GST Advisory
Goods & Service Tax (GST) is the largest indirect tax reform in India since independence. GST is a pan-India single unified tax on both Goods and Services, levied only on ‘value added’ to goods and services at each stage in the economic supply chain. GST is not just a change in tax, it is expected to have a far-reaching impact on each facet of business operations in the country such as pricing of products and services, supply chain optimization, IT, accounting and tax compliance systems. It 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.
GST Impact Analysis and Treatment
Develop specific “concept level” impact areas, based on the information available in public domain and comparative GST structures in similar jurisdictions. Sift impact areas into areas of opportunity and threats. Help with representation to GST policymakers to minimize impact areas. Identify the manner in which opportunities could be improved. Develop specific “concept level” impact areas, based on the information available in public domain and comparative GST structures in similar jurisdictions. Sift impact areas into areas of opportunity and threats. Help with representation to GST policymakers to minimize impact areas. Identify the manner in which opportunities could be improved.
GST Outsourcing
You must outsource your accounting and compliance because GST is something very hard to handle. The law is so much complex that even a small mistake may result into fines and penalties. Further, every person under GST is liable to upload each and every invoice issued and need to file three monthly returns. Further, each return shall be verified and hence makes the job even more hard. Hence, if you get involve in the compliance each month, then you will not be able to manage your business properly. Hence, we have got a solution for you.
Representation Services
All tax laws are bound to have uncertainties and possibility of multiple interpretations. Even GST would not be free from such interpretations. These differences may ultimately result into disagreement between taxpayer and department leading to rising of legal proceedings. Handling such differences requires proficiency in domain and experience in dealing with authorities at various levels. We have been able to establish our credibility in handling litigation through ethical practice. Our experience in handling litigations in laws such as Central Excise, Service tax, Customs and VAT would help in practice in GST as well.
Refund Advisory
It is stated policy of the government that only goods and services should be exported out of India not the tax associated with them. This is achieved either by allowing purchase of inputs net of taxes or by granting refund of taxes embedded in the publication of final product/services. There are multiple modes of claiming refund. The decision to choose particular option depends on multiple factors. We have in-depth knowledge of interconnections among various indirect tax laws, understand the intricacies in different refund options, undertake cost-benefit analysis and suggest best workable options in your peculiar case.
The enterprise was founded by Chartered Accountant Mr. Jothilingam S.
