Since Goods and Services Tax (GST) has rolled in, it has certainly put businesses through winger. Reason being they are not comfortable with postulates of GST Portal and sometimes the computer as well.
Whereas the GST tax regime needs to be managed and handled in an effective way. This is where businesses most certainly need a GST practitioner. Some general Tax and Accounting professionals that are engaged to file returns of firms and individuals like Chartered Accountant (CA), Sales Tax Practitioner (STP) and Advocates.
Let us see go through activities of a GST Consultant like how can he be valuable to your business:
- File an application for new GST registration
- File an application for modification or cancellation of registration
- Provide details of outward and inward supplies
- Provide monthly, quarterly, annual or final GST returns
- Make payments for credit into the electronic cash ledger, i.e. payments for tax, interest, penalty, fees or any other amount
- File a claim for refund
- Denote the taxable person in any proceeding under the Act, other than inspection, search, seizure, and arrest
- File an appeal to the First Appellate Authority
- File an appeal to the Appellate Tribunal (can only be done by a CA/CS/ICWA/Advocate)
So that you do not get tricked, there are certain guidelines to see if you have found a genuine GST Consultant:
- Must have filled GST Practitioner forms:
- Form GST PCT-1: Application for Enrolment as Goods and Service Tax Practitioner.
- Form GST PCT-2: Enrolment Certificate for Goods and Service Tax Practitioner.
- Form GST PCT-3: Show Cause Notice for disqualification
- Form GST PCT-4: Order of rejection of an application for enrollment or disqualification of a GST practitioner found guilty of misconduct.
- Form GST PCT-5: Form for Authorization/withdrawal of authorization of Goods and Service Tax Practitioner.
- Must have qualified educational and work criteria as mentioned below:
- He/she should be a retired officer of Commercial Tax Department of any State government or of the Central Board of Excise and Customs (CBEC). Moreover, he/she should have acquired a post of not lower in rank than of a Group-B gazette officer for not less than 2 years.
- He/she has been enrolled as an STP or tax return preparer under the existing law for a period of not less than 5 years.
• Has the following degree or qualification:
- A graduate or postgraduate degree or its equivalent examination having a degree in Commerce, Law, Banking including Higher Auditing, or Business Administration or Business Management from any Indian University established by any law for the time being in force; or
- A degree examination of any Foreign University recognized by any Indian University as equivalent to the degree examination having a degree in Commerce, Law, Banking including Higher Auditing, or Business Administration or Business Management; or
- Any other examination notified by the Government, on the recommendation of the Council, for this purpose; or
• Has passed any of the following examinations:
- Final examination of the Institute of Chartered Accountants of India;
- Final examination of the Institute of Cost Accountants of India;
- Final examination of the Institute of Company Secretaries of India.
We have tried clearing doubts about work activities and eligibility for a GST Consultant. Let us focus on the main framework, i.e. why do you need a GST Consultant?
The answer to same is quite crystal clear. The avant-garde here is you will not have to solve the complexity of GST all by yourself including other tax-related matter. Other flavors that are included:
- Timely filing of GST to avoid tax penalties
- One-stop solution for all GST-related queries in India.
- Maintaining tax-related activities in a professional way
- Understanding various aspects of GST that may occur in future
In the above article, though we have tried to give the lowdown, we would like to conclude to engage yourself with a genuine GST Consultant. The consultant will be one-stop solution to all your queries and you can relax while your issues will be handled by an expert.
Note – Please note that the above article is for education purpose only. This is based on our interpretation of laws which may differ person to person. Readers are expected to verify the facts and laws