Goods and Services Tax and Services Provided By Tax Consultants in GST

Goods and Services Tax is an indirect tax that was introduced in India in 2017. This tax
law has five slabs and is meant to substantially simplify the tax process. The goods and
service tax is levied from the production process until the stage of the consumer buying
goods and services in India. This tax is the most important tax that needs to be paid by
businesses in India and so tax consultants need to be prepared to provide their clients
various types of services related to the good and services tax. The following are some of
the details of the goods and services tax and the services provided by tax consultants for
GST:

Goods and Services Tax

Goods and Services Tax was introduced in India to simplify the indirect tax
process. GST Consultants in Delhi and other cities help their clients
understand the basic concepts of GST and how the tax has to be paid under the
new law. The GST tax law removes the cascading tax effect and has raised the
threshold for tax registration. There are lesser compliances under the GST law
and it is logistically more efficient. GST was introduced to regulate in the Indian
economy better and also bring the unorganized sector into the organized
economy. Many tax state and central laws were abolished to make GST the only
major law for indirect taxes in India.

GST Services Offered By Consultants in India

Most chartered accountancy firms that GST services in Delhi and other major
cities offer guidance for the entire process of GST. This includes various services
like GST advocacy and also accounting services needed to formulate the GST
Tax. GST services include a short term as well as long term tax planning to avoid
potential problems and also bottlenecks that can arise in the future. The
consultants plan the GST tax payment in such a way that the payments are done
in such a way that the clients can save tax money in the long term. Other services
include regulatory and procedural compliances including online payment of GST
tax.

Small and medium businesses, as well as large businesses, all rely on GST tax
consultants to handle the tax compliances and procedures in an effective way. GST is a
new law and understanding the minute details of the law is important to follow the law
in an effective and legal way. Hiring GST consultants are the right choice for following
the new tax law in India.

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