There are diverse types of Value Added Tax that a business needs to take care of while conducting their business. No matter if you sell services or products, you need to ensure that the both input and output VAT is timely registered and files. Failing to comply with a variety of VAT provisions can attract legal consequences and penalties from government bodies against you. As such, it is really important that you conduct timely VAT accounting to ensure that you comply with all the tax provisions of VAT and you are extremely sound when it comes to your tax compliancy. It helps a business fill tax returns effortlessly It enables the business to track tax records It considerably lowers the risk of tad audit from government It effectively reduces risk of legal consequences and penalties