The Goods and Service Tax (GST) has been the biggest game-changing step in the Indian economy. By introducing this single tax, taxes, including Service Tax, State VAT/ Sales Tax, Central Excise Duty, Entertainment Tax, Purchase Tax, Luxury Tax, Surcharges and Cess, and many others taxes, are replaced by GST. From July 1, 2017, onwards, GST has replaced India’s current complex State and Central indirect tax structure to make a common market with an unlined indirect tax regime.
Now, the Goods and Service Tax is practised as a single indirect tax for the whole nation applied to the supply of goods and services from the manufacturer to the consumer. This indirect tax affects every part of businesses, from Cash Flows to Financial Reporting to Tax Accounting and reporting to pricing to profitability to supply chain to marketing, and so on.
But most of the business people have only the surface level knowledge or understanding of GST, there are only few big corporates who have the knowledge on how to handle GST. Small business people have faced multiple challenges in handling GST; they are not only struggling in understanding but also in various aspects and subtleties of the GST regime. Most of them are also clueless about choosing the right person who can handle GST and GST filing processes for their business.
Not all businesses are the same; each one has different needs and requirements, so each one has to develop or search for customized solutions that will be suited to their business and needs. And, because of the intensive growth of technical solutions, most business owners are not in a place to determine or fix the partner or solution in a steady manner. Here is the place where GST consultant comes in; they are the people who are experts in GST and its filing procedures. A GST Practitioner is an individual who is authorized by the Central or State Government to execute all tax-related processes or activities on behalf of any business people in India.
Why do we need a GST Consultant for Companies or Businesses?
This GST has transformed the transportation and logistics sector and has created multiple opportunities in the business supply chain. By understanding and applying this, companies or businesses also can now simplify and strengthen their distribution networks. To help business owners understand this method of revamping their business supply networks while adopting the GST law and procedures, a GST Consultant can advise and guide them in a better way. Such a consultant can also support your business on how to handle your IT systems in various areas like invoices, purchasing, financial reporting and so on.
Role of GST Consultant
These are the tax-related activities in which a GST consultant can guide you:
- File an application or apply for GST registration
- File an application for cancellation or modification of GST registration
- Provide or give details of outward and inward supplies
- Provide the details of monthly, quarterly, annual and final GST returns
- They make payments on behalf of their customers for credit into the electronic cash ledger, such as payments for tax, penalty, interest, fees, or any other amount.
- File a claim for any refund for the above payments
- Represent the taxable person in any process under the Act, excluding inspection, seizure, search, and arrest
- Filing an appeal to the First Appellate Authority
- Filing an appeal to the Appellate Tribunal, this can be done only by a CA/CS/ICWA/Advocate.
Services provided by GST Consultants of Kanakkupillai
Since the introduction of the GST bill, the demand for the Best GST Consultants in India has also gone up. We at Kanakkupillai, with GST professionals, provide expert advice, support and guidance to various organizations and different businesses which deal with the sale and purchase of goods. Our GST consultants provide the utmost support and advice to all types of businesses to implement their GST program effectively. We not only stop with mere support but also train them about GST and related schemes and educate them on all the details that help them understand the implications of GST Law.
As the compliance of GST may throw up some unique challenges in which an expert GST Consultant can help the company to make everything smooth that is GST Implementation & Transition, GST Training and GST Law Implications.
Who are GST Consultants?
A GST consultant is a professional who can simplify and consolidate the logistics and transportation sector of the business and help the organization understand what GST is, how the Supply chain and operations work with GST law, and how to lay down GST procedures for your business.
They guide the business to revamp your IT systems, such as purchasing, invoicing and financial reporting to account as per the tax structures. Basically, experts in Indian Economy, Chartered accountants and operation consulting professionals are considered as GST professionals as they can provide knowledgeable services to all kind of business-related queries. We at Kanakkupillai have an expert team of professionals who are best at handling all types of business-related activities.
Here are the services provided by a Professional GST Consultant
- GST Registration: The GST registration procedure can be done through an online portal maintained by the Government of India. GST professionals can get GST registration for your business in a short span of time.
- GST Returns: As per the GST Act, every registered entity must submit the details of their sales and purchases, counting the tax paid and collected, by filing GST returns regularly. The GST Consultant team will handle this for you and let you focus on your business.
- GST Compliances: The GST Consultant will update you on all new compliances that have been announced by the GST Council.
- GST Assessment: GST consultants can guide and assist you in the complete GST assessment process executed by tax authorities.
- GST Amendments: Once you register your business as goods and services taxpayer and if you want to make any alteration or change in your submitted information of core or non-core fields such as addition of place of business, change in address and so on, you can reach GST professionals as they are source where you can bet better assistance.
- GST Audits: With rich knowledge on GST, a GST Consultant or a GST team of professionals, perform audits and prepares all needed audit reports for your business.
Related Service
