.png%3Ftable%3Dblock%26id%3D2a0bbc47-e224-4478-8d07-77851e5938f9%26cache%3Dv2&w=3840&q=75)
I finally got my GST number and here’s what you need to know about it!
If you have a revenue of more than 20L per year, GST might be mandatory for you. It has its own benefits, the only thing is compliances increase as well. You need to maintain invoices and bills but I've been using different tools like OpenFlo, Refrens, and so on to get it done for now. You can check out my detailed YouTube video on Openflo for more info.
What I’ve learnt from my CA is that once you get your GST number, any sort of business purchase that you do, for eg buying a camera for making reels, you can claim the GST amount which is usually around 18% as credit.
In simple terms if you’re smart about it, you end up paying less taxes. And this was Day 23 24 of the challenge!