Goods & Services Tax (GST)

The tax system of India is very large and subject to frequent changes. It becomes very difficult for companies to keep track and be aware of all relevant laws and by-laws in addition to all current business activities, even though violation carries financial penalties and criminal responsibility. We Baburaj & Co informed of the current changes and specifics of each industry sector to help companies and firms.

We Baburaj & Co, accommodate regulatory compliances and advisory on critical issues under Goods & Services Tax (GST) and other State and local body taxes. Experts believe that it will have a huge impact on businesses both big and small, and change the way the economy functions. Our devoted team under GST safeguards the following:

• GST implications on transactional issues
• GST Implication on cross border transactions
• Classification of Product and Services as per GST Regime
• Due Diligence of Corporates for ensuring the compliance of GST regime provisions.
• Routine Compliance support in terms of Registration, Return Filling, Refunds, Reconciliations, assessment etc.

Under Central GST the central government will levy and collect tax on goods and services on intrastate supply.

Under state GST, the state will levy and collect taxes on all transactions of goods and services within the state.

Under integrated goods and services tax, the central government will levy and collect the taxes on goods and services on inter- state supply. Here, the central government will share the collection witht the state concerned.

Every business has to be registered for the GST if the total value of goods and services is 9 lakh. The threshold for the payment of taxes is 10 lakh. However, under a certain conditions, the person has to pay taxes regardless of the total value of goods and services and tax threshold. The GST Expert Consultants In Delhi NCR will help businessman and businesswoman to understand the various aspects affecting their business and registration process. The existing taxpayers will be given provisional registration but they have to furnish more information as prescribed for final registration. Clients will also come to know the goods and services which are not covered under the GST.

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