"Goods and Service Tax is a comprehensive, multi-staged and destination based indirect tax levied on supply of goods and services. Goods and Services Tax Act has come into force w.e.f. July 1, 2017.
GST has three components:
(a) Central GST (CGST) - Levied on intra-state supply of goods or services;
(b) State GST (SGST) - Levied on intra-state supply of goods or services;
(c) Integrated GST (IGST) - Levied on inter-state supply of goods or services"
"Various GST related services offered by DNS & Associates include:
a) GST Return filing- Under GST regime, all registered business entities are required to file their GST returns monthly/quarterly/ annually (as the case may be) based on the turnover of such business entity;
b) GST Audit- There are three types of audit prescribed under GST Act as explained below:
i. Audit by chartered Accountant or a Cost Accountant: Every registered person whose turnover exceeds the prescribed limit, would be required to get his accounts audited by a Chartered Accountant or a cost accountant
ii. Audit by department: The commissioner or any office of CGST or SGST or UTGST authorized by a general or specific order, may conduct audit of any registered person
iii. Special Audit: Department may order a special audit by Chartered Accountant or Cost Accountant, at any stage of scrutiny, inquiry, investigations or any other proceedings, department is of the opinion that the value has not been correctly declared or credit availed is not within the normal limits
c) GST Assessment- Assessment means determination of tax liability under GST. Assessment can be self assesssment by the tax payer or it can ordered by tax authority. Assessment by Tax Authority includes Provisional Assessment, Summary Assessment, Scrutiny of Return and best Judgement Assessment;
d) Other GST related services include assistance in GST registration, advising on SAC (Service Codes) under GST for raising invoices under reverse charge wherever applicable (expenditure) under GST regime, reconciliation and mapping of accounts and records of the company with that of the vendor for any mis-match under GSTIN, hand hold support on key issues and guidance on GST related matters, etc."