GST compliance

GST (Goods and Services Tax) compliance involves accurately collecting, reporting, and paying the applicable GST on sales and purchases. Businesses must maintain detailed records of transactions, file regular GST returns with the government, and remit the collected tax. Proper compliance ensures adherence to legal requirements, avoids penalties, and enables smooth business operations. It also involves claiming eligible input tax credits to reduce overall tax liability. Staying compliant requires understanding GST rates, timely filings, and meticulous record-keeping, helping businesses operate transparently within the regulatory framework.