CA Services
GST & Indirect Taxation
One tax at the end of the supply chain instead of a stack of them along the way — provided the registration, invoicing and returns behind it are all in order.
Overview
What this covers
Goods and Services Tax, put simply, means that instead of paying tax at every level in the form of VAT, excise duty, sales tax, customs, luxury tax and service tax, a single tax is paid at the end of the supply chain.
Multiple input taxes used to be paid at every stage of build-up, each one an interaction with the tax authorities. GST replaces that with value added at each stage and a final tax paid by the customer to the last dealer in the chain.
In detail
How we work on it
Registration
To supply goods and products in India, GST registration is mandatory. Registration also unlocks input credit through the chain, which is where most of the benefit sits.
Arrange the documents
Everything on the checklist has to be ready before an application goes in.
File and await response
The application and supporting documents are filed, and a response is typically awaited for at least three days.
Registration and compliance
Once approved, the registration certificate is granted, and periodic returns are filed from then on.
When registration is compulsory
Registration is turnover-driven, but a number of cases require it regardless of how small the turnover is:
- Anyone making an inter-state taxable supply
- Casual taxable persons making a taxable supply
- Persons required to pay tax under reverse charge
- Non-resident taxable persons making a taxable supply
- Anyone providing online information or database access from outside India
- Agents supplying goods or services on behalf of someone else
- Input service distributors
- Sellers on e-commerce platforms, and the e-commerce operators themselves
- Persons required to deduct TDS, including government departments
- Anything else notified by the government from time to time
Turnover thresholds differ by state, and by whether you supply goods or services — and they have changed more than once. We confirm the limit that currently applies to you rather than working from a number on a web page.
Exemptions
There are two cases where registration is not required at all, whatever the turnover: suppliers of goods or services that are exempt from tax or cannot be taxed, and agriculturists supplying produce cultivated on their own land, whether they cultivate it themselves or employ others to.
Compliance after registration
There are a great many compliances under GST, and the penalties for getting them wrong are high. Three matter most:
- Invoices must be uploaded to the GSTN and reference numbers generated before the supply is made
- Periodic returns must be filed against those uploaded invoices
- An annual return must be filed as well
Return forms and filing frequencies under GST have been revised repeatedly since rollout. We work to the forms in force for your registration type at the time of filing.
Who it's for
You'll get the most out of this if…
- Businesses at or approaching the registration threshold
- Sellers on e-commerce platforms, and e-commerce operators
- Anyone making inter-state supplies
- Providers of online information or database access from outside India
- Businesses that have received a notice, or fallen behind on returns
Important information
The content on this website is for general information only and does not constitute investment advice or a recommendation to buy or sell any product. Product suitability depends on your individual circumstances. Please speak with an advisor before investing.
Also from the practice
The rest of what we do
Direct Tax Consulting
Income tax planning, return filing, assessments and representation for individuals and businesses.
Audit & Assurance
Statutory, internal, management, due diligence and tax audit for businesses and professional practices.
Insurance Solutions
Life, health and business protection, advised alongside the wealth plan rather than separately.
Next step
Let's look at your actual situation.
Fifteen minutes on a call, no obligation. Bring the notice, the spreadsheet or the question you've been putting off.
Important information
Mutual Fund investments are subject to market risks. Read all scheme related documents carefully before investing.
Sarvam Associates is a distribution partner, not the manufacturer of these products.
The content on this website is for general information only and does not constitute investment advice or a recommendation to buy or sell any product. Product suitability depends on your individual circumstances. Please speak with an advisor before investing.