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Borivali East, Mumbai, India
GST and Indirect Taxes
Simplify GST compliance and indirect tax management with expert GST services in Mumbai from VPRP & Co LLP.
Setting up GST for Your Business
Our expert GST advisors analyze the nature of your business, the goods or services you provide, and turnover thresholds for your GST registration.
This enables us to provide accurate GST registration guidance and assist businesses in obtaining a GST Identification Number (GSTIN).
GST Advisory
Our GST advisory services ensure your business abides by GST laws and files tax returns on time. Our GST advisory experts provide tailored guidance based on your contracts, agreements, invoices, and financial records.
GST Registration & Compliance Support
Advice on GST registration, amendment to registrations, positions, and other routine queries
GST Impact Assessment on Contracts & Invoices
Advice on GST implications based on a review of specific contracts, agreements, and invoices
GST Compliances
We ensure your business remains compliant with GST regulations through accurate filings, documentation, and timely compliance monitoring.
This helps us provide up-to-date GST registration consultations and help businesses obtain a GST Identification Number (GSTIN).
GST Returns and Audits
Our GST returns services include filing GST returns on sales and purchases accurately and on time. On the other hand, our GST audit services comprise checking the business's financial transactions in compliance with GST regulations.
Our detailed GST compliance, returns, and audit services involve:
Tax Calculation & GST Return Filing
Computation of tax payments and filing of GST returns
Input Tax Credit Reconciliation & Record Updates
Reconciliation of input tax credits as per the GST system and updation of company records
e-Way Bill Assistance & GST Audits
Assistance in queries related to e-Way bill generation and undertaking GST audits
GST Refunds
Businesses may claim GST refunds when input tax credits exceed output tax liability, subject to eligibility and regulatory approval.
Our offerings include:
End-to-End Refund Support & Regulatory Liaison
End-to-end support, including liaising with regulatory authorities to obtain refund orders
GST Litigation Services
Our GST litigation services aim to resolve your disputes. We represent your business in responding to GST notices and appeals, ensuring compliance and effective dispute resolution.
The other GST litigation services we offer are:
Drafting and filing applications seeking advance rulings
Get expert assistance in preparing and submitting advance ruling applications for tax clarity and compliance.
Representation services
Professional support in representing your business before tax authorities for smooth dispute resolution and compliance matters.
Litigation reviews
In-depth analysis of GST-related legal cases to ensure compliance, minimize risks, and strengthen your position in disputes.
FAQs
Frequently asked questions
Q1.Who needs to register for GST?
Businesses with an annual turnover above Rs. 40 lakhs (Rs. 10 lakhs for special category states) must register for GST. For service providers, the threshold is Rs. 20 lakhs. Voluntary registration is also allowed.
Q2.What is GSTR-1 and who should file it?
GSTR-1 is a monthly or quarterly return that contains details of all outward supplies (sales) made by a registered taxpayer. Every regular GST-registered business must file GSTR-1 by the 11th of the following month.
Q3.Can I claim GST input tax credit (ITC)?
Yes, if you are a registered GST taxpayer and have received goods/services with a valid tax invoice, you can claim ITC on the GST paid, provided the supplier has uploaded the invoice in their GSTR-1 and filed returns.
Q4.What happens if I don’t file my GST return on time?
Late filing of GST returns leads to a late fee of Rs. 50 per day (Rs. 20 for nil return), plus interest on any unpaid tax. Continuous default can also result in a suspended or cancelled GST registration.
