Due Date to file GSTR 1 is 10th Jan 2020 to avoid Late Fee

Due Date to file GSTR 1 is 10^th Jan 2020 to avoid Late Fee

All GST register person has to file GSRT 3B and GSTR 1. GSTR 3B is for monthly cumulative sale and payments of taxes whereas GSTR 1 is file bill wise details return and all issued invoice to vendor/ party  on monthly or quarterly basis.

If Registered GST business person does not file GSTR 1 on or before 10^th Jan 2020, they have to face following business challenge:

Ø  E way Bill: They are not able to generate E-Way Bill

Ø  Penalty: GST register person has to pay penalty for non filing GSTR 1 and maximum penalty will be Rs 10,000 per month.

Ø  Input Credit: You will be eligible for GST input only for those purchased bill by you if your supplier has file GSTR 1 on or before 10^th Jan 2020.

Cross Business Boundary in Year 2020

HAPPY NEW YEAR 2020

Enjoy year 2020 and play on front-foot in your business and life as in 20-20 format of cricket to achieve success within short-span.

Now’s Time to Cross Your Business Boundary

New Year brings new resolutions and inspires us to work hard and act smart.

Everyone has own boundary to dream and they work accordingly. All of us have dreams but we limit as per present market and cash- liquidity scenario.

A small shopkeeper having turnover of Rs 50,000 per month or Rs 6,00,000 per year cannot dream of having turnover of 10 Crore. They just think to increase their turnover by 20% to 50% and they become happy if it’s achieved. They Never think about Franchise model and multi brand under one roof like BATA, Liberty, Croma, Reliance Digital etc.

We all must understand the value of dreaming and create functional road map to achieve our dream. Everyone should have dream and we all should work towards fulfillment of such dreams.

We have a live example of  श्री Dhirubhai  Ambani :-  who started a job at Petrol pump but always dream Big & became the richest person of India before his death in 2002...WHY ?   Because Dhirubhai  Ambani had crossed business boundary through his vision.

All of us can achieve the same success if we follow process of business success system.

Process to make your business succeed

Ø Vision

Ø Effective Communication

Ø Business System

Ø Action Plan & Strategy

Ø Implementation and Execution

Ø Stay Focused

Ø SWOT/PEST  Analysis