CHARTERED ACCOUNTANTS
Indirect Tax
The Goods and Services Tax (GST) is a comprehensive tax system that has simplified the indirect tax structure but also introduced complexities that require expert navigation. We play a crucial role in helping businesses comply with GST regulations, optimize their tax positions, and
manage their tax affairs efficiently.
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Key Areas we assist in:
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GST Registration:
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​Advisory: We provide advice on whether a business needs to register under GST, considering turnover thresholds and the nature of goods or services supplied.
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Application: We assist in the preparation and submission of GST registration applications, ensuring accurate documentation and timely processing.
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GST Compliance:
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​Filing Returns: Help businesses file their GST returns accurately and on time. This includes monthly, quarterly, and annual returns as required.
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Record Keeping: Assist in maintaining proper records and documentation to support GST filings and compliance, ensuring that all transactions are accurately reported.
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Reconciliation: Reconciliation of GST returns with financial statements and other records to ensure consistency and accuracy, minimizing the risk of discrepancies and penalties.
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Input Tax Credit (ITC) Management:
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​Optimization: CAs help businesses optimize their ITC claims by ensuring that all eligible credits are availed and properly documented.
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Verification: They verify that the conditions for claiming ITC are met, such as the possession of valid tax invoices and the actual receipt of goods or services.
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GST Audits and Assessments:
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​Preparation: Assist in preparing for GST audits and assessments by tax authorities, ensuring that all necessary records and documents are in order.
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Representation: We represent clients before tax authorities during audits and assessments, addressing queries and resolving issues to minimize liabilities.
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Advisory Services:
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​Tax Planning: We provide strategic tax planning advice to help businesses minimize their GST liabilities and manage cash flow effectively.
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Transaction Structuring: We advise on the GST implications of various business transactions and help structure deals in a tax-efficient manner.
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Compliance Updates: Clients informed about changes in GST laws and regulations, ensuring ongoing compliance and helping them adapt to new requirements.
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Dispute Resolution:
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​Litigation Support: In case of disputes or litigation, we provide support and representation before GST appellate authorities and tribunals.
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Settlement: We assist in negotiating settlements and resolving disputes with tax authorities, aiming for favorable outcomes for their clients.
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