The country has come under the single indirect taxation system since July 1st, 2017. The new indirect tax is called goods and services tax (GST). The GST is the single tax reform in the country since independence. It has subsumed various indirect taxes like excise duty, entry point tax, value-added tax, entertainment tax, octroi etc. The tax has five slabs from 0 to 28 % slab. The value of the single item will be same through the country. The items of basic use are kept in the 0 % slab. All products and services of the country are in one of the five slabs. The other slabs are 5%, 12%, 18% and 28%. Every business in the country having over 20 lac turnovers has to come under GST but the registration limit for businesses in the northeast is kept at 10 lac turnover.
The implementation of the goods and services tax has reduced the cost of products and services as the cascading effect of the tax has been eliminated. The government is constantly keeping watch on the working of the GST to ensure that traders, business, and consumers should not face any difficulty and there must not be any problem in the filling of the returns. The government is willing to assess the implementation progress and make necessary changes to help both businesses and consumers. The Best GST Registration Consultants in Mumbai have gone through the entire GST taxation to give the detailed knowledge to clients based on their business needs. Our experts help clients to fulfil various provisions for registration under the GST.
We help clients to get the relevant documents for faster registration. The client can come to us for understanding any aspect of the tax and to know how the same to going to affect their business. We evaluate the PE exposure and advise the client, work in building business models to address PE issues in advance and keep business hassle free. We also provide compliance services in case of PE or deemed PE. Our tax planning on the risk management help clients to know the tax health and get necessary action report. We also the calculate advance tax. Our experts support clients in double tax avoidance taxation issues involved in the international business. We represent clients before various domestic and international tax authorities.
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