Tax Compliance, Including Registration With The Tax Authorities
Drafting monthly GST returns
At SPD Consulting Pvt Ltd, we help our clients with filing monthly GST returns and ensure that they maintain tax compliance.
The business entities with GST and TIN registration need to file their GST return every month to avoid penalty. As the implementation of GST is governed by the state government, the due date of return and payment varies in every state. Businesses can file GST returns in different modes, whether monthly, quarterly, or annually.
SPD Consulting Pvt Ltd can help you file the return as our competent staff works on your documents to comply with the regulations of GST. Businesses with annual sales beyond five lakhs or ten lakhs in some states need to file GST returns and we are here to facilitate the process.
Due date of GST filing
Companies need to file GST returns on the 20th of every month. Primarily, business entities with the status of Companies need to file GST returns every month. Each state follows a different regulation of filing GST returns depending on the goods they sell.
How we help with GST return filing
- Our experts will collect essential information and documents for preparing the GST return.
- Once we receive the documents of the business, we will move ahead with the GST return and look forward for approval from customers.
- After the approval and verification of the return, we file it with the sales tax department.
Online GST return filing
We also assist with online GST return filing to expedite the process.
- Every business needs to keep the TIN ready to start the e-filing of monthly GST returns.
- The users must also have a user ID and password to login for the process of GST return filing.
- You must install software after downloading it from the site Directorate of Commercial Taxes once you login to the system.
We help our clients to follow the steps of e-filing GST returns and make the procedure seamless. Our experts can also handle the work of online GST return filing to ensure your tax compliance record remains uninterrupted.
Preparation Of Monthly VIES And Intrastate Reports
SPD Consulting Pvt Ltd also assists in filing VIES returns, which applies to businesses that sell outside the EU states. The suppliers selling their services and goods to any other country of EU can apply zero rating to the.
However, the suppliers cannot abuse the zero rating structure and needs to prepare reports with the inclusion of GST numbers of customer and the value of the goods and service they supply. The tax authorities of the European Union and other relevant authorities share the information to ensure the correctness of zero rating. Typically, the return includes the GST numbers of all the customers present in other EU countries.
What SPD Consulting Pvt Ltd offers to customers?
- We help businesses to perform the steps that help them to verify that the customer has GST registration and whether it is valid or not.
- Businesses selling goods and services in other EU countries or purchase supplies from EU countries, it is necessary to file VIES return.
- Help customers can file the GST return online
- Businesses selling to other EU businesses can streamline the reporting.
Intrastate reports
Businesses with GST registration carrying out trade operations with other EU states need to declare information depending on the value of imports and exports. Businesses can stay within the threshold of exemption or go above the threshold. Filing the returns also depends on threshold for every calendar year. SPD Consulting Pvt Ltd helps customers to file Intrastat returns conveniently.
- We help customers understand the process of filing Intrastat returns every month.
- Our customers can understand the significance of supplementary declaration in Intrastat reports.
- We guide businesses how to go ahead with Intrastat declarations when the dispatches and arrivals exceed the threshold.
Corporate Income tax calculation
Businesses in India have to pay corporate tax although it depends on various slabs. There are three different types of corporate taxes.
- Fringe benefit tax
- Dividend distribution tax
- Minimum alternative tax
SPD Consulting Pvt Ltd offers a wide range of services for businesses that need to pay corporate tax.
- We help companies estimate the annual profits based on budget.
- Calculation and deposition of Advance Tax that businesses must pay to the Revenue Authorities based on the estimation of profits in the four quarters of business and the financial year begins from April 1.
- Assisting companies in filing and preparation of Fringe Benefit and Annual Tax return with the Revenue Authorities.
- Preparation of relevant information that auditors require under the disclosure of tax audit and the report of transfer pricing.
- For assessment of tax and scrutiny, we assist in preparing information that tax authorities need.
- Corporate tax planning for long or short-tern business in India.
- Assisting in corporate tax compliance and advisory services for withholding tax and compliances.
- Assisting companies with filing income tax returns and matters of corporate compliance.
Advance tax installments
The payment of income tax in advance is to be made in installments according to the dates the income tax departments provide and the following can pay this amount.
- Salaried individual and freelancers with tax liability exceeding 10K or more in a financial year.
- Businesses under presumptive taxation scheme under section 44AD can pay the tax amount in s single instalment on or before March 15.
- Independent professionals such as lawyers and doctors can be included under Presumptive tax scheme and pay advance tax in a single instalment on or before March 15.
- The entities paying advance tax under presumptive scheme can also pay the entire amount by March 31.
- Corporate taxpayers and those individuals or professionals under the presumptive tax scheme need to follow the tax slabs before paying the amount.
At SPD Consulting Pvt Ltd we have experts to assist you for paying the advance tax.
- We help you know the due dates for payment of advance tax in a financial year.
- We also handle queries of individuals and businesses regarding the payment of advance tax.
- Our experts can also assist you with online payment of income tax.
Preparation of withholding tax returns
Withholding tax is a preference of the government for those who pay any items income and allow them to withhold or deduct tax from the payment to be paid to the government. The payments can be for salaries, contracts, rent, professional services, and commission. It is necessary for people to follow the present tax regime on withholding tax.
SPD Consulting Pvt Ltd provides assistance to clients for the preparation of withholding tax returns.
- We helps clients to know the withholding tax rates for payments made to non-residents according to the Finance Act.
- Our motto is to help businesses with complex issues of withholding tax.
- We assist companies prepare the returns of withholding tax and help them resolve the complications to remain tax compliance a regular issue.
- The extensive knowledge base of our experts allow them to give their opinion on issues in withholding tax.
Timely filing of tax returns
The Central Board of Direct taxes or CBDT has come forward with a new notification regarding the ITR forms for the assessment year 2020-21. Those who file income tax in lieu of the money earned during 2019-20 must use the new ITR forms.
- Resident individuals with total income not exceeding fifty lakh can use ITR-1 Sahaj.
- Resident individuals, firms, and HUF’s with income exceeding fifty lakh and earning presumptive income from profession or business can use ITR-4 Sugam.
- ITR -1 form is only valid for individual taxpayers who own house properties jointly, have paid electricity bills amounting to one lakh, or incurred one or two lakhs on electricity or foreign travel.
SPD Consulting Pvt Ltd ensures that individuals, professionals, or businesses filing income tax returns use the right form meant for them and deliver it to the relevant authorities within the stipulated deadline. The company also considers the complications that arise during the filing of tax returns and resolves the crisis smoothly.
Liaison with the tax authorities
Businesses or individuals receiving notice from tax authorities are not sure about responding to it properly. SPD Consulting Pvt Ltd is one of those companies that employ experts who are qualified enough to liaison with the tax authorities.
- We help in drafting correct replies for letters you receive from the income tax department.
- If your sales tax issues with the authorities fail to resolve, we can deliver you from the crisis.
- Businesses or individuals presently under the prying eyes of the tax authorities while dealing with tax issue every year can seek our representation.
- Whether it is dealing with state or central tax department, our experts are qualified enough to assist you.
- Our experts knows the documents and information that relevant tax authorities need for entities currently under scrutiny of tax department.
- The professionals in our company have the competence needed to speak to the tax authorities.
- Whether you are an individual or corporate taxpayer, we can help you figure out the issues as soon as you receive a call demanding submission of documents or asking for payment.
Our clients can enjoy peace of mind as we assist in resolving tax issue while dealing with the tax department.