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

About of Service

  • GST Registration Assistance:

    • Guidance and support for initial GST registration or updates as per turnover thresholds and regulatory requirements.

  • Annual GST Return Filing:

    • Filing of annual GST returns (GSTR-9) summarizing the entire year's transactions by the due date.

  • Quarterly Advance Advisory Services:

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

  • Compliance Management:

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

  • Financial Review Meetings:

    • Scheduled meetings to review GST compliance status, address any issues, and strategize for improved compliance management.

  • Real-time Update on Regulatory Changes:

    • Timely communication of changes in GST laws and regulations impacting business operations to ensure proactive compliance.

  • GST Audit Support:

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

  • Customized Financial Reports:

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

  • Query Resolution:

    • Expedited resolution of queries related to GST filing, compliance, and other package-related services to maintain seamless operations throughout the year.

  • Additional Services:

    • Additional services may include assistance with GST refund claims, handling of GST notices, representation before GST authorities, and customized support based on specific business needs.

    • Uses and Benefits
    • Comprehensive GST Compliance Management: Guidance on GST registration and assistance with updates. Quarterly or annual GST return filing (GSTR-1, GSTR-3B, and GSTR-9). Monitoring compliance throughout the year, including record maintenance and documentation.
    • Advanced Advisory Services: Regular updates on GST rates, notifications, and regulatory changes. Advisory support on complex GST matters, including transactions, input tax credit (ITC), and compliance issues.
    • Audit Support and Representation: Support during GST audits, preparation of audit documentation, and representation before GST authorities if required.
    • Customized Financial Reports and Analysis: Provision of customized reports on GST transactions, compliance status, and financial insights.
    • Query Resolution and Customer Support: Timely resolution of queries related to GST filing, compliance, and other package-related services.
    • Regular Review and Strategy Meetings: Scheduled meetings to review GST compliance status, address any issues, and strategize for improved compliance and efficiency.
    • Adaptability and Customization: Flexibility to adapt services based on specific business needs, changes in turnover, or regulatory updates.

    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 financial year, 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 year, categorized by taxable and exempt supplies.

    4. Input Tax Credit (ITC):

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

    5. GST Returns Filing:

      • Confirm that GST returns (GSTR-3B) for the year 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 (Yearly).

    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 annual 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 (YEARLY) tailored for businesses with a turnover exceeding Rs 5 crores, the typical documents required may 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 year
      • Balance sheet
      • Turnover details for the financial year

    6. GST Registration Certificate (if already registered):

      • Copy of GST registration certificate

    7. Annual GST Return (GSTR-9):

      • Copy of the filed GSTR-9 summarizing the entire year's transactions

    8. Authorization Letter (if applicable):

      • Authorizing the GST consultant or advisor to file returns and represent before GST authorities on behalf of the business

    9. Any Additional Documents:

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

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    OUR REVIEW

    FAQ'S

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

    Businesses with a turnover exceeding Rs 5 crores annually are eligible for this package, aimed at comprehensive GST compliance and management.

    When is the annual GST return (GSTR-9) due under the Ultra Package (YEARLY)?

    The GSTR-9 for the entire financial year needs to be filed by the specified due date to ensure compliance with GST regulations.

    What happens if there are errors in the filed GST returns (GSTR-9)?

    Corrections to GSTR-9 can be made through subsequent filing periods, but it's crucial to rectify errors promptly to avoid penalties and ensure accurate compliance.

    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.

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

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

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

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

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

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

    What types of customized financial reports are provided under the Ultra Package (YEARLY)?

    Customized reports on GST transactions, compliance status, and financial insights are provided to facilitate informed decision-making and strategic planning.