All you know about E-Way Bill Rollout from 1st April, the new change in GST Registration Rules
GST Registration has been a hot topic for debate ever since its launch from 1st July 2020. Though people and business registration are sure about the positive impact of GST Registration in long run but it is also true that GST Registration has created a lot of inconvenience to business registration and company registration.
One of the major reason for GST Registration teething problem has been the inefficacy of IT Infrastructure needed for GST Registration. Electronic bill or E-Way bill was actually decided to be rolled out from 1st Feb 2019, but the launch was delayed to 1st April 2019.
As leading GST Registration Consultant, we are enumerating all the points of e-way bill which you would need to know if you are owner of a Private Limited Company Registration or LLP Registration or Firm Registration or NGO Registration:
Requirement for e-way bill under GST Registration: E-way bill under GST Registration is mandatory for transportation of goods between two states if the cost of Good Transportation is more than 50,000
GST Return Filing: CBEC has notified filing of GST Return till June. The form is called GSTR-3B . All Private Limited Company Registration and other form of Company Registration having GST Registration should continue filing GST Return as before. The rules of GST Return filing are expected to change in June-2019
Intra State movement of Goods: Last time when e-way bill was being launched, there was a system collapse. This time government has staggered requirement of e-way bill to 15th April for Inter State movement. Hence it is advisable for Company Registration to get themselves ready for new change in GST Return Filing rules.
Requirement of e-way bill: Company Registration involved in transportation will have to ensure that the trucks or vehicles carrying goods can present e-way bill if asked by inspector. This will ensure that tax evasion incidents are stopped.
Set Quarterly target for your company registration: Star with a plan as to where do you want to see your Private Limited Company Registration and yourself after 1 year. Breakdown the same to quarter basis and set yourself and your team a target for every quarter. Please note that target should not be very steep as it is more important to achieve targets than to just set them. At end of each quarter, sit down with your team and review the performance.
It is advisable to set quarterly targets as it gives you time for course correction if you feel that your company registration will be unable to achieve the target with current strategy.
Do proper accounting for your Private Limited Company Registration: Either have an in house accountant or hire an accounting service providers to do monthly accounting. The biggest advantage for doing monthly accounting is that it not only helps you in having compliance in place but it also helps you to keep a control on account receivable and cash flow.
Activate at least 1 new marketing channel for your business every quarter: For a new company registration, it always helps to have your eggs in more than 1 basket. Try exploring a new marketing channel like online, listing sites, social media, cold calling, door to door, new geography etc. every quarter and the persist it for 3 months (tweaking it if necessary). Even if a new market channel can help you acquire 1 customer, it can always be scaled up.