Ways a GST Consultant Can Help You:
- A professional GST consultant assists businesses regarding proper registration, selection of the normal or composition scheme, and subsequent application of the latest rate of GST to their products or services being offered.
- Experts assist in designing a correct structure for billing and record keeping so that the returns under GST can be submitted on time and correctly.
- When there are some observations, audits, or disagreements among departments, an experienced consultant helps in drafting a response, documents, and representations so as to minimize liabilities in terms of heavy penalties.
- With the inclusion of your city and target customers (small traders and service providers in Kolkata, for example), a version of the same article can be optimized for local search terms such as “GST consultant in Kolkata” or “GST return filing services near me” for your tax agency website.
GST stands for Goods & Services Tax. It is an integrated, national, indirect tax on the supply of goods & services in India that has nullified enormous taxes in the past, such as VAT, excise, and service tax. GST is one such concept that has become quite pivotal for all businessmen, especially the SMEs. Knowing GST is the key for businessmen to avoid fines.
What is GST?
- GST is a destination-based tax, which implies that the taxes are collected in the state where the goods and/or services are finally consumed, rather than where the goods and/or services are produced.
- It is based on the value-added system. For every stage in the supply chain, GST is applied based on the value added. In any case, businesses are allowed to offset the GST paid on the purchase of inputs.
- In 2025, the GST Council simplified the tax rates to major slabs of 0%, 5%, 18%, and 40%, along with a few special lower rates like 0.25% and 3% on certain items like gold and precious stones.
Why GST Was Introduced:
- Before the introduction of the GST system, the business community was burdened with various overlapping taxes like VAT, entry tax, octroi duty, excise duty, and services tax. This gave rise to the ‘tax on tax’ system.
- GST strives to make the tax system simpler and streamlined with one law, one registration process, and most of the work to be done online.
GST registration basics:
- All businesses need to register for GST if their aggregate annual turnover exceeds certain thresholds: currently ₹40 lakh for supplies of goods (₹20 lakh in special category states) and ₹20 lakh for service supplies (₹10 lakh in special states).
- Even voluntary registration is possible; many growing businesses find it beneficial for claiming input tax credit and dealing with large customers, as well as projecting a credible impression in the marketplace.
- The GSTIN is assigned to each registered business once it has been registered, which is used for drawing up bills/returns as well as all GST communications. Key benefits of GST for small businesses
- No cascading tax: GST facilitates the offsetting of taxes paid on inputs against taxes due on outputs, thus suppressing the total tax cost and subsequently the prices.
- Easier intrastate trade: It will be easier for companies to sell their products from state to state without state entry taxes and checkpoints, hence easier transport.
- Better access to cash flows and finance: GST returns and credit entitlements and online submissions ensure greater accountability and can be offered as support evidence when applying for finance.
- Friendlier to start-ups: This is because start-ups will be able to easily enter the market and expand within states because of simplified rules and registration. GST compliance: practical tips
- Record accurately all sales, purchases, credit notes, debit notes, and expenses so that the figures are consistent in books and GST returns.
- The rate of GST and type of tax (whether CGST, SGST/UTGST, or IGST) should be appropriately applied based on whether it is an intra-state supply or an inter-state supply.
- ungalow> File returns such as GSTR-1, GSTR-3B, and annual returns on time to avoid interest charges, late fees, and input tax credit disruption.
- Reconcile input tax credits on a regular basis by ensuring that the invoices uploaded by suppliers are accurately reflected on the GST portal so that valid credits are not blocked.
- Whenever the cost of the transported merchandise surpasses the threshold value (generally ₹50,000), the e-way bill has to be raised.
