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As per Section 65 of the SGST/CGST Act, tax authorities can conduct GST departmental audit to ensure businesses adhere to the GST regulations religiously. The process involves analysing the taxable individual’s returns, records and other documents to ensure proper and timely tax payment; returns declaration and valid refund and tax credit claims.
The GST departmental audit procedure involves an authorised/ proper officer or tax commissioner conducting the audit to verify the details of your books of accounts or records. The officer does so with the help of its team of officials who are adept at assessing the GST compliance details of organizations.
Upon GST audit completion, the authorised/ proper officer will inform you about the findings, the obligations, rights and reasons for the given findings within a time span of 30 days in FORM GST ADT-02. If you are at fault, such as possessing a wrongly availed or used ITC, the authorized / proper officer will proceed further according to the process detailed under Section 73 or Section 74 of the GST Act.
The GST department conducts a GST departmental audit if it suspects that your business is not reporting its GST liability properly or if it is doubtful that your business is not in compliance with the GST regulations and laws. Key pointers of the process include:
Genuine Filings is here to solve your GST departmental audit issues by providing services like keeping track of notices and their due dates, handling and liasioning during the departmental audit, drafting necessary reply and response to the audit queries etc., with the help of GST professionals / experts. Contact us now for solutions specifically designed to help you take over GST audits efficiently and manage GST regulations effectively.
Trademark registration offers several benefits to businesses and individuals. Some of the key advantages of trademark registration are
Trademark registration provides legal protection to the owner of the mark by granting exclusive rights to use the mark and preventing others from using it without permission. This protection helps to safeguard the owner's investment in the brand and prevent infringement by competitors.
Trademark registration helps to build brand recognition and reputation by creating a unique identity for the business. It helps to distinguish the brand from others in the market, and consumers can easily identify and associate the mark with the business.
A registered trademark gives a competitive advantage to the business by preventing others from using a similar or identical mark. This can help to attract customers and build trust and credibility with them.
A registered trademark is an asset that can add value to the business by providing a competitive edge and creating a unique identity. It can also be licensed or sold, providing an additional source of revenue for the business.
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