GST (Goods and Services Tax) is a single indirect tax levied on the supply of goods and services across India. It has replaced multiple taxes like VAT, excise, and service tax, making compliance easier. For businesses, GST ensures smoother trade, uniformity in taxation, and transparency.
Any business with an annual turnover above:
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₹40 lakh (goods) or ₹20 lakh (services) in most states
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₹20 lakh (goods) or ₹10 lakh (services) in special category statesAlso, e-commerce sellers, interstate suppliers, and certain service providers must register regardless of turnover.
GST has multiple slabs – 0%, 5%, 12%, 18%, and 28%. Some items attract a higher rate of 40% (luxury/sin goods). For the latest GST updates (like recent GST 2.0 rate changes on cars & bikes), check our updates section
Monthly: GSTR-1, GSTR-3B (for most taxpayers)
Quarterly: For small taxpayers under QRMP scheme
Annually: GSTR-9 and, if applicable, GSTR-9C
Late fee: ₹50 per day (₹20 for nil return) subject to a cap
Interest: 18% per annum on tax liability
Non-compliance may also lead to notices from the department.
An E-Way Bill is mandatory for movement of goods worth more than ₹50,000 within or across states. It ensures transparency in supply and prevents tax evasion.
Yes ✅. Our experts specialize in replying to departmental notices, representing clients before GST authorities, and handling appeals effectively.
Yes. We act as your Virtual CFO, handling GST, taxation, financial planning, compliance, and business strategy—without the cost of a full-time CFO.
PAN of the business/owner
Aadhaar of proprietor/partners/directors
Business address proof (rent agreement/ownership docs)
Bank account details
Photographs and authorization letter (if applicable)
Claim Input Tax Credit (ITC) correctly
Ensure invoices are GST-compliant
File returns on time to avoid ITC blockage
Use exemptions and composition scheme (if eligible)
From 22nd September 2025, GST on small cars and two-wheelers has been reduced to 18%, while luxury cars are now taxed at 40%. Read our full article here.
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