GST is simple in theory but complicated in execution.
Most errors happen due to small oversights — and businesses pay for them later.
Here are the most common mistakes Indian SMEs make.
1. Missing Monthly Filing Deadlines
This leads to:
- Late fees
- Interest
- Risk of ITC mismatch
Avoid by maintaining books monthly.
2. Wrong or Delayed ITC Claim
Not matching GSTR-2B leads to ITC loss.
3. Not Reconciling Ecommerce GST Reports
Marketplace reports often:
- Change values
- Add delivery fees
- Add commission variations
- Include returns
Reconciliation is essential.
4. Not Tracking Input GST Properly
Expenses, purchases, shipping fees — everything affects ITC.
5. Using Offline Accountants
Manual entries cause recurring mistakes.
Cloud-based accounting solves this.
6. Not Filing NIL Returns
Even if there are no sales, GST must be filed.
7. Not Updating HSN Codes
Wrong HSN creates compliance errors.
How Om Accounting Helps
We provide:
Support on WhatsApp & phone
Monthly GST filing
Accurate books
Marketplace GST reconciliation
ITC matching
Cloud-based accounting