Why hiring a Tax Consultant?
If you're looking for a Tax Consultant, you can count on Taxcom for high-quality
and professional services.
For both Indian and foreign companies having businesses in India, paying Goods
and Services Tax (GST) is one of the most importation obligations. Failing to
comply with GST provisions can attract penalties. Many companies retain a tax
consultant for the efficient administration of the tax regime and compliance
with the government rules in matters of taxation.
Why do you need a GST Consultant?
GST with all its details is still something that many people including top
company executives don't understand. To begin with, there are four different tax
slabs of 5%, 12%, 18%, and 28% that apply to four different sets of goods and
services. Some sectors such as education and health also get exemptions. The
complexity does not end here and that's why you need a professional third-party
service provider for an efficient GST Service.
There are 4 different GST categories that cover businesses within the state,
between the states, and overseas businesses. Further divisions are made based on
revenue or the size of the businesses. Based on these factors, a company may
have to file multiple GST reports and returns in a year. This is not an easy
task, especially because GST administration is not the core business of a
If it focuses on GST-related issues and gets overly involved in it, the core
business may get slighted and it may serious consequences. Given this, it is
more advisable to engage GST to return filing services in Mumbai than try to do
What is the Goods and Services Tax (GST)?
Goods and Services Tax (GST) is an indirect tax that sees India as one unified
market. It replaced many central and state-level taxes to become one tax for the
entire country and all businesses.
Inherited from the mixed economy era, India had too many taxes that made tax
administration difficult. For the businesses, too many taxes meant so many
difficulties in doing business. In effect, neither businesses nor tax
authorities were in a happy situation.
As a remedy, India adopted a 'one nation one tax' policy with the introduction
of GST in 2017. Now, it is the most important tax regime that covers all
businesses and services across the nation. Businesses that cross the minimum
revenue threshold for the GST administration have to comply with the GST tax
Is outsourcing GST Return Filing Services a good idea?
As we have discussed above, like all taxes, calculation, assessment, and
reporting of GST is a long and complex process. If a company desires to do the
job in-house, it will have to hire domain experts and maintain a separate
department for this purpose. But if it outsources, it can save time and
resources for hiring experts and maintaining an office for them. Besides, there
is greater efficiency and full-proof compliance with GST rules. Here are a few
other benefits of taking the help of GST return filing services:
- Greater efficiency and cost-effectiveness
- Frees up time and attention of key executives
- Better compliance with all applicable rules
How should you choose your GST Services?
When you engage a third-party service provider, there is always a risk of data
theft. In the case of GST return filing services, the outsourced company will
gradually build a repertoire of information about your company. If the service
provider is not reputable and does not abide by the highest standards of
business ethics, your data can be at risk of being stolen and misused. In this
light, you should hire only professional and reputed companies to process your
Why choose Taxcom as your GST Services?
We are the reputed outsourcing service provider that covers many domains,
including GST services. The company has an excellent digital and physical
infrastructure. It has a skilled and experienced workforce who prepare and file
GST returns on a day-to-day basis. They know the job inside out and you can
trust their efficiency and professionalism.
Compliance with GST laws can be a tricky issue for businesses that lack domain
experts on their payrolls. Such companies can hire a GST Consultant in
Mumbai and let it provide efficient GST Return Filing Services. Taxcom is a
prestigious GST service provider with Indian and foreign businesses as its
clients. If you are looking for a GST service in Mumbai, you can count on
Taxcom's efficient and professional services.