Indirect Tax
The implementation of GST marked a significant overhaul of India’s indirect tax ecosystem. At SPC, we offer specialized tax services, assistance, and support to help businesses operate efficiently with strong accountability and governance.
What we offer
Review Existing Policies
- Desktop review of filed GST returns and their alignment with books of accounts.
- Review of the company's compliance with GST law amendments.
- Review of the company's Input Tax Credit claims.
- Examination of the company’s GST documentation, including invoices, debit/credit notes, etc., on a sample basis.
- Evaluation of internal controls for accurate tax quantification and discharge.
- Advising on process improvements or changes from a GST perspective.
GST Audit
- Audit under Section 35(5) of the Central Goods & Services Tax Act, 2017.
- Review of books of accounts for GST applicability on outward and inward supply transactions.
- Review of GST returns in comparison with the entity's audited financials.
- Scrutiny of sample documentation to ensure compliance with the law.
- Providing feedback to management if issues arise.
- Preparation of an audit report with required schedules, annexures, and reconciliation statement.
Review & Advisory
- Assistance in computation of monthly GST liability and tax credit including liability arising nder reverse charge.
- Review of outward details to be reported in GTSR 1 and GSTR 2 (outward and Inward supplies).
- Any other assistance and opinions related to indirect tax matters and tax advisory.
- Verification of HSN Code.
- Analysis of Anti-Profiteering.
Compliances
- Assisting with the preparation and submission of monthly returns.
- Monthly review of invoices, credit notes, debit notes, export invoices, bill of supply on a sample basis.
- Assistance with preparation and filing of annual return.
- As required by the client, assistance with ASP/GSP.
Representation Services
- Preparation of documents/ information required for assessments, replies to notices etc. as demanded by the authorities from time to time.
- Assisting in assessment proceedings relating to GST/VAT/Service Tax and representations before the tax/the adjudication authorities.
- Assistance in departmental GST audits.
- Day to day litigation support on notices, summons etc. received from tax authorities.
- Assistance in seeking advance ruling.
And more
- Revenue Reconciliation between Form GSTR-3B and GSTR-1.
- Input Tax Credit Reconciliation between GSTR-3B and GSTR 2A .
- Assistance in obtaining Refunds & Duty Credit scrips under Service Exports from India Scheme (SEIS).
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