Indirect Taxation

Filing of GST Returns

A return is a document containing details of income which a taxpayer is required to file with the tax administrative authorities. This is used by tax authorities to calculate tax liability.

Under GST, a registered dealer has to file GST returns that include:

  • Purchases
  • Sales
  • Output GST (On sales)
  • Input tax credit (GST paid on purchases)
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In the GST regime, any regular business has to file two monthly returns and one annual return. This amounts to 26 returns in a year.

The beauty of the system is that one has to manually enter details of one monthly return – GSTR-1. The other return GSTR 3B will get auto-populated by deriving information from GSTR-1 filed by you and your vendors.

There are separate returns required to be filed by special cases such as composition dealers.

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Advisory and Planning Services with respect to GST

Goods and Services Tax (GST) Advisory services focus on our client’s overall tax performance, creating greater opportunities to measure and improve efficiency, develop a more strategic approach to tax, and deliver outstanding shareholder value.

Through benchmarking current performance, identifying best practices in relation to peer and historical performance, and measuring the delta between reality and the potential of our client’s tax department.

Keerthi and Co provides a clear strategic plan for transforming the tax function into a Tax Competency Centre.

Filing Annual Returns of GST

All the registered taxable persons under GST must file GSTR 9 form. However, the following persons are not required to file GSTR 9.

  • Taxpayers opting Composition scheme as they must file GSTR-9A.
  • Casual Taxable Person.
  • Input Service Distributors.
  • Non-resident taxable persons.
  • Persons paying TDS under Section 51 of GST Act.
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Attending Assessments of VAT

You may issue an assessment for VAT where we have reason to believe that you have:

  • Not paid the correct amount of VAT or
  • Claimed too much VAT and received this amount.
  • A formal notice will issue to you setting out the amount payable.
  • We can provide all the information about VAT assessment.