GOODS & SERVICE TAX CONSULTANTS

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GOODS & SERVICES TAX (GST) CONSULTANTS

The GST journey in India began in the year 2017, and since then, it has come a long way in shaping our economy. All matters like registration, form filing, application for refund, etc. are taken care of by our skilled and efficient Chartered Accountants. It is our sole purpose and duty to take part in and to give way to a robust and open discussion surrounding accountable GST, increased transparency and the ensuring of taxation in an increasingly digitized and globalized world.

GST Registration

GST Registration for new Assessee

Regular Routine Work

Filing of monthly, quarterly and Annual GST returns
Assistance in deposit of GST to electronic cash ledger
Consultancy on GST on regular basis
Refund of GST from GST Department
Bond and Letter of Undertaking (LUT) related work for Exporters
Assisting in Internal Audit by GST Department
Assisting and Representation in Show Cause Notice issued by Superintendent, GST Audit Department
Search Cases under GST
Contract review from GST perspective
Representation before relevant authority for GST appeal i.e. Commissioner, CESTAT

FREQUENTLY ASKED QUESTIONS (FAQ'S)

Does aggregate turnover include value of inward supplies received on which RCM is payable?

Ans- No, as per the provisions of Section 2(6) of CGST Act, Aggregate Turnover shall not include value of inward supplies on which tax is payable on reverse charge basis. Thus, such amount shall not be included while calculating the aggregate turnover of the person receiving such supplies under this Act.

Whether aggregate turnover includes turnover of supplies on which tax is payable by the recipient under reverse charge?

Ans- Yes, Outward supplies on which tax is paid on reverse charge basis by the recipient will be included in the aggregate turnover of the person providing such goods or services.

Is an advocate providing interstate supply chargeable under Reverse Charge, liable for registration?

Ans- Exemption from registration has been provided to such suppliers who are making only those supplies on which recipient is liable to discharge GST under RCM. Since, the legal services provided by advocate are liable to be charged under RCM, an advocate will be exempt from registration if he does not provide any other supply which is chargeable to GST under Forward Charge Mechanism.

Is it correct that person dealing exclusively in NIL rated or exempt goods/ services liable to register if turnover > 40/20/10 Lakh?

Ans- There is no liability of registration if the person is dealing with 100% exempt supplies. Hence, the turnover limit of 40/20/10 lakh shall not be applicable on the person.

A firm dealing exclusively in exempted products has GST registration; does it need to file return?

Ans- A person dealing wholly in exempted supplies is exempt from obtaining GST registration irrespective of the specified limits for aggregate turnover. However, if registered, then you need to comply with the provisions and thus file the due returns even if it is a NIL return. Further, in such circumstance, you may choose to cancel your registration since you are dealing only in exempted products.

If I register voluntarily though turnover is less than the specified limit, am I required to pay tax from 1st supply I make post registration?

Ans- Once a person obtains GST Registration whether mandatorily or voluntarily he is required to comply with all the related provisions and return filing. Therefore, you would be treated as a normal taxable person and be liable to pay tax on each supply made on or after the effective date of registration.

Is separate registration required for trading and manufacturing by same entity in one state?

Ans- GST Registration is primarily state based. Hence, a person can obtain one registration for each and every place of business in the same state. The place of Business shall include both Manufacturing and Trading Units of the person. However, it is the decision of the person to obtain a single registration or multiple registrations for its different place of business within same state. Hence, the person can obtain either common or separate registration for its Trading and Manufacturing Unit in the same state.

Can I register as a normal taxable person now and avail composition scheme later?

Ans-You can opt for composition scheme later. However, such conversion is not allowed in the middle of a financial year. Thus, the application shall be filed in the beginning of the financial year or before the beginning of the financial year.

If I register under the composition scheme, can I opt out of it later? What happens to my stock if I do so?

Ans-Those opting for and complying with composition scheme can exit and opt for normal tax scheme anytime. They would be eligible for ITC on stocks available on the date of switchover in compliance with the provisions of section 18(1)(c ) of CGST Act, 2017.

Suppose I am in composition scheme in GST. If I purchase goods from unregistered person, then GST will be paid to Government by me or not?

Ans-Yes, you will be liable to pay tax on reverse charge basis for supplies from unregistered person. Further, the rate of GST shall be the normal rate and not the reduced rate allowed to the supplier under composition scheme.