Are you Ready for GST? Check GST Preparedness Checklist
Goods and Service Tax (GST) is most significant indirect tax reform in Indian history. It will impact each commercial / business activity and stakeholders.||Goods and Service Tax (GST) is most significant indirect tax reform in Indian history. It will impact each commercial / business activity and stakeholders.||Goods and Service Tax (GST) is most significant indirect tax reform in Indian history. It will impact each commercial / business activity and stakeholders.||Goods and Service Tax (GST) is most significant indirect tax reform in Indian history. It will impact each commercial / business activity and stakeholders.||Goods and Service Tax (GST) is most significant indirect tax reform in Indian history. It will impact each commercial / business activity and stakeholders.||Goods and Service Tax (GST) is most significant indirect tax reform in Indian history. It will impact each commercial / business activity and stakeholders.||Goods and Service Tax (GST) is most significant indirect tax reform in Indian history. It will impact each commercial / business activity and stakeholders.||Goods and Service Tax (GST) is most significant indirect tax reform in Indian history. It will impact each commercial / business activity and stakeholders.

GST Preparedness Checklist
- Have you completed GST Migration and obtained provisional GSTIN?
- Have you identified HSN Code of Finished Goods, Raw Material and Consumable?
- Have you identified proposed GST rates for Finished Goods, Raw Material and Consumables
- Have you identified Accounting Code of output service and input services?
- Have you identified proposed GST rates of output service and input services?
- Have you checked is there any exemption under GST for Finished Goods, Raw Materials and Consumables?
- Have you checked is there any exemption under GST for output service or input service?
- Have you identify which of the purchase of goods / services on which you have to pay GST on reverse charges?
- Do you kwon on which inward supply of goods/service you would get Input Tax Credit (ITC)?
- Do you have format of Tax Invoice to be issued to your customers?
- Do you have format of Bill of Supply to be issued in case of supply of exempt goods / services?
- Do you have format of receipt to be issued for advance received?
- Do you have format of invoice to be issued for purchase from unregistered person and other inward supply of goods and services covered under reverse charge?
- Do you have format of payment voucher to be issued to suppliers in case of inward supply of goods and services covered under reverse charges?
- Do you have format of Credit Not and Debit Note to be issued under GST?
- Have you decided to opt for composite scheme under GST or not? If Yes, then you have to apply within 30 days from appointed date of GST.
- Have you get your books verified to ensure no credit has been left to be taken in returns under existing law?
- Have you filed all the returns up to appointed date under existing laws?
- Have you received Form C, F, H, I etc. under Central Sale Tax Act related to all out of state purchase up to appointed date?
- Have you compiled details of unavailed CENVAT Credit (ED, CVD and SAD) on capital goods as on appointed date?
- Have you compiled details of unavailed credit of VAT and Entry Tax on capital goods as on appointed date?
- Have you compiled details of stock held in inputs or contained in semi-finished and finished goods as on appointed date for which you posses duty paid invoice or other documents?
- Have you compiled details of stock held in inputs or contained in semi-finished and finished goods as on appointed date for which duty paid invoice or other documents are not available? (Applicalbe only to person other than manufacture and service provider)
- Have you compiled details of stock held in inputs or contained in semi-finished and finished goods as on appointed date for which you posses invoice or documents evidencing payment of VAT or Entry Tax.
- Have you compiled details of stock held in inputs or contained in semi-finished and finished goods as on appointed date for which no invoice or documents evidencing payment of VAT or Entry Tax is available.
- Have you compiled details of transfer of cenvat credit for registered person having centralized registration under existing law?
- Have you compiled details of goods sent to job-worker and held in his stock on behalf of principal as on appointed date?
- Have you compiled details of goods held in stock as agent on behalf of the principal as on appointed date?
- Have you compiled details of VAT or Service Tax paid on inputs or input services under existing law but supply of goods or service made after appointed date?
- Have you compiled details of goods sent on approval basis six months prior to the appointed day?
- Have you thought how would you compile data to be entered in returns under GST?
- Have you compiled and updated details of your vendor such as name, address, GSTIN etc.?