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GST Consultants in Chennai Goods and Services Tax (GST) is an indirect tax reform which aims to remove tax barriers between states and create a single market. For that to happen the constitution first needs to be amended to remove different layers of governments' exclusive powers to levy taxes. How will GST help? Goods and Services Tax (GST) is an indirect tax reform which aims to remove tax barriers between states and create a single market. For that to happen the constitution first needs to be amended to remove different layers of governments' exclusive powers to levy taxes. Once this step is taken, the tax barriers between states, and centre and states will disappear. How will it help consumers? In GST, consumers should benefit in two ways. First, all taxes will be collected at the point of consumption. It means that if a shirt is taxed at 18%, it will include both central government's taxes and state government's taxes. Transparency in taxation should deter governments from indiscriminately increasing taxes as there is bound to be public backlash. Second, once barriers between states are removed, we as consumers will not end up paying "tax on tax" which is what happens when goods move across state borders. Taking a cue from international best tax practices, and to ease out the complications and compliances under different indirect taxation laws and different statutory authorities, thought process was started to consolidate number of taxes in to one system of taxation uniformly across the county. The GST is going to be of following types. 1. SGST (State GST) - to be collected by the State Government 2. CGST (Central GST) - to be collected by the Central Government 3. IGST (Integrated GST) - to be collected by the Central Government. What is the applicable GST rate? The rate (percentage) of GST is not yet decided. As mentioned in the above table, there might be CGST, SGST and Integrated GST rates. It is also widely believed that there will be 2 or 3 rates based on the importance of goods. Like, the rates can be lower for essential goods and could be high for precious/luxury items. Benefits of GST Bill implementation 1. The tax structure will be made lean and simple 2. The entire Indian market will be a unified market which may translate into lower business costs. It can facilitate seamless movement of goods across states and reduce the transaction costs of businesses. 3. It is good for export oriented businesses. Because it is not applied for goods/services which are exported out of India. 4. In the long run, the lower tax burden could translate into lower prices on goods for consumers. 5. The Suppliers, manufacturers, wholesalers and retailers are able to recover GST incurred on input costs as tax credits. This reduces the cost of doing business, thus enabling fairer prices for consumers. 6. It can bring more transparency and better compliance. 7. Number of departments (tax departments) will reduce which in turn may lead to less corruption 8. More business entities will come under the tax system thus widening the tax base. This may lead to better and more tax revenue collections. 9.Companies which are under unorganized sector will come under tax regime.
FSSAI REGISTRATION Description Set up under Food Safety and Standards Act, 2006, The Food Safety and Standards Authority of India (FSSAI) is an agency of the Ministry of Health & Family Welfare, Government of India. The agency is responsible for the protection and promotion of public health by continuous inspection and regulation of food safety. The primary objective of FSSAI is to lay down science based standards for articles of food and to regulate their manufacture, storage, distribution, sale and import to ensure availability of safe and wholesome food for human consumption. Obtaining a FSSAI certificate has now become mandatory for all manufacturers, traders, restaurants and all those involved in food business, commonly known as Food Business Operators (FBOs). We offer complete end-to-end support to FBOs in obtaining FSSAI License in the minimum time frame so that they can start their business endeavor comfortably. From filling the FSSAI application form to obtaining the right license, our FSSAI experts will guide you on the Licensing procedures & provide solutions to all your queries. Who should have FSSAI License? o Hotels o Restaurants o Food Chains o Packaged Food Manufacturers o Food Sellers and Re-sellers o Canteens in Corporate Companies, Schools, Colleges, Hospitals, Government Institutions o Food Importers and Exporters o Raw Material Suppliers to Food Businesses Features of FSSAI License Single-point Access – By obtaining FSSAI License, you will get single point access to all laws and departmental controls. IEC code holder does not require filing of any returns. High Consumer Confidence – Having a proper food license in the back, you can easily take your customers into confidence. It paves the way for high degree of consumer confidence in quality & safety of food. Unified License – A single license is sufficient to control one or more articles of food and for different establishments or premises in the same local area. Documents Required Proprietorship 1. PAN Card 2. ID Proof – any 2 (Voter ID or Passport or Driving License, Aadhaar Card or Bank Passbook with photograph) 3. Address Proof – any 2 (Voter ID or Passport or Gas Bill or Bank Statement) 4. Bank Account authentication Details (Cancelled Cheque) 5. Registered Office Address Proof Electricity Bill along with Rental Agreement 6. Three photographs Partnership Firm 1. PAN card of all partners 2. ID Proof of partners – any 2 (Voter ID or Passport or Driving License, Aadhaar Card or Bank Passbook with photograph) 3. Address Proof of partners – any 2 (Voter ID or Passport or Gas Bill or Bank Statement) 4. Bank Account authentication Details (Cancelled Cheque) 5. Registered Office Address Proof Electricity Bill along with Rental Agreement 6. Three photographs of all Partners 7. Partnership deed 8. Company Pan card copy Private Limited Company 1. Company Pan card copy 2. PAN card of all directors 3. ID Proof of directors – any 2 (Voter ID or Passport or Driving License, Aadhaar Card or Bank Passbook with photograph) 4. Address Proof of directors – any 2 (Voter ID or Passport or Gas Bill or Bank Statement) 5. Current A/c Bank Statement last 1 month 6. Registered Office Address Proof Electricity Bill along with Rental Agreement 7. Three photographs of all directors 8. Incorporation Certificate 9. Board Resolution copy for Authorising director 10. List of Products
We are able to offer best quality Tax Consultant Services. We undertake Regulatory compliance such as documents preparations and statutory returns, compilations, and e-filings with the revenue authorities. We also help our clients in the preparation of tax returns so as to ensure compliance with different acts and the other judicial pronouncements. Our services are widely demanded their reliability, flexibility and on-time execution.
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