Goods & Service Tax

Goods & Service Tax

We understand that operating in multiple jurisdictions brings opportunities to reduce costs and gain market share while the complicated laws, makes overseas expansion time consuming and costly. We have close relationships with our affiliates who have the technical expertise to help you navigate through the complex maze of tax laws worldwide as well as national laws such as the Goods and Services Tax, India.

GST Services Offered by GoldCoin Consultants

A) GST Registrations :

Our GST Registration services for clients begins by assessing and determining the status of a client’s requirement to register under GST. Our services include registration process including applying for the GST registration, identification of the goods and services being sold und GST, amending the details mentioned in the registration certificate in accordance with the relevant Rules of the GST laws, filing appeal for restoration and more.

  • Assessing the status of the client and determining whether client is liable for obtaining GST registration or not as per relevant provisions of the GST Laws.
  • Determining the eligibility of the client under composition scheme and advising him in deciding whether to register under composition scheme or under normal scheme. Opting for composition levy, withdrawing, and filing the intimation of the stock details on GST portal in accordance with GST laws.
  • Registering the client as a normal taxpayer, composition scheme taxpayer, casual taxable person, non-resident taxable person, input service distributor, tax deductor at source, tax collector at source etc. as per the status of the client in accordance with the GST laws.
  • Applying for Temporary User ID for the users unregistered under GST laws.
  • Applying for extension of registration period for persons registered as casual taxable person or non-resident taxable person.
  • Filing registration application for each place of business of the client under different states.
  • Assisting clients in submitting the documents required to be submitted for obtaining GST registration certificate.
  • Identification of the goods or services being sold or rendered by the client.
  • Identifying the relevant HSN and SAC codes as per the requirement.
  • Replying to any discrepancy arising in the process.
  • Obtaining client’s GSTIN and creating login credentials.
  • Amending the details mentioned in the registration certificate in accordance with the relevant Rules of the GST laws.
  • Assisting clients in resetting the email address and mobile number of their Authorized Signatory.
  • Applying for cancellation of registration as per the requirements of the client.
  • In case of the cancellation of registration, helping the client in applying for, and visiting GST Department, for revocation of cancellation of the registration as per the relevant provisions of GST laws.
  • Filing appeals for restoration of the cancelled registrations. Assisting the clients in complying with all the requirements provided under the provisions related to registration under GST laws.

B) GST compliance

We help clients in fulfilling all their compliances required under Goods and Services Tax (“GST”) laws. Compliances, inter-alia, include the following:-
  • Reviewing the accounting data of client and check for GST compliance as per the tax laws .
  • Assisting clients in the Classification of the transactions under the correct HSN/ SAC code for goods/ services.
  • Assessing potential impact of GST Laws on different business operations of the client. In other words, advising clients on the applicability of GST on various transactions undertaken or proposed to be undertaken.
  • Applying provisions related to place of supply in client’s transactions and determining the correct type of tax (CGST & SGST or IGST) to be paid on the basis of classification under inter-state or intra-state supply.
  • Determining the time of supply to eventually determining the tax period in which tax dues are required to be paid.
  • Preparation of tax invoices, bill of supply, credit notes, debit notes, etc. containing all the relevant details mentioned under the provisions of GST Rules.
  • Review of all invoices etc. where the client himself prepares them.
  • Identification of invoices available for input tax credit with respect to the relevant provisions.
  • Intimation for payment of taxes as per output liability of the clients. 
  • Monthly reconciliations.
  • Determining the inputs, input services and capital goods on which taxes have been paid and credit of which are eligible to be taken and determining the reversals of input tax credit availed as per GST laws.
  • Determining the applicability of reverse charge mechanism.
  • Regular updates to clients in relation to notifications or circulars issued under GST laws for GST compliance.
  • Refund of the unutilized input tax credit (‘ITC’): 
  • Discussing client in relation to the collection of relevant documents to be submitted for the claim of refund. 
  • Preparation and filing of online application along-with filing of relevant documents against which refund is to be claimed.
  • Following up with the department for the finalization of refund claims.
  • Analyzing the requirement of cross charge of expenses or common centralized services rendered, among multiple registrations taken by the client under same permanent account number.
  • On call advisory with respect to various queries and issues under the GST law.
  • Conducting Anti-profiteering study 
  • Analyzing the books of accounts and relevant notifications issued under GST laws to check the applicability of the provisions of anti-profiteering on the client. 
  • Assisting on any ongoing enquiry or investigation initiated. 
  • Preparing and filing of E-Way Bills for movement of goods.

C) GST return filing

  • We help clients in filing of their GST returns as well as for all periodic returns under other tax schemes. We services also include collecting relevant data, review of annual returns, certifying reconciliation statements, and keeping clients updated on GST amendments.

Know more about our GST compliance services.

  • Collecting the relevant data from client, analyzing and consolidating them. 
  • Preparing and filing of all periodic returns for taxpayers registered under normal scheme or composition scheme or registered as input service distributors (‘ISD’), casual taxable person, non-resident taxable person, input service distributor, tax deductor at source, tax collector at source etc. in accordance with the provisions of GST laws. 
  • Preparation and filing of periodic returns. For this purpose, we do following:- 
  • Consolidation of all periodic returns filed on the GST Portal.  
  • Reconciliation of outward supplies made during the year as taxable supplies, non-taxable/zero rated supplies/exempted supplies & transaction not leviable to GST. 
  • Review whether the company has correctly identified the transactions on which tax is liable to be paid under reverse charge mechanism (‘RCM’) and whether liability correctly and timely discharged under RCM. 
  • Assistance in the preparation or the review of reconciliation of GSTR 2A i.e. auto populated from supplier data and purchase data recorded by the receiver of supplies. Taking relevant actions as per Rule 36(4) of the CGST Rules for the input tax credit availment and utilization. 
  • Filing of Annual Return in Form GSTR-9 or in other relevant form as per the status of the taxpayer. 
  • Review of Annual Return in Form GSTR-9. For this purpose, we do following:- 
  • Review of the audited annual accounts including the accompanying notes to accounts (i.e. vouching of outward and inward invoices) of the company for the relevant period from GST perspective.
  • Certify the aforesaid Reconciliation Statement in Form GSTR-9C, electronically through the common portal and report for the deficiencies found during the audit.