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GST Ultra Package (QUARTERLY) Whose Turnover is More Than Rs 5 Crores

About of Service

The GST Ultra Package (MONTHLY) designed for businesses with a turnover more than 5 crores typically offers comprehensive services aimed at ensuring thorough GST compliance and operational efficiency on a monthly basis. Here are the key services it may include, compared to other packages:

  1. GST Registration Assistance:

    • Guidance and support for GST registration, ensuring compliance with turnover thresholds and regulatory requirements.

  2. Monthly GST Return Filing (GSTR-1 and GSTR-3B):

    • Monthly filing of GST returns:
      • GSTR-1 for outward supplies by the 10th of the following month
      • GSTR-3B for summary returns by the 20th of the following month

  3. GST Compliance Management:

    • Monitoring and ensuring strict adherence to GST compliance requirements throughout the month, including meticulous record maintenance and documentation.

  4. Advanced Advisory Services:

    • Detailed advisory on complex GST matters, including updates on GST rates, notifications, and regulatory changes affecting the business.

  5. Monthly Review Meetings:

    • Regular review meetings to assess GST compliance status, address any issues, and strategize for enhanced compliance management.

  6. Real-time Update on Regulatory Changes:

    • Prompt communication of changes in GST laws and regulations affecting business operations to facilitate proactive compliance.

  7. Comprehensive Record Maintenance:

    • Assistance in maintaining detailed records required under GST regulations to support monthly return filings and audits.

  8. Dedicated GST Audit Support:

    • Support during GST audits, including preparation of audit documentation and timely response to audit queries as required.

  9. Priority Query Resolution:

    • Expedited resolution of queries related to GST filing, compliance, and other package-related services to ensure uninterrupted business operations.

  10. Customized Financial Reports:

    • Provision of customized reports on GST transactions, compliance status, and financial insights to support informed decision-making and strategic planning.

Uses and Benefits
  • GST Registration Assistance: Guidance and support for GST registration, ensuring compliance with turnover thresholds and regulatory requirements if not already registered.
  • GST Compliance Management: Monitoring and ensuring adherence to GST compliance requirements throughout the quarter, including record maintenance and documentation.
  • Advanced Advisory Services: Detailed advisory on complex GST matters, including updates on GST rates, notifications, and regulatory changes affecting the business.
  • Quarterly Review Meetings: Scheduled meetings to review GST compliance status, address any issues, and strategize for improved compliance management.
  • Real-time Update on Regulatory Changes: Prompt communication of changes in GST laws and regulations impacting business operations to ensure proactive compliance
  • Comprehensive Record Maintenance: Assistance in maintaining detailed records as required under GST regulations to support quarterly return filings and audits.
  • Dedicated GST Audit Support: Support during GST audits, including preparation of audit documentation and timely response to audit queries as required.

Select your own Associate

Charges Structure & Our Scope of Work

Additional Disclosure

  1. Organizational Information:

    • Provide detailed information about your organization, including its legal name, business address, nature of business activities, and GSTIN (Goods and Services Tax Identification Number).

  2. Turnover Details:

    • Clearly state the turnover for the applicable quarter, ensuring it meets or exceeds the threshold of Rs 5 Crores to qualify for the Ultra Package.

  3. Sales and Purchase Details:

    • Provide a comprehensive summary of sales and purchases made during the quarter, categorized by taxable and exempt supplies.

  4. Input Tax Credit (ITC):

    • Detail the ITC claimed during the quarter, including eligible ITC, reversals, adjustments, and reasons for any discrepancies.

  5. GST Returns Filing:

    • Confirm that GST returns (GSTR-3B) for the quarter have been filed accurately and within the prescribed timelines.

  6. Declaration of Turnover:

    • Declare that the turnover reported complies with the threshold requirement for the GST Ultra Package (Quarterly).

  7. Compliance with GST Rules and Regulations:

    • Ensure compliance with all applicable GST laws, rules, regulations, notifications, and circulars.

  8. Internal Controls and Procedures:

    • Describe the internal controls and procedures implemented to ensure accurate reporting and compliance with GST regulations.

  9. Certification and Sign-off:

    • Provide a certification from a Chartered Accountant or Tax Practitioner affirming the accuracy and completeness of the information provided for the quarterly GST filing under the Ultra Package.

  10. Communication with GST Authorities:

    • Document any communications or interactions with GST authorities regarding the Ultra Package and compliance requirements.

Terms & Conditions

Documents & Detail Required

For the GST Ultra Package (MONTHLY) tailored for businesses with a turnover exceeding 5 crores, the typical documents required include:

  1. Identity Proof:

    • PAN card of the proprietor/partners/directors

  2. Address Proof:

    • Aadhaar card
    • Passport
    • Voter ID
    • Utility bills (electricity, water, gas, etc.)

  3. Bank Account Details:

    • Bank statement
    • Cancelled cheque

  4. Business Registration Proof:

    • Partnership deed (for partnerships)
    • Certificate of incorporation (for companies)
    • Registration certificate under relevant acts (if applicable)

  5. Financial Documents:

    • Income statement for the current month
    • Balance sheet (if available)
    • Previous month's turnover details

  6. GST Registration Certificate (if already registered):

    • Copy of GST registration certificate

  7. Authorization Letter (if applicable):

    • Authorizing the GST consultant or advisor to file returns on behalf of the business

  8. Any Additional Documents:

    • Depending on specific business activities, additional documents such as rent agreement, NOC from the landlord, etc., may be required.

Please Note Down Your Querie

OUR REVIEW

FAQ'S

Who is eligible for the GST Ultra Package (QUARTERLY)?

Businesses with a turnover exceeding Rs 5 crores annually are eligible for this package, aimed at ensuring thorough GST compliance on a quarterly basis.

What happens if I miss filing quarterly GST returns (GSTR-1 and GSTR-3B)?

Late filing of GST returns attracts penalties and late fees as per GST regulations. Timely filing is crucial to avoid penalties and maintain compliance.

Can the Ultra Package (QUARTERLY) be customized based on specific business needs?

Yes, the package can often be tailored or upgraded to accommodate specific business requirements, additional services, or higher turnover thresholds. Discuss customization options with your GST consultant or service provider.

How does the package handle GST audit support and query resolution?

The package includes dedicated support during GST audits, preparation of audit documentation, and timely response to audit queries to ensure smooth compliance processes.

What are the benefits of opting for the GST Ultra Package (QUARTERLY)?

The package offers a structured approach to manage GST compliance effectively on a quarterly basis, ensuring businesses stay compliant with GST laws while receiving proactive support and advisory services.

How are regulatory changes communicated under the Ultra Package (QUARTERLY)?

Immediate updates on GST rate changes, notifications, and regulatory amendments impacting business operations are promptly communicated to ensure timely compliance.