India Expert is an Association of consultants that offers comprehensive end-to-end solutions to all issues relating to the Goods and Services Tax (GST). It also serves as a GST information resource.
India Expert has a team of indirect tax professionals and associates all over the country. Our expert team has years of experience offering consulting services for a wide range of multi-locational companies with interests in industries such as automobiles, FMCG, electrical appliances, logistics, information technology, and many others.
Indirect taxation is a topic on which India expert aims to provide customized advisory and business-oriented solutions that are as follows:
1. Advisory Services for GST:
Our team of dedicated indirect tax professional experts will assist you in effectively dealing with existing and future goods and service tax issues (GST). We support our clients by educating them on the GST implications of different transactions and materials, as well as assisting them in resolving classification or other conflicts with the authorities.
Throughout the tax life cycle, we assist in defining risk areas and long-term planning opportunities for indirect taxes. We propose workable solutions that have a company-based approach and the ability to solve complex issues and provide business and technical strategy and implementation. We assist our clients in improving the performance and effectiveness of their businesses by investigating all indirect tax aspects of core management and business processes for their future growth. GST services that are illustrative examples of advisory services are as follows:
- GST advisory services in relation to the company's GST issues
- Hand-holding through GST advisory on a continuous basis
- Tax and Credit Optimization
- Consulting including limited activity assessments, indicating the likelihood of substantial savings by credit availability to small and medium businesses, proper tax payments and use of admissible exemptions
- Analysis of the impact of GST on specific customers/industries and optimum customer solution to the related issue
- Cost management and tax preparation
- Identification of areas where ITCs can be maximized
- Examining contract arrangements in terms of GST optimization
- Transaction Restructuring, Process Designing, and Classification Concerns Advisory GST information is updated on a regular basis.
2. Support for litigation
Our expert and dedicated team will be able to provide organizations with all kinds of litigation support for goods & services tax and other formerly indirect taxation statutory provisions, such as Excise and Service Tax. The following are included:
- Show Cause Notice Response
Our team of experts will assist you in drafting reply and responding to show cause notifications. In the process of managing show cause notices, we are always looking for ways to add value to the customer. On behalf of the client, we are also attending personal hearings.
- Reply to objections of departmental audit
Our legal team of expert is well equipped to deal diligently with audit objections raised by the revenue officials and has proven success in handling the case only at the moment. The risk of litigation could be minimized through our knowledge of indirect taxation and the knowledge of possible litigation areas.
- Appeal and representation until the Tribunal are filed.
The matter has escalated beyond the notice phase and needs to be appealed to almost all judicial or judicial authorities. They may be the commissioner (appeals), the tribunal or the revision authority. Our legal team knows and understands the situation, prepares and files appeals in accordance with the law and facts, and represents the case at hearings before authorities.
- Assisting in the filing of appeals and representing clients in front of the High Court and Supreme Court.
The firm has a team of capable experts who can support attorneys in filing appeals and representing cases before the Supreme Court and the High Court. We bridge the distance between the client and the lawyer. We also have connections with top attorneys who can represent you in higher courts.
- Advance Ruling Application.
Since the GST is a modern regulation, there are more opportunities for differing legal interpretations. Taking a ruling/decision from the Advance Ruling is one way to avoid future litigation. This will reduce the likelihood of potential legal action. We provide advice and assistance to our clients when it comes to submitting an advance ruling application. Our staff prepares and files applications, as well as represents clients before the Authority for Advance Ruling (AAR) and Appellate Authority for Advance Ruling (AAAR), among other things.
- Representation in front of the government.
We've been supporting businesses and trade associations in presenting their case to government officials in order to resolve a problem that affects all of their members.
- Managing Litigation under Former Indirect Taxation Laws
The GST included all previous indirect tax legislation (except Customs). However, this does not exclude the initiation of proceedings under old laws. Departments initiated in accordance with previous laws may conduct a litigation audit, investigate, search & investigate. We can also assist you in proceedings under former indirect taxation schemes.
3. GST Reimbursement Process
In the following cases, refunds can be claimed in the GST:
- Export of goods or services (including deemed export),
- Reimbursement of unused input tax credit,
- Reimbursement of production/generation/production – free tax supplies.
- Excess payment as a result of a mistake or inadvertence,
- Provisional Assessment completion,
- Refund for tax paid on transactions by UN bodies, CSD canteens, and paramilitary forces canteens, and so on.
- Refunds of pre-payments in the event of an appeal
- Refunds for area-based exemptions.
Our expert team of professionals continues to strive to provide our clients with hassle-free and timely refunds. The following services are included in the refund processing services:
- Analyzing the eligibility of the claimed refund.
- Assisting the client in meeting the documentation requirements.
- Filing Refunds on the GST Portal, including Utility Preparation.
- Liasioning with officers for refund processing.
4. GST Compliance Guidance
Our experience with indirect taxes will also help us understand the new GST law requirements. We offer compliance assistance to clients all over the world. Our tax compliance and reporting team of expert offers high-quality, flexible, and cost-effective tax compliance solutions. Our approach to compliance is adapted to the specific of our clients, with the goal of ensuring error-free compliance. With the participation of senior members of the firm, we can use our experience and skills to identify opportunities to improve tax processes and deliver tax savings. Among our services are the following:
- Services for Registration and De-Registration:
The decision to register should be made with the requirements of GST law in mind. Sometimes a decision is made after considering all of the exemptions and benefits associated with the registration. To ensure a smooth flow of business, caution must be exercised when applying for registration. For registration, factors such as the type of registration, the locations of business to be added and additional information to be provided must be considered. This necessitates the involvement of professionals. The services also include assistance with de-registration and surrender of unwarranted registration. We could assist you in obtaining the registration and, if necessary, resolving any associated issues.
- GST return filing:
Entities must file periodic returns after they have been licensed. Compliance with all periodic returns and payment processes would be key to GST automation. There is also a requirement to comply with reverse charge payments. Managing these multiple tasks can be technically challenging, time consuming and costly for a business. At the end of each tax period, tax must be paid to the government, which necessitates the identification of appropriate tax liability after adjusting eligible credits. Other multiple adjustments may be required due to non-monetary considerations, time of supply, related party implications, reverse charge liability, and so on. Following are the services under this could cover:
- GST returns must be reviewed to ensure proper disclosure.
- Review of the GST output liability computation.
- On a sampling basis, review the computation of GST input tax credit and credit eligibility. Credit reversals are being reviewed.
- GST computation under the reverse charge mechanism is being reviewed.
- Examine the interest computation as a result of late GST payment and non-payment to vendors.
- Examine whether or not the conditions for tax exemption or a reduced tax rate have been met.
- GST returns are filed on the client's behalf.
- GST returns must be reconciled with monthly ledgers according to the books of accounts.
- GSTR-2A reconciliation.
- Support for the design of effective accounting and support systems to make information required for return filing immediately available.
- Different returns such as ITC-04, GSTR-6, and GSTR-7 are prepared and filed.
5. Services for GST Review
- Review of GST compliance
In India, GST is still an emerging law. Ever since inception, the rates, but also various legislative provisions and procedures have changed frequently. By carrying out periodic compliance reviews on all GST-related functions, we provide assistance to ensure compliance. Sales, procurement, inventory, finance etc. could be included. Such a review will also be beneficial for the GST annual audit, which is required by GST provisions for assesses with a financial year turnover of more than Rs.2 crore. Periodic review could help to ensure compliance with the rules; take advantage of credit, update tax rate changes and. Overall, the following would apply:
- Review of GST external supplies, applied tax rates, exemptions requested compliance with related requirements and export advantages claimed etc.
- Review of the eligibility for GST input tax loans, inadequacies, completeness, loan documentation, transitional credits, etc.
- Review of procedural compliances, such as GST registrations obtained, tax payments, return filing, disclosure of ITC and outward supplies in returns, movement of goods for job work, credit carry forward, and so on.
- Examination of reverse charge enforcement by sampling expense ledgers, payments received, re-credits obtained after payment, eligibility of such credits, rate and abatements asserted, as well as supporting documents.
- Accounts and records must be reviewed and kept in accordance with GST law.
- GST review Prior to Departmental Audit:
To determine revenue leakage, a departmental audit is conducted. It's possible that the assessees will face legal action as a result of this. The cost of such unearthing is extremely high, especially given the higher rate of interest and the imposition of a penalty of up to 100%. We know the potential departmental focus areas and audit methodology based on our experience. Until department officers arrive at your office, we conduct a review and identify areas that need urgent attention in order to reduce or eliminate the possibility of potential litigation.
- GST Audit:
A registered taxable individual with a turnover of more than Rs.2 crore in a year must have his books of account audited by a chartered accountant or cost accountant, according to Section 35(5) of the CGST Act 2017 and Rule 80(3). Following are the aspects that would cover under GST Audit:
- Examine the outward supplies declared in the return to ensure that they include all outward supplies made.
- Examine the inward supplies declared in the return to ensure that they included all inward supplies made.
- Examine all claimed deductions, including sales returns, abatements, and exemptions.
- Review of the classification and rate of goods in accordance with GST provisions.
- Registrations obtained are evaluated.
- Input tax credits claimed on inputs, input services, and capital goods are being audited.
- The review of reconciliation statements must be filed with the GST audit report.
- Conducting audits in accordance with all other GST Act requirements.
Our team has experience conducting regular GST Reviews as well as prior experience conducting VAT audits, which can help your organization conduct the GST Annual Audit. At India Expert, we view audit as a value-added exercise rather than a simple attest function.
6. GST System Studies.
- Assistance with the Establishment of an Internal Control System for GST Compliances:
Indirect tax systems have an impact on almost every financial transaction in business. This necessitates the use of an appropriate control system to manage tax functions at the transaction level. Furthermore, businesses are now system-driven, with human intervention reduced to a bare minimum. The complex business structure, combined with system automation, necessitates the incorporation of a flawless tax system into all processes. Our team can help you establish internal controls and implement a system that meets all compliance requirements under indirect tax statutes.
- GST Standard Operating Procedures (SOP) development.
Businesses should not rely on individuals to carry out critical business processes, particularly indirect taxation, which affects all business transactions. This necessitates the development of robust SOP under indirect tax for the smooth operation of the business. SOPs are required in both medium and large-sized businesses. It has been observed that where such procedures have been followed, there has been a significant reduction in department actions. We can help you develop SOPs for all of your processes in terms of tax compliance and tax efficiency.
- Corporate Training
We the India Expert have a team of GST-certified trainers who can help you manage your organization's training needs.
The training program could be designed for senior management, middle management, or operational staff responsible for accounting, finance, marketing, or procurement. The goal of training program is to provide an understanding of legal and practical aspects of law in order to make effective decisions and to ensure that the entity's tax function is error-free. This ensures that the skills and knowledge required for effective compliance are instilled and maintained in staff. The training can be customized to the needs of the company.
We assist our clients in fulfilling all their required compliances in accordance with Goods and Services Tax (GST) Laws. Following are the Compliances, inter-alia includes:
- Reviewing accounting data and GST Compliances:
- Reviewing the client's accounting data and ensuring that GST compliance is met in accordance with the tax laws.
- Assisting clients in classifying transactions using the appropriate HSN/ SAC code for products and services.
- Assessing the potential impact of GST laws on the client's various business operations. To put it another way, advising clients on the application of GST to multiple transactions that have been or will be performed..
- Applying provisions related to the place of supply in client transactions and determining the correct type of tax (CGST & SGST or IGST) to be paid based on classification as inter-state or intra-state supply.
- Determining the time of supply in order to eventually determine the tax period in which tax dues must be paid.
- Preparation of tax invoices, bills of supply, credit notes, debit notes, and other documents containing all of the relevant details specified in the GST Rules.
- Review of all invoices and other documents prepared by the client.
- Identification of invoices eligible for an input tax credit under the applicable provisions.
- Intimation for payment of taxes based on the clients' output liability.
- Reconciliations are performed on a monthly basis.
- Identifying the inputs, input services, and capital goods for which taxes have been paid and credit is available, as well as the reversals of input tax credit claimed under GST laws.
- Identifying the reverse charge mechanism's applicability.
- Clients receive regular updates on notices or circulars received under GST laws in order to ensure GST compliance.
- Unused input tax credits (‘ITCs') are refunded:
- Discussing with the client the list of appropriate documents to be submitted for a refund application.
- Preparation and submission of an online application, as well as the submission of appropriate documents for which a refund is to be claimed.
- Following it up with the department to ensure that refund claims are finalized.
- Analyzing the need for cross-billing of expenses or common centralized services among the client's multiple registrations under the same permanent account number.
- On-call tax advice for a variety of GST-related questions and issues.
- Anti-profiteering research work has been carried out:
- Analyzing the client's books of accounts and relevant notifications issued under GST laws to determine the applicability of anti-profiteering provisions.
- Assisting with any ongoing inquiry or investigation.
- Creating and submitting E-Way Bills for the movement of goods.
Submission of a GST returns
- We assist our clients in filing GST returns as well as all other periodic returns under various tax schemes. We also collect relevant data, review annual returns, certify reconciliation statements, and keep clients up to date on GST amendments as part of our services.
- Our GST Registration services for clients begin with an assessment and determination of the status of the client's GST registration requirement. Our services include the GST registration process, which includes applying for a GST number, identifying the products and services being offered, and calculating the GST, filing an appeal for restoration, amending the information specified in the registration certificate in compliance with the applicable GST laws, and more.
Here are some points to learn more about our GST return filing services.
- Collecting, reviewing, and consolidating specific data from clients.
- Preparing and filing all periodic returns for taxpayers who are enrolled under the usual system, composition scheme, or as input service distributors (‘ISD'), casual taxable individual, non-resident taxable person, input service distributor, tax deducted at source, tax collector at source, and so on, in compliance with GST rules.
- Periodic return preparation and submission. We do the following step for this:
- Consolidation of all periodic returns filed by the respective client on the GST Portal.
- Outward supplies made during the year are reconciled as taxable, non-taxable/zero-rated supplies/exempted supplies, and transactions not subject to GST.
- Expenses and taxes are reconciled with the financials.
- Examine the availability of Input Tax Credit ('ITC'), including proportionate credits taken and ineligible credits, as well as the accuracy of input tax credits claimed in GST returns.
- Reviewing if the corporation has correctly defined the transactions on which a reverse charge process ('RCM') payment is due and whether the liability has been discharged correctly and on time.
- Assistance with both the preparation and analysis of the GSTR 2A reconciliation, which is auto-populated with data from suppliers and purchase data reported by the receiver of supplies. Taking appropriate measures in accordance with Rule 36(4) of the CGST Rules for the receipt and use of input tax credits. Annual Return in Form GSTR-9 or other relevant form, depending on the taxpayer's status.
- Reviewing the Annual Return in Form GSTR-9. To ensure this, we take the following steps:-
- From a GST standpoint, review the company's audited annual reports and the corresponding notes to accounts (i.e. vouching of outward and inward invoices) for the relevant period.
- Reviewing of the statement of reconciliation accordance to section 44(2) of the CGST Act 2017, i.e. the statement reconciling with the audited Annual Financial Statements the value of supplies reported in the returns furnished for the relevant period.
- Certify the above-mentioned GSTR-9C Reconciliation Statement, electronically through the common portal and report on the shortcomings identified during the audit.
- Updating our clients on GST law amendments so that they can comply with the requirements of the amended laws on time and avoid any penalties or other consequences of non-compliance.
- Assessing the client's status and determining whether or not the client is required to obtain GST registration under the relevant provisions of the GST Laws.
- Determining the client's eligibility for the composition scheme and advising him on whether to register under the composition scheme or the normal scheme In accordance with GST laws, opting for composition levy, withdrawing, and filing the intimation of stock details on the GST portal.
- According to the GST rules, the client is registered as a normal taxpayer, composition scheme taxpayer, casual taxable individual, non-resident taxable person, input service distributor, tax deducted at source, tax collector at source, and so on.
- Applying for a Temporary User ID for clients who have not yet registered under GST laws.
- Persons who are registered as casual taxable persons or non-resident taxable persons may apply for an extension of their registration period.
- Filling out registration applications for each of the client's locations in various states.
- Assisting clients with the submission of required documents for obtaining a GST registration certificate.
- Identify the goods or services sold or rendered by the customer.
- Identifying the appropriate HSN and SAC codes based on the requirements.
- Responding to any discrepancies that may arise during the process.
- Obtaining the GSTIN of the client and creating login credentials
- Altering the information on the registration certificate in accordance with the applicable GST laws.
- Assisting clients in resetting their Authorized Signatory's email address and mobile number.
- Requesting a cancellation of registration in accordance with the customer's specifications.\
- Filing appeals for the reconsideration of cancelled registrations.
- Assisting clients in meeting all of the requirements outlined in the provisions governing GST registration.
Our team of experts can provide all the assistance in GST registration and related inquiries in India for Indian residents and as well as foreign companies. Legal and various types of document works are involved in GST-related queries in India other than approvals from the Government of India. We can assist you in GST registering for your company or for individual in India along with getting vital documents and approvals from the government and related GST filling.
For any information/queries, you can contact us. Our team of experts can provide all the assistance in related to GST related Services:
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