Goods & Services Tax
- Financial Statement Audit
- Forensic Audit & Fraud Investigation
- Governance, Risk & Compliances
- Accounting Advisory
Since July 2017, India has begun using the Goods and Services Tax (GST), a thorough indirect tax. Excise duty, service tax, and value-added tax (VAT) were a few indirect taxes that the Central and State Governments imposed that have been replaced by the GST. It is a single, progressive tax levied on the production, exchange, and consumption of goods and services.
To assist clients in adhering to Indian GST laws and maximising their GST position, our organisation offers a variety of GST advice services.
The process of complying with the legal criteria established by the government for companies that are registered under the GST system is referred to as good and services tax (GST) compliance. It entails a number of tasks, such as:
- Return filing: Depending on the type of business, GST registered enterprises must submit periodical returns on a monthly, quarterly, or yearly basis.
- Invoicing: GST-compliant invoices must include certain information, such as the GSTINs of the supplier and receiver, the HSN code of the products or services, and the tax rates.
- Accounting: To ensure that all GST-related transactions are correctly accounted for, GST-compliant accounting entails maintaining accurate records of every transaction.
- Reconciliation: To ensure accuracy and compliance, GST reconciliation entails comparing information about invoices, receipts, and payments in the GST returns with that in the books of accounts.
- Audit and Assessment: GST audit and assessment entails confirming the correctness of the returns submitted by the business and making sure the business is in compliance with all GST requirements.
To prevent any non-compliance difficulties, firms must have a strong GST compliance framework in place. To manage their GST compliance and make sure they are constantly in line with the rules, many businesses work with tax experts or firms.
Litigations & Representation:
At I.P. Pasricha & Co., we recognise the value of professional representation and adherence to GST regulations in order to prevent future legal actions and disagreements. Our GST Litigations & Representation service is intended to aid businesses in navigating the complicated GST system and to offer knowledgeable direction and representation in case of any issues or litigation pertaining to GST.
We provide GST Litigations & Representation services, some of which are highlighted below:
- Team of experts: We have a committed group of experts on GST issues. Our team comprises chartered accountants, attorneys, and GST experts who can offer helpful advice and counsel in the event of any GST-related problems.
- Compliance audit: To make sure our customers are in compliance with GST rules and regulations, we do a thorough compliance audit of their GST records and paperwork. Moreover, we pinpoint possible areas of contention and provide our clients advice on how to resolve them.
- Representation in front of authorities: In a variety of settings, our team speaks on behalf of our clients. In GST disputes and litigation, we have a proven track record of success for our clients.
- Frequent updates: To maintain compliance and prevent controversies, we keep our clients informed of the most recent changes to GST legislation and regulations. In accordance with legal requirements, we also offer advice on how to preserve accurate records and paperwork.
We think that accurate representation and adherence to GST legislation are essential for every company’ success. Our GST Litigations & Representation service is created to offer businesses competent advice and counsel to assist them avoids any GST-related issues and litigation.
At I.P. Pasricha & Co, we offer excellent GST advisory and compliance services together with powerful tactics .We support companies in their efforts to comprehend and abide with GST rules and regulations.
Common advisory services offered under GST include:
- GST planning: We may offer guidance on how to set up business activities and transactions to lessen the effect of GST on the company.
- GST refund: We can help companies file claims for GST refunds on extra input tax credits or tax paid on exports.
As a result, advisory services provided under the GST can assist people and businesses in navigating the complexities of the GST system and ensuring compliance with relevant rules and regulations.