CA India K T S S & Company LLP

GST

GST registration, periodic and annual returns, e-invoicing, e-way bills and input tax credit reconciliation.

GST compliance is continuous rather than annual, and input tax credit is now effectively conditional on what your suppliers file. We manage registrations, monthly and quarterly returns, annual returns and reconciliation of credit against GSTR-2B, along with e-invoicing and e-way bill requirements for businesses crossing the applicable thresholds.

GST Services

GST Registration Application for GST registration, including assessment of whether registration is mandatory for the turnover and activity in question. GST Return Filing Monthly and quarterly filing of GSTR-1 and GSTR-3B, with reconciliation before submission rather than after. GST LUT Filing Filing of the Letter of Undertaking that allows exporters to supply without payment of integrated tax. GST Registration Cancellation Application for cancellation or surrender of registration, and filing of the final return in Form GSTR-10. GST Annual Return Preparation and filing of the annual return in Form GSTR-9, and the reconciliation statement in GSTR-9C where applicable. GST Invoicing Setting up tax invoice formats that carry every particular the GST rules require, so credit is not denied on a documentation defect. GST e-Invoicing Registration on the Invoice Registration Portal and generation of e-invoices with IRN and QR code for businesses above the notified threshold. e-Way Bill Generation and management of e-way bills for the movement of goods, including consolidated bills and validity extensions. Input Tax Credit Reconciliation of credit claimed against GSTR-2B, identification of mismatches and follow-up on credit blocked by supplier default.

Frequently Asked Questions

Registration is mandatory once aggregate turnover crosses the threshold notified for the state and the nature of supply, and immediately - regardless of turnover - in certain cases such as inter-state taxable supply, e-commerce operators and persons liable under reverse charge. Because thresholds differ for goods, services and special category states, the position should be confirmed for your specific facts.

GSTR-1 reports your outward supplies invoice by invoice. GSTR-3B is the summary return through which tax is actually paid. GSTR-1 is what populates your customers' input tax credit, so filing it late or inaccurately affects them, not only you.

The most common reason is that the supplier has not filed the corresponding outward supply, so the invoice does not appear in your GSTR-2B. Credit can also be denied where the tax invoice lacks a particular the rules require, or where the goods or services fall in a blocked category under Section 17(5). Regular reconciliation against GSTR-2B is what surfaces these while they can still be corrected.

E-invoicing applies to registered persons whose aggregate turnover exceeds the threshold notified by the CBIC, which has been progressively lowered. Where it applies, an invoice without a valid Invoice Reference Number is not a valid tax invoice, and your customer's credit is at risk.

Ready to get started with GST?