GST RETURNS

Shah Tax & Audit Services provides a platform to its clients to meet their GST obligations promptly. The firm is involved in preparation and lodging of Business Activity Statements (BAS)/ GST returns on monthly, quarterly or annual basis as requested by the client. GST is tax of 10% levied on certain goods, services and other items sold in Australia. GST cost is borne by the final consumer of the item. The companies or producers collect this cost from the consumers. This amount is to be paid when due. Our portfolio includes filing return of GST. This activity involves registration for GST, analysis of taxable sales of the client organization, check the allowances and concessions in GST module, calculation of amount applicable for GST return, issuing tax invoices and lodging this activity to the tax office.

A business that generates $ 75,000 or more of annual turnover needs to mandatorily register for GST. For businesses with turnover less than $ 75, 000 have an option to not register for GST. Our team helps you understand the nitty gritty of lodging GST. A business may collect taxes from its consumers. On the other hand business may have to pay GST when the supplies are bought. Ultimately at the end of tax period, the difference can be sent to tax office as per the inbound and outbound taxes applicable.

The business activity statements are generated to report periodic transaction and tax obligations a business is entitled to. All the GST information will be complied by our team and recorded for future reference. Monthly, quarterly or annual returns can be lodged as per the suitability of client’s business cash flows.