One of the most transformational reforms of recent decades knocked on our doors in the form of the Goods and Service Tax Act in 2017. Most of the various indirect tax laws prevalent across the country for decades got scrapped out. It left many business owners and managers in a state of uncertainty and confusion about what the future held for them.
It has been over three years now since the advent of the tax transformation, yet, many business concerns still find it challenging to grasp the different compliances under GST. Such a situation can create hurdles for hiring the best professional services for their indirect tax compliances.
Fret not; we are here to help you out apprehend some of the crucial aspects of the requirements as per the GST laws and which services can easily enable you to cater to them.
If you are liable for your business’s registration as per the GST Act, you need to make an application for registration immediately.
Businesses with a turnover exceeding 40 lakhs (10 lakhs for those located in special category states) in a financial year need to register under the act. Certain other forms of business ventures also need to register under the act compulsorily. It takes about six working days for the registration process to complete.
If you need dependable aid for handling your firm’s registration process, you can get in touch with the tax whizzes at Assessor. We also offer assistance for the registration of eligible businesses under the Composition Scheme.
You will receive a GSTIN and certificate after your application is approved.
You just need to bring the necessary documents for the registration process, and we shall get to the task. The documents for registration include:
- PAN card of the proprietor/partners/LLP/Company
- Aadhar card of owners/partners/directors
- Address Proof
- Bank Details
- Partnership deed for firms /Incorporation certificate, MOA &AOA for companies
GST Return Filing
Once you are done with your registration, you need to adhere to the GST filing regulations as per the act.
The GST return filing regime can remain a cause of stress for many registered business entities. That’s where experts in the form of Assessor come into the picture. We deploy return filing services for all types of monthly, quarterly, and annual GST returns for different forms of business enterprises.
We will assist you in reporting the details about your sales and purchase transactions accurately in the tax returns and catering to the claims Input Tax Credit.
We can help you file all types of GST returns such as GSTR-1, GSTR-2, GSTR-3, GSTR-4 (for composition dealers), GSTR-9 (annual GST return) with high precision and prompt support.
If you want to make applications for refunds of excess GST payments, we can assist you with the same too. With Assessor, penalties and late fees will always stay far from your business.
GST Amendment or Modification
If there are alterations in the details you submitted for your GST registration, it is imperative to apply for GST amendment or modification. Change in your business address or partners’ and directors’ information is among the aspects you need to communicate with a GST amendment application. Assessor will surely ease this modification process for you. Just reach out to us with the relevant modified document proofs. It is important to note that you cannot modify your registration on a change in your PAN. You need to get a fresh registration in such a case.
Entities with an annual turnover above Rs. 2 crores from their operations need to conduct a GST audit. It involves a proper examination of your GST accounts, records, returns, and other relevant information. You need to get a turnover-based audit done through a Chartered Accountant or Cost Accountant. Assessor can facilitate you in the GST Audit needs of your venture.
GST Cancellation or Surrender
If circumstances compel you to close your business venture, you need to cancel your GST registration. Our efficient team can back you for this task and get your registration cancelled in no time.
E-Way Bill Generation
Electronic way bill or E-Way bill is another crucial document essential as per the GST law during your goods’ movement. The professionals at Assessor can help you with the generation of E-way bills for your conveyance needs. There are different ways in which an e-way bill can be generated. You can get complete guidance for the relevant E-Way bill compliances with us.
Assessor- The All-Rounder
Just as the Goods and Service Tax is the comprehensive law replacing the multiple laws system in India, Assessor is here to provide complete backing to handle all your diverse tax needs of GST and Income tax without any hassle. Contact our team to know more about our services!