5 things that will make you GST ready

GST law is by no means a simple tax law ('simple tax' is of course an oxymoron). Additionally, the GST Rule set (14 Rules) provide for detailed documentation requirements. Apart from taming the elephant in the room , read 'managing mismatches of input credits', configuring ERPs to multiple rates, State level GSTINs, different types of reverse charges, TDS and TCS BSE -0.95 %, applicable GST on job work and advances is going to keep India Inc. on its toes. As it evolves, one can expect frequent updates and amendments in the GST law, particularly in the first year of its implementation. 

·          Cross-functional training

·          Transition planning 

·          Technology re-vamping

·          Focus on business network partnership

·          Cross-functional training