GST Outsourcing

The Government of India since the launch of GST has been a predominant area in the business world. It has become vital for every business organization to comply with the law right from billing to filing the returns.

This GST era is beneficial to curb the tax evasion, yet it has increased the complexities, demand for large data, and compliances. Thus it is always a wise decision to outsource GST work

GST outsourcing implies services by experts at VJM & Associates with regard to all the intricacies of GST. You focus on the core business and leave all the statutory compliances on us and trust about timely compliances.

Work Done Under GST Outsourcing​

GST Registration

GST registration is an online procedure to register the business houses for taxation and returns.

GST Refund

GST refund is claimed under circumstances like excess GST paid than expected, a refund of ITC of duty tax, goods, services are exported, and others.

GST Impact Analysis & Treatment

GST can have a positive or negative impact on the business depending upon the industry people are in. Therefore, it is important to check the GST impact, analysis, and treatment before establishing a business.

Untitled design 13

GST Audit

GST audit, refers to the thorough examination of the GST records, refunds, ITC claimed, and reviewing other entries done by the taxpayers and the companies.

GST Advisory

A complete study of the company’s GST taxation and returns, along with the study of the government’s policy to strategize the best GST filing options and returns filing is called GST Advisory.

Representation & Assessments

Before commencing any new venture, assessing GST is critical. GST assessment and representation refers to computing and estimating the tax one will owe each month.

GST Registration

In the GST regime, every business whose taxable turnover exceeds the threshold limit as prescribed by the Government of India time to time has to register as a normal taxable entity. This process is termed as GST registration.

For some business organizations even if the taxable turnover does not exceed the GST registration is compulsory. If the GST registration is not done then it is taken as an offense under GST laws and also heavy penalties are levied for not doing so.

So to avoid the levy of penalties and comply with the GST law VJM & associates provide the following services for GST registration:

  • Applying for GST Registration
  • Acquiring GST identification Number
  • A dedicated associate to answer to all the queries

GST registration normally takes two to six days for the total process. And all this process can be done online. We also provide you with the list of documents to be kept ready beforehand to avoid last-minute hassle.

GST Audit

Every registered entity if crosses the taxable limit as prescribed by the Government of India from time to time, then they have to get their GST Audit done by a Chartered Accountant or Cost Accountant as per section 35 (5) of the GST Act

This includes filing of annual return and reconciliation statement in Form 9 and 9B as required by section 44 (2) within the due date as prescribed. The due date is normally 31st December after the closing of the said Financial year.

  • VJM & Associates have a dedicated team of experts for the preparation of these forms and reconciling the GST data with the financial accounts.
  • Based on the nature of your business we also recommend internal controls for data entry, data analysis, data recording, and upkeep of data so as to form the basis of compliances

GST Refund

An excess amount of GST paid is more than the GST liability, you can claim the refund on the GST portal by filing an application. A standardized process for claiming the GST refund is set by CBIC. The various reasons on account of which GST refund arises as specified by the law are as follows:

  1. Export of services and goods
  2. Supplies to SEZ units
  3. Deemed Export supplies
  4. Refund of taxes on purchase made by the UN, embassies, etc
  5. Refund arising on account of the decree, order, judgment, etc by the Appellate Authority, Appellate Tribunal, or any other court
  6. Refund of accumulated Input Tax Credit
  7. Finalization of Provisional Assessment
  8. Refund of Pre deposit
  9. Excess Payment due to mistake
  10. Refund to International tourists of GST paid on purchases in India at the time of their departure
  11. Refund on account of issuance of refund vouchers for taxes paid on advances against which services and goods are not supplied
  12. Refund of GST paid by treating the supply as intrastate supply which is subsequently held as interstate supply and vice versa

There is a standard process set by the CBIC for claiming a refund. But you need not worry about it. We at VJM & associates assist you for claiming the refund:

  • A comprehensive checklist for collecting all the relevant data is sought from the client
  • Reconciling the data with the GST records
  • Verifying all the documents
  • Filing an application in the relevant form with the GST authorities within the stipulated time
  • Regular follow up with the GST authorities for the refund receipt

GST Advisory

GST Advisory assists the organization to make the complex and huge GST law simple and easy to handle. The overall performance of the business with regards to Tax is enhanced and complied within time. A strategy is created for classification, valuation, export benefits, refunds, input tax credit, stock transfers, etc and the organization is assisted to implement it.

We understand that your prime focus should be on business management and increasing wealth. So we provide the following services:

  • Evaluating and analyzing key parameters such as tax rates, input credits, time and place supply policies, etc and its effect on business and product pricing
  • Advising for reorienting business operations for tax efficiency
  • Monitoring the anti-profit implications under the GST law
  • Impact of GST transition and assistance in implementing internal controls for the same
  • Advisory for IT functions
  • We also provide training to your employees if required
GST Consultant
GST Representation Services​

GST Impact Analysis & Treatment

The transition to GST from various other tax laws such as excise, service tax, customs, etc is been a complicated process. Also even now the GST laws are in the process of updating and amendments and transition. The changing behavior of GST laws does have a great impact on the business and its treatment sometimes becomes very rigid and tedious.

We provide perfect planning for implementing the changes.

    • Analysis of the impact of changes and its treatment thereon
    • Guidance and training for implementing the changes in business
    • Compliance of all the rules, guidance notes, laws, notifications, etc
    • We provide customized services for all the clients separately

Representation & Assessments

Differences in interpretations lead to litigations. GST is a no different law. It is bound to have misinterpretations and disagreement. And appeals and notices are bound to arise to serve.

So VJM & Associates provide you with all the following services ethically to keep you relaxed:

  • Replying to Departments objections towards tax returns or audit
  • Replying the show cause notices systematically
  • Filing the appeals and representations with the tribunal, High court, or Supreme court
  • Advance Ruling applications
  • Representations before GST council, Tax Bodies or the Government
  • Handling any kind of litigations with any of the Indirect Tax bodies
  • Application for settlement commission with CBEC
GST Impact analysis and treatment​

Frequently Asked Questions on GST

Three types of GST bifurcated to differentiate between inter and intra-state supplies are:

  • Central Goods and Service Tax
  • State Goods and Service Tax
  • Integrated Goods and Service Tax

All the business supplying goods and services above the threshold limit are required to register as a taxable person under the GST laws

GST can be calculated by following the simple steps:

  • Determine SAC or HSN code
  • Find the applicability of CGST, SGST or IGST
  • Assess reverse charge service
  • Look for the type of transaction that is performed
  • Applicability of GST composition scheme

GST is leviable on interest and processing fees of EMI. A rate of 18% is also levied on all the fees and charges by the bank

GST works on the Destination principle. It is applied where the goods and services are consumed at the final stage. In the supply chain, GST is collected on the value addition basis at every stage of purchase and sale.

What people say about us

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 GST

Taxability of Personal Guarantee and Corporate Guarantee under GST| Clarified by CBIC

Taxability of Personal Guarantee and Corporate Guarantee under GST| Clarified by CBIC

Providing guarantee is a very common part of business finance wherein one person provides guarantee to the bank or financier on behalf of the other person for securing loan or credit facility. In some cases, commission is paid as a consideration for providing guarantee. CBIC has received various representations with respect to applicability of GST on personal guarantee provided by Director to the bank for granting credit facility to the company or corporate guarantee provided by the company on behalf of its sister concern or subsidiary company.

Read More »
Detailed analysis of 52nd GST Council Meeting 

Detailed analysis of 52nd GST Council Meeting 

GST Council met for 52nd time on 7th October, 2023 under the chairmanship of Hon’ble Finance and Corporate affair minister. GST Council discussed various aspects such as Amnesty Scheme for filing of GST Appeal, Clarification on applicability of GST on Guarantee services provided by director and company, changes in GST rates etc.

Read More »

V J M & Associates LLP

Contact Us