How can we survive GST risks?
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GST compliance feels like it could wipe out my entire monthly profit if a supplier makes a mistake. Why aren't we seeing more protection for honest buyers, such as faster tax credits or penalty relief? How are other small businesses actually surviving this risk?
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Dealing with ITC loss can be such a pain. Here’s a simple tip: make it a habit to check your suppliers' GSTIN every month. Using a tool like ExpressGST can really help keep your 2B data in check. Also, if you include ‘proof of filing’ in your vendor contracts, it gives you some solid protection. A lot of successful small businesses do this as a quick 20-minute weekly task. It's really not much to ask, and it helps keep your cash flow safe from any GST mismatches.
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