If you're registered for GST and leave everything to your tax consultant, it's important to stay involved. In my video, I share my personal experience managing GST for my small business and the costly mistakes I made by not staying on top of my returns.
My Key Lessons:
- Trust, but verify – Even if you have a tax consultant, you’re ultimately responsible for your GST filings.
- Input tax credit loss – If your purchases aren’t recorded correctly, you can’t claim back taxes paid to suppliers.
- Use tools like Zoho Books – Software like this makes it easier to track and approve filings, so you don’t lose money.
Watch the full video to hear how I learned to take control of my GST and how you can avoid the same mistakes.
