Indirect Tax

Indirect Tax (GST)

The goods and services tax (GST) is a value-added tax levied on most goods and services sold for domestic consumption. It is an indirect tax which has replaced many indirect taxes in India such as the excise duty, VAT, services tax, etc. The GST is paid by consumers, but it is remitted to the government by the businesses selling the goods and services. In other words, the Goods and Services Tax Law in India is a comprehensive, multi-stage, destination-based tax that is levied on every value addition.
A changeover to GST is bound to impact the tax structure, tax incidence, tax computation, tax payment, compliance, credit utilization, and reporting, leading to a complete overhaul of the current indirect tax system followed by the company.
We at RichieBizz Advisors, study the far-reaching impact of GST on almost all the aspects of the business operations for our clients, i.e pricing of products and services, supply chain optimization, IT, accounting, and tax compliance systems. Our team makes sure to assist all our clients in deciphering GST impact and identifying risk areas and sustainable planning opportunities.

Our GST services encompass the following :

GST Refund

Ensuring GST return of any amount returned by the government that was paid by the client either in excess or was not liable to be taxed.

GST Compliance

Evaluating the performance ranking of the clients to understand how compliant they are with the tax department.

GST Return filing

Assisting the clients to prepare documents which they are required to file with the tax administrative authorities to calculate tax liability.

GST & Stock Audit

Auditing the inventory by the process of cross-checking financial records with physical inventory and records.

Advisory

Advising on transactions of clients from an Indian tax perspective in terms of the various taxes applicable and tax benefits available.

Regular Check

Conducting Health Check/Credit reviews to identify planning opportunities available.

Appeal & Assessment

In the real world, Litigation and compliance issues are potential risk areas. We help clients mitigate these issues by doing complete, accurate and exhaustive submissions to the authorities and ensure that all our clients avoid or at least reduce litigation. We strive to simplify key issues when it comes to taxation

In the case of Litigation in the past, RichieBizz Advisors has represented clients at all stages of proceedings. Our expertise has been built out of decades of combined experience and each matter is handled prudently. This has led to us gaining respect amongst the authorities as well. We make sure our clients are well defended and are always backed by talented and dedicated support staff.

U

Undertake a comprehensive review of the client’s existing business transactions, contracts, sourcing policies, pricing, and distribution policies and analyze the GST implications on these.

b

Assistance in customizing SAP / other IT platform to obtain the data required for periodical compliances under the GST regime.



Providing advisory at the various level of client’s personnel on GST law so as to enable them to re-align and restructure their business processes and IT system.

Z

Advisory on the information/data required by the client for GST compliance.



Assistance in customizing SAP / other IT platform to obtain the data required for periodical compliances under the GST regime.



Providing advisory at the various level of client’s personnel on GST law so as to enable them to re-align and restructure their business processes and IT system.

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Over the past few years, we have devised a wide range of specialized, multi-disciplinary professional services that meet the immediate as well as the long-term business needs of clients.