Mastering GST Compliance for Wholesale Distribution
GST compliance is fundamental to keeping your business operations smooth and building credibility with enterprise buyers. Here is a handy checklist every wholesaler must follow.
Key Compliance Pillars:
- E-Way Bill Generation: Mandatory for consignment values exceeding ₹50,000 for inter-state and specified intra-state movements.
- Timely ITC Reconciliation: Reconcile GSTR-2B monthly to ensure you do not lose out on legitimate Input Tax Credit.
- Accurate HSN Code Mapping: Incorrect HSN codes can trigger tax demand notices and audit red flags.
