GST Services

What is GST Compliances?

GST Compliance refers to adhering to the rules, regulations, and procedures set by the Goods and Services Tax (GST) framework in India. GST is a comprehensive indirect tax that is levied on the supply of goods and services, and businesses must ensure they meet all the requirements to avoid penalties and legal issues.

Businesses whose turnover exceeds the threshold limit specified by the government are required to register for GST. Once registered, businesses receive a GSTIN (GST Identification Number) and are legally allowed to collect GST on behalf of the government.

At Raj Kishor & Associates, we help businesses ensure smooth and accurate compliance with all GST regulations.

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Return filing

The process of submitting tax returns under GST regulations. Businesses file returns detailing their sales, purchases, input tax credit, and tax liabilities. Regular filing ensures compliance and timely payment of taxes.

Registration

GST registration is mandatory for businesses whose turnover exceeds the prescribed threshold. Upon registration, businesses receive a unique GSTIN (GST Identification Number) and can collect GST from customers and claim input tax credits.

LUT Form

The Letter of Undertaking (LUT) is a form that allows exporters to ship goods without paying GST upfront. It is a declaration that the exporter will fulfill all the tax obligations, making the export transaction zero-rated.

GST cancellation

GST cancellation refers to the process of deregistering a business from GST when it is no longer required to be registered. This could happen due to reasons like a decrease in turnover or business closure.

GST Notice

A GST notice is a communication from the tax authorities requesting information or clarification on discrepancies in filed returns or tax payments. The notice may also be issued for audits or investigations.

GSTR 7 Filing

GSTR-7 is filed by businesses that are required to deduct tax at source (TDS) under GST. This return provides details of the tax deducted and paid to the government on behalf of suppliers.

GSTR 10 (Final return)

GSTR-10 is a final return filed by businesses that cancel their GST registration. It includes details of any stock on hand at the time of cancellation, and any GST due must be paid before cancellation.

VAT Returns

A VAT (Value Added Tax) return is a document filed by businesses to report VAT paid on sales and purchases. It is filed periodically and helps ensure that the correct VAT is collected and remitted to the tax authorities.