GST advisory services are well defined on the overall tax performance of a business. It develops a tactical focus in areas such as stock transfers, an input tax credit, refunds, valuation, classification, export benefits and so on.
Filing GST under the supervision of a good advisor is the best gift you can give to your organisation / business. GST advisory can give you the benefits in the form of :
● Decreased compliance burden.
● Removal of cascading effect on taxes.
● Increase in demand for goods and provide of goods.
● Simplification of taxes.
● Decreased manufacturing cost.
● Increase in government revenue
GST is an exhaustive value built on indirect tax on goods and services, which has made India a unified market.
There are some key features of GST which has made some good changes in Indian market, Like:
1.Dual tax structure: There are centre and state tax imposed for every goods and Services provided and these are termed Centre GST (CGST) and State GST (SGST), respectively
2. IGST on inter-state supplies: desegregated GST (IGST) on inter-state supplies where the revenue is shared by both the Centre and the Consumption state.
3. Available between two stars of the same legal entity taxable: The availability of goods between the agent and the principal are taxable. The “gifts” given by employers to employees distinct INR 50,000 are taxable.
4. Imports and exports: All imports are managed as inter-state supplies and do attract IGST. All exports are zero rated.
5. Tax administration: An online system for tax. Nevertheless, there are GST backing, centres, GSPs, ASPs that help taxpayers in filing the returns, registrations, etc. At the same time GST removes the overflow effect of taxes and the economic barriers between the states, it will be beneficial for businesses and consumers. For example, if a product has a tax rate of 20%, this is inclusive of central and state government’s taxes. The seller can manufacture in one state and provide to other states with no taxes. Also, the consumers would be topic to only this indirect tax and no other taxes. GST helps the government in creating a common market with common procedures, thereby reducing corruption and GST is a comprehensive, value-added tax imposed on production, sale and consumption of goods and services. GST is a single merge system that is applied across the country.
We at AAA Techs provides the authentic way to prepare the GST:
● Advice on various GST associated matters.
● Tender / all bids backing.
● Preparing compliance tracker and computation of tax payments.
● Preparing representation before the GST council.
● GST Litigation services.
● Reconciliation of input tax credits.
● Accommodate in queries associated with e-way bills creation.
● Guidance in GST audits.
● Preparing and filing of refund claims.
● Providing end to end support
The Government has been very active in arranging its processes and adjusting to the demands of the industry. The various explanations or changes in law at the time of the introduction of GST were done to ensure that no business will get affected in the future. At Interslice, our professionals help the clients by as long as a varied range of GST Advisory services, including conducting GST diagnostic review, backing, in litigation, advising on various GST associated issues and representation before the GST council, etc. in addition, our GST Advisory specialist will help you to acquire GST refunds and tackle GST compliances and audits.