GST & Compliance

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Services Offered : GST & Compliance

We provide complete GST advisory & Compliance services including registrations, returns, tax advisory & GST Audits to businesses in India:
GST is likely to be implemented from July 2017 across India. We advise many companies for GST related compliance such as:

  • Advisory services / Transaction restructuring to optimize benefits in GST
  • GST Registration, Return filing & Compliance w.r.t GST
  • GST Audits & Monthly support
  • Refund & Export related
  • Litigation services including representation before adjudicating authorities

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.

Expense Consulting Included

There are three taxes applicable under this system: CGST, SGST & IGST.

  • CGST: It is the tax collected by the Central Government on an intra-state sale (e.g., a transaction happening within Maharashtra)
  • SGST: It is the tax collected by the state government on an intra-state sale (e.g., a transaction happening within Maharashtra)
  • IGST: It is a tax collected by the Central Government for an inter-state sale (e.g., Maharashtra to Tamil Nadu)

In most cases, the tax structure under the new regime will be as follows:

Transaction New Regime Old Regime Revenue Distribution
Sale within the State CGST + SGST VAT + Central Excise/Service tax Revenue will be shared equally between the Centre and the State
Sale to another State IGST Central Sales Tax + Excise/Service Tax There will only be one type of tax (central) in case of inter-state sales. The Centre will then share the IGST revenue based on the destination of goods.
 
     
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