GST Advisory

GST Advisory

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OVERVIEW

PARAKH MANAGEMENT SERVICES PVT.LTD.(PMSPL)is a leading GST advisory firms In India.GST advisory firm for domestic and international companies in India. We have extensive experience in tax and implications as well as fully aware of the nature of transactions in various industries or activities.

Our GST teamhas experience working with every business. We have dealt with various GST and indirect tax-related issues.

PMSPL gives a structure to the client’s plan and helps them execute properly their tax formalities. We analyze the existing accounts for tax saving and develop strategic plans that include transaction structuring, business reorganization, and alternative filing positions. And, we ensure that the efforts of our clients’ tax departments are positively impacting the overall strategic objectives of their organizations.

gst advisory

OUR SERVICE OFFERINGS

We have been sincerely involved in monitoring the developments on GST. We help businesses in anticipating policy changes and as evaluating the impact on their operations. We offer a host of specialized GST advisory services which includes studying its effect on the business of our clients, set-up analysis including alternative business models, decretive business level implementation assistance, and transition management and undertaking key compliances.Our expert GST advisory team closely work with the indirect tax team of a business organization and focus on the following parameters.

   

OUR ADVISORY SERVICES ON GST INCLUDE

Assessing the fiscal impact of GST on business and product pricing, through evaluation of key parameters including:
Change in tax rates.
Change in Time and Place of supply rules for goods or services or both.
Evaluating the impact on outward supplies, including goods and services. Analyzing the impact on procurement of inputs or input services.
Valuation mechanism under GST, including incidence on free of costs supplies, stock transfers, discounts, incidental supplies,and supplies to related parties.
I am analyzing position on the availability of input tax credits or credit restrictions or additional tax credits on procurements of goods and services.
Basis the above parameters, assessing the Impact of GST on the Company’s operations, select products, and working capital.

HOW CAN WE HELP? Why PMSPL?

01.
We help you get a secure GST Identification Number.
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02.
We make it easy for you to get your GST from the comfort of your own home. We do the entire process online.
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03.
We will file your returns and complete all other compliances as and when required.
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PMSPL GST ADVANTAGES

PMSPL is using the internet to simplify time-consuming paperwork. Over the past five years, we have facilitated start-ups register themselves, protect their intellectual assets, secure funding from Venture Capitalists & execute with the many guidelines of the MCA.

 

FREQUENTLY ASKED QUESTIONS

It is a destination based tax on consumption of goods and services. It is proposed to be levied at all stages right from manufacture up to final consumption with credit of taxes paid at previous stages available as setoff. In a nutshell, only value addition will be taxed, and the burden of tax is to be borne by the final consumer.
The CGST and SGST would be levied at rates to be jointly decided by the Centre and States. The rates would be notified on the recommendations of the GST Council.
The mechanism of GST Council would ensure harmonization on different aspects of GST between the Centre and the States as well as among States. It has been provided in the Constitution Act, 2016 that the GST Council, in its discharge of various functions, shall be guided by the 15 need for a harmonized structure of GST and the development of a harmonized national market for goods and services.
Taxable event under GST is the supply of goods or services or both. CGST and SGST/ UTGST will be levied on intrastate supplies. IGST will be levied on inter-State supplies.
A trader dealing only in exempted goods or where his turnover is below Rs.20 Lakhs inThe financial year (but not engaged in inter-State supplies) is not required to register under GST.
Yes. Composition levy is an alternative method of levy of tax designed for smallTaxpayers whose turnover is up to Rs. Seventy-five lakhs (Rs. 50 lakhs for special category States). TheBasic objective is to bring simplicity and reduce the cost of compliance for the small taxpayers.The scheme is optional and is mainly for small traders, manufacturers, and restaurants.
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