Shammi Garg & Co. Chartered Accountants

GST Compliance

W.e.f. 1st July 2017, Government of India has introduced a new law in the name of Goods and Services Tax (“GST”), in place of existing laws under Indirect Taxes. Earlier law related to Service Tax, Excise, Value Added tax (VAT) etc. are subsumed in this new law.

We introduce ourselves as team of professionals providing wide range of services under a single roof related to Accounting, Taxation, Finance, Banking, ROC, & Other Regulatory Compliance services to Small & Medium Scale Enterprises (SME) Sector, Start-ups Companies, and Other Business Entities including Individuals/HUF’s/ Partnership Firms/LLP/Trusts/Etc.

We propose to do comprehensive compliance under GST as follows:

Registration

At the outset We will take appropriate registration under relevant category (Regular, Composition, Input Service Provider, E-Commerce etc.) under GST based on the understanding of business.

Regular Compliance:

Our scope of work would include:

Detailed discussion with the Business team of ENTITY to understand the implication of GST on the Services/ Goods provided /received by ENTITY;
Providing Various Formats & HSN Codes relating to Invoicing relating to Sales of Goods / Services, Challans relating to transfer of goods for job work, Reverse Charge Invoicing etc
Comprehensive review of Accounts of ENTITY on monthly basis for the purpose of overall review of compliance of GST at Financial Statement level;
Comprehensive review of Accounts of ENTITY at transaction level on the basis of materiality for the purpose of overall review of compliance of GST at transaction level;
Calculation and finalization of monthly GST liability based on books of account for the purpose of payment of the same on monthly basis;
Calculation and finalization of Eligible Input Tax Credit (ITC) on monthly basis in terms of the provisions of GST;
Filing of monthly GST returns in Form GSTR-3B, GSTR-1, GSTR-2 & GSTR-3;
Consultancy with respect to documentation to be maintained in terms of provisions related to GST;
Providing consultancy to the staff of ENTITY with respect to issued related to GST and providing periodic updates/ developments relating to GST Laws and its implication to ENTITY.

Based on our Scope of work as mentioned above, our professional charges would be based on No. of Transactions (Sales / Purchase etc.) that will be mutually agreed based on discussion