Goods and Services Tax

Amidst economic crisis across the globe, India has feigned a signal of strength with aggressive growth targets, supported by a bunch of strategic moves like Digital India and Make in India initiatives. Bringing the Goods and Services Tax (GST) into picture is another such move that is expected to give the much-needed momentum for economic growth in India by transforming the existing indirect taxation towards the seamless flow of goods and services tax. GST is introduced to eliminate the cascading effect of taxes. India can play an essential role in the world economy in the years to come. The expectation with GST reforms is very high not only within the country but also within neighbouring countries and developed economies of the world. GST is a consolidation of a myriad of different indirect taxes levied by the Centre and state government into a universal tax. The GST has eradicated the complexities involved with charging various taxes. GST came into existence from 1st July 2017 with the objective of “One Nation One Tax” which needs businesses to file monthly quarterly and annual returns. The registered persons with a yearly turnover of more than two crores are also required to file an audit report.

What is GST?

Destination based consumption tax, i.e., tax on inter-state supply to accrue to destination state.

Dual GST model – CGST to be central tax and SGST to be state tax.

IGST on inter-state transaction, to be shared between centre and states.

Single taxable event, i.e., supply.

Four tier tax rate and creditable compensation cess.

Matching concept introduced for admissibility of credit.

1. GST compliance

Every registered person needs to file many returns and forms within specified time frame failing of which results in payment of interest and penalties under respective provision of CGST Act, 2017. We have a dedicated GST Team to handle all compliances within due dates.

Our Services

GST registration.

Filing of monthly GST returns.

Filing of final return and annual returns.

Filing of letters of undertaking.

Filing of all other Forms and declarations as required under GST law on GST common portal.

2. GST Audit

Every registered person who is required to get his accounts audited under sub-section (5) of section 35 shall furnish the annual return along with a copy of the audited annual accounts and a reconciliation statement certified by a chartered accountant in Form GSTR-9 C.
During the early stages of the introduction of GST a lot of errors might have occurred at the time of filing of GST returns that should be resolved before the filing of an annual return and reconciliation statement in Form GSTR-9 C.
We have a dedicated GST Team who understands various practical challenges, identify common errors and possible resolutions thereof before filing of the annual return and reconciliation statement in Form GSTR-9 C.

Our Services

Filing and preparation of annual return.

Preparation of reconciliation statement between books of accounts and annual return in accordance with the GST Law.

Auditing the books of accounts in accordance with the law.

Certification of reconciliation statement in accordance with the law.

Filing of reconciliation statement in Form-GSTR-9C on GST common portal.

Possible resolutions for errors.

3. GST Representation & Litigation

As per section 116(1) of the GST Act, 2017, any person who is entitled or required to appear before a GST officer appointed under the Act, or the Appellate Authority or the Appellate Tribunal in connection with any proceedings under the Act, may, otherwise than when required under this Act to appear personally for examination on oath or affirmation, subject to the other provisions can appear by an authorized representative.
As per section 116(2) of the GST Act, 2017, the following persons can be appointed as an authorized representative i.e., someone authorized by the person to appear on the person’s behalf:

A relative or regular employee; or

An advocate who is entitled to practice in any court in India, and who has not been debarred from practicing before any court in India; or

Any chartered accountant, a cost accountant or a company secretary, who holds a valid certificate of practice and who has not been debarred from practice; or

A retired officer of the Commercial Tax Department of any state government or union territory or of the board who, during his service under the government, had worked in a post not below the rank than that of a Group-B gazette officer for a period of not less than two years: However, such officer shall not be entitled to appear before any proceedings under this Act for a period of one year from the date of his retirement or resignation; or

Any person who has been authorized to act as a goods and services tax practitioner on behalf of the concerned registered person.

Our Services

Representation before GST authority with respect to assessment, search and seizure, summons and other notices.

Representation before Appellate Authority with respect to appeal against order of GST officer.

Representation before Appellate Authority with respect to revision request against order of GST officer.

4. Refund GST Advisory & Opinions

In order to encourage foreign trade, exports from the Indian government at both center and state-level have provided refund of GST paid on export of goods and services under the GST regime. We undertake cost benefit analysis, consider all other intricacies and suggest a better refund route.
The process of a refund claim includes the following procedure:

Filing of online refund application.

Suggest system for generation of necessary documentation to prepare refund claim.

Improve existing system for generation of necessary documentation.

Assistance in gathering of all supporting documents.

Preparation of necessary pre-documentation like annexure-A as required by law.

Reconciliation between ITC claimed and ITC reflecting in GSTR-2A which involves identification of missed credit.

Continuous follow up with the authorities to grant refund claim.