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Goods and Services Tax (GST)

GST Consultancy & Regular Compliance

Our tax experts at Prakash K Prakash Consult have the local expertise and broad reach globally required to deliver comprehensively integrated GST consultancy and regular compliance advisory. We offer holistic support in resolving complex GST-related concerns. We combine our in-depth understanding of your business intricacies and GST knowledge to help our clients with their GST-related challenges. Our team keep themselves updated with the evolving policies. We are constantly exploring innovative ways of serving our clients as reliable GST consultants and regular compliance experts. Whether your business is based in Singapore, the USA, Japan, Australia, the United Kingdom, or any other country, we help you understand and comply with India's GST regulations so your business operations remain smooth and fully compliant.

We combine our in-depth understanding of your business intricacies and GST knowledge to help our clients with their GST-related challenges. Our team keep themselves updated with the evolving policies. We are constantly exploring innovative ways of serving our clients as reliable GST consultants and regular compliance experts.


Prakash K Prakash at Delhi/ NCR provides complete GST solutions to the clients which includes all such services like:

  • Obtaining registration under GST

  • Regular GST compliances

  • Tax invoice design

  • Preparation and filing of monthly/ Quarterly GST returns

  • Preparation and filing of GST refund Application & follow up in the case of exporter

  • Preparation and filing of Annual return.

  • Preparation and filing of Annual Reconciliation Statement.

  • GST Assessment

  • Cancelation of GST Number

  • Revocation of GST Number

  • Amendment in GST Certificate

  • Co-ordination and liaisoning with GST Department

  • Consultancy on day to day queries

GOODS & SERVICES TAX (GST) - SALIENT FEATURES      
 

The Govt. of India by way of enactment of New Tax i.e. Goods & Services Tax Act known as GST has sub-merged various Central and State Levy into GST – such as Excise Duty, Service Tax, Central Sales Tax, Additional Custom Duty, Special Additional Duty, VAT, Entry Tax, Purchase Tax, Luxury Tax, Entertainment Tax, Octroi, Taxes on lottery, Batting, and gambling apart from CESS and Surcharge. It is single tax regime for whole economy which will convert the whole nation into one market place.

 

The registration in GST is PAN based and state specific. The supplier has to register in each of such state or union territory from where he effects supply. A person registered in one state is considered “unregistered person” outside the State.

 

The State GST (SGST) and Central GST (CGST) shall be levied on all the transactions of goods and services, concurrently. Due credit against GST is available to an entity in respect of taxes paid on any supply of goods or services or both used or intended to be used in the course business. It is destination based tax on consumption of Goods and Services. Hence, the credit of SGST shall be transferred to the Destination State in the form of Integrated GST (IGST). IGST will be imposed on all Inter-State Transactions.

 

Compulsory Registration:-

  • Persons who are required to pay tax under Reverse Charge.

  • Causal Taxable persons making taxable supply.

  • Every e-commerce operator.

  • Every person who supplies goods/and/or services, other than branded services through e-commerce operator.

  • Aggregator to supply services under their own brand name

  • Non Resident Taxable persons making taxable supply.

  • Persons who make taxable supply on behalf of other taxable persons whether as an agent or otherwise.

  • Input Service Distributor.

  • Every persons supplying online information and data base access or retrieval services from a place outside India to a person in India, other than a registered person

  • Person required to deduct /collect tax at source (TDS/TCS)

GST Registration – Occasion base:-

  • Non Resident Taxable person who are not having fixed place of business or residence in India can make taxable supplies only after obtaining the registration and they have to deposit in advance the estimated tax liability at the time of applying for registration. The registration to a non-resident is given on the basis of valid passport ( in the case of individual) or on the basis of the tax identification number (TAN) issued by respective country (if it is incorporated business entity). They are given registration with 90 days validity, which can be further extended to another 90 days.

  • Casual Taxable person is one who is registered under GST in some state in India, but wants to effect supplies from some other state in which he is not having any fixed place of business. For example: the registered dealer intents to participate in trade exhibition being placed outside the state of their home state. Such person has to apply for registration atleast 5 days in advance before making any supply. The registration is granted to such category of entities for the period of operation which may be further extended after making advance deposit of tax liability.

GST Registration – for Foreign diplomatic mission and Embassies:-

  • Foreign Diplomatic mission and embassies are required to get it some registered under GST for obtaining Unique Identification Number (UIN). Such notified agency can have refund of GST paid on supply of material and services.

GST Registration not required:-

  • By the Agriculturalists/farmers

  • Person engaged exclusively in the business of supplying of Goods and /or services that are not liable to tax or wholly exempt from tax.

Threshold limit of turnover for Registration under GST:

 

States

For Goods

For Services/ For Goods & Service

Mizoram, Tripura, Manipur and Nagaland

10 lakhs

10 lakhs

Arunachal Pradesh, Meghalaya, Puducherry, Sikkim, Telangana, Uttarakhand

20 lakhs

20 lakhs

Jammu and Kashmir, Assam, Himachal Pradesh and all other States

40 lakhs

20 lakhs

Voluntary Registration: 

 

As the name suggest, anyone can register under GST even though he may not required by law.

 

Compliance

 

Present time line for deposit of GST and filing of GSTR-3B for all tax payers are as follows:

 

If turnover in previous year is more than 1.5 Crore or current year Turnover likely to be more than 1.5 Crore: - 


For GSTR-1 : 11th day of the succeeding month

 

​If turnover in previous year is less than 1.5 Crore or current year Turnover likely to be less than 1.5 Crore: 

 

IFF (Optional) : 13th day of the succeeding month

 

GSTR-1 (Quarterly): 13th day of the succeeding quarter

 

Payment of Taxes: 25th Day of Succeeding Month

 

If turnover in previous year is more than 5 Crore :

For GSTR-3B: 20th day of the succeeding month

If turnover in previous year is less than 5 Crore :

GSTR-3B (Quarterly) : 22th day of the succeeding month for following States/UT

State of Chhattisgarh, Madhya Pradesh, Gujarat, Maharashtra, Karnataka, Goa, Kerala, Tamil Nadu, Telangana or Andhra Pradesh or the Union territories of Daman and Diu and Dadra and Nagar Haveli, Puducherry, Andaman and Nicobar Islands and Lakshadweep

 

GSTR-3B (Quarterly) : 24th day of the succeeding month for following States/UT

Himachal Pradesh, Punjab, Uttarakhand, Haryana, Rajasthan, Uttar Pradesh, Bihar, Sikkim, Arunachal Pradesh, Nagaland, Manipur, Mizoram, Tripura, Meghalaya, Assam, West Bengal, Jharkhand, Odisha, the Union Territories of Jammu and Kashmir, Ladakh, Chandigarh and New Delhi

 

  • Late deposit of tax will attract penal interest @ 18% p.a.

  • All the tax payers are required to file their GST returns depending upon the category of tax payer, turnover quantum, residential status, etc. Different time lines have been prescribed for filing the same. However, late deposit fee of GST return is Rs. 50/- per day and for filing Nil return is Rs. 20/- per day.

  • Filing of Annual Return  / GST Reconciliation Statement - Last date of FY – 2021-22 is 31st December, 2022

​

Registration Scheme for Small Traders – Composition Scheme

Composition Scheme is a simple and easy scheme under GST for small taxpayers. Small taxpayers can avoid hardship being faced by them while complying various GST formalities and can pay GST at a fixed rate. The benefit of the Scheme is available only to the taxpayer whose sales turnover is less than Rs. 1.5Crores.In case of North Eastern States and Himachal Pradesh, the limit is now Rs. 75 Lakhs. However, the benefit of scheme is not available to the following category of business entity/individual:-

  • Manufacturer of ice cream, pan masala, or tobacco

  • A person making inter state supplies

  • A casual taxable person or a non resident taxable person

 

Eligibility criteria for availing Composition Scheme

 

The composite scheme is subject to fulfilment of following terms and conditions:-

  • No Input Tax Credit can be claimed by a dealer opting for composition scheme

  • The dealer cannot supply goods not taxable under GST such as alcohol.

  • The taxpayer has to pay tax at normal rates for transactions under the Reverse Charge Mechanism (RCM)

  • If a taxable person has different segments of businesses ( such as stationery, medicines, electronic accessories, furniture etc.) under the same PAN, they must register all such businesses under the scheme collectively.

  • The taxpayer has to mention the words “ composition taxable person” on every bill of supply issued by him

 

Contact PKP for more on GST Services

Contact Person : Vikas Mishra

Email -  pgupta@pkpconsult.com

Telephone Numbers : +91-11-23312207/ 23328753

Mobile Number : +91-9560649119

 

Frequently Asked Questions

The Goods and Services Tax (GST) is a comprehensive, destination-based indirect tax levied on supply of goods and services across India. The Government has subsumed various indirect taxes while introducing GST in the year of 2017.

Registration is mandatory for all business entities, irrespective of its business module i.e., proprietorship, partnership, Private/Public limited companies and LLP etc.

PKP Consult offers end-to-end GST registration services. It includes:

> Assessment of eligibility in view of business structure, location of head office and branch offices, if any, category of registration, nature of supply etc.

> Filing of Registration Form - GST REG-01 along with requisite details/documents.

> To reply queries raised by the departmental before granting registration.

PKP also assist in getting multi-state registrations and registrations for special categories including ISDs, e-commerce operators, and non-resident taxable persons.

Yes. PKP Consult provides end-to-end refund assistance covering particularly following categories:

> Export refunds (zero-rated supplies): IGST paid on exports, or accumulated ITC under LUT.

> Assessment/appellate orders: Refund of excess tax paid with interest under Section 56.

> GST refund for foreign embassy and diplomats.

The Composition Scheme allows small businesses to pay GST at a fixed concessional rate on aggregate turnover. Composite scheme opter issue invoice at a gross value that includes GST element also. However, such assessees cannot claim ITC.

Threshold limit varies from Rs. 50 Lakhs to Rs. 1.5 Crores.

PKP Consult provides online/offline representation services in the following manner:

> Scrutiny of Notice u/s 61 of the Act and its reply along with details/documents.

> Ex-parte Assessments u/s 62 & 63 of the Act. Appropriate action including filing of tax returns, representation and assessment.

> Departmental Audit u/s 65 - Pre-audit preparation, document compilation, physical attendance before Audit team and to resolve Audit queries.

> Show Cause Notices u/s 73 & 74 – Strong legally reply based on precedent settled by appellate courts and to contest each point of SCN with supporting details/documents.

> Anti-Evasion / Search & Seizure u/s 67–72 - Immediate advisory on compliances and representation post department action.

Yes. PKP Consult offers comprehensive GST advisory on a retainer basis/on assignment basis:

> HSN/SAC classification, applicable rates, and determination of composite vs. mixed supply treatment.

> ITC eligibility, blocked credits (Section 17(5)), ITC reversal obligations, and GSTR-2B reconciliation.

> Place of supply analysis for domestic, cross-border, digital, works contract, and logistics transactions.

> Transaction structuring for tax efficiency — including mergers, restructuring, inter-company arrangements, and slump sales.

> RCM advisory on unregistered procurement, and import of services.
Sector-specific advisory across real estate, financial services, healthcare, IT, manufacturing, hospitality, and e-commerce.

> Day-to-day query resolution, GST law updates, periodic compliance reviews.

Basic Turnover Thresholds:

Supply of Goods - Annual sales turnover exceeding ₹40 lakh (₹20 lakh for special category states).

Supply of Services - Annual receipts exceeding ₹20 lakh (₹10 lakh for special category states).

In the following cases, it is mandatory to have GST Registration:

Inter-state suppliers, e-commerce operators and sellers, casual taxable persons, non-resident taxable persons, RCM recipients, Input Service Distributors, and TDS deductors under GST.

Yes. It is advisable for businesses supplying to GST-registered entities, startups, and exporters seeking ITC refunds on zero-rated supplies to have voluntary registration.

Non-registration attracts a penalty of 10% of tax due (or ₹10,000, whichever is higher) in non-fraud cases, and 100% of tax due in fraud cases along with interest as per law.

> GST-compliant invoicing, determination of correct HSN/SAC codes,
> Return filing,
> ITC optimisation guidance
> Amendment – change of office address, nature of activities, structural
> change and decomposition of partners and directors.
> Suo-moto Cancellation, if required.

These are as under:

Filing of GST Returns periodically:

> GSTR-1: Monthly (by 11th of the successding month) for turnover above ₹5 crore; quarterly (by 13th of successding month) under QRMP scheme.
> GSTR-3B: Monthly sales summary (by 20th); quarterly under QRMP (by 22nd/24th).
> GSTR-9: Annual return for sales/receipts above ₹2 crore, by 31st December of the calendar year.
> GSTR-9C: Reconciliation statement for turnover above ₹5 crore, to be filed with GSTR-9.

Tax Payment Periodicity:
> Monthly payment via Electronic Cash Ledger.
> RCM self-assessment and payment where applicable, including on import of services.

Delayed payment attracts interest at 18% per annum

1) Financial penalty per day for not filing GSTR-1/GSTR-3B and GSTR-9 and reconciliation in GSTR-9C.

2) Interest @ 18% per annum on default amount of tax and @ 24% per annum on wrong availment of ITC

3) Penalties – Varies from 10% to 100% depending upon nature of default.

4) Suspension/Cancellation of registration certificate.

5) Search and Survey

6) Recovery of Tax by coercive manner including attachment of bank accounts.

7) Prosecution – Imprisonment from 1 year to 5 years.

Yes. The application must be filed within 2 years from relevant date of invoice or bill of entry.

PKP undertakes following activities in association with its legal team.

1) First appeal before the Appellate Authority,
2) Second appeal before GSTAT,
3) Writ Petitions before High Court,
4) SLPs before the Supreme Court.
5) Advance ruling applications before AAR/AAAR for proactive clarity on complex GST issues.

Embassies, High Commissions, and other diplomatic missions in India are entitled to claim a refund of GST paid on goods and services procured for their official use, in accordance with the principle of diplomatic immunity and reciprocal treatment under international conventions. They are required to have UIN number form GST Department. However GST registration is not required.

There is no minimum threshold for a refund claim. However, refund applications must be filed within 6 months from the last day of the quarter in which the supply was received.

PKP Consult assists embassies and diplomatic missions in identifying eligible purchases, compiling requisite documentation, preparing and filing refund applications with the jurisdictional GST authorities, and following up for timely processing and credit of the refund amount.

Disclaimer: The information contained herein is intended for general informational purposes only and does not constitute legal or tax advice. GST law is subject to periodic amendment. Businesses are advised to consult a qualified professional before taking any action based on the above.