GST Solutions for Indian Businesses
Goods and Services Tax (GST) is India's comprehensive indirect tax system that has transformed the taxation landscape. Sompalli & Co provides end-to-end GST services to help businesses navigate the complexities of GST compliance effortlessly.
Why GST Compliance Matters
Proper GST compliance is not just a regulatory requirement but a critical business practice that significantly impacts your financial operations and growth:
Legal Compliance
Avoid penalties, interest, and legal complications by maintaining proper GST compliance.
Input Tax Credit Optimization
Maximize eligible input tax credits to reduce your overall tax burden and improve cash flow.
Business Credibility
Enhance your business reputation with suppliers, customers, and financial institutions through proper tax compliance.
Our Complete GST Services
From registration to advanced compliance management, we provide end-to-end GST solutions tailored to your business needs.
GST Registration Services
New GST Registration
Complete assistance with new GST registration for all types of businesses, including proprietorship, partnership, LLP, and companies.
- Eligibility assessment
- Document preparation
- Application filing & follow-up
Registration Amendments
Assistance with modifications to existing GST registrations for changes in business details or structure.
- Business address changes
- Partner/director modifications
- Additional place of business
Registration Cancellation
Professional assistance for GST registration cancellation or surrender with proper compliance closure.
- Eligibility assessment
- Filing final returns
- Application processing
GST Returns Filing
Monthly/Quarterly Returns
Timely and accurate filing of regular GST returns for businesses of all sizes.
- GSTR-1 (Outward supplies)
- GSTR-3B (Summary return)
- GSTR-4 (Composition scheme)
Annual Returns
Comprehensive preparation and filing of annual GST returns with detailed reconciliations.
- GSTR-9 (Annual return)
- GSTR-9A (Composition dealers)
- GSTR-9C (Reconciliation statement)
Special Returns
Specialized GST returns filing services for specific business requirements.
- GSTR-5 (Non-resident taxable person)
- GSTR-6 (Input service distributor)
- GSTR-7 (TDS returns)
GST Reconciliation & Compliance
Advanced Reconciliation
Comprehensive reconciliation services to ensure accuracy and compliance with GST regulations.
- GSTR-1 vs. Books reconciliation
- GSTR-2A/2B vs. Books reconciliation
- Input tax credit optimization
E-way Bill Compliance
Complete e-way bill management services for smooth movement of goods across India.
- E-way bill generation
- Extension and cancellation
- Documentation compliance
HSN Classification
Expert assistance with proper HSN classification of goods and services for correct GST rates.
- HSN code determination
- Tax rate assessment
- Classification disputes resolution
GST Refunds & Assessments
GST Refund Processing
End-to-end assistance with GST refund claims to ensure prompt processing and disbursement.
- Export refunds (with/without payment)
- Inverted duty structure refunds
- Excess payment refunds
Notice Response Management
Professional handling of GST notices and queries from tax authorities with effective responses.
- Scrutiny notice responses
- Mismatch notifications
- Deficiency memo resolution
Assessment Assistance
Expert support during GST assessments to ensure smooth proceedings and favorable outcomes.
- Scrutiny assessment handling
- Best judgment assessment defense
- Summary assessment assistance
GST Dispute Resolution & Litigation
GST Appeals
Comprehensive assistance with GST appeals at various levels to protect your business interests.
- First appeals preparation
- Appellate Tribunal representation
- Documentation & submission
Advance Rulings
Expert assistance with advance ruling applications for clarity on GST implications.
- Application preparation
- Representation before authorities
- Interpretation & implementation
GST Litigation Support
Comprehensive support for GST-related litigation matters at various judicial forums.
- Legal representation
- Case documentation
- Legal opinion & strategy
GST Advisory & Education
GST Consulting
Strategic GST advisory services to optimize tax positions and ensure business efficiency.
- Business structure optimization
- Transaction structuring
- Tax planning strategies
GST Training & Workshops
Customized GST training programs for businesses, accounting teams, and professionals.
- In-house team training
- Industry-specific workshops
- GST compliance certification
GST Updates & Seminars
Stay informed about the latest GST amendments, notifications, and industry implications.
- Monthly GST newsletters
- Quarterly GST seminars
- Budget impact analysis
GST Filing Calendar
Meeting GST deadlines is crucial to avoid penalties. Mark these key dates in your calendar.
GSTR-1
11th
of the next month
Monthly outward supply details
GSTR-3B
20th
of the next month
Monthly summary return
GSTR-9
31st
December
Annual return for regular taxpayers
GSTR-9C
31st
December
Reconciliation statement
Dates may vary based on turnover, location, and government notifications. Always verify current deadlines.
Benefits of Our GST Services
Expert Team
Our team of GST professionals stays updated with the latest regulations and has extensive experience across industries.
Timely Compliance
We ensure all GST filings and compliance requirements are met well before deadlines to avoid penalties and interest.
Error-Free Filing
Our thorough review and reconciliation processes ensure accurate and error-free GST returns and refund claims.
ITC Optimization
We maximize eligible input tax credits through comprehensive reconciliation and appropriate documentation.
Regular Updates
We keep you informed about GST changes, amendments, and notifications that impact your business.
Confidentiality
We maintain strict confidentiality of your business information and financial data with secure systems.
Our GST Services By The Numbers
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GST Registered Clients
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Returns Filed
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Compliance Success
Common GST Questions
Find answers to the most common questions about GST compliance and requirements.
GST registration is mandatory for businesses under the following circumstances:
- Businesses with an aggregate turnover exceeding ₹20 lakhs (₹10 lakhs for special category states) in a financial year
- Businesses making inter-state supplies (regardless of turnover threshold)
- Casual taxable persons or non-resident taxable persons
- Persons liable to pay tax under reverse charge mechanism
- E-commerce operators and suppliers operating through e-commerce platforms
- Input service distributors
- Persons required to deduct tax at source (TDS)
- Agents of a supplier
Certain businesses may voluntarily register for GST even if they fall below the threshold limits to avail input tax credits and other benefits.
| Return Type | Description | Who Files | Due Date |
|---|---|---|---|
| GSTR-1 | Details of outward supplies of goods and services | All regular taxpayers | 11th of the next month |
| GSTR-3B | Monthly summary return | All regular taxpayers | 20th of the next month |
| GSTR-4 | Annual return for composition dealers | Composition scheme taxpayers | 30th April of the next financial year |
| GSTR-5 | Return for non-resident taxable persons | Non-resident taxable persons | 20th of the next month |
| GSTR-6 | Return for input service distributors | Input service distributors | 13th of the next month |
| GSTR-7 | Return for tax deducted at source | Tax deductors | 10th of the next month |
| GSTR-8 | Return for tax collected at source | E-commerce operators | 10th of the next month |
| GSTR-9 | Annual return | Regular taxpayers | 31st December of the next financial year |
| GSTR-9C | Reconciliation statement | Taxpayers with turnover above threshold | 31st December of the next financial year |
GST refunds may be claimed in the following scenarios:
Export-Related Refunds
- Export of goods or services under payment of IGST
- Export of goods or services under bond/LUT without payment of IGST
- Deemed exports where recipient can claim refund
Excess Balance in Electronic Cash Ledger
- Excess payment of tax
- Wrong payment under incorrect head
Supplies to Special Economic Zones
- Supplies to SEZ developers/units
- Zero-rated supplies to SEZ
Miscellaneous Cases
- Provisional assessment finalization
- Assessment/adjudication order
- Tax wrongfully collected and deposited
The refund process typically involves filing Form GST RFD-01, supporting documentation, and may include pre-audit verification depending on the refund amount and category.
The e-way bill is an electronic document required for the movement of goods worth more than ₹50,000 under GST. Here's how the system works:
Registration
All GST registered businesses involved in the transportation of goods need to register on the e-way bill portal (ewaybillgst.gov.in).
Generation
An e-way bill can be generated by the supplier, recipient, or the transporter by providing details such as GSTIN of supplier and recipient, HSN code, value of goods, etc.
Validity
The validity period depends on the distance to be traveled:
- For distances less than 100 km: 1 day
- For every additional 100 km or part thereof: +1 day
Transportation
The e-way bill number must be carried by the person in charge of the conveyance and can be verified by tax officers during transit.
Cancellation/Extension
An e-way bill can be cancelled within 24 hours of generation. The validity can be extended before expiry if the goods cannot be transported within the original validity period.
Special provisions apply for multi-vehicle transportation, bill-to-ship-to transactions, and for transportation by railways, airways, or vessels.
Input Tax Credit (ITC) is one of the key features of GST that helps in avoiding the cascading effect of taxes. It allows businesses to claim credit for taxes paid on purchases against taxes collected on sales:
Eligibility for ITC
A registered person can claim ITC if:
- They possess a tax invoice or debit note issued by a registered supplier
- They have received the goods or services
- The tax has been actually paid to the government by the supplier
- They have filed their return under section 39
- For invoices/debit notes older than 30th day of September following the end of financial year or filing of annual return, whichever is earlier, ITC cannot be claimed
Restricted ITC
ITC is not available for:
- Motor vehicles (with specific exceptions)
- Food and beverages, outdoor catering, beauty treatment, health services, cosmetic and plastic surgery (except when used for making outward supply)
- Membership to clubs, health and fitness centers
- Rent-a-cab, life insurance, health insurance (with specific exceptions)
- Travel benefits to employees on vacation
- Works contract services for construction of immovable property (with exceptions)
- Goods or services used for personal consumption
- Goods lost, stolen, destroyed, written off, or disposed of by gift or free samples
ITC Utilization Order
ITC must be utilized in the following order:
- IGST credit to be used for IGST, then CGST, then SGST/UTGST
- CGST credit to be used for CGST, then IGST
- SGST/UTGST credit to be used for SGST/UTGST, then IGST
CGST credit cannot be used to pay SGST/UTGST and vice versa.
Reversal of ITC
ITC must be reversed in the following scenarios:
- When goods or services are used partly for business and partly for non-business purposes
- When goods or services are used for both taxable and exempt supplies
- When payment is not made to the supplier within 180 days
- When ITC is claimed wrongly
- When a business opts for the composition scheme or goods/services become exempt
Pro Tip: Regular reconciliation of ITC claims with GSTR-2A/2B is essential to ensure that only eligible ITC is claimed and to avoid future disputes or interest liabilities.
Non-compliance with GST regulations can result in various penalties and consequences:
| Offence | Penalty |
|---|---|
| Failure to register when liable | ₹10,000 or 100% of tax due, whichever is higher |
| Issuing invoice without supply | ₹10,000 or amount of tax evaded, whichever is higher |
| Late filing of returns | ₹100 per day up to a maximum of ₹5,000 |
| Late payment of tax | Interest at 18% per annum |
| Suppressing turnover | 100% of tax amount due or ₹10,000, whichever is higher |
| Claiming excess/wrong ITC | 100% of wrongly claimed amount or ₹10,000, whichever is higher |
| Non-issuance of invoice | 100% of tax amount due or ₹10,000, whichever is higher |
| Not maintaining proper books of accounts | ₹25,000 |
| Failure to furnish information/documents during audit | ₹25,000 |
| E-way bill violations | ₹10,000 or tax sought to be evaded, whichever is greater |
Important Note:
For certain offenses where the taxpayer voluntarily pays the tax and interest before the issuance of a notice, the penalty may be reduced to nil or a lower percentage. Additionally, repeated offenses may lead to more severe consequences, including suspension of GST registration and potential prosecution in serious cases of tax evasion.
Have more questions about GST?
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