compliant Vendors

Engaging with vendors who are not GST-compliant can pose difficulties for a business's Input Tax Credit (ITC) claims.

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Lack of Awareness

Particularly in the early stages, there was insufficient understanding of the intricacies of GST among certain businesses, leading to inadvertent non-compliance.

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E-way Bill Management

Handling the generation and management of e-way bills for goods transportation can be demanding.

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Timely Compliance

Adhering to deadlines for filing returns and making payments is vital for maintaining compliance with GST regulations.

Documentation

Provide mechanism to gather important documents related to GST return filing on timely basis from user as well as Clients.

Event Based Compliances

Provide mechanism for specific event based compliance done on timely manner.

Input Tax Credit (ITC) Management

Efficiently track and claim Input Tax Credit, optimizing the benefits of GST.

Record-Keeping

Efficiently organize and maintain business records pertinent to GST, facilitating easy access and audit readiness.

Compliances According to Dealer Type

EazeMax provide different compliances applicable to Client according to their dealer type (For Eg Different types of return compliance according to Regular or Composition taxpayer type)

Turnover Input & Compliance Questionarie

Start by entering turnover details to activate GST compliance. This enables you to track both monthly and quarterly compliance. After that you can use Questionary for the specific compliance which you want to follow

EazeMax Turnover Input and Compliance Questionnaire

Compliance Dashboard

Navigate to the compliance page where you can select and manage the relevant returns for your business.

EazeMax Software GST Compliance Dashboard
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