GST Services

GST Services

GST is a huge reform for indirect taxation in India, the likes of which the country has not seen post-Independence. GST will simplify indirect taxation, reduce complexities, and remove the cascading effect. It will have a huge impact on businesses both big and small, and change the way the economy functions.

GST is a comprehensive indirect tax levy subsuming all central and state levies with a single unified value added tax transforming the nation into one single market. Major Central and State taxes are subsumed into GST which will reduce the multiplicity of taxes, and thus bring down the compliance cost. With GST, the burden of CST will be phased out.

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GST Services

DUAL GST

India has adopted “Concurrent dual GST” model.

Under the Concurrent Dual GST Model taxes shall be levied as per place of supply of goods and services. In case of supplies within the State or Union Territory –

  • Central GST (CGST) will be payable to the Central Government
  • State GST (SGST) or Union Territory GST(UTGST) will be payable to the State Government or Administrator of Union Territory (as applicable)

CGST and SGST will also apply in Union Territories having legislature, i.e. Delhi and Puducherry.

GST Services

Advantages of GST

  • Removing cascading tax effect
  • Composition scheme for small business
  •  Lesser compliances
  •  Increased efficiency in logistics
  • Higher threshold for registration
  •  Online simpler procedure under GST
  •  Defined treatment for e-commerce
  •  Regulating the unorganized sector
GST Services

DISADVANTAGES OF GST

  • GST is not good news for all sectors, though. In the current system, many products are exempted from taxation. The GST proposes to have minimal exemption list. Currently, higher taxes are levied on fewer items, but with GST, lower taxes will be levied on almost all items.
  • GST is not applicable on liquor for human consumption. So alcohol rates will not get any advantage of GST.
  • Stamp duty will not fall under the GST regime and will continue to be imposed by states.

Following documents are required for GST Registration:

1.Documents Required for the private company (pvt ltd)/ public company (Limited company) (OPC)

Company Documents

  • PAN card of the company
  • Registration Certificate
  • MOA / AOA
  • Board resolution authorising director

Director Documents

  • PAN and address proof

Registered Office

  • Electricity / Water / Landline bill
  • Property tax receipt
  • NOC from owner
  • Rent agreement (if rented)

2.Documents Required for Limited Liability Partnerships(LLP)

LLP documents

  • PAN card of the LLP
  • Registration Certificate of the LLP
  • LLP Partnership agreement
  • Declaration to comply with the provisions resolution authorising director.

Director related documents

  • PAN and Address proof of designated partners

Registered Office documents

  • Copy of electricity bill/landline bill, water Bill
  • No objection certificate of the owner
  • Rent agreement (in case premises are rented) owner
  • Rent agreement (in case premises are rented).

3.Documents Required for Partnerships Firms

Partnership documents

  • PAN card of the Partnership
  • Partnership Deed
  • Declaration to comply with the provisions resolution authorising director.

Registered Office documents

  • Copy of electricity bill/landline bill, water Bill
  • No objection certificate of the owner
  • Rent agreement (in case premises are rented)

Designated Partner related documents

  • PAN and Address proof of designated partners

4.Documents Required for Individual/ Sole Proprietorship

Individual documents

  • Copy of electricity bill/landline bill, water Bill
  • Copy of Pan Card & Address proof (I.e. Aadhar card/Voter ID)
  • Photo, Email ID & Mobile No. resolution authorising director.

Registered Office documents

  • Copy of electricity bill/landline bill, water Bill
  • No objection certificate of the owner
  • Rent agreement (in case premises are rented)

GST ADVISORY AND COMPLIANCE

JP & CO., provides expert services on GST matters. Though the introduction of GST subsumed as many as tax laws into one, there has been amendments and changes on a regular basis to address the many of the hardship which have arisen on introduction of GST and also to address the political compulsion of the government. All these changes on a very frequent basis, have undone the simplicity of GST and consequently increasing the requirement of Expert advice in complying with the frequently changing GST requirements. Various services provided by us as follows:

GST Services

 Obtaining Registration.

  • Preparation and filing of Returns.
  • Handling GST Matters & Notices
  • Opinion & Advice on GST Matters
  • Compliance with changes in law.
  • Filing for GST refund, LUT Bond Etc.
  • Representation before Tax Authorities.
  • Appeal at Tribunals and Courts