Indirect Taxation
GST will simplify and harmonize the indirect tax regime in the country. It is expected to reduce the cost of production and inflation in the economy, thereby making the Indian trade and industry more competitive, domestically as well as internationally. However, it also introduces significantly higher compliance requirements in the form of multiple returns every month, multiple tax payments every month, and constant reconciliation of tax credits being claimed by each entity.
Indirect taxation
G R Prasad & Associates is the, one who understands this dynamic GST system and day-to-day changes in applicable sector-wise and p their clients to adopt the same.
G R Prasad & Associates provide the following indirect tax services to our clients:
1. GST – Advisory & Consultation
- Tax & Credit Optimisation
- Tax Compliant advice for Star-ups & E-Commerce
- Opinions and Clarifications.
- Support for understanding and working under GST Regime.
- Evaluate tax implications on existing or proposed business transactions
2. GST Compliance:
- Obtaining registrations under GST
- Computation of monthly/Quarterly Payments of Taxes/Duties
- Return Verification/ Filling of Returns periodically.
- Compliance with Procedural Aspects
- Verification of input tax credit records and identification of ineligible credits & Reconciliation of GSTR 2A/2B with BOA
- Review of periodic computation of tax liabilities.
- GST Review and Audit and Filing of Annual Returns.
- Filing of Refund Claims of GST
3. GST Litigation
- Assistance in drafting responses to notices/ SCN, inquiries, and such other communication received from revenue/assessing authorities.
- Assistance in preparation and filing of appeals against orders received from appellate authorities.
- Representation before the appropriate authorities.
- Other Related Services.