With less than 10 days being left for the GST registration to start, the pandemonium in the ecosystem is at its peak. Businesses have been subjected to a truckload of information on GST, but there is still considerable lack of understanding. Businesses do not have any idea about the exact steps to be taken after migrating/registering under GST.

Here is a guide to help you with the deadlines and immediate steps to be taken:

If you are a TRADER/MANUFACTURER –

1)Proper Stock taking to be completed

2) Calculate the amount of taxes already paid on such materials and inputs available on them

3) Ensure that proper Invoicing has been done

4)Ensure that all returns have been filed with all the existing tax departments applicable to the business

If you are a SERVICE PROVIDER–

1) Ensure that proper Invoicing has been done

2) Calculate the amount of taxes already paid and inputs available on them

3) Ensure that all returns have been filed with all the existing tax departments applicable to the business

Compliances to be done immediately post transition period (July- September,2017)

1. 1st July, 2017 – GST Registration
2. By 20th August 2017 – GSTR3B
3. 1st – 5th September – File GSTR-1 for the month of July
4. 6th – 10th September – Download and Reconcile GSTR-2 for the month of July (auto populated from GSTR-1)
5. 16th – 20thSeptember – – File GSTR-1 for the month of August
6. 20th September – Pay tax and Upload GSTR-3B for August(Self declaration form)
7. 21st – 25th September – Download and Reconcile GSTR-2 for the month of August (auto populated from GSTR-1)

Last Service Tax Return for the period of April- June 2017 has to be filed by 15th of August, 2017

Every registered person has to file a Form GST TRAN-1 within 90 days of appointed date.

Input tax credit claimed in the return filed under previous laws for the period prior to the appointed day (1 July 2017) would be transferred to the electronic credit ledger. Existing manufacturers/dealers can claim the CENVAT credit in respect of input held in stock, semi-finished or finished goods held in stock certain conditions are satisfied.

Every taxpayer needs to file his return on self-assessment basis for the first two months i.e July and August. These return forms have to be filed by 20th of next month.