- Leading GST Services Experts in Delhi NCR and India
- Retainer GST services including GST Returns, Audit, GST Cases, Assessments
- Expertise in Multiple states GST handling & compliances
- Strong GST in house professional experts to offer dedicated Account manager services
- Broad Industry coverage including Manufacturing, IT Services, FMCG, Food & Beverages, Retail, Hotel, Media, Agriculture, Services & a lot of others
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Get the Best GST Consultancy Services
If you are running a business then it is necessary that you choose the right type of GST registration and follow all of its rules and regulations, Especia offers the best GST consultancy Services all over india.
The Goods and Service Tax Act came in the Indian Parliament on 29th March 2017 and the nation got it into effect on 1st Jul 2017.
In the other words, goods and services tax (GST) is levied on the supply of goods and services.
What exactly is the GST?
GST is known as Goods and Services Tax. GST is an indirect tax which has replaced many indirect taxes in the nation such as excise duty, VAT, service tax and many more.
The Goods and Services Tax in India is a necessary, multi-stage, comprehensive tax that is charged on every value addition. GST is a single domestic indirect tax law as for the entire country.
What Especia Offers Under GST Consultancy Services
1. Our professional team of gst registration consultants will handle the intimations and notices from the GST Department and ensure their timely review and feedback.
2. GST preparations and GST assessments assist including an appearance before any authority or organisation for ensuring that there is no enlarge penalty for any non-compliance.
3. GST experts online will communicate with vendors for altering the GST return for ensuring the free flow of input tax credit.
4. We will also send due reminders for GST solutions on due dates that avoid any sort of penalty or financial issue.
5. Our gst consultant will help you in reviewing the management process by the vendor for aligning with GST provisions.
6. We also help in revising the vendor management process by our Expert GST consultants to avoid any non-compliance in the future.
Different Types of GST Registrations
There are four types of GST registrations available, after reading this post on GST solutions you will know which type of Gst registration is required for your business.
1. Central GST: Central Goods and Services Tax is charged as on the intra state supply of various services and goods.
2. State GST: State Goods and Service Tax is like CGST till some extent and is charged on the sale of your services and products within the state.
3. Integrated GST: Integrated Goods and Services Tax is charged on inter state transactions of services and products.
4. Union Territory GST: Union Territory Goods and Services is charged on the supply of services and products in any of the union territories in the country via Andaman and Nicobar Islands, Daman and Diu, Dadra and Nagar Haweli, Lakshadweep and Chandigarh.
Purpose of implementation of GST
1. GST has replaced hardships for people who are wandering to get solutions related indirect taxes, which existed under last year's tax regime. The best thing about the GST is it took the whole nation under one tax, which means one single tax is chargeable in every state of the country which will follow the same. And also it will help in making the work easier for Tax Administration, as it will lower the chances for corruption.
2. The ultimate objective of bringing GST was to demolish the streaming effects of end numbers of taxes. These indirect laws related to several taxes could not mark the tax credits for one tax against the another. This will lead to demolish the streaming effects of taxes and also contribute in bringing a change in tax culture of India.This seamless way for inputting tax credits for both goods and services is a remarkable change and source of development in history.
3. If we talk about the years before GST, people who pay taxes were really working hard while dealing with different taxes and tax authorities but now they are blessed with the best, as GST solutions. Rather than going for online file return and saving their time , people were going for the offline mode. But GST has changed the game, most of its procedures are online or you can take help from gst registration consultant. Everything these days is done within a click, from registration till return filing to refunds till e bill generation, GST made every task easier.
4. GST has contributed to the overall ease of doing business in India and also simplified many ways for taxpayers. Even if you are facing any issue or hardship, you can consult with any GST expert near you, you don't need to deal with it alone.
5. Bringing GST services to India has led to an update in consumption of indirect tax revenues. Due to these streaming effects of taxes under the last regime the price of goods in India went higher as compared to the global market. Which created an increase in consumption and led to higher revenues, that is the second major objective of bringing GST to India.
6. GST as the important function in the Indian economy is playing a vital role in simplifying the whole tax process and bringing more start-ups under one taxation system. It will help the government to generate revenue from such taxes, which will be used for the development and the betterment of our country.
Advantages of GST
The Goods & Services Tax can be beneficial as it simplifies taxation, by making it reduced with several different taxes into one straight-forward structure.
It was also thought to splash down on tax ignoring among businesses and reduce corruption.
There are many GST Consultancy Services whom one should consult for taking benefits from several GST solutions.
- Higher threshold for registration under guidance of GST Registration consultant.
- Composition schemes for small scale businesses several with GST solutions.
- Simple online facilities for GST compliances and GST solutions
- Defined process for e commerce
- Regulation in unauthorised sectors
Who has to pay the GST?
Most commonly , Goods and Services Tax is needed to be paid by the consumer or buyer of goods or services.
Some products, such as from the Food & Agricultural or Healthcare sector, may be exempted from GST depending on the jurisdiction.
For more information and guidance you can consult from a gst experts online.
How is this GST calculated?
The goods and services tax is calculated by simply multiplying the price of a good or service by the given GST tax rate. For instance, if the GST is 6%, a $1.00 soap bar would cost $1.06.
Tax Laws Before the implementation of GST
The centre and the state used to collect tax separately depending on the state. The tax regimes were different.
Even the import of tax was followed by a single person and the burden was taken on another person.
In this kind of case prior introduction of GST is a sum up of direct and indirect taxes which were present in India.
GST Impact Analysis
GST registration consultant analyse the impact of gst on business operations on the basis of the following parameters:
- Change in tax rates and structure
- Impact over procurement and hay-ward supply
- Valuation mechanism including free stock transfers, discounts and samples.
- The flow of input tax credits
- Impact of GST over the supply chain, overall operations and working capitals.
GST Advisory Services & GST Solutions
1. Advising clients for requirement of Online GST Registration and subsequent applicability of provisions of GST.
2. Assisting clients inputting registration under GST and obtaining GST registration number and GST amendments.
3. Advising clients for special purposes like casual taxability or reverse charge mechanism.
4. Advising clients for GST rates on goods & services.
5. Assisting the clients in segregating the supplies in goods or services.
6. Assistance for monthly GST returns advisory and filing support including all GST compliance Support.
8. Assistance on retainership basis of GST registration consultant services and CGST advisory services support issues related to GST compliances.
9. Assistance & filing of GST refunds including clearance.
GST Workshops and Training
- Our professional team can create custom GST training that will help your employees, customers and vendors understand the concept of GST.
- We also have custom GST training workshops for cross-functional teams that provide an idea of GST's impact on the different processes of the company.
Why to choose Especia for GST Consultancy services
- Replying and Monitoring to the notice and intimations received by the business from the GST department.
- We offer GST assessment and case preparation assistance that ensures no heavy and large penalty from any non-compliance.
- For avoiding penalties and financial intimations, we send due reminders for GST due dates.
- Especia also offers technology-based quality GST reconciliation procedures to avoid non-compliance and related queries for future.
- We also provide services such as reviving the vendor management process to go with the GST provisions.
Business with aggregate turnover within a financial year exceeding 20 lakhs rupees, mandatory to register under GST. This limit is finalised at 10 lakhs for northeastern and hilly areas, which are considered under special categorised states. For such advices we recommend you to consult a GST expert for GST Professional Services.
A Reverse charge is a liability that pays tax on the receipt of supply of goods and services instead of supplying such goods and services in respected categories.
No, you can not charge GST if you are not among the registered ones. And if you are among the registered firms, then you should charge. There is an exception where it is said that overseas customers are exceptions. For more GST consultation refer to a GST expert.