GST is a destination-based tax on consumption of goods and services wherein dealer with a turnover of Rs.20 lacs (Rs.10 lacs for NE states) and above will need to register to “GST is a destination-based tax on consumption of goods and services wherein dealer exceeding specified Turnover will need to register.”
As India is following dual GST model wherein both Centre and States simultaneously will levy it on a common tax base.
The GST to be levied by the Centre on intra-State supply of goods and / or services would be called the Central GST (CGST)
The GST to be levied by the States would be called the State GST (SGST).
Also, Integrated GST (IGST) will be levied and administered by Centre on every inter-state supply of goods and services.
At PPC we provide GST Solutions services for effective implementation of GST within any Organization.
There will be numerous updates and developments with the new tax regime, and it will be important to stay abreast of these new developments to ensure your business remains GST optimized and GST compliant.
We provide a broad range GST service offerings to manage and mitigate GST risk.
GST Implementation
GST implementation is just the first step in being GST compliant.
With extensive experience working on Existing Indirect tax maters like Customs, Excise, Service Tax, Sales Tax and VAT. We at PPC aim to identify risk areas, which have not been adequately addressed earlier.
Correct Implementation of GST is vital for successful implementation of GST
Our service includes:
- Identification of the compliance areas which are relevant to business
- The implication of GST on existing agreements and new agreements and contracts
- Whether provisions of GST adequately captured in contracts.
In House GST Workshops
GST is a complex and inescapable tax that may impact every part of the business. A good understanding of the tax is required in all departments of any company. It is important that all staffs are aware of GST rules relating to respective business and industry to avoid potential errors in GST reporting.
As GST in India will continue to evolve, understanding and applying the new laws significantly increases the risks of non-compliance for businesses.
Our service includes:
- Provide members with an understanding of GST rules
- Enable you to identify and deal with major GST issues
- Gain an understanding of GST charge ability and rate
- Equipping with the knowledge on Input Tax Credit
- About the common GST errors and issues
- Enable you to identify the changes required for business operations to comply with the GST law
GST compliance
Our Services Includes:
- GST returns preparation
- GST returns reviews
- GST impact on accounting reports
GST Impact Assessment Studies
As GST is major tax reform and will have a far-reaching impact on businesses, we undertake GST Impact Assessment Studies on business and Industries to make it easy for our clients.
Since existing staff will lack GST impact due to Non-Exposure, we can help clients formulate business strategies with the help of our In house GST experts.