GST :Invoice a essential tool

Mumbai, June 30: As GST approaches many traders are worried. Many people have been rushing to tax experts and charted accountants for the advice. Let's have a look at the steps that must be taken by people
who are involved in the supply chain. All traders must create GST invoices. the following steps must be taken to create invoices.

* First one must register his business and create GSTIN (GST Identification number) this can be obtained
online as well as from government officials.

* GSTIN of your buyer must be collected.

* Business must find out the HSN (for Goods) and SAC (for services), these can be available from GST website.

* Figure out the tax rate of the goods/services in which your item falls.

* Place your order based on the above details.

* Claim input tax credit based on your return filed.

Finally, the tax advisors have given a suggestion that all business must be aware of all rules so that they don't face any problem.