Compliance, Filing and Consultation Services under GST Laws

It is a destination-based tax on consumption of goods and services, applicable from July 01, 2017 in which the number of indirect taxes was subsumed into one tax. Centre will levy and administer CGST through the “CGST Act 2017” & IGST through the “IGST Act 2017” and their respective rules framed thereunder, while respective states /UTs will levy and administer SGST/ UTGST though respective, UTGST or State Acts and their respective rules framed thereunder. GST Laws requires strong controls on Compliances to avoid additional cost.

The GST Law prescribes for various compliances like

  1. Maintaining Records and Books of Accounts,
  2. Invoicing and E-Way Bill requirements,
  3. Reporting of all outward supplies i.e. Sales Invoices, Credit Notes/Debit Notes,
  4. Classification of Goods and Services, GST Rates, HSN/SAC Code
  5. Valuation of Goods and Services
  6. Compliance towards Reverse Charge Mechanism,
  7. Input Credits availment and reconciliation of GSTR -2A
  8. GST TDS/TCS, norms,
  9. Timely Filing GST Returns. The requirement of filing GST Returns may be monthly, quarterly or annually, depending on the nature of the dealer and type of return that is required to be filed.
  10. Compliance towards regular updates in GST in the form of Amendments, Notifications, Circulars, judicial pronouncements, etc.
  11. GST Audit

The Compliances under GST Laws are very important and non-compliances will affect the business entities badly not only by additional business cost though Interest, Late Fees and Penalties but also by way of Blockage of E-Way Bill, Suo-Moto Cancellation of GST Registration Number and so on.

Further compliance under GST has become more important due to Section 149 of the CGST/SGST Act, according to it every registered person shall be assigned a compliance rating based on the record of compliance in respect of specified parameters. Such ratings shall also be placed in the public domain. A prospective client will be able to see the compliance ratings of suppliers and take a decision as to whether to deal with a particular supplier or not. This will create healthy competition amongst taxable persons.

Therefore, business entities require sound and careful GST Management System to avoid penalties and fines.

Our firm with Young and Dynamic Team with experienced professionals and GST Practitioners is well equipped in GST Compliance and Consultancy Services. Our Team will provide the following Services namely

  1. Registration and filing for Amendments in GST Registration
  2. Compliance, Consultancy and representational Services
  3. Periodic review of GST Compliances through specific Audits
  4. Filing of GST returns and related compliances
  5. Filing of GST refunds with the Goods and related representation before GST Department
  6. Assistance in GST audits conducted by GST Department
  7. Conducting of GST audits
  8. Advice related to Input Credit, E Way Bill, TDS/TCS, etc.
  9. Representation before various Tax Authorities in assessments, appeals and against show-cause notices, etc.
  10. Applying for Revocation of Cancellation of GST Registration
  11. Voluntary Surrendering of GST Registration and related compliances
  12. Applying for Letter of Under Taking or LUT
  13. GSTR 2A Reconciliation Services