GST Outsourcing Services

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.

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:

Export of services and goods
Supplies to SEZ units
Deemed Export supplies
Refund of taxes on purchase made by the UN, embassies, etc
Refund arising on account of the decree, order, judgment, etc by the Appellate Authority, Appellate Tribunal, or any other court
Refund of accumulated Input Tax Credit
Finalization of Provisional Assessment
Refund of Pre deposit
Excess Payment due to mistake
Refund to International tourists of GST paid on purchases in India at the time of their departure
Refund on account of issuance of refund vouchers for taxes paid on advances against which services and goods are not supplied
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 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

Frequently Asked Questions on GST

What are the 3 types of 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

Who is eligible for GST in India?

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

How is GST calculated?

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

Is GST charged on EMI?

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

Where is GST applied?

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

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

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

Proceedings can’t be initiated under Section 74 when tax liability is already discharged along with interest

The petitioner is engaged in the business of generation of electricity through solar plants. The GST returns filed by the petitioner for the period of July, 2017 to March, 2019 were subject to audit. The petitioner was informed about tax liability during audit proceedings on account of wrong availment of ITC and ITC availed with respect to exempted supply. Upon receipt of initial audit observation, the petitioner discharged the entire tax liability alongwith interest. The final audit report was issued much after payment of GST liability. Post audit, the respondent issued show cause notice to the petitioner under Section 74 of CGST Act and confirmed the demand through DRC-07. The petitioner contended that it falls under purview of Section 73(1) and 73(5) of CGST Act and therefore, SCN under section 74 is not sustainable. Whereas, the respondent contended that this is the case of fraud and willful misstatement.

CBIC issued guidelines to be followed by CGST field officers while investigating to maintain ease of business

Investigations, summon, letters from GST Authority has become common in business from last sometime and there are many practical issues which comes alongwith these communication. GST investigations are at many times hampering regular business activities as well. Further, there are many practical issues being faced by the GST Authorities as well as taxpayer such as prior approval, simultaanoues investigation by more than one GST authority, uncessary information asked etc.

Instructions regarding rectification of assessment orders under GST| Department of Trade and Taxes, Delhi

GST Assessments, u/s 73, are already closed for FY 2017-18 and the due date of issuance of order for FY 2018-19 is 30th April, 2024. In many of the Assessment orders, the taxpayers have faced genuine hardship such as as the Assessment orders passed are not the speaking one or assessment orders contain clerical mistakes causing unnecessary increase in demand amount.

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.

GST Outsourcing Services

Work Done Under GST Outsourcing​

Work Done Under GST Outsourcing