Indirect Tax

Management and compliance Services

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We at CompanyWale Consultancy, offer a comprehensive blend of tax advisory, tax litigation, regulatory and compliance services, helping you navigate through complex business matters. CompanyWale Consultancy have in Dept. knowledge for GST related matters and strong team for execution of GST Compliances

Goods and Service Tax Act

"Good and Service Tax is the largest Indirect tax reform in India which have impacted the way business is carried out at pan India level. It has replace almost all the existing Indirect tax or levies like Excise Duty, Service Tax , VAT, Entry Tax etc. It’s impact vary's across the different kind of businesses.

We, as a GST CONSULTANTS prepare assesses for smooth working of GST Structure in an organization, . Our GST consultancy makes an assesses GST compliant."

What is Goods And Service Tax

GST is an Indirect Tax which has replaced many Indirect Taxes in India. The Goods and Service Tax Act was passed in the Parliament on 29th March 2017. The Act came into effect on 1st July 2017; Goods & Services Tax Law in India is a comprehensive, multi-stage, destination-based tax that is levied on every value addition. In simple words, Goods and Service Tax (GST) is an indirect tax levied on the supply of goods and services. This law has replaced many indirect tax laws that previously existed in India. GST is one indirect tax for the entire country.

When GST Registration is Compulsory

The registration under GST is mandatory for the business entities based on the criteria of turnover or activities. The business dealing in goods and those providing service have to mandatorily apply for GST Registration if their aggregate turnover for a financial year exceeds Rs.40 Lakhs and Rs.20 Lakhs respectively. However, for business making supplies and providing services in the North Eastern States, the same is Rs. 20 lakhs and Rs. 10 lakhs respectively. Owing to its benefits, many dealers also obtain voluntary registration under GST.

What are the components of GST?

There are 3 taxes applicable under this system: CGST, SGST & IGST.

CGST: Collected by the Central Government on an intra-state sale (Eg: transaction happening within the State)
SGST: Collected by the State Government on an intra-state sale (Eg: transaction happening within the state)
IGST: Collected by the Central Government for inter-state sale (Eg: Transaction within Different States)"

We are determined and focused to provide the following services and make people GST complaint

GST Audits

As per GST Act, every taxable person if satisfy the criteria required for GST audit have to get its Audit done by Chartered Accountant, and we at CompanyWale Consultancy, developed the strong team for GST audits and handling critical issues in GST Audit.

Types of GST Audit
Types Performed By When Initiated
Turnover based Audit Chartered Accountant or Cost Accountant appointed by the taxpayer If the Turnover exceeds 2 crores the taxpayer has to get his accounts & records audited
Normal audit/General Audit Commissioner of CGST/SGST or any Officer authorized by him On order of Commissioner by giving 15 days prior notice
Special audit A Chartered Accountant or Cost Accountant, nominated by Commissioner On order of Deputy/Assistant Commissioner with prior approval of Commissioner

Turnover-based Audit under Section 35(5) of CGST Act

If the annual turnover of a registered taxpayer is more than Rs. 2 crores in a financial year , he is required to get his accounts audited by a Chartered Accountant or Cost Accountant every year.

Aggregate turnover is calculated as follows:

Aggregate turnover = Value of all taxable (inter-state and intra-state) supplies + exempt supplies + export supplies of all goods and services

GST Forms
Forms for Annual return and GST Audit:
Whether or not applicable to GST AuditApplicable for GST Audit
A Regular taxpayer filing GSTR 1 and GSTR 3B GSTR-9
A Taxpayer under Composition Scheme GSTR-9A
E-commerce operator GSTR-9B
Taxpayers whose turnover exceeds Rs. 2 crores in FY GSTR-9C


  • Who should file GST Return?

    Under GST, every person or entity registered under GST would be required to file a GST return for the prescribed period. Even those entities having a GST registration but no activity would be required to file a GST Nil Return to stay compliant with GST regulations.

  • There would be no procedure or revision of a GST Return. All unreported invoices of the previous tax period must be included in the return for the current month and interest, if any would be applicable.

  • Under GST Regime Returns need to be filed every month . However in case of Composition dealers it has to be filed every quarter.

  • In case the taxpayer fails to file the GST returns within the specified date provided by the GST department, then taxpayer has to pay late fee along with interest @18%. The late fee will be Rs.20 per day if it is NIL return or else Rs 50 will be levied if you fail to furnish the return within specified date. Thus, it will come around Rs.25 under the CGST and again Rs.25 under the SGST. The total amount to be paid will be Rs.50 per day. The maximum late fee can be Rs.5000. The IGST do not charge any late fees.

  • Yes, We also Provide GST Audit and Assessment Services as and when required


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