The Government of India rolled out the Goods and Services Tax in 2017. Businesses till today have only a superficial knowledge of what it entails. The government itself is monitoring and updating this taxation system constantly to make it work in the best interest of the economy. For a business to keep track of all these changes, it is imperative to hire a GST Consultant.
A GST consultant isn’t simply going to file your taxes. A professional offering you wholesome GST solutions will take care of technology back up, make a sturdy billing model, monitor your storage capacity, and so much more. No two consultants are the same. So, before you choose your partner for managing your GST requirements, consider these aspects.
- GST Filing: A GST consultant may offer you their services and solutions for a month or quarter depending upon your turnover. If you run on a solution and switch to another after six months, the GST consultant should assure you of a seamless data transfer. A GST consultant may charge you on the basis of the duration. If you hire a consultant for a shorter duration, include the cost of transfer of data and information in your budget.
- Online and Offline Requirements: India is entering into the digital sphere, especially with GST. The new GST process is completely digital and your GST consultants will have to offer internet-enabled solutions for it. However, not all businesses have access to the internet. Especially SMEs in small towns are still putting pen to paper. It is important for you GST solutions provider to offer offline capabilities as well. This would ensure that tax professionals have the flexibility of updating and editing data anytime at their convenience. Your GST consultant should always have offline records which can be updated at regular intervals. Offline record management also enables you to go back and forth in the business cycle with constant updates without pushing any data out of your back-up server.
- Referrals and Associations: Your chances of finding a good GST consultant will be doubled if you ask for references from your peers. You will be directed to consultants who are specifically catering to the needs of your industry. A GST consultant must have full knowledge of the niche if your business so that they have the information of all the relevant business laws. Looking for professional associations will also give you feedback on the consultancy firm if there were any complaints, their serviceability and more.
- Accessibility: Your GST consultants and the solutions they offer should be extremely accessible to you. There may be times when you will need to be in constant touch with your advisor. The implementation of a user-friendly technology for GST solutions may also need initial hand-holding. The size of your business, its operations and the number of employees will help you ascertain the amount of time your GST consultant will be spending in service of your company. You can look for GST consultants in Delhi which suit your requirement and choose accordingly.
Pre-filing Reconciliations: Since the GST regime is fairly new, business accustomed to the traditional method of filing taxes may have a little problem with the digitised process. Business who have a widespread operations network may have mismatches and gaps in their tax accounting which may arise after the taxes have been filed. Several GST consultants in Delhi offer technological solutions with enhanced features which allow pre-filing reconciliations. This is a critical feature which would ensure faster follow-ups and closures for reduced mismatches. So, ensure that your GST consultancy firm offers you such feature-rich technological solutions for your business.
A GST consultant will be your guide to all things related to taxation, from litigation to representation, for your business. Some of the most noted firms which offer GST consulting services in and around NCR region are Dewan P N Chopra and Co., Neeraj Bhagat, Nangia & Co LLP, KPMG International, There are also other firms offering the same, you can talk to them and choose a firm which best suits your unique needs.