It has been more than 2 years since GST first implemented. But still, some people are unaware of the important details of GST and do not know how to do GST registration in Mumbai.

1. Filing GST Returns in Time

You should file your GST returns in time to avoid any notices from the Government. The government penalizes you if you do not file your GST Return on time. You will also have to pay interest on your Return.

1. Uploading Data in GSTR 1

GSTR 1 filing requires you to provide various details. You cannot amend the details once submitted. Hence the details you provide must be correct and you should also ensure that there are no mismatches in the data found at the time of GST Reconciliation.

1. Maintaining Proper Documentation

One of the important parts of not being on the wrong side of the tax filing is to maintain your documents properly. Even if your business does not under GST audit criteria, you should keep the healthy habit of maintaining proper documents.

1. Reconciling GST Returns with your Books of Accounts

This is to help you in identifying the errors and omissions. Reconciling saves you a lot of time, interest and penalties as all the errors or omissions are already found and addressed before.

1. Reconciling E-Way Bills Issued with the invoice details furnished in GSTR 1

You should always reconcile your e-way bills issued with that of invoice details under GSTR 1. The government can send you to notice in case of a mismatch of invoice details.

1. Reconciliation between GST Returns

If you reconcile your purchase register with your GSTR 2A, you can get accurate Input Tax Credit.

1. Reverse-Charge Mechanism (RCM) concept

You are entitled to claim ITC in case of reverse charge payments. It is also important to stay updated about all the important notifications issued by the government regarding the reverse charge mechanism

1. Information GST Authorities regarding a change in business

If there are any changes in the details of business filled during the registration, you need to inform the GST authorities 15 days before the changes an application must be submitted o the GST portal.

1. GST Audit

If your business turnover exceeds 2 crores INR mark you should get your books of accounts audited by a CA or CMA.

BDS Legal Services is one of the best GST registration service provider in Mumbai. Reach us to know more.

The patent registration is one of the critical and important processes in India. The idea or invention that can help the organization to get a competitive edge in the sector or industry. 

The patent registration would protect such ideas and inventions being duplicated by anyone else with legal consideration. The patent registration is the legal protection that the organization attains for the invention or ideas that would help them to run their business more successfully. 

Why is it necessary to apply for patent registration in India?

1. ROI

The ROI of the organization can be enhanced by multiple folds with the patent registration. The patent registration enables the organizations to perform better than other competitors in the industry. 

1. License

The patent registration provides the license to sell the invention to any other organization if the efforts would be of benefit to the organization. 

1. Brand Image 

The brand image of the organization would be established in a positive manner with the patent registration.

 Rights

The patent registration would provide exclusive rights to the organization to use the idea or invention that would help the organization to stay ahead of their competitors.

1. Better Business

The patent registration helps build trust and loyalty about the organization among the audience. This, in turn, would help the organization to run the business more efficiently. 

The patent registration is one of the most critical processes that any organization would want to attain to run the business more efficiently and in a smooth manner.

BDS Legal Services was founded in 2012 and has since expanded with an outstanding record for its diligent, efficient and innovative legal guidance centred based on credibility and integrity. Our proficiency to assist clients is to navigate through complex legal registrations, tax returns and intellectual property rights solutions in India.

It has been more than 2 years since GST first implemented. But still, some people are unaware of the important details of GST and do not know how to do GST registration in Mumbai.

1. Filing GST Returns in Time

You should file your GST returns in time to avoid any notices from the Government. The government penalizes you if you do not file your GST Return on time. You will also have to pay interest on your Return.

2. Uploading Data in GSTR 1

GSTR 1 filing requires you to provide various details. You cannot amend the details once submitted. Hence the details you provide must be correct and you should also ensure that there are no mismatches in the data found at the time of GST Reconciliation.

3. Maintaining Proper Documentation

One of the important parts of not being on the wrong side of the tax filing is to maintain your documents properly. Even if your business does not under GST audit criteria, you should keep the healthy habit of maintaining proper documents.

4. Reconciling GST Returns with your Books of Accounts

This is to help you in identifying the errors and omissions. Reconciling saves you a lot of time, interest and penalties as all the errors or omissions are already found and addressed before.

5. Reconciling E-Way Bills Issued with the invoice details furnished in GSTR 1

You should always reconcile your e-way bills issued with that of invoice details under GSTR 1. The government can send you notice in case of a mismatch of invoice details.

6. Reconciliation between GST Returns

If you reconcile your purchase register with your GSTR 2A, you can get accurate Input Tax Credit.

7. Reverse-Charge Mechanism (RCM) concept

You are entitled to claim ITC in case of reverse charge payments. It is also important to stay updated about all the important notifications issued by the government regarding the reverse charge mechanism

8. Information GST Authorities regarding a change in business

If there are any changes in the details of business filled during the registration, you need to inform the GST authorities 15 days before the changes an application must be submitted o the GST portal.

9. GST Audit

If your business turnover exceeds 2 crores INR mark you should get your books of accounts audited by a CA or CMA.

BDS Legal Services is one of the best GST registration service provider in Mumbai. Reach us to know more.

It has been more than 2 years since GST first implemented. But still, some people are unaware of the important details of GST and do not know how to do GST registration in Mumbai.

1. Filing GST Returns in Time

You should file your GST returns in time to avoid any notices from the Government. The government penalizes you if you do not file your GST Return on time. You will also have to pay interest on your Return.

2. Uploading Data in GSTR 1

GSTR 1 filing requires you to provide various details. You cannot amend the details once submitted. Hence the details you provide must be correct and you should also ensure that there are no mismatches in the data found at the time of GST Reconciliation.

3. Maintaining Proper Documentation

One of the important parts of not being on the wrong side of the tax filing is to maintain your documents properly. Even if your business does not under GST audit criteria, you should keep the healthy habit of maintaining proper documents.

4. Reconciling GST Returns with your Books of Accounts

This is to help you in identifying the errors and omissions. Reconciling saves you a lot of time, interest and penalties as all the errors or omissions are already found and addressed before.

5. Reconciling E-Way Bills Issued with the invoice details furnished in GSTR 1

You should always reconcile your e-way bills issued with that of invoice details under GSTR 1. The government can send you notice in case of a mismatch of invoice details.

6. Reconciliation between GST Returns

If you reconcile your purchase register with your GSTR 2A, you can get accurate Input Tax Credit.

7. Reverse-Charge Mechanism (RCM) concept

You are entitled to claim ITC in case of reverse charge payments. It is also important to stay updated about all the important notifications issued by the government regarding the reverse charge mechanism

8. Information GST Authorities regarding a change in business

If there are any changes in the details of business filled during the registration, you need to inform the GST authorities 15 days before the changes an application must be submitted o the GST portal.

9. GST Audit

If your business turnover exceeds 2 crores INR mark you should get your books of accounts audited by a CA or CMA.

BDS Legal Services is one of the best GST registration service provider in Mumbai. Reach us to know more.

Legal procedures take a toll on physical and mental health. The BDS Legal Services are at your aid to make the process simple and clear. The legal services provided include Trademark Registration, Company Formation, FSSAI License, ISO certification, Patent Registration, Copyright Registration and more.

Dial-up if you need any of these services : 022 50677210