Goods and Service Tax (GST)

Goods and Services Tax (GST) is an indirect tax throughout India to replace taxes levied by the central and state governments. Goods and services tax (GST) will subsume various indirect taxes including central excise duty, services tax, additional customs duty, surcharges, state-level value added tax and Octroi. Other levies which are currently applicable on inter-state transportation of goods are also likely to be done away with in GST regime

Some of our services include :

  • GST Migration
  • Assistance in adopting & migrating to GST laws
  • Filing of returns and other compliance related to GST or assistance
  • Guiding on specific rules, regulations & procedures as per the business requirement
  • Guiding on specific rules, regulations & procedures as per the business requirement Assitance maintaining records, audits & assessments
  • Periodic review & reporting of compliance status

GST CONCEPT

It is expected that the CA Mitesh Makwana shall provide the tax payers with all services mentioned above in addition to maintaining their individual business ledgers (sales ledger and purchase ledger) and other value added services around the same. Another important service expected from CA Mitesh Makwana's is the automatic reconciliation of purchase made and entered in the purchase register and data downloaded in the form of GSTR-2 from the GST portal. In additional there will be sector-specific or trade specific needs which the CA Mitesh Makwana are expected to fulfil.

While the GST System will have a G2B portal for taxpayers to access the GST System there will be a wide variety of tax payers (SME, Large Enterprise, Small retail vendor etc.) who will require different kind of facilities like converting their purchase/sales register data in GST compliant format, integration of their Accounting Packages/ERP with GST System. Similarly, the specific needs of an industry or trade could be met by CA Mitesh Makwana. In short, the CA Mitesh Makwana can help the taxpayers in GST compliance through their innovative solutions.

GST Compliances

The taxpayer under GST Regime will have to provide following information at regular intervals:

  • Invoice data upload (B2B and large value B2C)
  • Upload GSTR-1 (return containing supply data) which will be created based on invoice data and some other data provided by the taxpayer.
  • Download data on inward supplies (receipts or purchase) in the form of Draft GSTR-2 from GST Portal created by the Portal based on GSTR-1 filed by corresponding suppliers.
  • Do matching of purchases made and that downloaded from GST portal. Finalize the same based on his own purchase (inward supply data) and upload GSTR-2.
  • File GSTR-3 created by GST Portal based on GSTR-1 and 2 and other info and tax paid.
  • Similarly there are other returns for other categories of taxpayers like casual taxpayer or composition taxpayers.