Goods and Service Tax (GST) is the most important indirect tax reform in the country, which introduces a comprehensive indirect tax on manufacture, sale and consumption of goods and services throughout India to replace various taxes levied by the central and state governments. GST is levied and collected at each stage of sale or purchase of goods or services based on the input tax credit method. Changeover to GST will impact the tax structure, tax incidence, tax computation, tax payment, compliance, credit utilization and reporting, leading to a complete overhaul of the current indirect tax system followed by company. It is imperative for entities to study the far - reaching impact of GST on almost all the aspects of the business operations, i.e., pricing of products and services, supply chain optimization, IT, accounting, and tax compliance systems.
Our Solution
We assist our clients in deciphering GST impact and identifying risk areas and sustainable planning opportunities by providing following services :
(a) Assistance in customizing accounting platform to obtain the data required for periodical compliances under the GST regime.
(b) Providing advisory at the various level of client’s personnel on GST law so as to enable them to re - align and restructure their business processes and IT system.
(C) Advisory on the information / data required by the client for GST compliance.
(D) Other GST Miscellaneous Services :
- GST Registration
- Valuation and Classification of Items and related advisory
- GST Monthly or Quarterly Return filing Service
- GST Audit
- GST Annual Return Filing
- GST Refund advisory, Planning and Filing
- Guidance on eligibly for input tax credit and blocked credits
- Opinion and advisory on contentious issues
- Appearing before GST authorities for notice, appeals, scrutiny assessments, rectification and refund
- Preparation for audit by GST department