GST Compliances

GST Compliances price starting at INR 999/- only.

Rs. 999 /- only
About Compliances Services GST Compliances Tax Invoices GST Return Compliance Important Points

What is GST Compliances?

The implementation of GST has simplified the intricacies of indirect tax policy. Now required to have several registrations are corporations that previously had separate consolidated registrations under the service tax. Despite being a single tax, the GST requires registration in any country where a firm has a permanent establishment in some capacity. India has a territorial system of government, which permits a part of each State's tax in the case of the GST.

Services

Services we provide under the GST regime  

Impact evaluation

Our team of experts will learn about your company and perform an impact analysis including all the key elements, such as the need for working capital, logistical concerns, the choice between hiring outside labour and doing it in-house, procurement, and maximum retail price. 

Transition assistance

There would be a seamless transition to the GST regime for current registered firms under various indirect tax regulations. Assessment of the status and positions of taxation responsibility under current legislation will be necessary during the transition process. We will determine the transition strategy to the GST and how it will probably affect the final balance of tax liabilities and advantages. 

Regular compliances

Our next responsibility will be to assist you with regular GST compliances, including but not limited to new registrations, amendments to existing registrations, calculation of periodic tax liability, preparation and filing of tax returns, tax assessment, etc., once GST is made applicable and the transition process is complete.

Compliance with GST

Compliance with GST Registration

  • The first step towards compliance is the registration of GST. The registration process can be completed online at www.gst.gov.in.
  • Although the procedure is rather simple, there are a few considerations to make in order to remain compliant. Based on a company's annual revenue, GST registration is required.
  • Relevant to companies who engage with the supply of commodities and have annual sales of more than Rs. 40 lakhs.
  • applicable to companies that engage with the provision of services and have annual sales of more than Rs. 20 lakhs.
Important Points

What are the important points of GST Compliance ?

Paying Tax Invoices

  • To transfer the input tax credit, businesses with GST registrations must follow the invoicing compliance requirements. Businesses are obligated to create a proforma invoice for every sale of products or services as part of their standard operating procedures. These invoices must comply with compliance requirements by having the following elements.

Paying Tax Invoices Points

  • Date and invoice number.
  • Customer name.
  • Shipping and billing address.
  • Customer and taxpayer’s GSTIN.
  • Place of supply.
  • HSN code (Harmonized System of Nomenclature/ SAC Code (Services Accounting Code).

Paying Tax Invoices Points

  • Item details i.e. description, quantity, unit, the total value.
  • Taxable value and discounts.
  • Rate and amount of taxes.
  • Whether GST is payable on a reverse charge basis.
  • Signature of the supplier.
GST Return Compliance

Every registered business must submit returns on a monthly, quarterly, and annual basis. The sort of business activity has the biggest impact on how often returns are made. The GST website's Returns area is where the GST returns must be submitted online. The forms needed to file GST Returns are listed below

  • GSTR-1 is a return used to report sales information to the government. After filing this return, no tax is due. 
  • The GSTR-3B is a streamlined return used to list all of the GST liabilities for a given tax period. It must be self-declared each month in order to provide an overview of all outgoing supplies made, claimed input tax credits, determined tax liabilities, and paid taxes. All taxpayers who have registered for GST must submit it. 
  • The GSTR-9 return, which includes information on supplies received under various tax headings during the prior year's inbound purchases as well as details of taxes due and paid, is submitted annually by taxpayers subject to the GST who had a turnover of over Rs. 2 Crores in the prior fiscal year. It is a compilation of all the GSTR-1, GSTR-2A, and GSTR-3B returns that were submitted on a monthly or quarterly basis during that year. 
Important Points

Important Points of GST Compliances

Services and Commodities Are Needed Capacity to enforce tax laws

Many returns are guaranteed with annual state registration. Each month, three files are required for each application. It is frequently necessary to consider the cross-matching of credits and the corresponding adjustment of returns each month. The level of skill required for this type of enforcement is much higher than that required by the previous rule, especially for organisations with a presence in multiple jurisdictions.

Services for GST Compliance

Taxxa has developed expertise to manage the entire life cycle of indirect tax compliance. Data collection from either the ERP framework, data monitoring from the GST perspective, confirmation of the proper areas, explanation of the cause of discrepancy, submission of returns, and ultimately approval of an upgrade to the ERP framework come first. In the case of businesses focused on exports, this department also handles daily GST refund applications and appeals follow-ups. The client frequently receives daily Tax-related consultations from the organization's GST enforcement department. In addition, the Taxxa team efficiently manages the knowledge transfer process to give corporations peace of mind regarding ongoing GST compliance.

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