Goods and Services Tax (GST) and Value Added Tax (VAT) are indirect taxes associated with the supply of goods and services, subject to the applicable tax laws. Businesses need to maintain accurate transaction records, follow the relevant registration requirements, file applicable returns, and address tax-related queries within prescribed timelines.
we assist businesses with GST compliance, applicable VAT matters, return filing, tax records, and advisory requirements. Our aim is to make indirect tax compliance more organised and help clients understand the requirements relevant to their business activities.
What Do GST & Value Added Tax Services Cover?
Support with tax compliance, return filing, record maintenance, and applicable GST and VAT requirements.
GST Registration and Related Compliance
Assistance with GST registration, amendments, and related compliance requirements, depending on the nature and eligibility of the business.
GST Return Preparation and Filing
Assistance with preparing and filing applicable GST returns based on transaction records, tax details, and the filing requirements relevant to the taxpayer.
Input Tax Credit Review
Review of input tax credit records and related documents to help identify discrepancies and assess whether the claimed credit meets the applicable legal conditions.
GST Records and Reconciliation
Review and reconciliation of sales, purchase records, tax invoices, and relevant returns to identify differences that may require clarification or correction.
GST Notices and Departmental Queries
Assistance with understanding GST notices, preparing supporting documentation, and drafting appropriate responses based on the matter and applicable provisions.
VAT and Indirect Tax Advisory
Guidance on applicable VAT matters and other relevant indirect tax requirements, depending on the nature of the transactions, business activities, and governing law.
Frequently Asked Questions
Businesses can maintain GST compliance by filing returns on time, reconciling tax records, verifying input tax credit claims, and keeping accurate financial documentation.
GST reconciliation involves comparing sales and purchase records with GST returns and portal data to identify discrepancies, minimise errors, and ensure accurate tax reporting.
Claiming ineligible input tax credit may result in credit reversal, interest, penalties, or further action under applicable GST laws. Regular verification helps reduce these risks.
Businesses should review the notice, verify the relevant transactions, gather supporting documents, and submit an appropriate response within the prescribed timeline. Professional assistance can help address complex matters.
GST audits and tax reviews help identify reporting discrepancies, incorrect credit claims, compliance gaps, and potential tax liabilities before they lead to further complications.
Interstate supplies generally attract Integrated GST (IGST), while exports are treated as zero-rated supplies subject to applicable conditions. Correct classification and documentation are essential for compliance.
