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Streamline Your GST Compliance with Expert Guidance
Goods & Services Tax (GST) is a comprehensive, multi-stage, destination-based tax that is levied on every value addition. Since its implementation, GST has significantly transformed the tax landscape in India. However, navigating the complexities of GST regulations and ensuring timely compliance can be challenging for businesses of all sizes. At Accotale, we offer end-to-end GST services designed to help you manage your GST obligations efficiently and effectively.
Our GST services are tailored to meet the unique needs of your business. We provide comprehensive support across all aspects of GST, from registration and return filing to compliance audits and dispute resolution.
Goods and Services Tax (GST) Registration is a process through which businesses must register under the GST law in India. It is mandatory for businesses that exceed a certain annual turnover to be compliant with GST regulations. GST is a unified indirect tax that has replaced many central and state taxes like VAT, service tax, excise duty, etc. It applies to the supply of goods and services and ensures uniformity in the tax structure across the country.
At ACCOTALE we assist businesses with smooth and hassle-free GST registration, ensuring legal compliance and enabling them to operate within the GST framework.
We assist you in obtaining GST registration and setting up your GST accounting processes, ensuring that you start on the right foot and comply with all legal requirements.
Timely and accurate filing of GST returns is crucial to avoid penalties and interest. We handle the entire return filing process for you, ensuring that all returns are prepared correctly and submitted on time.
Staying compliant with GST regulations can be complex due to frequent changes in the law. Our team ensures that your business adheres to all GST compliance requirements, including invoicing, input tax credit management, and record-keeping.
We conduct thorough GST audits to verify the accuracy of your returns and identify potential areas of improvement. Our assessments help you mitigate risks and ensure that your GST practices are in line with current regulations.
While most businesses are required to register for GST if their annual turnover exceeds certain thresholds, there are specific categories of businesses that must mandatorily register for GST, regardless of their turnover. These businesses are involved in certain types of activities that automatically fall under the GST framework due to the nature of their operations.
Individuals engaging in interstate taxable supply (with a threshold of ₹20 lakhs/₹10 lakhs applicable for interstate supply of taxable services, specified handicraft goods, and handmade goods)
Casual taxable persons involved in taxable supply
Individuals obligated to pay tax under reverse charge for received inward supplies
Strategic advisory services to optimize your GST liabilities and take advantage of available exemptions and credits.
Any business whose annual aggregate turnover exceeds ₹40 lakhs (₹10 lakhs for special category states) in goods or ₹20 lakhs for services is required to register for GST.
Businesses involved in the supply of goods or services across state borders must register for GST, regardless of their turnover.
Any business that supplies goods or services through an e-commerce platform must register for GST, regardless of turnover.
Individuals or businesses engaged in temporary or occasional supply of goods or services in a state, even without a fixed place of business, are required to register for GST.
Businesses that distribute credit for services received across multiple branches or offices are also required to register under GST.
Businesses can voluntarily register for GST, even if their turnover is below the threshold, to claim Input Tax Credit and streamline their operations.
GST registration can be obtained voluntarily by any business or individual, regardless of their turnover. However, GST registration becomes mandatory when a business’s turnover exceeds a specified threshold. The online GST registration process offers a quick and convenient way for businesses to comply with this requirement.
Any individual or entity providing services with an aggregate turnover exceeding ₹20 lakhs in a financial year is required to register for GST. In special category states, this threshold is reduced to ₹10 lakhs.
As per Notification No.10/2019, businesses engaged solely in the supply of goods must obtain GST registration when their annual aggregate turnover crosses ₹40 lakhs. However, to qualify for this threshold, the following conditions must be met:
If any of these conditions are not fulfilled, the supplier must register for GST once their turnover exceeds ₹20 lakhs, or ₹10 lakhs in special category states.
Under GST regulations, the special category states include: Arunachal Pradesh, Assam, Jammu & Kashmir, Manipur, Meghalaya, Mizoram, Nagaland, Sikkim, Tripura, Himachal Pradesh, and Uttarakhand.
The aggregate turnover for GST purposes includes the total value of:
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