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Chartered Accountants

 
     
   
 

Goods and Service Tax (GST)

Introduced in 2017, GST is that the biggest reform by the Indian Government. With attention on strengthening the economic structure of the country, it has given the economy an incredible boost. to profit from this tax and to know it in reference to your organization, we a have team of GST return filing consultants. Compliance with the GST provisions may be a must-do task by you, as a registered taxpayer. Otherwise, you'll end up paying penalty and late fees. 5 major steps include:
1. List of all tax invoices and reconciliation thereof:
2. GST Audit:
a) Prepare to file two annual returns, if applicable
b) Adhere to the reporting requirements:
3. List of HSN for all the inward supplies
4. Segregation of ITC claimed
5. List of all amendment entries and reconciliation thereof:
Collating all the information required for filing GST annual returns in one place is a very time-consuming task. We as experts will be glad to ease the process for you:-
Our services in relation to the GST include the following:
  • GST implementation services in case of newly started organizations, review of the GST implementation in case of old organizations.
  • Undertaking due diligence reviews, both sell side and buy side.
  • GST advisory services on all matters including stock transfers, classification, valuation, input tax credits, registration requirements, ISD, refunds, export benefits, cross charges, job work, reverse charge mechanism etc. The advisory inter alia include services like supply chain cost optimization, review of contracts from GST perspective, recommendations on tax clauses, negotiations with vendors/ customers, drafting of indemnification clauses, advising on day to day GST issues, automation solutions in compliances, developing of SOPs for compliances.
  • Advice on execution of turnkey projects / EPC Contracts involving planning at the pre-bidding stage, structuring of contracts, identification of tax optimization opportunities, devising the foremost tax efficient models and comprehensive range of compliance services subsequent to the bidding stage, etc.
  • Conducting anti-profiteering studies and assistance in relation anti-profiteering certification, assistance in reference to ITC – 02 certifications for transfer of credit just in case of sale, merger, de-merger, amalgamation etc of entity.
  • End to end assistance in reference to GST enquiries and assessments, including representation before the Tax Authorities.
  • Preparation of application for obtaining of advance ruling and representation before the Authority for Advance Ruling/ Appellate Authority of Advance Ruling.
  • Drafting replies to show-cause notices and appeals, including representation before Adjudication and Appellate For.
  • Complete outsourcing of GST compliances on presence across India basis like obtaining registrations, periodic and annual compliances, preparing reconciliations, analysing eligibility of input tax credits etc.
  • Assistance in reference to yearly GST Audits and credit reconciliations.
  • Drafting, filing and processing of refund claims like refund of unutilized credits just in case of export of goods/ services, refunds in case of inverted duty structure, refund in case of export with payment of tax etc.
  • Conducting trainings for clients and fixing GST help desks at client locations.