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Business Owners – Make GST Compliance a Breeze!
Expert Representation | Compliance Support | Discrepancy Resolution
Tax360 – Your Trusted Tax & GST Partner!
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Getting a GST audit notice can feel like a big deal, and it's totally normal to feel a bit anxious about it. But remember, you don't have to go through this alone. At Tax360, we're here to help you every step of the way. We'll make sure everything is handled properly and that you stay on the right side of the rules. Think of us as your trusted partners in this journey – we're here to make things easier for you.
| Step | Action | Tips |
|---|---|---|
| Stay Calm and Organized | Carefully review the notice to understand the scope and requirements. | Take a deep breath and stay focused. |
| Verify the Notice | Confirm the details of the notice, including the issuing officer's designation and the period covered. | Ensure there are no parallel audits or investigations for the same period. |
| Prepare Documentation | Gather all relevant documents and information requested in the notice. | Ensure these documents are vetted thoroughly before submission. |
| Submit with Acknowledgment | Always submit documents with a covering letter and obtain an acknowledgment. | This ensures a clear record of compliance. |
| Address Discrepancies | If discrepancies are identified, draft a detailed, written response with supporting evidence. | If you agree with the discrepancies, deposit the differential amount via Form DRC-03 and inform the officer. |
| Avoid Pressure Tactics | Never accept or deposit any amount under pressure. | Ensure all actions are well-considered and documented. |
The latest Union Budget has brought some exciting changes that can benefit your business
| Update | Depreciation Rate (%) |
|---|---|
| Presumptive Taxation Limits | Increased to ₹3 crore for small businesses under Section 44AD if 95% of receipts are digital. Professionals under Section 44ADA have a limit of ₹75 lakh with 95% of receipts through banking channels. |
| Income Tax Slabs | Income up to ₹12 lakh is now tax-free. The tax rate for income between ₹8 lakh and ₹12 lakh is reduced to 10%. |
| TDS and TCS Limits | Annual limit for TDS on rent increased to ₹6 lakh. Threshold for TCS on remittances raised from ₹7 lakh to ₹10 lakh. |
At Tax360, we're more than just tax experts – we're your partners in compliance. Here's how we can help
| Service | Description |
|---|---|
| Expert Representation | Our seasoned professionals will be by your side during audits, ensuring your interests are well-represented. |
| Compliance Support | We keep you updated with the latest tax laws and ensure your business stays compliant. |
| Documentation Assistance | We'll help you prepare and submit all necessary documents, ensuring everything is accurate and complete. |
| Discrepancy Resolution | We'll assist in addressing any discrepancies, providing detailed responses and supporting evidence. |
Business Owners – Make GST Compliance a Breeze!
Tax360 – Your Trusted Tax & GST Partner!
Call Us