GST Services

GST registration in India is compulsory for businesses above a particular turnover category; however, there are situations where GST registration is compulsory for persons or organizations who are involved in the supply of goods or services all over the state. GST Registration is done online either under the GST composition scheme or as a normal taxpayer based on your turnover. 

GST registration brings with it numerous benefits like:

• Single tax payment
• Reduced tax burden
• Input-tax credit
• Increased productivity and boost to the economy

MentorisCorp simplifies the GST registration process for our clients so that they do not make any mistakes in this initial stage which is complicated. We help our clients by providing:

• One to one consultation with clients to understand their business and type of registration required.
• Preparing documentation
• Uploading documents on the GST registration portal
• Generation of a token number
• Clients unique GST registration number

While moving on to the GST regime, the transitional provisions are very critical as they serve as a blueprint for existing operations and contracts while enabling the enactment of GST laws. The transitional provisions are very comprehensive and cover several aspects of transactions that are helpful during the layover process and can be done smoothly with the help of professionals.

Our team at MentorisCorp enable this transition by:

• Implementing changes/devising systems in business processes for billings, making payments, receiving advances, etc.
• Evaluating the eligibility of GST input tax credits.
• Providing guidance on availability and set-off of credit under GST.
• Assistance in preparing and uploading various statutory transition forms
• Advising clients in matters of negotiations with their vendors, customers regarding the terms of their contracts.
• Preparing and updating of compliance SOP’s.

The transition from existing operations does bring some hardships and hitches, but with our expertise to provide continuous improvement in your operations and providing corrections at every step of progression we make it easy for our clients to realign their operations seamlessly.

MentorisCorp advises clients on the realignment of operations by:

• Identifying and recognizing alternate business models to optimize input tax credits.
• Evaluating the identified business models on the basis of the tax costs
• Identify the risks in the use of new business models involved and suggesting best mitigating strategies
• Providing assistance in the finalization and implementation of the business model after discussion with the client’s company management.
• Preparing GST manuals/SOP’s for quick and easy reference.

Our GST experts provide professional services in various GST related matters. Our team provides you with the necessary support to manage GST more effectively and efficiently.

We provide our advisory services on GST by:

• Analyzing the impact of GST provisions on business operations.
• Regularly updating clients with changes in tax rates and updated provisions as applicable for their business.
• Evaluating and advising clients on the impact of GST on outward supplies, goods, and services.  
• Assisting clients in the valuation mechanism of GST including stock supplies, discounts, free samples, incidental supplies, etc.
• Analyzing the tax credits position of the organization it’s set-off and restriction criteria for the benefit of our clients.

GST tax laws may have several interpretations which may lead to disagreements between the tax departments and taxpayers leading to litigations. Our team is very experienced and proficient in this subject and can deal with the tax authorities at various levels. MentorisCorp’s area of practice in litigation handling includes:

• Representation before the tax authorities.
• Replying appropriately to department notices/orders.
• Replying to show cause notices.
• Filing appeals before the tax authorities.
• Alternate dispute resolution by using the best legal course of action.
• Assisting the clients by arranging regular meetings and follow ups.

A periodic review of the organization’s data from the GST perspective helps to identify any gaps in compliance and also enables tax savings. MentorisCorp’s data/records review exercises identify the areas of tax exposures, non-compliance, and tax savings if any.

The identified gaps are closed by providing necessary recommendations and: 

• Performing due-diligence exercises  
• Reviewing contracts with customers and vendors
• Advising on optimal tax structures

We also provide compliance support services by:

• Preparing and Reviewing GST Returns.
• Providing assistance to review the documents to be filed with the tax authorities like transition stock statements, credit documents, etc.
• Conducting Annual GST Audits as per the prescribed Act.

MentorisCorp provides customized training on GST to various departments of the organization based on organizational needs. We also provide training to customers and vendors of our clients. We conduct workshops for our client’s employees thereby providing them with the knowledge required for daily activities like document preparation, control checks required, etc.

We provide various GST support services including:

• Anti-profiteering Certifications
• GST Planning & Consultancy
• Advising on IT systems functionality for GST purposes
• Preparation of GST Reconciliation, Tax Ledgers and MIS Reports and Follow-up service with suppliers for missing/unmatched tax credits
• E- way bill generation
• Adjustment of taxes (SGST, UGST, CGST& IGST)