Direct Tax and GST
GST is the most significant tax reform undertaken since India became an independent country. Prior to the implementation of GST on 1 July 2017, the taxation system was complex and burdensome. The taxes were divided into central and state taxes and included Service Tax, Central Sales Tax, Excise Duty, Additional Customs Duty, VAT, Special Additional Duty, Entry Tax, Purchase Tax, Octroi, and Luxury Tax among others.
Learn about the Direct Tax and GST Consultation services provided by Fintechminds | Select one of the finest accounting firms for consultation direct tax and GST.
business planning & strategy
GST was implemented with the aim of making it simpler for governments to collect taxes. However, its implementation was anything but smooth and a lot of complex issues had to be tackled with its implementation. As such the requirements of GST a complex and riddled with loopholes, vague definitions, and grey areas that need to be comprehensively understood and addressed.
The GST regimen implemented in India is divided into two main categories The State GST (SGST) wherein the State Government collects its shares of the taxes and the Central GST (CGST) the GST that is collected by the Central Government. The registration process for GST is based on the PAN (Permanent account number) Card and is required to be done in the state or Union Territory to which a person or business entity belongs.
business plan market
FintechMinds maintains a pool of experienced auditors and accountants who comprise our GST Consulting teams and can assist with consultations and solutions to Direct Taxation and GST (Indirect taxation) problems faced by our clients. Our team has years of experience resolving tax problems and is also apt to conduct a complete review and restructuring of your company’s business model to achieve tax optimization and compliance.
Some of the Direct Tax and GST Services provided by FintechMinds include:
- New GST Registration
- Tax invoice for GST optimization
- Filing of returns (Monthly/Quarterly/Annually)
- Deposition of GST to the electronic cash ledger
- GST Refunds
- GST Audits
- Liaisoning with GST Department
- GST number cancellation or revocation
- GST Certificate
Contact us at the Consulting WP office nearest to you or submit a business inquiry online.
We have dealt with Fintechminds over many years and are hugely appreciative of the friendliness and quality of the team. We benefit from their detailed sector knowledge and fully trust in the service provided, no matter what the query is.
