YKPA

Y. K. Purohit & Associates

Chartered Accountants

Indirect-Tax

Goods and Service Tax

Our Services:

  • GST Registration:
    We assist businesses in obtaining GST registration, ensuring compliance with the registration requirements specified under the GST regime.

  • Monthly GST Returns Filing:
    Our team efficiently manages the filing of monthly GST returns, ensuring accurate and timely submission of returns to avoid penalties.

  • Final Return and Annual Returns Filing:
    We handle the filing of final returns and annual returns as per the requirements of the CGST Act, facilitating compliance with statutory obligations.

  • Letters of Undertaking (LUT) Filing:
    For eligible businesses engaged in export activities, we assist in filing Letters of Undertaking (LUT) to avail the benefit of export transactions without payment of Integrated Goods and Services Tax (IGST).

  • Filing of Other Forms and Declarations:
    Our experts ensure the filing of all other necessary forms and declarations mandated under the GST law on the GST common portal, covering various compliance aspects comprehensively.

For every registered entity required to undergo audit under sub-section (5) of section 35 of the GST Act, compliance entails furnishing the annual return, along with audited accounts and a reconciliation statement certified by a chartered accountant in Form GSTR-9C.

In the initial phases of GST implementation, numerous errors might have occurred during return filings. Addressing these errors before filing the annual return and reconciliation statement in Form GSTR-9C is crucial.

Our dedicated GST Team comprehensively understands practical challenges, identifies common errors, and proposes resolutions prior to filing the annual return and reconciliation statement in Form GSTR-9C.

Our Services:

  • Filing and Preparation of Annual Return:
    We assist in the preparation and filing of the annual return, ensuring compliance with GST regulations and reporting requirements.

  • Preparation of Reconciliation Statement:
    Our team meticulously prepares reconciliation statements between books of accounts and the annual return in accordance with GST laws, facilitating accurate reporting.

  • Auditing of Books of Accounts:
    We conduct thorough audits of books of accounts in compliance with relevant legal provisions and GST regulations.

  • Certification of Reconciliation Statement:
    Our chartered accountants certify reconciliation statements in accordance with applicable laws and regulations, ensuring accuracy and compliance.

  • Filing of Reconciliation Statement:
    We handle the filing of reconciliation statements in Form GSTR-9C on the GST common portal, streamlining the compliance process.

Possible Resolutions for Errors:
Our team identifies errors in GST returns and proposes resolutions to rectify them, ensuring compliance and minimizing the risk of penalties.

Legal Framework:

According to section 116(1) of the GST Act, 2017, individuals involved in proceedings under the Act may appoint an authorized representative to appear before GST officers, Appellate Authorities, or the Appellate Tribunal, subject to certain provisions.

Section 116(2) outlines who can be appointed as an authorized representative:

  1. A relative or regular employee.
  2. An advocate entitled to practice in any Indian court, without any disbarment.
  3. A chartered accountant, cost accountant, or company secretary holding a valid practice certificate, without any disbarment.
  4. A retired officer of the Commercial Tax Department (state government or union territory) or the board, having served in a Group-B gazette officer rank for at least two years. However, they cannot represent proceedings under the Act for one year after retirement or resignation.
  5. A goods and services tax practitioner authorized by the registered person.

Services Offered:

  • Representation before GST Authority:
    We provide representation before GST authorities concerning assessments, search and seizure operations, summons, and other notices.

  • Representation before Appellate Authority (Appeals):
    Our team represents clients in appeals against orders issued by GST officers before the Appellate Authority, ensuring their interests are effectively advocated.

  • Representation before Appellate Authority (Revisions):
    We also handle revision requests against orders issued by GST officers before the Appellate Authority, ensuring thorough representation and legal support.

Encouraging foreign trade, the Indian government, both at the center and state levels, facilitates refunds of GST paid on exports of goods and services under the GST regime. We conduct comprehensive cost-benefit analyses, considering all intricacies, to suggest optimal refund routes.

Refund Claim Process:

  1. Filing Online Refund Application:
    We assist in filing online refund applications, ensuring accuracy and compliance with GST regulations.

  2. Documentation System Enhancement:
    We suggest systems for generating necessary documentation for refund claims and improve existing systems to streamline the process.

  3. Supporting Document Gathering:
    Our team helps gather all supporting documents required for the refund claim, ensuring completeness and accuracy.

  4. Preparation of Necessary Documentation:
    We prepare necessary pre-documentation, such as annexure-A as required by law, to support the refund claim.

  5. ITC Reconciliation:
    We reconcile Input Tax Credit (ITC) claimed with ITC reflecting in GSTR-2A, identifying any missed credits and rectifying discrepancies.

  6. Follow-up with Authorities:
    We continuously follow up with the authorities to ensure timely processing and grant of refund claims.

GST Advisory & Opinions

Given that the GST Act excludes only a few transactions, every business transaction requires careful analysis from a GST perspective. We provide comprehensive advisory and opinions on various GST-related matters.

Services Offered:

  • Transaction Opinion:
    We offer opinions on transactions to be undertaken by clients, ensuring compliance and optimizing GST implications.

  • Mergers and Acquisitions Opinion:
    Our team provides opinions on mergers and acquisitions from a GST perspective, guiding clients through the process and optimizing tax implications.

  • Input Tax Credit (ITC) Utilization:
    We advise on the optimum and proper utilization of Input Tax Credit (ITC), ensuring maximum benefit and compliance with GST provisions.

  • Value-added Solutions:
    We provide value-added and optimal solutions to clients, addressing specific GST-related challenges and optimizing tax efficiency.

  • Adherence and Compliance:
    We ensure adherence to and compliance with applicable GST provisions, guiding clients to fulfill their obligations under the law.

  • Client-specific Issue Analysis:
    We analyze client-specific issues and implications under GST, providing tailored solutions to address their concerns.

  • GST Advice for Start-ups:
    We offer GST advice tailored for new start-ups, ensuring compliance and guiding them through the complexities of GST regulations.

An applicant seeking an advance ruling can submit an application to the authority, specifying the question for which the ruling is sought. Typically, applicants approach the authority for clarifications regarding the classification of goods or services, eligibility for input tax credit, registration requirements, and the tax implications of proposed transactions.

Services Provided:

  • Filing of Application:
    We assist applicants in preparing and filing their advance ruling applications, ensuring completeness and accuracy.

  • Documentation Preparation:
    Our team guides applicants in compiling the necessary documentation required for the advance ruling application.

  • Transaction Analysis:
    We analyze each transaction to determine whether seeking an advance ruling is advisable, providing guidance based on the specific circumstances.

  • Representation before Authority:
    We represent the applicant before the authority, presenting their case and arguments effectively to secure a favorable ruling.