Goods and Services Taxes

The advent of GST has led to the implementation of a uniform indirect tax system across the country. While assisting our clients with the every-day challenges faced by them in implementing GST, we also keep a track of pending assessments, litigations, investigations related to VAT, Service Tax, Excise and other local taxes. It is crucial to comply with the current indirect tax provisions while maintaining a track of the old regime. Our indirect tax services include:

Complete range of GST compliance and implementation services, including:

Filing of returns

GST advisory and representation

GST audit

GST assessment

Assistance with:

GST digital compliance

GST services

Reconciliation of uploaded data with the financial system

Services related to:

Customs

Value Added Tax

Excise

Foreign Trade Policy Assistance

Dealing with pending assessments

GST Return Filing

A GST Return Filing is a return document that contains details of the income of the taxpayer. It has to be filed with the GST administrative authority. The document is used by tax authorities to calculate a taxpayer's tax liability. A GST Return Filing form has to include the following details.

Output GST (On sales)

Sales

Input tax credit (GST paid on purchases)

Purchases

For filing a GST Return, you need to have GST compliant sales and purchase invoices attached.

Preparation of GST application

One of our GST representatives will collect all the required documents and process the GST application 

Application Filing

Once all the documents are collected, the application will be processed and filed. Following that, an ARN number will be issued.

GST Registration Certificate

The GST registration certificate and GSTIN will be issued upon verification of the GST application and other mandatory documents by the GST Department. Be aware that no hard copies of the certificate will be issued and the GST registration certificate can be downloaded from the GST Portal.

Penalties For Failure To Register For GST

As per Section 122 of the CGST act, in India, there is a direct penalty for all those taxable persons who fail to register for GST.

Voluntary Registration Under GST (for Companies With A Turnover Below Rs.20 Lakhs)

Any small business with a turnover less than 20 lakh can voluntarily register for GST even though it is not compulsory by law. Voluntary GST registration has its own advantages and some of them are:

Take input credit: In GST, there is a flow of input credit right from manufacturers of goods till consumers, across the country. Input credit means a taxpayer while paying tax on output can deduct the tax that has already been paid on inputs and pay only the remaining amount. Voluntary registered businesses can increase their margins and profits through this.

Do inter-state selling with no restrictions: SMEs can increase the scope of their businesses and find prospective customers and explore online platforms

Register on e-commerce websites: SMEs can widen their market by registering on e-commerce sites.

Have a competitive advantage compared to other businesses.

GST Return Filing

A GST Return Filing is a return document that contains details of the income of the taxpayer. It has to be filed with the GST administrative authority. A GST taxpayer's tax liability is calculated using this document by the tax authorities. A GST Return Filing form has to include the following details.

Output GST (On sales)

Sales

Input tax credit (GST paid on purchases)

Purchases

For filing a GST Return, you need to have GST compliant sales and purchase invoices attached.

Documents required for Online GST registration

The list of documents required for registration of GST for various businesses is as follows:

Proprietorship

PAN Card and address proof of the proprietor

LLP

PAN Card of LLP

LLP Agreement

Partners’ names and address proof

Private Limited Company

Certificate of incorporation

PAN Card of the Company

Articles of Association, AOA

Memorandum of Association, MOA

Resolution signed by board members

Identity and address proof of directors

Digital Signature

The following can be shown as proof of the address of a director:

Passport

Voter Identity Card

Aadhaar Card

Ration card

Telephone or Electricity Bill

Driving license

Bank Account Statement

You can use a PAN card or an Aadhaar card as identity proof. All directors can show their voter ID, passport, phone bill, electricity bill, and telephone bill as proof of address.