GST related services in Vadodara

Goods and Service Tax - GST

Devesh Purani & Associates is one of the best GST Consultant in Vadodara. If you are looking GST related services in Vadodara then you are at right place. We are committed to deliver comprehensive services in the area of GST. These include providing services related to GST registrations and return filings, GST assessments, GST Advisory and Tax Compliances, Due Diligence and litigation services. In litigation, we represents before Tax Authorities on behalf of clients. Our team has a rich experience in representing clients both in the previous indirect tax regime and new GST regime.

Consult Devesh Purani & Associates for all kind of Income Tax related Queries and Concerns. We provide quality and prompt service in Akota, Vadodara, Gujarat and other cities of India.

What is GST

The goods and services tax (GST) is a value-added tax levied on most goods and services sold for domestic consumption. It is a destination based tax on consumption of goods and services. It is proposed to be levied at all stages right from manufacture upto final consumption with credit of taxes paid at previous stages available as set off. In a nutshell, only value addition will be taxed and burden of tax is to be borne by the final consumer.

GST is an indirect tax levied on the supply of certain goods and services in India. GST has subsumed multiple indirect taxes like excise duty, service tax, VAT, CST, luxury tax, entertainment tax etc into one.

India has adopted dual GST model where GST is levied by both the federal and the State Government. GST was introduced on 1st July 2017

Why GST?

GST is basically structured to simplify current indirect tax system in India. It integrates the union excise duties, custom duties, service tax, and state VAT into a single point levy i.e., GST. It’s a reform which attempts to create a common national market.

Benifits of GST

Registration under Goods and Service Tax (GST) regime will confer following advantages to the business:

You can legally collect taxes from your customers and pass on the Tax Benefits to suppliers.
Business Becomes 100% tax Compliant
You can Claim Input Tax Credit which you have paid on your purchases and improve profits.
GST certificate can be used as one of the documents while opening current account or Business Account.
You can easily apply for various states and Central Government tenders if you have GSTN.
Expand your business through various channels like Online, Import-Exports
To start payment gateways and use mobile wallets GST number is used.

Legal requirements

Every business making taxable supply of goods or services are required to take GST registration. It is mandatory for every business to take GST registration if its aggregate turnover exceeds Rs. 40 Lakhs in case of supply of goods & Rs. 20 Lakhs in case of supply of services.

Legal Process

If a supplier of goods or services or both become liable for GST registration, he has to register its business under GST on GST portal. Once a business is successfully registered, a unique 15-digit registration number is assigned to them known as the Goods and Services Tax Identification Number (GSTIN).

All registered businesses have to file monthly or quarterly and an annual GST return based on the type of business. All these GSTR filings are done online on the GST portal.

Documents require for GST Registration

For Proprietorship

GST For Proprietorship

PAN Card of Owner
Aadhaar Card Of Proprietor
Bank Details
Address Proof

For Private Limited

GST for Private Limited

PAN Card of Company
Aadhaar of All Directors
Bank Details
Address Proof
MOA, AOA and Incorporation

For Partnership / LLP

GST for Partnership / LLP

PAN Card of Company
Aadhaar of All Directors
Bank Details
Address Proof
Partnership Deed/ LLP Certificate

Penalties involved under GST Act

Not having GST Registration : 100% tax Due or Rs10,000. Whichever is higher
Not giving GST invoice : 100% tax due or Rs10,000. Whichever is higher
Incorrect Invoicing : Rs 25,000
Not filing GST Tax Returns : For Nil Return its Rs 20 Per Day, Regular Returns Rs 50 Per Day.
Choosing Composition Scheme even if not eligible : 100% tax due or Rs10,000. Whichever is higher

GST related services in Vadodara

Reach out to us for all kind of servieces related to GST in Vadodara.

FAQ's

1. What is GST?

GST (Goods and Service Tax) in India is an Indirect tax in India. As per the GST laws it is necessary to apply for GST registration when a business falls under certain criteria. As a GST related service provider in Vadodara, Devesh Purani & Associates provides simple, fast and cost-effective solutions.

2. Who can apply or register for GST?

Below mentioned taxpayers have to apply for GST registration:

Individuals registered under the Pre-GST law (i.e., Excise, VAT, Service Tax etc.)
Taxable person who supplies goods and the annual turnover of his business is above 40 lakhs and the one who supplies services with annual turnover of rupees 20 lakhs.
Every e-commerce aggregator.
Casual taxable person / Non-Resident taxable person.
Agents of a supplier & Input service distributor.
Those paying tax under the reverse charge mechanism.
Person who supplies via e-commerce aggregator.

3. On which goods can Input Tax Credit be availed?

One can avail the input tax credit on the following goods:

Inputs held as stock
Inputs contained in semi-finished goods or finished goods held as stock
Capital goods (only in cases where composition taxpayer opts out from the composition scheme and opts to pay the tax as a normal taxpayer or where the supply of exempted goods and/or services becomes a taxable supply)

4. How GST applicable on Import of Goods in India?

Import of goods will be treated under IGST (Integrated Goods and Service Tax), The incidence of tax will follow the destination principle and the tax revenue in case of SGST will accrue to the State where the imported goods and services are consumed. Full and complete set-off will be available on the GST paid on import on goods and services.

5. How GST applicable on Export of Goods in india?

Exports will be treated as zero-rated supplies. No tax will be payable on exports of goods or services, however, the credit of input tax credit will be available and same will be available as a refund to the exporters. The Exporter will have an option to either pay tax on the output and claim refund of IGST or export under Bond without payment of IGST and claim a refund of Input Tax Credit (ITC).

6. I don't have any knowledge about GST Registration and GST Return. How would you help?

No worries! Devesh Purani & Associates would assist you and provide you service at ease. If you don’t have GST number then we can assist and guide for GST registration. Not only that we shall provide end-to-end service related to GST registratin, GST return filings, GST assessments, GST Advisory and Tax Compliances.

You can visit our Akota, Vadodara office for all financial or GST related work or if you are from other cities in India then we can consult over a Zoom, MS-Teams or any other Online meetings also.

Call Us, if you would like more information about our GST yearly packages. We will ensure that the process is stress-free, and we will provide you with all the guidance you need.

Useful Links

Our Services

Income Tax Return

We provide all kind of Income Tax Return service in Vadodara and major cities of India. No matter, whether it is Salaried, Business Professional, Senior Citizens, Super Senior Citizens, Non Resident and Hindu Undivided Family.

GST

Accounting & Auditing

Devesh Purani & Associates is one of the best Financial Consultant. We are providing Accounting & Auditing related services in Vadodara and all major cities of India.

Tax Planning

Devesh Purani & Associates is among the Top Tax Consultant in Vadodara, India and provides best Tax Planning services. A successful tax management strategy is essential, no matter what you’re working on or what your financial concerns may be. Getting the right advice upfront can make a significant difference to the end result.

Scrutiny & Appeal

Devesh Purani & Associates is among the Top Tax Consultants in Vadodara, India. We provide Scrutiny & Appeal related services in Vadodara and all major cities of India. We provide useful solutions to save you money on your Income Tax.

MSME

We have good experience related to MSME service in Vadodara and all major cities of India. Devesh Purani & Associates is among the Top Tax Consultants in Vadodara, India, We, provide useful solutions to save you money on your Income Tax.

How can we help you?

For all types of Accountancy, TAX, Audit, GST, MSME related queries reach out to us.

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Our experience with Devesh Purani & Associates is awesome so far! They are very pro in terms of providing their valuable suggetions, guidance and proactive! They are perfect and we are highly recommending them for their any types of Financial, Taxation, GST or MSME related services!

We wish them for their bright future ahead!

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Founder, Shubh Wedding

Looking for a GST Consultant in Vadodara?

We are ready to assist you with any type of GST Registration, GST Compliance, GST Audits, GST Supervisory Control, GST Return, or any other GST related question you may have.

We provide offline and online GST related solution to our customers based in Vadodara, Ahmedabad and major citities of India.

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