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We will help with your organization's taxes.
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OUR SERVICE
GST Consultant
A. GST Registrations
- Assessing the customer's status and deciding whether or not the client is required to seek GST registration under the applicable sections of the GST Laws.
- Determining the client's composition scheme eligibility and advising him on whether to register under the composition scheme or the regular scheme. In line with GST rules, choosing composition levy, withdrawing, and reporting the notification of stock data on the GST portal.
- According to the GST legislation, the customer is registered as a regular taxpayer, composition scheme taxpayer, casual taxable person, non-resident taxable person, input service distributor, tax deductor at source, tax collector at source, and so on.
- Obtaining a Temporary User ID for users who have not yet registered under the GST regulations.
- People who are registered as casual taxable persons or non-resident taxable persons can apply for an extension of their registration period.
- Filling out registration applications for each of the client's locations in several states.
- Assisting customers with the submission of essential papers for getting a GST registration certificate.
- The items or services that the customer is selling or providing are identified.
- Identifying the appropriate HSN and SAC codes in accordance with the requirements.
- Responding to any discrepancies that may arise during the procedure.
- Obtaining the GSTIN of the client and setting up login credentials.
- Changing the information on the registration certificate in line with the GST regulations' applicable rules.
- Assisting clients with resetting their Authorized Signatory's email address and mobile number.
- Requesting cancellation of registration in accordance with the client's wishes.
- In the event of cancellation of registration, assisting the customer in filing for and visiting the GST Department for reversal of cancellation of registration in accordance with applicable GST rules.
- Filing appeals to get the revoked registrations restored.
- Assisting customers in meeting all of the requirements set out in the regulations pertaining to GST registration.
B. GST Return Filing
- We assist clients in filing GST returns as well as all other periodic filings under various tax schemes. We also gather necessary data, evaluate annual returns, validate reconciliation statements, and keep customers up to date on GST revisions as part of our services.
- Collecting, evaluating, and integrating important data from clients.
- Preparing and filing all periodic returns for taxpayers who are registered under the normal scheme, composition scheme, or as input service distributors (‘ISD'), casual taxable person, non-resident taxable person, input service distributor, tax deductor at source, tax collector at source, and so on, in accordance with GST laws.
- Preparation and filing of periodic returns. For this purpose, we do following:
- Consolidation of all periodic returns filed by the customer on the GST Portal.
- Outward supplies made during the year are reconciled as taxable, non-taxable/zero-rated supply/exempted supplies, and transactions not subject to GST.
- Expenses and revenue are reconciled with the financials.
- Examine the availability of Input Tax Credit ('ITC'), including proportional credits taken and ineligible credits, as well as the accuracy of input tax credits claimed in GST filings.
- Examine if the firm has accurately identified the transactions for which a reverse charge mechanism ('RCM') payment is due and whether the responsibility has been discharged appropriately and on time.
- Assistance with the production or evaluation of the GSTR 2A reconciliation, which is auto-populated with data from suppliers and purchase data recorded by the receiver of supplies. Taking appropriate steps in accordance with Rule 36(4) of the CGST Rules for the receipt and usage of input tax credits.
- Annual Return in Form GSTR-9 or other applicable form, depending on the taxpayer's status.
- Review of Annual Return in Form GSTR-9. For this purpose, we do following:-
- From a GST standpoint, review the company's audited yearly accounts, including the supporting notes to accounts (i.e. vouching of external and inward invoices) for the relevant period.
- Review of the reconciliation statement required by section 44(2) of the CGST Act 2017, i.e. a statement reconciling the value of supplies reported in the relevant period's returns with the audited Annual Financial Statements.
- Certify the aforementioned Reconciliation Statement on Form GSTR-9C, and submit any flaws discovered during the audit, electronically using the shared site.
- Updating customers about GST law modifications so that they may comply with the updated laws' requirements on time and avoid any penalties or other penalties for non-compliance.
C. GST Compliance
- Examining the client's accounting data and ensuring that GST compliance is met in accordance with the tax regulations.
- Assisting clients in classifying transactions using the appropriate HSN/ SAC code for products and services.
- Assessing the impact of GST laws on the client's various company processes. To put it another way, advising clients on the application of GST to various transactions that have been or will be performed.
- Applying laws relating to the place of supply in client transactions and identifying the right kind of tax (CGST, SGST, or IGST) to be paid based on whether the supply is inter-state or intra-state.
- Identifying the time of supply in order to determine the tax period during which tax dues must be paid.
- Preparation of tax invoices, bills of supply, credit notes, debit notes, and other documents including all necessary information required by the GST Rules.
- Review of all invoices and other documents prepared by the customer.
- Identification of invoices that are eligible for input tax credit under the applicable provisions.
- Notification of the need to pay taxes based on the clients' production responsibility.
- Monthly reconciliations are required.
- Identifying the inputs, input services, and capital goods for which taxes have been paid and credit is available, as well as the reversals of input tax credit claimed under GST regulations.
- Identifying the reverse charge mechanism's applicability.
- Clients receive regular updates on notices or circulars published under GST regulations in order to ensure GST compliance.
- Discussing with the customer the collecting of necessary papers to be provided in support of a refund claim.
- Preparation and submission of an online application, as well as the submission of any supporting papers that will be used to claim a refund.
- Following up with the department to ensure that reimbursement claims are completed.
- Analyzing the need for cross-billing of costs or common centralised services across the client's various registrations under the same permanent account number.
- On-demand tax advice on a variety of GST-related questions and concerns.
- Conducting Anti-profiteering study
- Examining the books of accounts and relevant notifications made under GST legislation to determine if the anti-profiteering provisions apply to the customer.
- Assisting with any ongoing investigation or inquiry.
- E-Way Bills for the movement of goods are prepared and filed.