Goods & Services Tax (GST) is a comprehensive, multi-stage, destination-based tax that is levied on every value addition. The GST is paid by consumers, but it is remitted to the government by the businesses selling the goods and services. It is divided into 3 parts -

  • CGST: Collected by the Central Government on intra-state sales
  • SGST: Collected by the State Government on intra-state sales
  • IGST: Collected by the Central Government for inter-state sales

With the onset of GST from 1st July, 2017, many indirect taxes have been replaced and businesses have suffered fallout due to the technicalities of this new concept and its implementation since its inception. As GST has absorbed various indirect taxes like Service Tax and VAT, it has become necessary for business houses to have only one consultant for GST instead of separate ones as is the custom in, e.g. VAT and Excise matters.

Sutaria Associates offers the following GST related services:-

  • Assessment of impact of GST on clients’ business functions
  • Registration procedures for customers requiring smooth transition to the GST system
  • Accounting work with upgraded Tally ERP 9.0 software for GST
  • Prompt filing of GST returns as per Government’s decided schedule.
  • Corrective solutions to various compliance issues due to possible gaps in clients’ knowledge of GST at various levels.
  • GST operates on matching GST payments by sellers with corresponding ITC claims by buyers and we help monitor such unmatched credits issued by the government portal.
  • Opinions on key legal concepts of model GST laws and various procedures in the public domain.
  • Assistance in effecting changes in existing agreements to make them more GST compliant.

Since our focus in tax matters has by and large been in the Direct tax field, learning and adapting to GST as a new Indirect Tax has been relatively smoother. We stay updated on all the latest developments and have already secured a number of clients in need of becoming aligned with the GST structure.

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