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Premium Plan
₹ 5999/onetime
- GST Registration Certificate
- GST Filing for 3 Months
- GST Invoice Format
- E-Way Bill Portal Registration
- Rent Agreement & NOC Drafting for GST Registration
- Online Support/Assistance in bank account opening support
*T & C GST Filing after Receipt of Data
Gold Plan
₹ 9999/onetime
- GST Registration Certificate
- MSME Registration Certificate
- LUT Application ( for exports )
- Import Export Code Registration
- GST Filing for 3 Months
- GST Invoice Format
- E-Way Bill Portal Registration
- Rent Agreement & NOC Drafting for GST Registration Certificate
- Business bank account opening Online support
- PTRC/PTEC Registration
*T & C GST Filing after Receipt of Data
GST Related Services Provided by FAST Solutions
Navigating through the complexities of GST (Goods and Services Tax) filing can be quite challenging. GST represents a comprehensive tax levy on both goods and services, effectively consolidating numerous indirect taxes like excise duty, service tax, and VAT into a singular tax regime in India. This significant overhaul began with the legislation's introduction on March 29, 2017, followed by the enactment of the Goods and Services Tax Act after several essential reforms, coming into force on July 1, 2017, and thereby reshaping the Indian tax landscape.
In essence, GST is charged on the supply of goods and services, functioning as a destination-based, multi-tiered tax system that is applied at every stage of value addition within the country. It acts as a unified domestic indirect tax law, aiming to create a harmonized tax environment across India. For a more in-depth understanding or for assistance with obtaining a new GST registration for your startup, engaging with a GST consultancy in Mumbai could be highly beneficial. Our Team can offer tailored guidance and support throughout the GST registration process and beyond.
Understanding the different categories of the Goods and Services Tax (GST) policy is crucial. The GST framework in India is segmented into three primary types:
- State Goods and Services Tax (SGST): This component of GST is levied by individual state governments on transactions occurring within a single state.
- Central Goods and Services Tax (CGST): Levied by the Central Government, CGST applies to the intra-state supply of goods and services, where both SGST and CGST are charged.
- Union Territory Goods and Services Tax (UTGST): Similar to SGST, but applicable in Union Territories without their own legislature, UTGST is charged alongside CGST on intra-union territory transactions.
- Integrated Goods and Services Tax (IGST): It is a tax levied under the GST regime on interstate (between two states) supplies of goods and/or services, as well as imports and exports. The IGST Act governs the IGST. The Central Government is in charge of collecting taxes under the IGST.
Each of these GST types has its specific tax rate, determined according to the guidelines set by the policy.
GST consultancy services encompass a broad spectrum of assistance tailored to meet various tax-related needs, including:
- Comprehensive Advisory Services: At the forefront, GST consultants offer expert advice on a wide range of topics, primarily focusing on Goods and Services Taxes.
Their advisory extends to customs, foreign trade policies, central excise, service tax, and VAT, ensuring a holistic approach to tax management. - Tax and Credit Optimization: A key service is the optimization of taxes and credits for clients, aiming to enhance financial efficiency and reduce tax liabilities.
- Start-up and E-commerce Guidance: Consultants provide crucial advice on tax compliance and strategic planning for start-ups and e-commerce ventures, facilitating smooth entry and operation in the market.
- Strategic Consultancy for Contracts: For businesses eyeing long-term government and public-sector contracts, GST consultants offer strategic insights and guidance to navigate the complex tax implications and compliance requirements.
- Industry-specific GST Analysis: They conduct thorough inspections of the GST implications for specific clients or industries, devising tailored solutions that best suit the client's unique circumstances.
- Cost Management and Tax Planning: GST consultants play a pivotal role in cost management and strategic tax planning, helping clients minimize their tax obligations through optimized strategies.
- GST Optimization in Contracts: Reviewing and analyzing contracts to identify opportunities for GST optimization is another critical service, ensuring clients' transactions are tax-efficient.
- Value-Added Services: These include the detailed categorization of goods/services for tax purposes, understanding tax rates, and identifying exemption opportunities, further adding value to the clients' tax planning and compliance efforts.
- Ongoing GST Advisory: Consultants provide regular advice on GST matters, keeping clients informed and compliant with the latest tax laws and regulations.
- GST Implementation Support: They assist in the understanding and implementation of the GST regime, ensuring businesses are well-prepared and aligned with GST requirements.
Through these services, GST consultants aim to simplify the complexities of GST compliance, offering businesses strategic advantages in managing their taxes effectively.
Hiring a GST consultant offers numerous advantages, making it a strategic decision for businesses navigating the complexities of GST compliance in India. The key benefits are
- Centralized Point of Contact: A GST consultant acts as a singular point of contact for all GST-related inquiries and registration processes. This centralized approach simplifies communication and ensures that all your GST needs are addressed efficiently under one roof.
- Professional Compliance Management: They ensure that your business stays on top of tax-related responsibilities, adhering to the latest regulations and deadlines. This professional oversight is crucial for maintaining compliance and avoiding regulatory pitfalls.
- Prevention of Penalties: Timely and accurate filing of GST returns is paramount to avoid penalties and interest charges. GST consultants possess the expertise to manage these filings diligently, ensuring that your business meets all tax obligations on time.
- Future-Ready Insights The realm of GST is ever-evolving, with new regulations and amendments introduced regularly. A GST consultant keeps abreast of these changes, providing you with insights and advice on how to navigate future GST challenges effectively. This proactive approach helps in strategic planning and compliance management, safeguarding your business against unforeseen tax liabilities.
Overall, engaging a GST practitioner not only streamlines the GST filing and compliance process but also positions your business advantageously in terms of regulatory adherence and financial optimization.
GST consultants offer a comprehensive array of features designed to streamline and enhance the tax management process for businesses:
Management-Related Services
- Email and Lead Synchronization: Centralizing all email communications and lead management into one cohesive system for efficient tracking and follow-up.
- Sales and Customer Management: Overseeing sales operations and customer relations, including the management of bills and sales orders through an integrated software solution.
Accounts and Expenditure Services
- Financial Oversight: Managing the inflow and outflow of funds, including the meticulous management of ledgers, tax obligations, and overall financial health concerning assets, liabilities, and cash flows.
Business Automation
- Lead Management Automation: Automating the extraction and management of leads, transforming these into actionable appointments, quotes, and invoices, and providing updates through emails or SMS.
- Delivery and Work Strategy: Monitoring the status of deliveries and formulating strategies for pending work.
Invoicing
- Custom Invoicing: Enabling the creation of customized invoices from a selection of templates, including features for automatic currency conversion, recurring invoices, and alerts for due invoices.
Banking and Process Synchronization
- Bank Statement Integration: Facilitating the synchronization of bank statements by importing them directly into the system for simplified financial tracking.
Simplified Procedures and Operations
- Product and Service Management: Offering tools for product and service grouping, customized invoicing with company logos, and support for both retail and wholesale operations.
Tally Importation
- Tally Integration:Allowing for the easy import of Tally Excel files to streamline account management across different time periods.
Purchase Management
- Comprehensive Purchase Oversight: Managing all aspects of purchases, from orders and estimates to bills, returns, and vendor outstanding management.
Access and Usability
- User-Friendly Operations: Providing a platform that supports multiple users with customizable access, automatic backups, and a user interface that simplifies accounting processes.
Multi-Business Support
- Versatile Business Management: Enabling the management of multiple business entities from a single device, offering flexibility and scalability.
Sales Tracking
- Sales Monitoring: Keeping detailed records of sales based on quotes, invoices, and returns, and managing customer balances and recurring invoices efficiently.
Auditor Insights
- Financial Analysis and Consultation: Delivering a comprehensive financial report for audit and analysis, ensuring compliance and optimization of tax-related matters.
GST consultants significantly reduce the complexity of tax registration and management, especially in a vibrant commercial hub like Mumbai. Their expertise is invaluable for manufacturers, service providers, and new businesses navigating the intricacies of GST compliance, from registration to claiming input tax credits across various tax slabs and categories. With their help, businesses can efficiently manage monthly filings and audits required for obtaining input tax credits, ensuring compliance and financial optimization.
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Why FAST Solutions
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Personalized Attention
with Tailored assistance throughout filing process.
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with maximized refunds and no hidden charges.
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with Data privacy and adherence to legal guidelines.
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Excellent Customer Support
Monday to Saturday 10AM to 6PM.
- We offer a hassle-free online GST registration process, with complete guidance from our experienced legal representatives.
Advantages of GST Return Filing
Ease and Flexibility
Online GST return filing offers easy access and flexibility, ensuring financial transactions remain accountable and manageable.
Simple Procedure
Using FAST Solutions simplifies filing GST returns, requiring a list of receipts, invoices, and bills for in-house experts to handle.
Organized Procedure
GST brings Transparency in return Filing of Organizations, enhancing accountability and regulation across industries.
Subsuming of Taxes
GST reduces filings, benefiting small entities and providing a unified tax regime for compliance.
Avoiding Unnecessary Fines
Timely GST return filing prevents fines, penalties, recovery, suspension of GSTIN, and strict consequences.
Taxpayer’s Credibility
Proper and timely GST filing improves taxpayers' credibility for obtaining loans from financial institutions.
No Cascading Effect of Tax
GST eliminates the tax-on-tax impact, reducing costs and increasing transparency in the tax system.
Ease of Doing Business
GST streamlines tax compliance, reducing administrative burdens and costs for businesses.
Type of GST Return
There are separate GST returns required to be filed in various cases depending on your nature of work or registration type which are discussed below
Return Form
Description
GSTR-1
Statement of Outward Supplies made
Frequency:
Monthly
Quarterly (If opted under the QRMP scheme)
Due Date:
11th of the next month
13th of the month succeeding the quarter
GSTR-3B
Inward and Outward supply summary
Frequency:
Monthly
Quarterly
Due Date:
20th of the next month
22nd or 24th of the month next to the quarter
GSTR-9
Annual GST Return
Frequency:
Annually
Due Date:
31st December of next financial year
GSTR-9C
Reconciliation Statement
Frequency:
Annually
Due Date:
31st December following the financial year end
GSTR-10
Final GST return
Frequency:
Once, when GST registration is Cancelled or surrendered
Due Date:
Within 3 months of the date of cancellation or date of cancellation order, whichever is later
GST (Goods and Service Tax) - Overview
The Goods and Services Tax (GST) is a type of tax on the consumption of goods and services in countries, collected by businesses from consumers and paid to the government.It was introduced officially in India on 1 July 2017, replacing the earlier system of multiple taxes, such as excise duty, service tax, and value-added tax (VAT).
The 101st Constitutional Amendment / One Hundred and First Amendment Act, 2016 of the Constitution of India is a significant piece of legislation that has had a prominent impact on the Indian economy. It was passed in 2016 to introduce the Goods and Services Tax (GST), a value-added tax (VAT) that has simplified the tax system and boosted economic growth. This constitutional amendment was introduced as a nationwide Goods and Services Tax (GST) concept in India.
GST registration is mandatory for all businesses with an annual turnover of more than ₹40 lakhs (₹ 20 lakhs for businesses in special category states).
Know about GST registration in a clear and easy way. Get the details on the process, steps, and required documents. Check your registration status and make sure you're on track to meet deadlines. Contact us today to learn more!
What is GSTIN?
GSTIN stands for Goods and Services Tax Identification Number. It is a unique 15-digit number assigned to every taxpayer registered under the GST regime in India. The GSTIN is used to identify taxpayers and to track their transactions.
The GSTIN is structured as follows:
- The first two digits represent the state code.
- The next ten digits are the PAN card number of the taxpayer.
- The thirteenth digit is an entity code used to distinguish between different types of taxpayers.
- The fourteenth digit is a fixed alphabet 'Z'.
- The fifteenth digit is a check digit, which is used to verify the accuracy of the GSTIN.
What is the GSTN (Goods and Service Tax Network)?
The Goods and Services Tax Network (GSTN) is a non-profit, non-government organisation that provides the shared IT infrastructure and services to the Central and State Governments, taxpayers and other stakeholders to implement the Goods and Services Tax (GST) in India.
The GSTN is responsible for developing and maintaining the GST portal, which is the online platform that taxpayers use to register for GST, file returns, and make payments.
The GSTN also provides several other services, such as:
- E-invoicing
- E-way bill
- Input tax credit reconciliation
- GST compliance reporting
The GSTN is a critical component of the GST system in India. It provides the IT infrastructure and services that enable taxpayers to comply with the GST laws and the government to administer the GST system.
What is a GST Certificate?
A GST certificate is a document issued by the Government of India to a taxpayer or entity that has registered under the GST system. It is proof of registration and authorises the taxpayer to collect GST from customers on behalf of the government.
The GST certificate contains the following information:
- GST Identification Number (GSTIN)
- Name of the taxpayer
- Address of the taxpayer
- Date of registration
- Type of registration (regular, composite, or non-resident)
- Business category
- Signature of the authorised officer
The GSTN is a critical component of the GST system in India. It provides the IT infrastructure and services that enable taxpayers to comply with the GST laws and the government to administer the GST system.
Components of GST
The components of Goods and Services Tax (GST) in India are:
Central Goods and Services Tax (CGST)
This is levied by the central government on all intra-state and inter-state supplies of goods and services. The CGST rate is the same for all states and union territories.
State Goods and Services Tax (SGST)
This is levied by the state government on all intra-state supplies of goods and services. The SGST rate varies from state to state.
Integrated Goods and Services Tax (IGST)
This is levied by the central government on all inter-state supplies of goods and services. The IGST rate is the sum of the CGST and SGST rates.
Union Territory Goods and Services Tax (UTGST)
This is levied by the central government on all supplies of goods and services made within a union territory. The UTGST rate is the same as the SGST rate.
| Type of transaction | CGST | SGST | UTGST | IGST |
|---|---|---|---|---|
| Intra-state supply of goods and services | Yes | Yes | N/A | N/A |
| Inter-state supply of goods and services | N/A | N/A | N/A | Yes |
| Supply of goods and services from a state to a union territory | Yes | N/A | N/A | N/A |
| Supply of goods and services from a union territory to a state | N/A | Yes | N/A | N/A |
Who Needs a GST Registration Service?
- Any individual or business entity that carries out taxable supplies of goods or services
- Annual turnover of the business exceeds the prescribed threshold limit (currently ₹20 lakhs for most businesses)
- E-commerce operators that facilitate the supply of goods and services through their platform
- Non-resident taxable persons who occasionally supply goods or services in India
- Businesses that are involved in inter-state supply of goods or services
- Input service distributors who distribute input tax credit to their branches or units
- Casual taxable persons who supply goods or services occasionally in India
- Businesses that were previously registered under the old tax regime (VAT, Service Tax, etc.) and have migrated to GST.
Objectives of GST
The objectives of the Goods and Services Tax (GST) in India are to:
Create a unified and simplified tax system
GST is a single tax that replaces multiple indirect taxes levied by the central and state governments. This makes it easier for businesses to comply with tax laws and reduces the cost of doing business.
Eliminate the cascading effect of taxes
The cascading effect of taxes occurs when a tax is levied on a product or service that already includes other taxes. This can lead to higher prices for consumers. GST eliminates the cascading effect of taxes by allowing businesses to claim input tax credits on the taxes paid on their inputs.
Promote economic growth and development
GST is expected to boost economic growth and development in India by creating a single market for goods and services. This will make it easier for businesses to trade across state borders and will lead to lower prices for consumers.
Increase tax revenue
GST is expected to increase tax revenue for the government by widening the tax base and reducing tax evasion. This will help the government to fund essential public services.
Documents Required For GST Registration
| Business type | Required documents |
|---|---|
| Individual | PAN card, Aadhaar card, bank account statement or cancelled cheque, passport-size photograph |
| Partnership | PAN card of the firm, partnership deed, Aadhaar cards of all partners, bank account statement or cancelled cheque, passport-size photograph of one partner |
| Company | PAN card of the company, company incorporation certificate, Memorandum and Articles of Association, Aadhaar card of the authorised signatory, bank account statement or cancelled cheque, passport-size photograph of the authorised signatory |
| Non-resident | PAN card of the non-resident, passport, Aadhaar card or any other proof of address, bank account statement or cancelled cheque, passport-size photograph |
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GST Registration FAQ’s
1. What is book keeping?
Bookkeeping is the recording of financial transactions, and is part of the process of accounting in business. Transactions include purchases, sales, receipts, and payments by an individual person or an organization/corporation. There are several standard methods of bookkeeping, including the single-entry and double-entry bookkeeping systems. While the most widely and commonly used method is of double-entry bookkeeping systems.
2. What is GST Return
Under GST LAW, every business whether it be small or large has to file certain returns. These returns are filed to pay taxes/ providing data to government relating to the transactions made by the business during the period under consideration.
3. What is Book Keeping Plus Gst Filing?
These are bundle services provided by SUPER CA in which the dealer has to upload sales bill, purchase bill and bank statement for the period under consideration. Then within the span of 2 days, the Personalized GST Accountant will call the dealer giving them a brief of the sales and purchase made during the month together with the calculation of the GST Payable (if any) based on the bills uploaded by the dealer.
4. How Do These Bundled Services Help the Business?
The entrepreneur can choose a plan according to the number of the transaction expected in a month. Moreover, these plans are designed to provide support to entrepreneurs as in the month of less transaction a business can opt for a smaller plan. This will help the business in less cash flow in the month of lesser turnover.
5. If the business chooses a smaller plan and turnover exceeds than the plan opted?
In such a situation an option to upgrade a plan will be provide by our concerned technical staff. The entrepreneur just needs to call/ email to Personalized GST Accountant.
What Clients say about FAST Solutions
Very professional and helpful.Over and above one of the brilliant accounting firm with excellent staff and the owning partners of the firm . Always there to render any support or advise one needs...
Sudha Takoo
It has been the most assuring journey with Fast Solution. Teams dedication and their continuous efforts to thrive for new learning and possibilities is commendable. Good luck team Fast Solution.
Lopa Khade
Very well guided services, excellent & efficient team. Need not to worry about due dates and timelines. Absolutely Tension free and hassle free experiences with FAST Solutions.
Sahil Shah
Extremely Professional CA firm. I have been associated with FAST Solutions for more than eight years. Everyone at this firm has been very approachable and helpful. I highly recommend their services to anyone in need of GST and Tax filing
Sunil Kumar
FAST Solutions provided an exceptional experience for my income tax filing. Their efficient service, knowledgeable staff, and quick turnaround time made the entire process hassle-free. I highly recommend FAST Solutions for anyone looking for a reliable and trustworthy option to handle their income tax filing needs.
Victorian Lobo
Great team and experience. They been filling my returns for over 5yrs and as an overseas citizen they are brilliant in making sure I do not miss deadlines and even ensure that my stay in India is complaint with tax. Provide unbiased advice and have a great team.
Priya Pal
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GST Registration Starts from ₹2,950
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