How GST Consultant In Bangalore helps you for GST filling

by Deepak Bhardwaj Digital Marketing Expert

GST or Good and Service Tax are by far the largest and the most significant tax reform that India has seen. The bills came into existence in July 2017, includes are (CGST) Central GST, (UTGST) Union Territory GST, Bill to the Compensate States and State GST (SGST). In order to handle the complicated GST tax structure, many companies are hiring GST consultant in Bangalore. 

1. CGST- Central Goods and service tax is charged over the sales done within the state and is taken by the central government.

2. SGST- State Goods and Service tax is charged over the sales done by the company within the state and goes to the state government.

3. IGST- Integrated Goods and Services Tax is basically charged by the central government when the goods are moved from one state to another. 

The Role of GST Consultant in Bangalore

A GST consultant is an individual who is well versed in registering the taxes on behalf of the businesses liable to pay taxes. They are certified by the government of India to carry out various tax-related activities. Here are some of the primary services of a GST consultant: -

•    They present the application for new GST registration of a company.

•    Implement any changes required or cancel any registration.

•    Note details about outward and inward supplies.

•    The main task of GST consultant is making payments such as tax, interest, fees, penalty etc.

•    They also file GST returns on the monthly, quarterly, and annual basis.

•    They file the refund claim of a company. 

How have companies geared up for GST India?

Advocacy

GST is a driving force in numerous regulatory changes and also affects how taxpayers perceive taxes. A tax professional role is to ensure that the GST regulation is in compliance with the GST law. For any company it is imperative to keep their knowledge up-to-date in the current dynamic environment; therefore a tax consultant is best in such a scenario. They help companies and entrepreneurs to mitigate any issues relating to business that arise from the GST. 

Accounting

Tax consultants integrate the correct business processes in IT, accounting infrastructure domain, automating, registration, business assessment, invoice reconciliation, returns preparation, filing and much more. GST practitioners have the expertise to manage these transitions. 

Tax planning

Tax planning is a tricky part of the business. Tax consultant will anticipate any issues that may arise in taxes. They mitigate the tax cost that is valued by individuals and corporate. Companies, in order to minimise the tax burden, requires the services of tax professionals who will reconfigure their existing transaction methodology.

Regulatory compliance

The businesses need guidance in registration and the maintenance of the tax records under the GST. The enterprises and corporate opt for professional help in the filing the necessary forms. They ensure large enterprises and manufacturing sectors are under GST compliant while addressing the doubts of any business. 

Ms Associates is the leading GST consultants and CA firm helping businesses in Bangalore. 

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Created on Feb 22nd 2019 03:25. Viewed 614 times.

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