GST number is mandatory when the turnover crosses beyond 20 lakhs, not necessary if it is coming in cash or cheque.
When your vendor files his GSTR-1 he has considered the invoices for which you have paid GST to him. This credit is used on provisional basis while filing GSTR 3B. If the credits are not reflected against your GSTR - 2A department has right to reject the credit availed earlier. In such cases it is important to do GST Input Reconciliation through CFO Angle Reconciliation tool monthly.
We are not authorized to do GST audits as this is done by Chartered Accountants and Cost Accountants. We will help in consolidating the data and make it GST ready.
If any dealer has multi city or multi state office then he has to take registration for that state and include additional place of business. If not some of the input on purchases from that state is not available for offset.
All registered dealer having turnover <1.5 Cr have to submit quarterly (Option to submit monthly) GSTR-1 and monthly GSTR 3B. Dealer having turnover > 1.5 Cr have to do it monthly GSTR-1 & GSTR 3B.
Monthly Sales and Purchase information.
Monthly sales including details of the invoices raised to each registered and unregistered dealers.
All notices received from any department should not be ignored. A case where it ignored can lead to serious issues in the future. Include a tax consultant for him to respond it on time.
Mostly all the above registration has direct impact on the employees, so it is always advised to have them taken on time and all compliances are fulfilled timely.
There is no go, better and best combination for a legal format of the organisation. All registrations are based on the requirement we have to grow organization and setup to following in the future. Like in the case of startup looking for fundings, it would be difficult to attract a potential investor if it is LLP.
Once a company is created it comes with legal boundations and a legal process has to be followed for liquidation.