Steps
Just fill the form and our CA's will contact you regarding the GST Advisory Services.
Filling out the form is quick and easy and will provide you with numerous benefits
in the long run. By
this, you will be able to get consultation from our Auditorwala CA/CS and will be
able to get
Guidance. So, why wait? Take the first step towards a bright future for
your business and fill out the form today.
- GST removes the cascading effect of tax
- Higher threshold for registration
- Composition scheme for small businesses
- Number of compliance is less
- Defined treatment for E-commerce operators
- Improved efficiency
- Unorganized sectors is regulated under GST
Section 22 to Section 30 of the CGST Act, 2017 deals with the process of registration by the every supplier of goods and services. Note on registration under GST with effect from 1st April 2019.
- Every person who is engaged in supply of services and whose aggregate turnover exceeds Rs. 20 lakhs in case of the States of Manipur, Mizoram, Nagaland and Tripura and whose aggregate turnover exceeds Rs. 40 lakhs for rest of the States, shall be liable to be registered under this act in the state or union territory, from where he makes of taxable supply of goods or services or both;
- Every person who is engaged in supply of goods and whose aggregate turnover in a fiscal year exceeds Rs. 40 lakh in case of the States of Arunachal Pradesh, Manipur, Meghalaya, Mizoram, Nagaland, Puducherry, Sikkim, Telangana, Tripura, Uttarakhand and whose aggregate turnover exceeds Rs.40 lakhs (for rest of the States), shall be liable to be registered under this act in the state or union territory, from where he makes of taxable supply of goods or services or both;
- Companies engaged in export of services are also required to complete the GST migration process and obtain a GST Registration number to be entitled to tax exemption on the export of services outside India.
- In case of inter-state sales, GST Registration is mandatory irrespective of turnover.
Evaluating The Fiscal Impact Of GST On Business And Product Pricing, Through
Evaluation Of Key Parameters Include:
Advise On Realigning The Operations To Ensure Tax Efficiency:
Advise On Implications Under The Anti-Profiteering Provisions Under The GST Laws:
Ensuring Steps For Smooth GST Transition:
IT Functional Advisory
Customised GST Trainings
- Change in tax rates
- Change in time and place of supply rules for goods or services or both
- Evaluating impact on outward supplies including goods and services
- Valuation mechanism under GST, including incidence on free of costs supplies, stock transfers, discounts, incidental supplies and supplies to related parties
- Analysing position on availability of input tax credits – credit restrictions or additional tax credits on procurements of goods and services; and,
- Basis the above parameters, assessing the Impact of GST on Company’s operations, select products and working capital.
Advise On Realigning The Operations To Ensure Tax Efficiency:
- Identify potential risks and suggest suitable mitigating strategies, associated with the identified models and,
- Define the business model / contractual scenarios after discussions with the management that could be taken up for implementation.
Advise On Implications Under The Anti-Profiteering Provisions Under The GST Laws:
- Ascertaining the impact of GST on the prices of products and services in view of additional tax costs / credits
- Advising on the appropriate pricing mechanism to be adopted considering the additional savings / burden and the legal provisions
- Advising the appropriate safeguards to be adopted and,
- epresenting before the Regulatory authorities constituted for Anti-profiteering.
Ensuring Steps For Smooth GST Transition:
- Implementation of changes in business processes such as establishing processes for billings, devising a system for receiving advances / payments
- Guidance on eligibility of specific credits that could be available under GST regime
- Evaluating and updating the eligibility and transferability of existing Input tax credits
- Assistance in preparation and uploading of statutory Forms for Transition of credits
- Guidance in relation to the manner of recovering tax from customers
IT Functional Advisory
- Studying the existing IT System, basis blueprints and flowcharts shared with us, to provide the tax triggers and mapping for each of the business transactions
- Evolve logics basis the changes introduced in law including those for transition of credits
- Configuring tax rates and updating master file basis the scheduled rates
- Advise on the reports to be generated from the system for GST purposes
Customised GST Trainings
- Customised internal trainings for organisational requirements for Finance, Taxation, Legal, Commercial, Sales and Marketing departments; and,
- Trainings for vendors, suppliers and customers.
GST (Goods and Services Tax) advisory services are important as they help businesses
comply with GST regulations, minimize tax liabilities, avoid penalties and fines,
and stay up-to-date with any changes or updates to the GST laws. They provide expert
guidance and support on various GST-related matters, including registration, filing
of returns, audit and assessment support, and dispute resolution.
Businesses need GST advisory services to ensure compliance with GST laws and
regulations, minimize tax liabilities, avoid penalties and fines, and stay
up-to-date with any changes or updates to the GST laws.
