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GST Law Advisory Services 

Accubucks Solution provided GST legislation advising services with a focus on the client's total tax performance, resulting in more possibilities to assess and enhance efficiency, as well as establish a more strategic approach to dealing with tax rules.


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Our role in of GST Law Advisory Services - Benefites and features !

The concept of Goods and Services Tax (GST) was established by the Government of India on July 1, 2017. It is used to all business activities conducted in India. GST is India's largest indirect tax overhaul since independence. GST is a pan-India unitary tax on goods and services that is levied only on the 'value added' to goods and services at each stage of the economic supply chain. 

GST has not only altered the tax structure in India, but it is also likely to have a significant impact on all aspects of corporate operations in the country, including supply chain optimization, product and service pricing, information technology, accounting, and tax compliance systems. GST will have an impact on tax structure, tax incidence, tax computation, tax payment, compliance, credit use, and reporting, implying that the current indirect tax system will be completely overhauled.  

Accubucks Solution has been deeply involved in GST Advisory Services. We collaborate with business units to assist them develop policies that will benefit their operations. We offer a variety of GST advising services, including analyzing the impact of GST on clients' businesses, studying potential market scenarios of business models, legislative business level implementation help, transition management, and key compliance. 


The significance of GST Rates

The percentage rates of tax levied on the sale of goods or services under the CGST, SGST, and IGST Acts are referred to as GST rates. A GST-registered business must issue invoices with GST amounts charged on the value of supply.

The GST rates for CGST and SGST (for intra-state transactions) are nearly same. In contrast, the GST rate for IGST (for inter-state transactions) is roughly equal to the sum of the CGST and SGST rates. 

GST Rate Structure and Types of GST Rates in India

GST rates in India for various goods and services are divided into four slabs: 5% GST, 12% GST, 18% GST, and 28% GST. 

The primary GST slabs for normal taxpayers are currently 0% (nil-rated), 5%, 12%, 18%, and 28%. There are a few GST rates that are less commonly utilized, such as 3% and 0.25%.

Furthermore, the composition taxable people are required to pay GST at lesser or nominal rates such as 1.5%, 5%, or 6% on their turnover. TDS and TCS are also concepts under GST, with rates of 2% and 1%, respectively.

These are the total IGST rates for interstate supplies or the sum of CGST and SGST for intrastate supplies. To calculate the GST amounts on a tax invoice, multiply the GST rates by the assessable value of the supply.

Furthermore, in addition to the above GST rates, the GST law imposes a cess on the sale of certain commodities such as cigarettes, tobacco, aerated water, gasoline, and motor vehicles, with rates ranging from 1% to 204%.

Eligibility for GST Registration:

  • Individuals who are registered under Pre-GST legislation (e.g., Excise, VAT, Service Tax, etc.)

  • Businesses with a turnover of more than Rs.40 lakh, Rs.20 lakh, or Rs.10 lakh, as the case may be

  • Non-resident taxable person / Casual taxable person

  • Supplier's agents and input service distributors

  • Those who pay taxes through the reverse charge system

  • A vendor who sells through an e-commerce aggregator.

  • Each and every e-commerce aggregator

  • A person who provides online information and database access or retrieval services to a person in India who is not a registered taxable person.


Documents Required for GST registration services:

  • PAN of the Applicant

  • Aadhaar card

  • Proof of business registration or Incorporation certificate

  • Identity and Address proof of Promoters/Director with Photographs

  • Address proof of the place of business

  • Bank Account statement/Cancelled cheque

  • Digital Signature

  • Letter of Authorization/Board Resolution for Authorized Signatory

GST Law Advisory Services- Get the best advise with our GST expert:

Our professional GST experts provide a bunch of quality services with best indutries prices, contact us we will the start and will assist you with obtaining the GST law advisory services online  in a quick and easy manner.  

  • Advice on realigning operations to maximize tax efficiency 

  • Advise on realigning the operations to ensure tax efficiency

  • Advise on implications under the anti-profiteering provisions under the GST laws 

  • Ensuring steps for smooth GST Transition

  • IT Functional Advisory

  • Customised GST Trainings & Solutions

Evaluating the fiscal impact of GST on business and product pricing using important characteristics such as: 

  • Tax rate modifications

  • Changes in supply rules for goods or services or both Evaluating the impact on outward supplies including goods and services

  • GST valuation mechanism, including free-of-cost supplies, stock transfers, discounts, incidental supplies, and supply to related parties.

  • Analyzing the position on the availability of input tax credits - credit restrictions or additional tax credits on procurements of goods and services; and, assessing the impact of GST on the Company's operations, select products, and working capital based on the above factors.  


FAQs on GST Law Advisory Services

Question: What is GSTIN?
Answer: All businesses that successfully register for GST are granted a one-of-a-kind Goods and Services Tax Identification Number, or GSTIN.

Question: Is GST mandatory for interstate purchase?

Answer: Section 24 of the CGST Act states that anyone conducting interstate supplies must register, regardless of the Rs 20 lakh threshold limit for GST registration. If an unregistered individual wishes to make an inter-state purchase, the seller must be GST registered. 

Question: Can a proprietor have two firms under GST?

Answer: As a sole proprietor, all income will be combined for Income Tax reasons and to determine the GST turnover limitations. If two businesses operate under different trade names, such as A Marbles and A General Stores, you must register for separate GST numbers.   

Question: Why is there on GST on petrol?

Answer: Petrol and diesel will not be subject to the Goods and Services Tax (GST) in the near future because neither the Central Government nor any of the states are in favour due to concerns about revenue loss. 

Question: Is GST part of MRP?

Answer: Maximum Retail Price (MRP), as the name suggests, is the highest price a seller can charge a buyer. MRP includes all taxes, including GST. It should be remembered that retailers cannot charge GST in excess of the MRP. The MRP displayed on the goods already includes GST

Question: Can we have two trade names with the same GST number?

Answer: Yes, you can use a single GSTIN to register two different firms with different trade names. When registering for GST registration, make sure to include all of the trade names. 

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