GST Advisory

The scope and requirements of GST law are complex, voluminous and come with a lot of grey areas. We, at VJM & Associates LLP aim to make GST ‘simple and easy to implement’. We are able to break down complex things into simple language. No matter how complex the problem is, our experienced GST advisory and planning team is always ready to take your questions.

Our GST advisory team comes with a vast experience of handling several indirect taxes in India. We have on the ground experience of the hassles faced by taxpayers. We also undertake a 360 degree review of your organisation’s business and help you structure the transactions for tax optimisation as well as GST compliance.

Know More about GST Advisiory

Assessing the fiscal impact of GST on business

Change in tax rates;
Change in Time and Place of supply rules for goods or services or both;
Evaluating impact on outward supplies including goods and services;
Analysing impact on procurement of inputs / input services;
Valuation mechanism under GST, including incidence on free of costs supplies, stock transfers, discounts, incidental supplies and supplies to related parties;
Analysing position on availability of input tax credits – credit restrictions or additional tax credits on procurements of goods and services; and,
Basis the above parameters, assessing the Impact of GST on Company’s operations, select products and working capital.

Advise on realigning the operations to ensure tax efficiency

Identifying alternate business models to ensure tax efficiencies and credit-optimisation;
Evaluation of the alternate business models identified basis the tax costs involved;
Identify potential risks and suggest suitable mitigating strategies, associated with the identified models; and,
Define the business model / contractual scenarios after discussions with the Management that could be taken up for implementation.

Advise on implications under the anti-profiteering provisions

Ascertaining the impact of GST on the prices of products and services in view of additional tax costs / credits;
Advising on the appropriate pricing mechanism to be adopted considering the additional savings / burden and the legal provisions;
Advising the appropriate safeguards to be adopted; and,

Ensuring steps for smooth GST Transition

Implementation of changes in business processes such as establishing processes for billings, devising a system for receiving advances / payments;
Guidance on eligibility of specific credits that could be available under GST regime;
Evaluating and updating the eligibility and transferability of existing Input tax credits;
Assistance in preparation and uploading of statutory Forms for Transition of credits;
Guidance in relation to the manner of recovering tax from customers;
Highlighting key areas for negotiation, with vendors / customers, pertaining to the contractual arrangements;
Assistance in obtaining GST registrations or migrating existing registrations; and,

IT Functional Advisory for GST

Studying the existing IT System, basis blueprints and flowcharts shared with us, to provide the tax triggers and mapping for each of the business transactions;
Evolve logics basis the changes introduced in law including those for transition of credits;
Configuring tax rates and updating master file basis the scheduled rates;
Advise on the reports to be generated from the system for GST purposes;
Advise on the structuring of invoices, credit notes, debit notes and other related documents;
Conducting UAT Testing of the GST version of the IT systems and Reporting the observations; and,
Final testing of the IT systems and provide a compliance report.

Customised GST Trainings

Customised internal trainings for organisational requirements for Finance, Taxation, Legal, Commercial, Sales and Marketing departments; and,
Trainings for vendors, suppliers and customers.

What people say about us

By taking care of our Internal control policies and procedures, VJM Team have made sure that experience is hassle free.

sachin JainCFO, mahle filter system (i) pvt limited

Very professional approach from VJM Team, they got associated with us late in the financial year but were able to conduct an in depth audit and highlight the areas to be addressed within a short span of time. What gives us confidence is that they are available for consultation on any financial matter and are quick to find and implement the resolution

Shobit BhatnagarGradeup.co

VJM team is a thoroughly professional chartered accountants equipped with all resources and with deep understanding of GST and other contemporary arenas of corporate consultancy. Have interacted with them for various tax and corporate law related matters and found the interaction quite useful.

Pawan LadhaFreecharge

Know more about our complete portfolio of GST Services.

GST Audit

Professional GST audit needs a strong mechanism and digital environment through the examination of the records to ensure full compliance of tax rules. At VJM & Associates LLP, we offer error-free GST audit services after thoroughly checking the important audit check-points.

Refund under GST

Interested in filling for GST refunds? Contact us to identify that you are eligible for a GST refund. We will help you file your claim through online GST Refund Form RFD-01 or from customs department via IGST route. Don’t miss the timeline. Claim it through us within the relevant date.

GST Advisiory

Our GST advisory services focus on the applicability of taxes on various transactions conducted or proposed to be undertaken and the overall tax performances of our clients, creating value and greater opportunities for developing a more strategic approach to tax.

Representation under GST

Your search for expert in GST for the representation under GST comes to an end as soon as you reach VJM & Associates LLP. We have years of experience and exposure for representation to authorities at various levels. We have expertise in solving various issues related to a dispute between tax authorities and supplier under the GST.

GST Outsourcing

If you are looking for a trustworthy partner or a reliable vendor for outsourcing your GST tasks, we will be the right fit for you. We keep a world-class pool of professional GST consultants to provide you with a complete solution, covering almost all areas of GST, bookkeeping and accounting tasks, GST returns etc.

Accounting & Reporting

We are the market leaders to deliver a higher-quality accounting and reporting solution to our clients more quickly and efficiently in an environment of technological change, digital demonstration, could computing, online bookkeeping and GST filing, and increased regulatory changes and scrutinizes.

Why Choose Us

Client Centric Approach

Client is the key driver of our service offerings. Our approach to service offerings is based on a client centric and customized approach. Our specialized teams are a mix of technical and industry experience in order to serve clientele for their specific needs.

Quick Turnaround

We always endeavour for a quick turnaround time to serve our clientele. We are supported by an experienced and client focussed support teams to offer timely services to our clientele. In case of any business exigencies and time sensitive service requirements, you can always count on us.

Team Work

We have built high performing teams supported by strong work ethic. Our team is a mix of experts, professionals and support staff from technical and varied academic, cultural, social and ethnic backgrounds. We believe that this diversification plays a vital role in motivating the team into High Performing Teams.

Open Communications

We believe that open communication is the core principle in order to demonstrate trust, build long lasting and valuable relationships with clientele. We are committed to ensuring transparency in communication, service offerings and delivery.

Driving quality in delivery

Our service offerings are driven by quality and reviews at every level. We strive to provide a qualitative and value-added delivery to our clientele. At all times, we endeavour to provide exceptional client service by meeting client expectations and driving client satisfaction.

Blogs on Goods and Service Tax

Streamlining filing of appeal by Department before ITAT, High Court and Supreme Court| Circular No. 5/2024 dated 15th March, 2024

Appeal against order of any authority can be filed by the party aggrieved by the order, i.e., the Assessee or the Department. Filing of appeal involves lots of cost and effort and also takes up the time of the judicial authority. Assessee files appeal after considering various factors such as amount of pre-deposit required, amount involved in dispute, time factor etc. However, for department appeal the CBDT specifies a monetary limit, i.e., upto specified monetary limit, no appeal shall be filed by the department.

GST Check-list you need to tick as stepping in new Financial Year

As we are stepping into the new Financial year, there are various compliance requirements which a taxpayer is required to do with the changing year. Any non-compliance on part of the taxpayer can lead to major disallowances or withdrawal of benefits from the taxpayer.
This article list down check-list which a taxpayer is required to tick as they enter into new financial year:

Cross-empowerment is without jurisdiction in absence of any notification under GST Law

The Writ petition was filed to challenge the proceedings initiated against the taxpayer by the central authorities where the taxpayer is assigned to the State authorities and vice versa. The Petitioner contended that power of cross-empowerment was given under Model GST Law. However, GST Law enacted is different from the Model GST Law.

Supply to goods for Job Work, have you filed your ITC-04

Job work is an indispensable part of the business and most of the manufacturing entities are required to get their work done from the job worker on a regular basis. However, whether it is Central Excise, Service tax or Goods and Service Tax, special provisions are always provided under the law for goods sent on job work basis.

Demand order in Form GST DRC-07 is not sustainable when order is issued in Form GST ASMT-12

Since commencement of Assessments under GST, there are many practical issues which are being faced by the Assessee. One of the common issues is issuance of GST ASMT-10 and DRC-01 for the same matter. There are many instances wherein a proper officer issues the GST ASMT-10 and assessee obtains the GST ASMT-12 by filing proper reply. GST authority still issues show cause notice in Form GST DRC-01 and in some cases issues the demand order as well. In this matter, a major relief is granted by Hon’ble High Court of Madra in the matter of Radiant Cash Management Services Ltd., Vs. The Assistant Commissioner (ST) (W.P.No .2981 of 2024 and W.M.P.Nos.3246 & 3247 of 2024).

ITC is ineligible in relation to construction work of immovable property which is further let out

The Company constructed a warehouse and let it out. The Company paid the GST on such outward supply. The Company sought an advance ruling from WBAAR that whether the company is entitled to claim ITC on inward supplies received for construction of such warehouse. The Hon’ble WBAAR held that the restriction given under Section 17(5)(d) of CGST Act in respect of ITC on goods or services used for construction of warehouse is applicable in the instant case, i.e., the Company is not eligible for ITC with respect to inward supplies to the extent such expenditure is capitalised. However, where construction expenses are not capitalized in books, the claim of ITC is admissible.