GST Consultancy
(Professional advice for your business)

GST Consulting & Implementation

We can perform GST impact assessment and structure your business in the most tax-efficient manner with respect to the utilization/refund of input GST and in accordance with Federal Tax Authorities (FTA) requirements. Our team takes care of GST, Excise Tax, international taxation, indirect taxes, guiding about local tax laws, and compliance of tax and GST regulations in different countries.

Impact Analysis for the Business and Existing Contracts

Businesses and traders will need to incorporate GST into their accounting systems and will need to keep accurate records to exhibit to the tax authority that they have correctly applied the GST rules. IT systems will form an important part of this process and in all organization, a fully automated tax engine will likely be a necessity.

GST Registration & Return Filing

We are known for our ability in tax planning and our tax team will ensure you very minimum tax exposure with all the requirements met. In todays world tax planning is essential for every business in order to manage cash flow efficiently, Opex-Capex planning, working capital management and complying tax laws to avoid hefty penalty.

GST: Some Key Highlights

What is GST in India?
GST is known as the Goods and Services Tax. It is an indirect tax which has replaced many indirect taxes in India such as the excise duty, VAT, services tax, etc. The Goods and Service Tax Act was passed in the Parliament on 29th March 2017 and came into effect on 1st July 2017. In other words, Goods and Service Tax (GST) is levied on the supply of goods and services. Goods and Services Tax Law in India is a comprehensive, multi-stage, destination-based tax that is levied on every value addition. GST is a single domestic indirect tax law for the entire country.

Multi-stage
An item goes through multiple change-of-hands along its supply chain: Starting from manufacture until the final sale to the consumer.
Let us consider the following stages:
• Purchase of raw materials
• Production or manufacture
• Warehousing of finished goods
• Selling to wholesalers
• Sale of the product to the retailers
• Selling to the end consumers


Value Addition
A manufacturer who makes biscuits buys flour, sugar and other material. The value of the inputs increases when the sugar and flour are mixed and baked into biscuits.
The manufacturer then sells these biscuits to the warehousing agent who packs large quantities of biscuits in cartons and labels it. This is another addition of value to the biscuits. After this, the warehousing agent sells it to the retailer.
The retailer packages the biscuits in smaller quantities and invests in the marketing of the biscuits, thus increasing its value. GST is levied on these value additions, i.e. the monetary value added at each stage to achieve the final sale to the end customer.


Destination-Based
Consider goods manufactured in Punjab and sold to the final consumer in Himachal Pradesh. Since the Goods and Service Tax is levied at the point of consumption, the entire tax revenue will go to Himachal Pradesh and not Punjab.