Simplify GST, Tax Registration, and Filing Returns with VPRP & Co LLP

Service Offering - Goods and Services Tax

VPRP & Co LLP can provide expert guidance and advisory services for GST registration, GST checks, and all aspects of indirect taxes in India. Our expert GST advisors analyze the nature of your business, the goods or services you provide, and turnover thresholds for your GST registration. This helps us provide up-to-date GST registration consultations and help businesses obtain a GST Identification Number (GSTIN). Seeking expert GST advisory and guidance to assist you with filing GST returns and auditing at the right time, contributing towards the growth of your business.

Our GST experts reduce complications associated with GST returns by optimizing compliance and ensuring timely returns.

Setting up GST for Your Business

Our expert GST advisors analyze the nature of your business, the goods or services you provide, and turnover thresholds for your GST registration.

This helps us provide up-to-date GST registration consultations and help businesses obtain a GST Identification Number (GSTIN).

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GST Advisory

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Our GST advisory services ensure your business abides by GST laws and files tax returns on time. Our GST advisory experts provide personalized advice based on your contracts, agreements, and financial documents like invoices and bank statements. Our other GST advisory services include:

● Advice on GST registration, amendment to registrations, positions, and other routine queries

● Advice on GST implications based on a review of specific contracts, agreements, and invoices

As a business, GST compliance is crucial to meet legal regulations and tax obligations.

Our GST experts assist your business by checking GST documents and ensuring they comply with legal and tax regulations.

GST Returns and Audits

GST Refunds

Our GST returns services include filing GST returns on sales purchases by the payer monthly. On the other hand, our GST audit services comprise checking the business’s financial transactions in compliance with GST regulations. Our detailed GST compliance, returns, and audit services involve:

● Computation of tax payments and filing of GST returns

● Reconciliation of input tax credits as per the GST system and updation of company records

● Preparation of a compliance tracker for businesses

● Assistance in queries related to e-Way bill generation and undertaking GST audits

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GST refunds can be claimed by a business when the sales are greater than their GST liability upon application..

Our offerings include:

● Assessment of the legal possibility of claiming a GST refund

● Preparation and filing of refund claims

● End-to-end support, including liaising with regulatory authorities to obtain refund orders

GST Litigation Services

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Our GST litigation services aim to resolve your disputes. We prove our expertise by replying to all GST notices and appeals on behalf of your business.

The other GST litigation services we offer are:

● Drafting and filing applications seeking advance rulings

● Representation services

● Litigation reviews

GST Compliances

FAQs

1. What is the GST?

GST, or Goods and Services Tax, is an indirect tax levied on the supply of goods and services. It is collected at every point of sale or provision with credit for taxes paid at previous stages. It aims to integrate taxes and reduce the cascading of taxes.

2. What is the monthly GST return?

GSTR-7 is a monthly return to be filed by those who are required to deduct TDS (Tax deducted at source) under GST. The same will be reflected in the TDS Return 24Q, with details of TDS deducted, TDS liability payable & paid and TDS refund (if any) applied for.

3. What are the 4 types of GST?

The four main types of GST are as follows:

● CGST (Central GST) is levied by the Centre on intra-state supplies

● SGST (State GST) is levied by States on intra-state supplies

● IGST (Integrated GST) is imposed on inter-state supplies

● UTGST (Union Territory GST) is imposed in Union Territories

4. What is the rule of GST invoices?

GST laws require serially numbered invoices for all taxable supplies/services. Under Rule 46 of CGST Rules, 2017, the invoice shall include the supplier/recipient name, GSTIN, date, value excluding tax, tax rate and amount, value including tax, and HSN/SAC codes. Sometimes, an invoice or bill of supply is not needed for supplies under Rs. 200. The receiver and supplier must save a copy and send invoice data to the GST website.