Is it worth hiring an experienced consultant for GST filing?
The Goods and Service Tax is nothing but an indirect sales tax that is born by the end customer. Manufacturers, e-commerce operators, firms, individuals and product promotion firms, and hospitality sectors who come under GST rules and regulations should engage the services of experienced gst consultants in bangalore and pay the GST to the governing body every year.
Previously the government was following a complex tax system and charging varieties of tax like Sales, VAT, entertainment, ST, and so on. The Finance Ministry after lengthy consultation with various service, manufacturing, and engineering sectors decided to bring a unified GST and after getting the nod from the parliament, it was successfully introduced in our country.
The main objective is to merge all the state and central government taxes into unified GST which successfully materialized after it was successfully passed in the parliament after approval from the Ministry of Finance.
It was introduced in India on 1st July 2017 and immediately after the successful introduction, the government decided to form a centralized committee comprising of ministers and bureaucrats that supervises the functions.
Business organizations and industries that make a turnover of Rs.20 lakhs for service providers and Rs.40 lakhs for traders are mandatorily required to obtain GST registration, file returns as applicable through licensed gst consultants in Bangalore and pay the tax periodically to the government body. Any deviations or non-payment of GST results in penalties or cancellation of GST.
What are the benefits of hiring GST consultants in Bangalore?
It is always safe to engage the services of gst consultant in bangalore and file the returns before the stipulated date. Listed below are the benefits of hiring senior gst registration consultants in bangalore to avoid penalties and legal proceedings.
- The government-authorized consultant will file GST application papers according to the prevailing tax rules and regulations and get the GST registration number quickly.
- The licensed and registered gst consultant in bangalore will explain in detail the seriousness of filing GST and getting the returns on time. The accountants will also offer on-demand services like free tax consultation and ancillary services.
- The famous gst registration consultants in bangalore will step into your shoes, understand your tax requirements, and own maximum responsibility till they complete their work successfully.
- The licensed gst registration consultants in bangalore will offer periodic GST filing services like monthly, quarterly, half-yearly, and annual.
- A reliable and trusted gst consultant in bangalore will offer emergency services if need be and protect the rights of the customers.
- The GST consultant (a licensed chartered accountant) will file an application to the appellate authority and claim a refund immediately.
- The well-established GST consultant will work as an intermediary and do varieties of services like modifying and cancelling the GST.
- An experienced GST consultant would have gained profound knowledge in laws related to GST filing and will offer the best support to his clients.
- A reputed chartered accountancy firm that handles GST filing will follow high business standards, code of conduct, and professional ethics.
- Entrepreneurs can focus seriously on their business activities once they outsource GST tax filing works to reputed chartered accountant firms or consultants.
- Renowned GST consultants will use advanced software and project the GST tax amount which you have to bear before finalizing it.
- GST consultants will offer round-the-clock assistance to the customers and assist them at any point in time.
- Unlike brokers and agents, the licensed and registered consultants will charge nominally for all the services and build the best relationship with you.
How to find the best gst consultant in bangalore?
Bangalore is becoming the fastest growing commercial hub in India and the profitably running goods manufacturing industries and e-commerce firms utilize the services of gst consultant bangalore.
When it comes to GST filing there are plenty of gst registration consultants in bangalore that offers comprehensive services. You can also find chartered accountancy firms in prominent locations like Koramangala that offer GST filing as one of the services.
Individuals and business organizations should take into account the following factors before hiring the services of tax consultants.
– Years of experience and reputation
If you are filing GST for the first time or planning to renew it before the stipulated date then you should take efforts to hire prominent gst registration consultants in bangalore. You should always hire Chartered Accountants or GST practitioners who have long years of experience and a reputation in the market.
– Transparency and security systems
The reputed gst registration consultants in bangalore will be transparent in their work and give priority to safety and security.
– High levels of knowledge in the tax filing
Experienced GST tax consultants will have high levels of knowledge in GST rules and will work according to the directions of the customers.
A company can run smoothly and their business to the next level only when they file income tax, and GST promptly through reputed tax consultants. You should do proper research and survey before selecting the best GST consultants.
The reputed tax consultants would have offered services to several branded clients in the past which will throw a light on their capabilities. You should take measures to explore the recent projects that were handled by the tax consultants.
You should fix an appointment with a senior tax consultant who operates from your location and enter into a detailed discussion before taking the next measure. You can pose varieties of questions related to GST and once you get a convincing answer from the consultant then you can take the next step.
Who is exempted from GST?
The following are some examples that are exempted from GST.
- Fresh vegetables and fruits like onions and potatoes.
- Sea-foods and dairy products like live and fresh fish.
- Silkworm and raw silk
- Handloom products and chalk pieces
The above list is only a few items in the exhaustive list. You can get the complete list of goods exempted from GST when you explore the official website.
There are two types of exemption specified by the GST act and they are absolute and conditional exemptions.