Goods Service Tax is collected by the government at every stage of the supply
chain, from the manufacturer to the retail level. The tax is calculated based on the
value of the goods or services being supplied, and it is paid by the supplier. The GST
paid on business inputs (such as raw materials and services) can be claimed as a
credit against the GST charged on supplies made by the business. This is known as
the "input tax credit" system and is intended to prevent double taxation.
GST is administered by the Central Board of Indirect Taxes and Customs (CBIC),
which is part of the Indian Ministry of Finance. Businesses with an annual turnover
above a certain threshold are required to register for GST and file GST returns on a
regular basis.
Our team is professionally trained to help you with a variety of tasks in the following
areas: