Maximize Your GST Refunds with Tax360
Expert Guidance | Compliance Support | Discrepancy Resolution
Tax360 – Your Trusted Tax & GST Partner!
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Managing GST refunds and adjustments is a crucial aspect of maintaining your business's financial health and ensuring compliance with tax regulations. At Tax360, we specialize in guiding businesses through the complexities of GST refunds, amendments, and reconciliations, ensuring you maximize your entitlements and maintain accurate records.
| Aspect | Details |
|---|---|
| Eligibility Criteria | Excess payments due to errors, export of goods or services, accumulated Input Tax Credit (ITC) due to higher input tax rates, supplies to Special Economic Zones (SEZs), deemed exports |
| Adjustment Against Liabilities | Automatic adjustments by the GST system, manual claim adjustments during return filing |
| Strategic Management | Incorporate adjustments into financial forecasts, maintain detailed records for accurate financial statements |
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, our team of experts is well-versed in the latest tax regulations and can provide comprehensive support for GST refunds and adjustments. We offer:
| Service | Description |
|---|---|
| Expert Guidance | Our seasoned professionals will guide you through the entire process, ensuring you meet all eligibility criteria and maximize your refund entitlements |
| Compliance Support | We help you stay updated with the latest changes in tax laws and ensure your business remains compliant |
| Documentation Assistance | We assist in preparing and submitting all necessary documents, ensuring accuracy and completeness |
| Discrepancy Resolution | We help address any discrepancies, providing detailed responses and supporting evidence |
Tax360 – Your Trusted Tax & GST Partner!
Contact Us