GST – Compliance and Advisory
Navigate the Complexities of GST with Confidence
About
GST – Compliance and Advisory
Introduced in July 2017, the Goods and Services Tax (GST) replaced multiple indirect taxes such as excise duty, VAT, service tax, central sales tax, and octroi duty. GST has fundamentally transformed the tax landscape in India, impacting businesses in areas such as tax rates, compliance, input credits, pricing, and distribution systems.
Our Services
Our GST Services Include:
GST & Customs Duty Compliance Blueprint
1. Develop a detailed compliance blueprint for GST and customs duties tailored to your business needs.
GST Compliance Support
1. Review and submission of tax returns and computations across all states.
2. Reconciliation of mismatches between your records and those of vendors/customers.
3. Guidance on selecting the right ASP/GSP solutions.
Input Tax Credits
1. Resolve operational GST issues, including vendor and customer ecosystem support.
2. Assistance in obtaining advance rulings and addressing implementation challenges.
GST Audit Services
1. Support for annual GST audits across all registered locations.
GST Internal Audit & Process Reviews
1. Review Order-to-Cash and Procure-to-Pay processes for GST compliance.
2. Validate ERP systems and GST-related controls for seamless operations.
GST Representation & Litigation Support
1. Representation before GST authorities and appellate bodies across India.
GST Supply Chain Effectiveness Review
1. In collaboration with supply chain experts, optimize your supply chain, network, warehousing, and logistics from a GST perspective.
Trusted over 120+ clients in the world
Our Services
Our GST Services Include:
Accurate Classification
Properly classify goods and services under HSN and SAC codes, applying the correct tax rates (ranging from exempt to 28%).
Place of Supply Determination
Ascertain the place of supply to identify the relevant state for GST compliance and payments.
Input Tax Credits
Claim eligible input tax credits while excluding or deferring ineligible ones, and handle refunds or credits for exports.
Reverse Charge Mechanism
Ensure compliance with reverse charge provisions on applicable inward supplies.
Periodic & Annual Returns
File accurate periodic and annual GST returns for each registered location.
Valuation for Related Party Transactions
Apply special valuation rules for transactions with related parties.
About Us
Why Partner with lMN & Co
With a team of experienced tax advisors and a client-centric approach, we provide actionable insights and practical solutions to manage your GST obligations effectively.
Simplify GST Compliance Today
Stay ahead of regulatory changes and focus on growing your business while we handle the complexities of GST compliance. Contact us to learn how lMN & Co can be your trusted GST partner!
Testimonials
What Our Clients Say
Working with LMN & Co for our GST compliance has been a great advantage for our business. Their knowledgeable team ensures we meet all regulatory requirements, reducing our stress and risk of penalties. We appreciate their proactive approach and reliable support! ⦁ Engaging LMN & Co for our GST compliance has greatly enhanced our efficiency. Their expert team provides clear guidance on all regulatory requirements, making the process smooth and straightforward. We are extremely satisfied with their professionalism and attention to detail! ⦁ "LMN & Co has been a valuable partner for our GST advisory needs. Their expert team provided us with insightful recommendations that have streamlined our tax processes and improved our compliance. We truly appreciate their in-depth knowledge and responsive service!"
Utilizing LMN & Co for our GST compliance has been a fantastic experience. Their knowledgeable team made navigating the complexities of taxation straightforward and effortless. We appreciate their commitment to excellence and timely communication! ⦁ LMN & Co ensured our GST compliance was handled efficiently and on time. Their expertise and clear guidance made the entire process smooth and stress-free.
Engaging LMN & Co for our GST compliance has greatly enhanced our efficiency. Their expert team provides clear guidance on all regulatory requirements, making the process smooth and straightforward. We are extremely satisfied with their professionalism and attention to detail!
"LMN & Co has been a valuable partner for our GST advisory needs. Their expert team provided us with insightful recommendations that have streamlined our tax processes and improved our compliance. We truly appreciate their in-depth knowledge and responsive service!"
LMN & Co ensured our GST compliance was handled efficiently and on time. Their expertise and clear guidance made the entire process smooth and stress-free.
FAQ's
Popular Questions
What is GST compliance?
GST compliance refers to a business’s adherence to the Goods and Services Tax (GST) regulations set by the government. It involves registering for GST, maintaining accurate records, issuing proper invoices, and filing regular returns (monthly, quarterly, or annually). Compliance ensures that businesses collect and remit the correct amount of tax on sales while claiming input tax credits for eligible expenses. Failure to comply can result in penalties, legal issues, and missed opportunities for tax credits. Effective GST compliance helps businesses avoid costly errors and ensures smooth operations within the tax framework.
Who needs to get registered under GST?
Any business or individual involved in the supply of goods or services, with an annual turnover exceeding the prescribed threshold limit, needs to comply with GST regulations. This includes manufacturers, traders, service providers, and e-commerce operators. Additionally, businesses engaged in interstate supply or involved in the export of goods and services must also register for GST.
When Does E-Invoice Applicable for My Business?
E-Invoicing is mandatory for businesses with a turnover exceeding ₹5 crore in the previous financial year. It helps streamline GST compliance by generating invoices through the government’s e-invoice system, ensuring faster processing and reducing errors.
What services are included in GST advisory?
lMN & Co assists businesses with GST audits, tax assessments, and related notices, offering expert guidance throughout the process. We ensure accurate GST filings, provide strategic advice on audits, and help mitigate penalties. Our team works closely with tax authorities to resolve disputes and ensure compliance. We also support GST return filings, tax planning, and audits, helping businesses optimize their GST liabilities and maintain smooth operations.
Can your GST services scale with my business?
lMN & Co GST advisory services are designed to scale with your business as it grows or expands into new markets. We offer flexible solutions that adjust to changes in turnover, product offerings, or geographic reach, ensuring compliance with local and interstate GST regulations. Our team provides tailored advice to navigate the complexities of multi-state or international GST, helping your business manage tax liabilities and take advantage of available credits as you expand.
Contact Us
Contact Us
LMN & Co
Address: Level 4, N Heights, Plot No 38, Phase 2, Siddiq Nagar, HITEC City, Hyderabad, Telangana 50008
Lets Talk
Email: info@lmnca.com
Phone: +91 89770 79433
Work Hours
Mon - Sat : 10:00AM - 07:00PM
Sunday: Closed
