Goods and Service Tax (GST)

GST forms a major tax revenue for government. Every products and services sold in India attracts GST (except few exemptions). Hence, every business needs to have effective GST mechanism. But such vast data and filing procedures coupled with input tax credit reconciliation, timely payment makes GST a complicated process. Professional support is highly needed to avoid any penalty, late payment related issues.

Truzly’s qualified chartered accountants and team of experts support your business in GST compliance and saves your precious time. We further provide consulting services and work with your employees for all necessary GST returns, refund process etc., Truzly is an end to end business service provider having more than 10 years of experience in GST and Indirect taxes.

All in One Annual GST Compliance package starts at Just 25,000/-

Includes: GSTR-3B & GSTR-1 Return Filing, GSTR-9 – Annual Return and Input tax reconciliation service.

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GST Registration

Every Company or LLP engaged in services or sale of goods (excluding certain goods notified) which has turnover of more than Rs. 40 lakhs must be registered under GST. Registration process is very simple and quick. All the process is made online to ensure ease of doing business.

Temporary GST registration is also permitted for any person who does not have permanent business in India. Any non-resident, foreign companies or nationals who generate income in India, can register under Temporary registration.

For Indian businesses For foreign companies /citizens
Proof of Principal Place of Business.Any document in support of the ownership of the premises Electricity Bill, Property tax etc.,Copy of lease or rental agreement (if not available) consent letter from owner with proof of ownership. Proof of Principal Place of Business.Any document in support of the ownership of the premises Electricity Bill, Property tax etc.,Copy of lease or rental agreement (if not available) consent letter from owner with proof of ownership.
Copy of PAN cardCopy of certificate of incorporation in case of CompanyIdentity and Address proof of Directors or promotersPhotograph of one authorized person. Identity ProofCopy of passportIn case of company, certificate of incorporation along with tax identification no.power of attorney with an authorisation letter.

GST registration for Indian companies at Just 2,999/-

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GST registration for foreign companies/citizens at Just 75,000/-

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GST Letter of Undertaking(LUT)

Letter of Undertaking (LUT) or Export Bond (for certain kind of exporters) is required to be submitted in form GST RFD 11 as per GST rules to undertake that the exporter shall fulfil all the requirements when exporting any goods or services without IGST payment.

The main purpose of submitting the LUT or export bond is to ensure that exporters comply with GST regulations post export of goods and services and pay IGST. Failure to adhere the regulations may lead to non-compliance and huge penalty under GST act.

Truzly renders LUI services with professional touch at affordable rate that no one can provide. Our team of professionals will co-ordinate with client and GST authorities for smooth filing of LUI. Trust the experts, do not take risk in when it comes to GST.

GST LUT service
  • Just ₹4,500 Only/-
  • Export Bond for GST
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Cancellation of GST

Just like any registration, registered GST is cancellable subject to certain conditions. It is necessary to note that while applying for voluntary cancellation of GST, all the pending forms and tax liability if any should be paid. If the GST returns are not filed, registration can be cancelled only after filing all the due returns.

Voluntary cancellation is due to following reasons:

  1. Closure of business
  2. Sale or transfer of business
  3. If business continue to post turnover below Rs 40Lakhs.
  4. Demise of the GST holder
  5. Merger or amalgamation with or without dissolution
GST Cancellation
  • Just ₹5,000 Only/-
  • **Excluding Government Fee or Taxes.
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Why you need Truzly for GST Compliance

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Truzly is the perfect place for all your GST needs and compliance, right from registration to filing, advisory and back office GST accounting. Our expertise in the filed of GST and Corporate compliance can foresee what your business needs today to meet future challenges. GST is a convoluted tax system which requires professional support at all the stages, tell us more about your GST issues and we have solution for all the problems.

Truzly professionals are ready to serve you for GST and gamut of services

All in One Annual GST Package
  • Just ₹25,000 Only/-
  • GSTR-3B Return Filing
  • GSTR-1 Return Filing
  • GSTR-9 – Annual return
  • Input Tax Reconciliation Service
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FAQ’s and Useful insights on GST:

Under GST system, businesses whose turnover exceeds Rs. 40 lakhs (Rs 10 lakhs for North Eastern States and hill states) is required to register as a normal taxable person.
GST in India is implemented as duel tax system. Means, two types of GSTs are implemented in India. Viz., State GST and Central GST. Hence if you have business presence in various States, it is necessary to register in respective states for payment and claiming refund as the case may be. Truly has professional presence across India to provide complete GST support, contact us now for all your GST needs.
Inter-State supply of goods or services means supply of goods or services from one state to another state or union territories and the place of supply are in different states. Also, in cases of export or import of goods or services or when the supply of goods or services is made to SEZ unit, the transaction is assumed to be Inter-State. In an Inter-State transaction, a seller has to collect IGST from the buyer.
Generally, GST is applicable only upon reaching the threshold limit, but some E commerce giant prefer or mandate for its sellers to register GST. Hence every seller will have to undergo GST registration and necessary compliance.

On the other hand, outsourcing the back-office work viz., accounting, GST, income Tax and TDS returns assures no or minimum employee cost. Further, external outsourcing service provider like Truzly comes with professional experience and offer end to end support at much lower cost. Hence for all entities, should strive to outsource non-cover areas to make their business competitive, especially small and medium firms.

Invoice matching or reconciliation is a process to ensure accurate matching of all input tax credit (ITC) between the invoiced parties. E.g. ITC of purchased services and goods will be available only when the inward supply in the buyer’s GSTR-2 return matches the outward supply of the supplier’s GSTR-1. In GST portal, the auto-population enables from both the supplier’s GSTR-1 and buyer’s GSTR-2.If the invoices don’t match, then the buyer cannot claim ITC of paid taxes of the purchased goods or services. Hence it is very important to have professional system of accounting and follow up with suppliers to get ITC.
Outsourcing is not a new phenomenon; it is very general in every part of the world. Engaging inhouse talent to cater certain work may increase the cost. Further, employees may leave at any time, which impacts the business and smoother compliance process. Outsourcing certain corporate compliance, taxation, HR or IT services bring professionals at your doorstep at half of the cost compared to inhouse employees. Further, when you engage Truzly, we bring wider experience in different field and having professional networks across India. This may not be available in case of inhouse talent.
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