GST Registration, Monthly Filing & Indirect Tax Advisory
End-to-End Compliance & ITC Reconciliation in Delhi, Noida, Gurgaon, Bangalore & Mumbai
At Bhavya Sharma & Associates, we approach Goods and Services Tax (GST) compliance as a critical component of corporate governance. For businesses operating in Delhi NCR, Bangalore, and Mumbai, the dynamic nature of GST laws—specifically regarding Input Tax Credit (ITC) eligibility and E-Invoicing mandates—requires diligent professional oversight. Our team of Chartered Accountants and Tax Professionals provides comprehensive indirect tax support, from obtaining the Goods and Services Tax Identification Number (GSTIN) to managing monthly regulatory filings and representing clients during departmental assessments. We assist organizations in maintaining strict adherence to the CGST/SGST Acts, ensuring tax liabilities are calculated accurately and compliant with current notifications.
We offer the following services:
1. GST Registration & Amendment Services
Scope of Practice: Advisory on applicability of registration (Turnover thresholds/Inter-state trade) and filing application (Form REG-01) for Proprietorships, Private Limited Companies, and LLPs.
Multi-State Compliance: Facilitating “Principal Place of Business” and “Additional Place of Business” registrations for entities expanding operations from Delhi to Bangalore or Mumbai.
Virtual Office Support: Assisting remote-first startups with documentation for Authorised Place of Business (APOB) requirements.
2. Monthly Filing & ITC Reconciliation
Scope of Practice: Preparation and filing of GSTR-1 (Outward Supplies) and GSTR-3B (Monthly Summary).
Compliance Focus: We conduct a rigorous GSTR-2B vs. Purchase Register reconciliation prior to filing. This process is essential to identify mismatched invoices, ensuring clients only claim eligible Input Tax Credit and avoid interest penalties under Section 50.
3. GST Refunds & Export Compliance (LUT)
Scope of Practice: Filing Letter of Undertaking (LUT) for Exporters of Services (Zero-Rated Supplies) and processing GST Refund applications (Form RFD-01) for accumulated ITC or inverted duty structures.
Sector Focus: Assisting IT/ITES and SaaS companies in Gurgaon and Bangalore with export documentation and FIRC mapping.
4. Annual Returns & Litigation Support
Scope of Practice: Filing Annual Returns (GSTR-9) and Reconciliation Statements (GSTR-9C).
Departmental Representation: Drafting professional responses to Show Cause Notices (Form ASMT-10, DRC-01) and representing the client before GST Authorities in Delhi and Mumbai regarding scrutiny assessments or suspension of registration.
Frequently Asked Questions regarding GST Regulations
Q1: What is the mandatory threshold for GST Registration?
Direct Answer: As per current regulations, GST registration is mandatory for service providers with an aggregate annual turnover exceeding ₹20 Lakhs (₹10 Lakhs in Special Category States). For suppliers of goods, the limit is generally ₹40 Lakhs. However, mandatory registration applies irrespective of turnover for businesses engaged in Inter-state taxable supply or selling through E-commerce operators.
Q2: Why is GSTR-2B reconciliation important before filing returns?
Direct Answer: Input Tax Credit (ITC) can only be claimed if the supplier has furnished details in their GSTR-1, which then reflects in the recipient’s GSTR-2B. Claiming ITC in excess of what is reflected in GSTR-2B serves as a red flag to the department. At Bhavya Sharma & Associates, we perform monthly reconciliations to ensure the credit claimed in GSTR-3B matches the GSTR-2B statement, mitigating the risk of demand notices.
Q3: What are the professional charges for Monthly GST Compliance?
Direct Answer: Our professional fee structure is determined by the volume of transactions (invoices) and the complexity of the business model. For early-stage startups with limited transactions, retainers typically start from ₹25,000 – ₹35,000 per month. This scope includes return filing, challan generation, and monthly tax advisory for clients in Noida, Gurgaon, and Bangalore.
Q4: Can a cancelled GST registration be revoked?
Direct Answer: Yes. If a GST registration is cancelled suo moto by the proper officer (usually due to non-filing of returns for 6 months), an application for Revocation of Cancellation (Form REG-21) can be filed within the prescribed time limit. This requires the payment of all outstanding tax dues, interest, and late fees prior to submission.