With the introduction of the GST in India, the tax keeping has been changed completely. The GST, which is the biggest tax reform introduced in India since after the Independence, has taken the business world by storm and quite rightly so.

Not only has it made book-keeping a much more serious job for those in the business sector, but it has also minimized the chances of any fraudulent tax filings. Now, because of the goods and services tax, as well the goods and services tax network or the GSTN, you as a business owner must be extra careful in maintaining your books and ledgers to ensure it is error-free.

Before the introduction of GST, you could tell your tax adviser that you want to pay a certain amount as taxes and they would keep your books in such a manner so that you desired amount is what you have to pay as taxes eventually. But now, because of the GSTN, everything is connected, and there is no chance of you being able to manage your entries so that you can pay fewer taxes.

Earlier, the only thing that the tax officers had access towards the tax books maintained by you and your employees. But the GSTN makes it into one unified platform that presents every single transaction very clearly to the officer examining your books. For every transaction you make now, your customer or vendor also files a transaction report which makes it impossible for errors to go unnoticed by the tax officer.

For this reason, choosing the wrong vendor can kill your business.

If you do not choose a vendor who is honest will not cheat when filing their tax returns, it can land you in real trouble. If the vendor you choose decides to file tax returns wrongly, it can implicate you and make it seem like you are trying to be non-compliant with the GST.

Earlier, this was not a big problem. But being non-compliant with the GST is not only illegal now, but can also be the death knell for your business. It can ruin the reputation of your business, and since reputation is the most important thing about any brand, this is something you want to be very careful about.

You must make sure always to be careful when choosing the vendors for your business.