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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.


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, multi-stage, destination-based indirect tax levied on supply of goods and services across India, introduced on 1st July 2017. It subsumed Central Excise Duty, Service Tax, VAT, and Octroi into a unified framework. GST operates on a dual structure — CGST and SGST on intra-state supplies, and IGST on inter-state supplies. Unique features of GST Act are as under:

• Eliminates cascading taxation through seamless Input Tax Credit (ITC) across the supply chain.

• Creates a unified national market, removing multi-state tax complexity and check-post delays.

• Enhances cash flow through ITC on purchases, reducing effective procurement costs.

• Promotes transparency via invoice-matching, reducing tax evasion and improving compliance ratings.

Registration is mandatory for all business entities, whether it is proprietorship, partnership, corporate entity – Private/Public limited companies and LLP etc. Various category of GST Registration as prescribed under the Act are as under:

Turnover-Based Thresholds:

• Goods: Annual turnover exceeding ₹40 lakh (₹20 lakh for special category states).

• Services: Annual turnover exceeding ₹20 lakh (₹10 lakh for special category states).

Compulsory Registration (Irrespective of Turnover):
• 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.

Voluntary Registration:

• Advisable for businesses supplying to GST-registered entities, startups, and exporters seeking ITC refunds on zero-rated supplies.

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. Apart from collection of GST along with interest from un-registered organization on value of supply of commodity/services supplied.

PKP Consult offers end-to-end GST registration support, covering:

• Eligibility assessment — evaluating turnover, nature of supply, and business structure to determine the appropriate registration category.
• Document compilation and filing of Form GST REG-01, including PAN, Aadhaar, incorporation certificate, address proof, bank details, and DSC.
• Response to departmental queries (Form GST REG-03/04) to ensure swift approval without rejection.
• Multi-state registrations and registrations for special categories including ISDs, e-commerce operators, and non-resident taxable persons.
• Post-registration setup — GST-compliant invoicing, correct HSN/SAC codes, return filing obligations, and ITC optimisation guidance.
• Amendment, where business details change such as office address, change in constitution, change in commodity and change in the directors/partners etc.
• Cancellation, where organization cease to operate.

Return Filing Obligations:

• GSTR-1: Monthly (by 11th) for turnover above ₹5 crore; quarterly (by 13th) under QRMP scheme.
• GSTR-3B: Monthly summary return (by 20th); quarterly under QRMP (by 22nd/24th).
• GSTR-9: Annual return for turnover above ₹2 crore, due by 31st December.
• GSTR-9C: Reconciliation statement for turnover above ₹5 crore, filed with GSTR-9.
Tax Payment:
• Monthly payment via Electronic Cash Ledger; delayed payment attracts interest at 18% per annum.
• RCM self-assessment and payment where applicable, including on import of services.
Invoicing and Documentation:
• GST-compliant tax invoices with GSTIN, HSN/SAC codes, tax rate, and CGST/SGST/IGST breakup.
• E-Invoicing mandatory for turnover above ₹5 crore (IRN and QR code via IRP).
• E-Way Bill required for goods movement above ₹50,000. Non-compliance results in detention and penalty.
• Books of accounts to be maintained for 72 months (6 years) from the due date of the annual return for that year.
PKP Consult provides comprehensive compliance management — return filing, ITC reconciliation, e-invoicing setup, and annual return filing.

Late Filing Fees:

• GSTR-1 / GSTR-3B: ₹50 per day (₹20 per day for nil returns), capped at ₹10,000 per return.
• GSTR-9 (Annual): ₹200 per day, capped at 0.25% of aggregate turnover.
• GSTR-9C (Reconciliation Statement): ₹200 per day, capped at 0.25% of aggregate turnover.
Interest:
• 18% per annum on outstanding tax from due date; 24% per annum on wrongly availed ITC.
Penalties:
• Non-payment / short payment (Section 73): 10% of tax or ₹10,000, whichever is higher.
• Fraud / wilful evasion (Section 74): 100% of tax evaded, plus interest and recovery.
• Incorrect invoicing: ₹10,000 per invoice or tax evaded, whichever is higher.
• Fake ITC claims: 100% of ITC wrongly availed.
Registration Suspension / Cancellation:
• Suspension on failure to file for 6 consecutive months (monthly filers) or 3 consecutive quarters (quarterly filers).
• Cancellation disables tax invoice issuance, GST collection, and ITC claims — severely disrupting operations.
Search and Survey:
• GST Department can conduct search and survey on the business premises of the organization akin to raid by Income Tax Department.
Recovery:
• Recovery of tax by way of harsh manner including attachment of bank account.
Prosecution:
• Evasion above ₹1 crore: Up to 1 year imprisonment. Above ₹2 crore: 3 years. Above ₹5 crore: 5 years.

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

• Export refunds (zero-rated supplies): IGST paid on exports, or accumulated ITC under LUT.
• Inverted duty structure: Where input GST rate exceeds output rate, causing ITC accumulation.
• SEZ supplies: Refund of IGST or accumulated ITC on supplies to SEZ units and developers.
• Assessment/appellate orders: Refund of excess tax paid with interest under Section 56.
• Deemed exports: Supplies to EOUs, under Advance Authorisation or EPCG scheme.
• Excess cash in Electronic Cash Ledger: Refund of inadvertently deposited amounts.
• GST refund for foreign embassy and diplomats.
Our Refund Process:
• Eligibility assessment, computation and reconciliation, document compilation (BRC/FIRC, shipping bills, LUT), filing of Form RFD-01, and active follow-up with the jurisdictional officer.
• Response to deficiency memos (RFD-03), personal hearing representation,
• Review of refund rejection order, if any
• Appeals against refund rejection orders.

Refund applications must be filed within 2 years from relevant date that may be relevant invoice or bill of entry.

Yes. An organization is eligible for interest after 60 days of filing the application for refund. Refunds not processed within 60 days attract government interest at 6% per annum.

The Composition Scheme (Section 10, CGST Act) 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.

Eligibility Thresholds and Rates:

• Manufacturers and traders: Turnover up to ₹1.5 crore — tax rate 1%.
• Restaurants (not serving alcohol): Turnover up to ₹1.5 crore — tax rate 5%.
• Service providers (Section 10(2A)): Turnover up to ₹50 lakh — tax rate 6%.
Key Conditions:
• No inter-state supplies, no e-commerce sales, no ITC claims, and GST cannot be collected from customers.
• Quarterly tax payment via Form CMP-08 (by 18th of month following quarter); annual return in GSTR-4 by 30th April.
Who Cannot Opt:
• Manufacturers of notified goods (ice cream, tobacco, aerated beverages), inter-state suppliers, casual/non-resident taxable persons, and e-commerce sellers.

PKP Consult provides robust representation and advisory across all types of GST proceedings as under:

• Scrutiny of Returns (Section 61): Detailed responses with invoices, reconciliation statements, and legal explanations to address return discrepancies.
• Best Judgement Assessments (Sections 62 & 63): Filing outstanding returns and representing unregistered persons to mitigate adverse orders.
• Departmental Audit (Section 65): Pre-audit preparation, document compilation, attendance at proceedings, and negotiation of audit conclusions.
• Show Cause Notices (Sections 73 & 74): Legally reasoned replies contesting proposed demands with documentary evidence.
• Anti-Evasion / Search & Seizure (Sections 67–72): Immediate advisory on rights and obligations, and representation in subsequent proceedings.

Appeals and Litigation:

• First appeal before the Appellate Authority (Section 107),
• Second appeal before GSTAT (Section 112),
• Writ Petitions before High Court,
• SLPs before the Supreme Court where warranted.
• Advance ruling applications before AAR/AAAR for proactive clarity on complex GST issues.

Yes. PKP Consult offers comprehensive GST advisory — available on a retainer basis or on assignment basis - covering:

• 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 Section 9(3)/9(4) supplies, unregistered procurement, and import of services.
• Sector-specific advisory across real estate, financial services, healthcare, IT, manufacturing, hospitality, and e-commerce.
Ongoing Support:
• Retainer engagements: Day-to-day query resolution, GST law updates, periodic compliance reviews, and priority representation in departmental matters.
• GST Health Check: Comprehensive review of return accuracy, ITC claims, invoicing compliance, and overall risk profile.

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.

Legal Basis:
The refund mechanism for embassies is governed by Notification No. 16/2017 – Central Tax (Rate) and the corresponding Integrated Tax (Rate) Notification, which provide for refund of GST paid by notified international organisations, foreign diplomatic missions, and consular posts in India.

Eligible Entities:
• Foreign diplomatic missions and consular posts
• Offices of international organisations notified by the Ministry of External Affairs (MEA)
• Career diplomatic agents and career consular officers (subject to conditions)
Goods and Services Eligible for Refund:
• Goods and services procured for official use of the diplomatic mission or consular post
• Goods procured for personal use of diplomatic agents and consular officers, subject to reciprocal arrangements between India and the respective country
Procedure for Claiming Refund:
• The refund application is filed with the jurisdictional GST Commissioner.
• The application must be accompanied by the following documents:
o Original tax invoices issued by the supplier reflecting GST charged and UIN.
o A declaration confirming that the goods or services were procured for official or personal diplomatic use
o A certificate from the Ministry of External Affairs (MEA) confirming the diplomatic status of the mission or officer
o Details of the bank account into which the refund is to be credited
Key Conditions:
• There is no minimum threshold for a refund claim.
• Refund applications must be filed within 6 months from the last day of the quarter in which the supply was received.
• The refund is admissible only where GST has been actually paid to the supplier and reflected in the tax invoice.

PKP Consult Assistance:
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.