GOODS AND SERVICE TAX


Introduction

Goods Sales Tax is the largest Tax reform in India. Our indirect tax professionals have wide-ranging experience and in-depth knowledge of the various indirect taxes such as GST.

Our service offerings include advising on tax implications on day –to-day operations as well as implications on specific business activities / transactions.

We have designed a comprehensive approach, which is aligned to the needs of our clients and we assist our clients in undertaking GST compliances under the following legislations in an efficient manner:

GST Compliance and Consultancy Services
  • A. Goods and Services Tax registration
  • i. Guidance in Obtaining GST registration
  • ii. Guidance in amendment of existing GST registration
  • iii. Guidance in obtaining Input Service Distributor (‘ISD’)/ Tax Deduction at Source (‘TDS’)/ Tax Collection at Source (‘TCS’) registration
  • B. Goods and Services Tax periodic compliance Services
  • i. Guidance in computation of monthly GST liability
  • ii Guidance in preparation and submission of monthly GST return
  • iii. Registration / Migration / cancellation under GST.
  • iv. Consultancy for maintenance of proper records as per GST
  • v. Consultancy for proper accounting for GST.
  • vi. Consultancy on various issues relating to GST.
  • vii. Filing of Various Returns under GST.
  • viii. Refund services under GST.
  • ix. LUT for Exporters
  • x. Providing workshops and training in GST.
  • xi. E –WAY Bill under GST
  • Xii. GST Tally services
  • xiii. Advising on operations / transactions of clients from an Indian tax perspective in terms of the various taxes applicable and tax benefits / exemptions / set offs available;
  • xiv. Due Diligence reviews;
  • xv. Advice on execution of Turnkey Projects / EPC Contracts involving planning at the Bidding stage, structuring of contracts, identification of tax optimization opportunities, devising the most tax efficient models and comprehensive range of compliance services subsequent to the bidding stage;
  • xvi. Providing on-call advisory services on specific Indirect Tax queries raised by the clients from time to time;
  • xvii. Drafting, filing and processing of Refund claims;
  • xviii. Assistance in indirect tax audits and assessments, including representation before the Indian Tax Authorities.

GST AUDIT –GSTR 9C

GSTR-9C is the GST reconciliation Statement for a particular FY to be filed by taxpayers on or before 31st December* after being certified by CAs. It must be filed along with the GSTR-9 (Annual Returns) and the Audited Financial Statements on the GST Portal

What is GSTR-9C?

GSTR-9C is a statement of reconciliation between:
The Annual returns in GSTR-9 filed for an FY, first being 2017-18 and
The figures as per Audited Annual Financial statements of the taxpayer. It is certified by the CA. It can be considered to be similar to that of a tax audit report furnished under the Income tax act. It will consist of gross and taxable turnover as per the Books reconciled with the respective figures as per the consolidation of all the GST returns for an FY. Hence, any differences arising from this reconciliation exercise will be reported here along with the reasons for the same.
The certified statement shall be issued for every GSTIN. Hence, for a PAN there can be several reports of GSTR-9C.

Who must prepare & submit GSTR-9C?

GSTR-9C must be prepared and certified by the Chartered Accountant or Cost Accountant. It must be filed on the GST portal or through facilitation center by the taxpayer along with other documents such as the copy of the Audited Accounts and Annual returns in GSTR-9.
This statement is applicable to all those taxpayers who must get their Annual Accounts audited under the GST laws. Audit applies to those registered persons whose Annual aggregate turnover exceeds Rs 2 crores in that FY, here being FY 2017-18.