E-Book on Future of GST Compliance | Future of GST Compliance Ebook

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Several changes in GST compliance were introduced during the last quarter of 2020. The objective, on one side, was to make life easier for small businesses which are worst hit by the lockdown and on the other side, was to tighten the rules to keep fraudsters and malpractices for tax evasion at bay.

While we need to wait and watch how effective these measures have been, the compliance tasks for all businesses are going to be significantly influenced by these measures. In light of these changes and constant evolution of technology and innovative solutions flooding the market, this e-book compiles the key drivers and considerations for your GST compliance for 2021.

Many new rules and practices have come into effect from Jan 2021, which affect taxpayers, large and small business owners in different ways. This e-book talks about all of them in utmost detail.

1
Reconciliation is the flavour of the year
Reconciliation never goes out of fashion! In 2021, it will be needed at multiple levels including E-invoicing and GSTR 1, Tax liability and ITC in auto-computed GSTR 3B, and for Direct and Indirect Tax Data.
2
Rising Importance of Vendor Management
If your vendors are not compliant, your ITC claim gets compromised. This e-book touches upon the vendor’s GST Compliance frequency, e-Invoicing applicability to your vendor, and how to deal with missing invoices.
3
Key Role of e-invoicing in GST Compliance
The benefit of e-invoicing can be realized if the standard is adopted internally in the invoicing process. This includes capturing minimum data as required for IRN generation, upgrading the standard masters, and adhering to validations.

Many new rules and practices have come into effect from Jan 2021, which affect taxpayers, large and small business owners in different ways. This e-book talks about all of them in utmost detail.

1
Reconciliation is the flavour of the year
Reconciliation never goes out of fashion! In 2021, it will be needed at multiple levels including E-invoicing and GSTR 1, Tax liability and ITC in auto-computed GSTR 3B, and for Direct and Indirect Tax Data.
2
Rising Importance of Vendor Management
If your vendors are not compliant, your ITC claim gets compromised. This e-book touches upon the vendor’s GST Compliance frequency, e-Invoicing applicability to your vendor, and how to deal with missing invoices.
3
Key Role of e-invoicing in GST Compliance
The benefit of e-invoicing can be realized if the standard is adopted internally in the invoicing process. This includes capturing minimum data as required for IRN generation, upgrading the standard masters, and adhering to validations.

- GST Changes in 2020
- The 3 C’s of GST compliance – GST Compliance Landscape
- Top 3 compliance trends for this year
1. Reconciliation is the flavour of the year
2. Rising Importance of Vendor Management
3. Key Role of e-invoicing in GST Compliance
- Looking beyond core GST compliance
- Tax -Technology is the future
- IRIS’ Integrated Solution

GST Compliance Trends 2021 Ebook Cover PAge

Shilpa Dhobale

VP-Design and Innovation

A management accountant by profession and dreamer by will, Shilpa wears the dual hat of Domain-Head and Product Head. As Product Head, she drives product conceptualization, management, and design and user experience for IRISGST’s suite of products. As Domain Head, she leads the domain team working on the business logics, input formats and validation rules for quality GST filings.

Starting her career with IRIS in 2005, Shilpa has played a significant role in setting up the taxonomy development and consulting practice here, designing and developing taxonomies for several jurisdictions and strategically supporting regulators to frame their structured data implementation programs.