Last July, India joined the league of countries like UK, Canada, and Singapore by introducing Goods and Service Tax (GST) that replaced all the indirect taxes levied on goods and services by the state and central government. Since then, there has been so much of discussion about GST that we decided to simplify it for you! We are also going to give you the list of GST consultants in Mumbai in a bit. So, keep reading.
First, let’s understand why GST is important to your business?
#1 – It has reduced the number of different taxes that you had to pay earlier for your goods and services. It has made the tax structure lean!
#2 – It will help in boosting India’s vision of becoming a manufacturing hub by reducing the tax burden on manufacturers thus increasing the production rate and helping in the growth of the industry.
#3 – It will encourage business people to adhere to compliance rules as GST has to be filed online, which makes the entire process easy.
#4 – The suppliers, wholesalers, retailers, and manufacturers will be able to recover GST incurred on input costs as tax credits, which reduces the cost of doing business and helps them good to consumers at a lower price.
#5 – With better compliance, and transparency in the entire process, GST is touted to improve the GDP growth.
How to register for GST? Ask the GST Consultants In Mumbai.
Before registering, ensure that you declare the following on the common portal:
PAN card
Mobile number
Email address
State or UT where you operate your business
After verification, you will receive an auto-generated temporary reference number on your registered mobile number and email id.
You will have to use that reference number to electronically submit your application on Part B of Form GST REG -01 signed and verified by EVC along with the documents specified in the form.
On submitting the application successfully, you will receive an acknowledgment in Form GST REG – 02.
While you can try filing the GST on your own, we recommend that you seek guidance from the GST consultants in Mumbai to help you file the GST returns every month without breaking into a sweat.
We have compiled a list of Top GST consultants in Mumbai for your convenience.
A A Jain & Associates
Address: G-1, Madhu Milan Building, Shivaji Park, H M Patil Marg, Dadar West, Mumbai – 400028, Maharashtra Contact: 9819264123 Price: Rs.2000
A S B & ASSOCIATES
Address: 205, Veena Dalvai Industrial Estate, Near 24 Carat Cinema, S. V. Road, Andheri (west), Mumbai-400086. Landline. No. : 022 – 60603600 Contact: 022-60603600 Price: Rs.3000
AKM & Associates
Address: B-23, Park Avenue, RTO Lane, Near Sai Baba Mandir, New Link Road. Andheri West Mumbai – 400053 Contact: 09167656621/9152227438 Price: Rs.1000
Address: B-405, 4th Floor, Satellite Gazebo, West Wing, Next to Solitaire Corporate Park, Andheri Ghatkopar Link Road, Andheri East, Mumbai, Maharashtra 400093 Contact: 7400050246 Price: Rs.2000
Hemant Shah And Associates LLP
Address: 104, B-Wing, Prathamesh Apartment, Gundawali Azad Road, Near BMC office Andheri-East, Mumbai, Maharashtra 400069 Contact: 9764448735 Price: Rs.1500
Hilon Indtax Consultants
Address: B/76, Malhar, Sky Build Village, Off Borsa Pada Road, Opposite. Pawar Public School, Kandivali West, Mumbai, Maharashtra 400067 Contact: 9820364833 Price: Rs.6000
Jitendra M Depala
Address: 401, A Wing, Shanti Vihar, S V Road, Kandivali West, Mumbai – 400067, Opp to Beauty Shop Contact: 9323274049 Price: Rs.3000
Jogi Associates
Address: 505, Raj Chambers, Manchubhai Road, Malad East, Mumbai – 400097, Opposite Bank Of Baroda, Near Malad Railway Station, Malad East Contact: 9833195685 Price: Rs.1500
K S Mahadik And Co
Address: 12 Krishna Kunj, Maharashtra Nagar Marg, Borivali West, Mumbai – 400092, Near Girgaon Katta Contact: 98919245800 Price: Rs.1000
K Sutar And Associates
Address: Office No. 15, 1st Floor, Rawal Chambers, 339/41, Samuel Street Vadgadi, Masjid, Above S. B. I. Bank, Mumbai – 400003, Contact: 9004729929 Price: Rs.2500 + GST
Kaloti And Lathiya
Address: 1st Floor, C/O Hasmukh Mehta, Vinod Pushpa Park 3, opp Mc Donalds, Borivali West Contact: 9545727818 Price: Rs.1000
Kudos Financial Services
Address: Office No. 10, Hireshwar Building, Opp Abhyudaya Bank, Borivali East, Mumbai, Maharashtra 400066 Contact: 84509844279702700000 Price: Rs.5000
Address: 8Th Floor, A Wing, Cts No 351 353 Etc, Jaswanti Allied Bussiness Center, Ramchandra Lane Extn, Malad West, Mumbai – 400064, Next To Hotel Khwaish
Contact: 9773556288 Price: Rs.7500 + GST
More 4 Less Advisory Services Pvt Ltd
Address: Office no.102, Ground floor, Om Heera Panna Mall, Near Oshiwara Police Station, Andheri(West), Mumbai-400053 Contact: 8983404483 Price: Rs.3500
N Associate
Address: Room No 306, Omkar Chawl, Waghriwada Datta Mandir Road, Vakola, Mumbai – 400055, Near Rameshwari School & Vakola Bridge Contact: 8879268459 Price: Rs.5000
Niket Agarwal & Associates
Address: Mandar Bungalow, Juhu Tara Road, Near State Bank Of India, Juhu, Andheri, Mumbai, Maharashtra 400049 Contact: 9768775555 Price: Rs.1500
Address: Room No 3 Telwala House 1st Floor, 208-210 Narsi Natha Street, Masjid Bunder, Mumbai – 400003, Near Masjid Station Contact: 9320264457,+91-9819058833 Price: Rs.3000
Princeton
Address: 502 Shalimar Morya Park, Link Road, Andheri (W), Mumbai – 400053. INDIA Contact: 2267256200 Price: Rs.3000
Address: Shop 6, Above Durga General Store, Opp IDBI BnkVersova Link Rd, Andheri West, Mumbai – 400053, Nr Vikram Petrol Pump, Behind S K Garriage Contact: 9892465610 Price: Rs.1750
Address: Office No.405 Jay Siddhivinayak Building C P Tank, Ardeshir Cross Lane, Cawasji Patel Tank, Mumbai – 400004, Maharashtra, India Contact: 7021737368 Price: Rs.2500
SPKM Associates
Address: 27, Moonlight Shopping Centre, Andheri East, Mumbai – 400059, Maharashtra, India Contact: 9082335183, Price: Rs.2000-3000
If you are wondering whether it is mandatory to go through this tedious process of filing GST returns, then let me tell you it is necessary to file GST returns to avoid unnecessary compliance issues. You will be penalized if you do not file the GST returns. If you do not file your GST returns for a particular month, you will not be able to file for the next month too. This will have a cascading effect and will result in a heavy fine which could range from a penalty of 10% of the tax due or Rs 10,000, whichever is higher. So, we recommend that you contact good GST consultants in Mumbai from the list given above and seek help in filing your GST returns regularly. After all, you do not want to be on the wrong side of the law, do you?