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GST registration in delhi

Are you looking for GST registration in delhi? If yes then end your search with CA Mapsa and Company. MAPSA & Co is a reputed & professionally managed chartered accountancy firm practicing into Audit & Assurance, Direct & Indirect Taxation, Company law matters, Accounts outsourcing and Management Consultancy services since 1975 with offices at Delhi, Ambala & Chandigarh. We cater to a variety of clients across the board with a stated policy of following holistic approach, giving complete visibility and best in class turnaround time to each client. This is achieved by bringing the technical and analytical skills to an assignment, which is developed, through the academic background, adoption to latest technology, continuing professional education and engagement experience of our team. MAPSA's professional approach blended with personal touch has earned the firm enormous confidence of all its clients, which is reflected in an enduring business relationship that it enjoys with them and also in the consistent growth in portfolio of its services. The firm regards the provision of a personal and high quality service to the clients as an absolute priority.

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The Significance Of Deemed Export Under GST: Everything You Need To Know

Introduction

In the realm of taxation and business, the concept of 'Deemed Export under GST' is pivotal, particularly for those involved in the export business. This concept, while complex, is crucial to understanding the intricacies of the Goods and Services Tax (GST) and its implications on the export sector. This article aims to delve into the significance of deemed exports under the GST and how it impacts businesses and exports on a broad scale.

Deemed exports are transactions in which the goods supplied do not leave the country, and the payment for such supplies is received either in Indian rupees or in convertible foreign exchange. They are called deemed exports because they are not actual exports (where goods leave the country), but are considered as such under GST for tax purposes.

To comprehend the importance of deemed exports under the GST, one must first understand the purpose and function of GST. GST is a comprehensive, multi-stage, destination-based tax that is levied on every value addition. In simple terms, GST has been instituted to subsume most of the existing indirect taxes, thereby making taxation simpler and more streamlined.

Deemed export under GST has a profound influence on the economy, especially on exporters. It can have a significant impact on the profitability of businesses, and hence, it is pivotal for exporters to have a clear understanding of it. They need to comprehend how GST affects their business operations, particularly in regard to deemed exports.

Moreover, with the implementation of GST, there has been a considerable shift in the tax framework for deemed exports. This shift has significant implications for the tax burden on exporters. By comprehending the concept of deemed exports under GST, businesses can better navigate the tax landscape, ultimately enhancing their profitability and ensuring compliance with the law.

In the forthcoming discussion, we will further explore the definition of deemed exports under the GST Act, the different types, and the benefits it affords. The procedures for exporting under GST and the specifics of GST registration for exporters in Delhi will also be detailed. This comprehensive guide will provide invaluable insights into everything one needs to know about the significance of deemed exports under GST.

Definition of Deemed Export Under GST

Deemed export, as defined under the Goods and Services Tax (GST) Act, pertains to specific transactions in which the goods supplied do not leave the country, and the payment for such supplies is received either in Indian rupees or in convertible foreign exchange. Essentially, while the goods technically remain within the geographical boundaries of India, they are considered as 'deemed' to have been exported for the purposes of the GST Act.

Under the GST Act, the concept of deemed export is implemented under section 147, where the Central Government may notify certain supplies of goods as deemed exports, on the recommendations of the GST Council. In line with its objective of simplifying and harmonizing the indirect tax regime, the GST Act allows for a broad interpretation of what constitutes deemed exports, covering a range of transactions and situations.

In understanding the different types of deemed exports under the GST Act, it's important to note that there are four main categories. First, any supply of goods that are manufactured in India to an Export Oriented Unit (EOU) is considered as a deemed export. Second, deemed exports also include any goods supplied against Advance Authorisation (AA), which is essentially an authorization to import inputs that are used in the manufacture of goods. Third, any supply of goods to a project that is financed by multilateral or bilateral agencies and is under international competitive bidding is also considered as a deemed export. Lastly, deemed exports include supply of goods to projects funded by the United Nations or an international organization.

From a taxation perspective, the designation of a transaction as a 'deemed export' carries significant implications. Deemed exports are treated as zero-rated supplies under the GST Act, which means that even though GST may be charged on the transaction, the supplier can claim a refund of such GST paid. This provision is in line with the overall objective of the GST regime to ensure that exports are not burdened with domestic taxes, thereby making Indian goods and services more competitive in the global market.

To summarise, the concept of deemed export under the GST Act is an important feature of India's indirect tax regime. It covers a broad range of transactions, where goods supplied do not leave the country, but are nevertheless considered as 'exported' for tax purposes. The GST Act provides for different types of deemed exports, and these transactions are treated as zero-rated supplies, thereby reducing the tax burden on such transactions and contributing to the competitiveness of Indian goods and services.

Benefits of Deemed Exports Under GST

One of the key benefits of deemed exports under GST is its ability to reduce the tax burden on exporters. The GST system is designed to provide a refund of the tax paid on inputs used in the production or manufacture of goods that are subsequently deemed as exports. This is a significant benefit as it helps to reduce the overall cost of production for exporters, thereby making their products more competitive in the global market. It is also noteworthy that the GST system is designed in such a way that the burden of tax is ultimately borne by the end-consumer and not the producer or the exporter, further reducing the financial burden on exporters.

Furthermore, this system of tax refunds for deemed exports also helps to increase cash flow for exporters. In the traditional indirect tax regime, exporters often had to bear the burden of taxes on inputs for an extended period before they could claim refunds. This often led to cash flow problems, especially for small and medium enterprises. However, under the GST regime, the refund process is expedited, allowing exporters to recover their input taxes more quickly. This, in turn, helps to improve their cash flow and financial liquidity.

Additionally, the deemed exports under GST also aids in simplifying the overall export process. Before the implementation of GST, exporters had to deal with multiple state and central taxes, each with its own set of rules and regulations. This led to a lot of confusion and complexity for exporters. However, with the introduction of the GST regime, all these different taxes have been subsumed under a single tax system, greatly simplifying the process for exporters.

Another advantage of the deemed exports under GST is that it promotes the growth of local industries. By allowing a refund of input tax credits, the government incentivizes domestic businesses to export their goods and services. This not only boosts the growth of these businesses but also contributes to the overall economic development of the country.

Finally, one of the most significant benefits of deemed exports under GST is that it promotes compliance. With transparency and simplicity being key features of the GST regime, businesses are more inclined to comply with tax laws. This not only benefits the government in terms of revenue generation but also creates a level playing field for all businesses, thereby promoting healthy competition.

In conclusion, deemed exports under GST provide numerous benefits for exporters, ranging from reduced tax burdens and increased cash flow to simplified export procedures and promotion of compliance. It is, therefore, a highly beneficial provision for exporters, promoting not only their growth but also contributing to the country's economic development.

Procedures for Exporting Under GST

The process of exporting under the Goods and Services Tax (GST) regime can appear daunting at first. However, understanding the step-by-step procedure can streamline the process and make it more manageable. The first step in exporting under GST is registering as an exporter. Exporters are required to obtain a GST Identification Number (GSTIN) by registering under the GST Act. This is a 15-digit number that is state-wise, PAN-based, and unique to the exporter.

Post registration, the exporter needs to ensure that they have the necessary documents required for export under GST. These documents include a tax invoice, shipping bill/bill of export, and export general manifest. The tax invoice includes the GSTIN of the exporter, a description of the goods, the quantity of goods, total value of goods, the tax charged, and the signature of the supplier.

The shipping bill or bill of export is the main document required by the Customs Authority for allowing shipment. It includes details such as the name and address of the exporter, the Invoice number, the description of goods, quantity, port of destination, and the country of final destination. The Export General Manifest (EGM) is filed by the carrier of the goods after the goods have been shipped.

Once the necessary documents are in place, the exporter has to file returns in GSTR-1 to declare the details of the goods that are to be exported in the relevant period. The details in GSTR-1 are auto-filled into GSTR-3B, which is a monthly self-declaration that has to be filed by the exporter. After filing the GSTR-3B, the government will process the refund of IGST paid on the goods that were exported.

In case of deemed exports where goods are not actually leaving the country, a different set of procedures are followed. Here, the supply of goods is registered as an export under GST laws even though physical movement of goods does not occur out of the country. The necessary documentation, including a tax invoice and a declaration from the recipient of goods that tax has been paid, is required.

Exporting under GST is a comprehensive procedure that requires strict adherence to rules and regulations. However, with a clear understanding of the process and required compliance, it can be navigated smoothly. The GST regime is designed in such a way that it ensures seamless movement of goods across international borders, thereby encouraging more players to enter the export business.

GST Registration for Exporters in Delhi

In line with the implementation of Goods and Services Tax (GST) in India, it is now mandatory for exporters in Delhi to register their businesses under GST. This process is not just crucial for compliance but also offers several benefits. In this section, we will delve deeper into the process of GST registration for exporters in Delhi and how expert assistance from CA Mapsa can simplify this task.

The first step in the process is to apply for GST registration online through the GST portal. The applicant needs to provide their Permanent Account Number (PAN), mobile number, e-mail address, and State or Union territory for the initial enrolment. The process involves completing a form called GST REG-01, which provides the government with essential details about the business. After the form is duly filled in and submitted, an acknowledgement is issued in the form of GST REG-02.

Document-wise, the list is exhaustive and necessitates careful attention. Some major documents required for GST registration include a PAN card, proof of business registration, Identity and Address proof of Promoters/Director with Photographs, Address proof for the place of business, and Bank Account statement/Cancelled cheque. Digital signatures are also required to complete the application.

Upon submission, the application goes through a verification process by the GST authorities. If everything is found in order, the application is approved, and a GST registration certificate is issued. On the other hand, if there are discrepancies or deficiencies in the application, the GST REG-03 form is issued, asking the applicant to furnish additional information or rectify the mistakes within a stipulated time.

This is where CA Mapsa steps in to help. The GST registration process is complex and time-consuming, especially if you are unfamiliar with the procedures. CA Mapsa, a team of expert chartered accountants, can provide comprehensive guidance in navigating through the complex process. They ensure the correctness of the filled forms, proper submission of the necessary documents, and overall simplification of the process. Apart from registration, they also help businesses understand the GST laws and the tax implications pertaining to deemed exports.

In conclusion, GST registration for exporters in Delhi is a vital step in ensuring the smooth operation of the business. Comprehending the nitty-gritty of the registration process might seem daunting; however, with professional help from experts like CA Mapsa, exporters can conveniently fulfill the legal obligations, reap the benefits under the GST regime, and focus on expanding their business.

Conclusion

Understanding and utilizing the concept of deemed export under the Goods and Services Tax (GST) regime is quintessential for businesses, especially those involved in the export sector. Deemed exports, as discussed throughout the article, are transactions wherein the supply of goods does not leave the country, and the payment for such supplies is received either in Indian rupees or in convertible foreign exchange. The GST Act acknowledges deemed exports, thereby providing an opportunity for exporters to reduce their tax burden significantly.

The significance of deemed exports under GST can be seen in the potential tax benefits it offers to exporters. It provides an avenue for the government to encourage local businesses and bolster the Indian economy. The tax benefits and rebates available to deemed exporters not only make Indian goods competitive in the global market but also boosts the overall export sector.

Moreover, the introduction of GST has streamlined the tax procedures, bringing uniformity to the indirect tax regime. By unifying a plethora of taxes into a single structure, GST has minimized the cascading effect of taxes, thereby making exports more profitable for businesses. The benefits of deemed export under GST also extend to a reduction in the cost of production, which, in turn, positively impacts the competitiveness of Indian goods in the global market.

When it comes to the procedures for exporting under GST, it's essential to remember that any lapse or error in compliance can lead to complications and penalties. Hence, it's paramount that businesses familiarize themselves with the steps involved in exporting under GST and the documents required to complete the process. It is advisable to seek professional assistance to ensure a smooth and hassle-free procedure.

For businesses operating from Delhi, the process of GST registration for exporters follows the general outline as in other parts of the country. However, professional services like CA Mapsa can guide you through the process, helping you avoid any potential pitfalls. Ensuring proper registration and compliance with GST norms can aid businesses in reaping the full benefits of the GST regime.

In conclusion, deemed export under GST holds great potential for businesses, specifically those involved in the export sector. It not only offers substantial tax benefits but can also make Indian goods more competitive in the global market. However, understanding the procedures and ensuring compliance with the GST norms is crucial for businesses to fully exploit the benefits of this provision. For businesses in Delhi, enlisting professional services like CA Mapsa for the GST registration process can ensure a seamless and efficient procedure, allowing businesses to focus on their core activities.

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GST registration in delhi

Looking for the GST registration in delhi? If yes then end your search with CA Mapsa. MAPSA & Co is a reputed & professionally managed chartered accountancy firm practicing into Audit & Assurance, Direct & Indirect Taxation, Company law matters, Accounts outsourcing and Management Consultancy services since 1975 with offices at Delhi, Ambala & Chandigarh. We cater to a variety of clients across the board with a stated policy of following holistic approach, giving complete visibility and best in class turnaround time to each client. This is achieved by bringing the technical and analytical skills to an assignment, which is developed, through the academic background, adoption to latest technology, continuing professional education and engagement experience of our team. MAPSA's professional approach blended with personal touch has earned the firm enormous confidence of all its clients, which is reflected in an enduring business relationship that it enjoys with them and also in the consistent growth in portfolio of its services. The firm regards the provision of a personal and high quality service to the clients as an absolute priority.

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CA firm in Delhi

Hey are you looking for the CA firm in Delhi?  If yes then end your search with CA Mapsa and Company. They cater to a variety of clients across the board with a stated policy of following holistic approach, giving complete visibility and best in class turnaround time to each client. This is achieved by bringing the technical and analytical skills to an assignment, which is developed, through the academic background, adoption to latest technology, continuing professional education and engagement experience of our team. MAPSA's professional approach blended with personal touch has earned the firm enormous confidence of all its clients, which is reflected in an enduring business relationship that it enjoys with them and also in the consistent growth in portfolio of its services. The firm regards the provision of a personal and high quality service to the clients as an absolute priority. With "Quality is Priority" as an ultimate aspiration, MAPSA's vision is to nurture a professional company of repute which is competitive, dynamic and focused team leader in the areas of its operation, providing the best opportunity to progress and grow to all those who are associated with it and also serving the best interests of the clients.

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CA firm in Delhi

Hey are you looking for the CA firm in Delhi? If yes then end your search with CA Mapsa. MAPSA & Co is a reputed & professionally managed chartered accountancy firm practicing into Audit & Assurance, Direct & Indirect Taxation, Company law matters, Accounts outsourcing and Management Consultancy services since 1975 with offices at Delhi, Ambala & Chandigarh. We cater to a variety of clients across the board with a stated policy of following holistic approach, giving complete visibility and best in class turnaround time to each client. This is achieved by bringing the technical and analytical skills to an assignment, which is developed, through the academic background, adoption to latest technology, continuing professional education and engagement experience of our team. MAPSA's professional approach blended with personal touch has earned the firm enormous confidence of all its clients, which is reflected in an enduring business relationship that it enjoys with them and also in the consistent growth in portfolio of its services. The firm regards the provision of a personal and high quality service to the clients as an absolute priority.

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Understanding The Importance Of ITR And Why It Matters

Introduction

The process of earning income, whether it be from a job, a business, or investments, comes with a responsibility - the responsibility of sharing a part of it with the government in the form of taxes. One vital aspect of this process is the Income Tax Return (ITR), an essential financial document that citizens must prepare and submit to their government's tax department. To put it succinctly, an ITR is a form in which taxpayers declare their taxable incomes, deductions, and tax payments. It enables taxpayers to calculate their liability, schedule tax payments, or request refunds for the surplus amount of tax paid. In essence, an Income Tax Return is a statement of your earnings from various sources of income, tax liability, tax paid, and certain other particulars.

So, why is filing an ITR important? First and foremost, it is a legal obligation for individuals and companies earning above a certain income threshold. Not fulfilling this duty can lead to penalties, and in severe cases, legal repercussions. Additionally, filing an ITR is also a testament to your financial discipline and credibility, often serving as concrete financial proof during loan or credit card applications.

The purpose of this article is to provide an in-depth understanding of the concept and importance of ITR and why it matters. We will delve into how to file an ITR, the various types of ITRs, and the necessary paperwork required. We will explore the many benefits of filing ITR, from financial advantages to its impact on your credit score.

We will also discuss the role of professionals in helping you file your ITR and introduce you to the services offered by a renowned CA firm in Delhi. We will further delve into the realm of Goods and Services Tax (GST) Notices and the role of CA Mapsa in this aspect.

In conclusion, we aim to provide you with comprehensive information about ITR filing, from its definition, importance, and benefits to the significance of professional assistance in the process. By the end of this article, you should have a clear understanding of why ITR matters and how you can go about managing it effectively.

Let's get started by outlining the general guidelines for filing an ITR, understanding the different types of ITRs, and discussing the necessary paperwork involved in the process.

Guidelines For Filing ITR

Filing Income Tax Return (ITR) may seem daunting, particularly for new taxpayers. However, understanding the general guidelines for ITR filing can demystify the process and provide much-needed clarity. The guidelines for filing ITR are designed to make the process as straightforward as possible. Adherence to these guidelines ensures that all the necessary information is submitted correctly, thereby reducing the chances of errors or delays.

There are various types of ITRs to cater to different categories of taxpayers, each with its specific requirements. For instance, ITR-1 or Sahaj is for individuals who have income from salaries, one house property, other sources (interest etc.) and whose total income is up to Rs 50 lakh. ITR-2 is for individuals and Hindu Undivided Families (HUFs) who do not have income from profits and gains of business or profession. Understanding which ITR form to file is crucial in the process, as it determines the kind of information you'll need to provide and the tax computations.

The documentation involved is another key aspect of filing ITR. A taxpayer is required to provide details such as PAN card number, Aadhaar card number, bank account details, and details of all sources of income, including salary, rental income, and income from other sources. Additionally, taxpayers must also provide details of all their investments, eligible for deductions under Chapter VI-A of the Income-tax Act. The process involves careful collation and verification of these documents to ensure accurate representation of one's income and investments.

It is important to note that ITR filing is an annual process carried out at the end of a financial year. The government usually provides a specific timeline within which taxpayers are expected to file their returns, usually from April 1 to July 31. Late filing can attract penalties, with the amount of penalty increasing as the delay lengthens. Therefore, following the guidelines can help avoid these unnecessary expenses and hassles.

However, despite these guidelines, filing ITR can still be a complex process that requires a certain level of financial understanding. Many taxpayers may find it difficult to calculate their tax correctly, understand the various deductions and exemptions available, or even fill out the form correctly. For such individuals, it may be a good idea to hire a professional or utilize online tax filing platforms that simplify the process and take care of the technicalities.

In conclusion, filing an ITR is a meticulous process that involves correct understanding of the various guidelines, the appropriate choice of ITR form, accurate representation of income and investments, and adherence to the government's stipulated timelines. With a little patience and effort, it can be easily mastered. However, for those who find it challenging, professional help is always available.

Advantages of Filing ITR

Filing your Income Tax Return (ITR) is not just a legal obligation but also offers numerous financial benefits. It is a misconception that filing ITR is only for individuals with high income. The truth is that anyone who earns an income should ideally file their ITR, not just to comply with the law, but also to secure their financial future.

One of the most significant advantages of filing ITR is that it facilitates a smoother process of claiming tax deductions. When filing an ITR, you can claim deductions under various sections of the Income Tax Act, 1961, reducing your taxable income. These deductions could be for certain investments made, home loan repayments, education loan repayments, or expenditures towards medical insurance, among others. Ensuring that you accurately report these in your ITR can help you save a significant amount on your tax liability.

Filing your ITR also helps you maintain a good credit score. It serves as a comprehensive record of your income and tax payments over the year and demonstrates your financial discipline. Banks and financial institutions often ask for your ITR receipts when you apply for loans, such as home or car loans. Regular and timely filing of ITR thus helps establish your creditworthiness and can lead to quicker loan approvals.

Moreover, the ITR receipts can also be used as proof of income when applying for a visa. Many consulates require you to furnish your ITR receipts of the last couple of years at the time of the visa interview. Thus, if you have been regularly filing your ITR, it will be easier for you to provide the necessary documentation and get your visa approved.

Additionally, filing ITR can also help you avoid penalties from the Income Tax Department. If you do not file your ITR, the tax department can impose a penalty on you, which can be financially burdensome. Moreover, you can also be prosecuted and may have to serve jail time in extreme cases. Hence, filing ITR can save you from such legal complications.

In conclusion, filing ITR is not just about staying in the good books of the tax authorities. It is a crucial aspect of your financial planning and can help you optimize your financial resources, establish your creditworthiness, and avoid legal complications. Whether you are an individual with a modest income or a high net worth, the advantages of filing ITR are significant and can pave the way for your financial security.

Hiring A Professional For Filing ITR

Filing Income Tax Returns (ITR) can sometimes be a complex process, especially for those not well-versed with tax laws and regulations. This is where hiring a professional comes into play. Tax professionals, like Chartered Accountants (CA), are well trained and have extensive knowledge of the latest tax laws and amendments. They can help you navigate through the process of filing ITR, ensuring you comply with all laws and regulations while maximizing your deductions.

One of the main benefits of hiring a professional for filing ITR is their expertise in tax planning. A professional can help you understand how different types of income are taxed and how to take advantage of the various deductions and exemptions available. They can provide advice on tax-saving investments and guide you in planning your finances in a tax-efficient manner. Additionally, a professional can help you identify potential red flags and avoid errors that might lead to penalties or notices from the tax department.

Many CA firms in Delhi and all over the country offer a broad range of services related to ITR filing. These services may include income tax planning, computation of tax liability, tax return preparation, and filing of tax returns. They can also represent you before the Income Tax Department in case of any tax disputes or audits. Some CA firms even provide additional services like GST registration and filing, company incorporation, and financial planning.

The process of hiring a CA firm for filing ITR starts with identifying your specific needs and then scouting for a firm that best suits those needs. It's essential to look at the firm's reputation, expertise, and service fees before making a final decision. Once you've chosen a firm, you'll need to provide them with all the necessary financial documents, including Form 16, bank statements, and details of all your income and investments. The firm will then prepare your tax returns, help you understand your tax liability, and file the returns on your behalf.

Engaging a professional for filing ITR brings in a sense of assurance and peace of mind. It not only saves you time and effort but also ensures that your ITR is filed correctly and on time. Moreover, a professional can help you plan your taxes better, reducing your overall tax liability.

In conclusion, hiring a professional for filing ITR can be highly beneficial, particularly for those with multiple sources of income or complex financial situations. It's an investment that can save you a lot of stress, time, and potentially a substantial amount of money in the long run.

GST Notice and CA Mapsa

GST, or Goods and Services Tax, is a critical component of the Indian taxation system, and a GST notice is an official communication issued by the tax department. The reasons for receiving a GST notice can vary greatly, from discrepancies in the GST returns filing to non-payment or underpayment of tax. It's essential to address the issues raised in a GST notice promptly and accurately to avoid penalties and other potential legal implications.

CA Mapsa, on the other hand, refers to Chartered Accountant firms, particularly those located in Mapsa, a town in North Goa, India. These firms offer a wide range of financial services, including helping clients navigate the complexities of the taxation system. They are proficient in handling GST notices, among other tax-related issues.

One of the significant advantages of using CA Mapsa for receiving GST notices is their expertise in the tax field. They understand the regulations, timelines, and procedures involved in responding to GST notices. They can provide valuable guidance on how to respond to these notices and can even act on your behalf to resolve the issues with the tax department.

Notably, CA Mapsa also ensures accurate filing of tax returns, which can significantly reduce the chances of receiving a GST notice. They thoroughly review your financial documents and transactions to ascertain that all the details provided in the tax returns are correct. This meticulous process can help identify and rectify potential errors or discrepancies that might trigger a GST notice.

Moreover, hiring CA Mapsa for handling GST notices provides peace of mind. You can focus on your core business operations without worrying about tax-related issues. The professionals at these firms are always updated with the latest changes in tax laws and regulations, ensuring that your business remains compliant with all the tax obligations.

To summarize, a GST notice is an official document you receive when there are issues with your GST filings or payments. Dealing with these notices can be a daunting task due to the complexities of the tax system. However, hiring a professional service like CA Mapsa can alleviate these challenges by providing expert guidance and assistance in handling GST notices and other tax-related matters. Their in-depth knowledge and expertise in taxation can ensure smooth and compliant tax processes for your business.

Conclusion

As we bring this discussion to a close, it's imperative to underscore once again the importance of filing income tax returns (ITR). Filing your ITR forms a crucial part of your financial responsibilities, offering you an opportunity to contribute to the nation's development while ensuring your financial health. The importance of ITR is not merely limited to statutory compliance; it transcends that to include broader financial implications for individuals and businesses alike.

Filing ITR diligently and promptly offers several advantages. It serves as a robust proof of your income, making it easier for you to avail loans or insurances, where your financial stability is a key decision factor. It also makes you eligible for tax refunds, allowing you to claim back any excess tax paid during the year. For businesses, accurate and timely ITR filing can add to their credibility, making it easier for them to attract potential investors.

The process of filing ITR can seem overwhelming, given the complexity of tax laws and the precision required in maintaining financial records. This is where hiring a professional for filing ITR can bring immense benefits. Professionals like Chartered Accountants (CA) possess comprehensive knowledge about tax laws and can guide you through the process of ITR filing, ensuring accuracy and compliance.

More specifically, CA firms in Delhi, and indeed across India, offer a range of services including tax planning, ITR filing, and GST consulting. Hiring a professional service not only simplifies the process for you but also minimizes the risk of errors that could potentially lead to penalties or legal issues. This, coupled with their expertise in claiming tax deductions, ensures that you optimize your tax savings legally.

The role of technology in tax compliance cannot be ignored either. Platforms like CA Mapsa have revolutionized the way we receive GST notices, making the whole process more streamlined and hassle-free. Using such platforms allows you to stay updated with the latest notifications and reduces the risk of non-compliance.

In conclusion, the importance of filing ITR extends beyond mere compliance with tax laws. It is an integral part of your financial planning and management. By understanding and embracing the process, by leveraging professional help when needed, and by taking advantage of digital platforms for GST-related compliance, one can ensure that they remain financially healthy and compliant with all statutory requirements. Filing your ITR isn't just a financial obligation – it's a testament to your contribution towards the nation's progress.

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CA firm in Delhi

Hey are you looking for CA firm in Delhi? If yes then end your search with CA Mapsa and Company. MAPSA & Co is a reputed & professionally managed chartered accountancy firm practicing into Audit & Assurance, Direct & Indirect Taxation, Company law matters, Accounts outsourcing and Management Consultancy services since 1975 with offices at Delhi, Ambala & Chandigarh. We cater to a variety of clients across the board with a stated policy of following holistic approach, giving complete visibility and best in class turnaround time to each client. This is achieved by bringing the technical and analytical skills to an assignment, which is developed, through the academic background, adoption to latest technology, continuing professional education and engagement experience of our team. MAPSA's professional approach blended with personal touch has earned the firm enormous confidence of all its clients, which is reflected in an enduring business relationship that it enjoys with them and also in the consistent growth in portfolio of its services. The firm regards the provision of a personal and high quality service to the clients as an absolute priority.

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New Company Formation

Hey are you looking for the New company formation? If yes then end your search with CA Mapsa. MAPSA & Co is a reputed & professionally managed chartered accountancy firm practicing into Audit & Assurance, Direct & Indirect Taxation, Company law matters, Accounts outsourcing and Management Consultancy services since 1975 with offices at Delhi, Ambala & Chandigarh. We cater to a variety of clients across the board with a stated policy of following holistic approach, giving complete visibility and best in class turnaround time to each client. This is achieved by bringing the technical and analytical skills to an assignment, which is developed, through the academic background, adoption to latest technology, continuing professional education and engagement experience of our team. Statutory Audits are conducted to report the state of company’s finances and accounts to the Government of India. At TRC an elite team of qualified auditors are designated to do such audits. The audit report are prepared strictly in accordance with the rules and regulations defined by the Government agencies.

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Don't Miss A Beat: The Ultimate Document Checklist For GST Registration

Introduction:

GST Registration is an important requirement for businesses in India that wish to transact legally and receive tax benefits. It involves filing an application with the Goods and Services Tax Network portal and submitting the required documents. As a business owner, it is important to know what documents are needed for GST registration so that the process can be completed in a timely manner.

GST registration is the first step in the process of complying with the Goods and Services Tax laws. It is mandatory for businesses that provide taxable services or goods or have an annual turnover above the threshold limit as prescribed by the government. GST registration makes tax registration and filing simpler and more efficient. Businesses with GST registration can enjoy various benefits such as input tax credit and reduced tax burden.

GST registration is a necessary process for businesses in India. It ensures that businesses comply with the laws and regulations of the Goods and Services Tax. It also helps to make the process of collecting taxes and filing tax returns simpler and more efficient.

The documents required for GST registration vary depending on the type of business and its location. Some documents such as PAN card, address proof, and bank account details are mandatory for all businesses regardless of their location. Other documents such as principal place of business details and authorized signatory details are required only for certain types of businesses.

It is important to gather all the required documents before filing the GST registration application. This ensures that the process is carried out smoothly and without any delays. This article will provide a comprehensive checklist of documents required for GST registration. It will also explain why it is important to gather all the documents before filing the GST registration application. Finally, it will provide information on the benefits of working with a professional such as CA Mapsa and Company to assist with the GST registration process.

Document Checklist:

GST registration involves submitting certain documents to the government. These documents enable the authorities to verify the identity and conduct of the applying company. The documents vary based on the nature of the business and the type of company.

The most essential document is the PAN card. This document is a unique identification number for the company and is needed as proof of identity. Along with the PAN card, it is necessary to provide address proof. This can be either an electricity bill, telephone bill, or property deed.

In addition to this, the company must also provide details of its bank accounts. This includes a canceled cheque of the bank account and the bank's IFSC code. For businesses that have multiple offices, it is necessary to provide details of the principal place of business. This should include the address, contact number, and emails of the office.

The authorized signatory of the company must also be declared. For this purpose, the company must submit his/her photograph, address proof, and PAN card. Furthermore, the nature of the business must also be provided. This should include the type of goods/services that the company is dealing in, along with the types of transactions. Lastly, the constitution of the company should also be provided.

Apart from these documents, companies must also submit CIS/PAN details of all their suppliers. This should include the tax identification number of each supplier. Furthermore, a digital signature certificate is also needed. This should be obtained from a certifying agency approved by the government.

The company must also provide its TAN/TDS certificate. This is a 10-digit alphanumeric code that is issued to the company when it registers for Tax Deduction and Collection Account Number (TAN). The company must also submit a canceled cheque of the bank. Lastly, the company must also provide a copy of its registration certificate.

These documents are mandatory for GST registration. Without them, the registration process cannot be completed. However, the whole process of gathering these documents can be quite cumbersome. Companies that are applying for GST registration in Delhi often seek the help of professionals for this purpose.

Other Documents Needed:

When it comes to filing for GST registration, there are certain other documents that are required, in addition to the documents already mentioned. These documents are necessary for a smooth and hassle-free GST registration process.

CIS/PAN Details of Suppliers: The person who applies for GST registration needs to provide the PAN/CIS of all the suppliers they have worked with in their business. This is a prerequisite to registering with the GST.

Digital Signature Certificate (DSC): A Digital Signature Certificate is required for the authentication of the documents filed. The signatory who is signing the documents must have a valid Digital Signature Certificate.

TAN/TDS Certificate: A valid TAN/TDS certificate is also needed for GST registration and must be provided along with the other documents.

Canceled Cheque of the Bank: A canceled cheque or a copy of the bank statement is necessary for GST registration. This is to ensure that the bank details provided by the person who applies for GST registration are valid and authentic.

Copy of Registration Certificate: The applicant should also provide a copy of the registration certificate which has been issued by the taxation authorities. This certificate will serve as proof of their GST registration.

These documents are necessary for GST registration in Delhi and other parts of India. If any of these documents are not provided, the process of registering for GST will not be successful. It is therefore important to gather all of these documents in order to ensure a smooth registration process.

Furthermore, it is important to keep all these documents in a secure place as they may be needed in the future. This is especially true if there is a need to raise an invoice or file a return for GST. Having all the documents in one place will make the process easier and more efficient.

Professional Assistance:

When it comes to GST registration, it is always a good idea to work with a professional. A professional can ensure that the entire process goes smoothly and that the documents submitted are all in order. Working with a professional also offers many other benefits.

The first step in getting professional help is to find a reliable and experienced chartered accountant (CA). CA Mapsa and Company is a trusted and experienced firm that specializes in GST registration. The company has a team of experienced CAs who can help you navigate the process of registering your business for GST. They can assist you from start to finish and make sure that all documents are properly filed and updated.

The CAs at CA Mapsa and Company are well-versed in GST registration and all the related requirements. They will review all documents and identify any potential problems. They can also provide advice on the best way to proceed. Furthermore, they can provide assistance with filing the GST returns and ensuring that all deadlines are met.

Working with a professional can make a big difference when it comes to GST registration. The CAs at CA Mapsa and Company will help you stay on top of all filing requirements and make sure that everything is in order. This can save you a lot of time and energy. Furthermore, they can provide guidance on the best way to structure your business and maximize your savings.

Another great benefit of working with a professional is that they will provide support in the event of any discrepancies or issues with the documents submitted. They can also provide assistance in the event of any tax related disputes or audits. This can help to ensure that your business is fully compliant with all GST regulations.

Overall, working with a professional is the best way to ensure that the GST registration process goes smoothly and that all documents are in order. CA Mapsa and Company can provide expert assistance and ensure that everything is taken care of. Their team of experienced CAs will provide the support and guidance you need to get the job done in a timely and efficient manner.

Conclusion:

The process of obtaining GST registration can appear a bit daunting, but with the right guidance it can be achieved without too much hassle. This article has provided an extensive checklist of documents needed for GST registration, and why it is important to gather each of them.

It is especially helpful for those in Delhi and nearby areas, as GST registration is necessary for any business in this region. The benefits of GST registration are many, such as access to input tax credit, avoidance of too much paperwork and compliance with the Indian tax system.

For any business or individual looking to obtain GST registration in Delhi, it is best to work with professional experts such as CA Mapsa and Company. Working with a professional can be beneficial in many ways, such as helping to ensure that the entire process is completed in a timely and efficient manner. Professional firms such as CA Mapsa and Company can provide the right guidance and walk the client through the entire process, from start to finish.

In conclusion, the ultimate document checklist for GST registration in Delhi covers all the necessary documents to get your business registered with the government. It is important to collect all these documents before starting the process and to have them ready before filing the application for GST registration. Having professional assistance during the process can be extremely helpful and can help the business owners navigate through all the steps involved in the registration process.

At CA Mapsa and Company, we are here to provide our clients with the help and support needed to ensure a smooth GST registration process. Our team of professionals has the expertise and experience to help you understand the process and handle all the paperwork and documents required for GST registration.

We hope that this document checklist for GST registration has been helpful for you. If you have any questions or need any assistance, please feel free to contact us. We look forward to helping you!

https://camapsa.com/good-service-tax

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GST registration in delhi

Hey are you looking for the GST registration in delhi? If yes then end your search with CA Mapsa and Company MAPSA & Co is a reputed & professionally managed chartered accountancy firm practicing into Audit & Assurance, Direct & Indirect Taxation, Company law matters, Accounts outsourcing and Management Consultancy services since 1975 with offices at Delhi, Ambala & Chandigarh. We cater to a variety of clients across the board with a stated policy of following holistic approach, giving complete visibility and best in class turnaround time to each client. This is achieved by bringing the technical and analytical skills to an assignment, which is developed, through the academic background, adoption to latest technology, continuing professional education and engagement experience of our team. MAPSA's professional approach blended with personal touch has earned the firm enormous confidence of all its clients, which is reflected in an enduring business relationship that it enjoys with them and also in the consistent growth in portfolio of its services. The firm regards the provision of a personal and high quality service to the clients as an absolute priority.

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A Complete Guide To Understanding Form 16 For Salaried Employees

Introduction

Understanding Form 16 is essential for salaried employees. Form 16 is an important document issued by employers to employees when they submit their income tax returns with  Tax audit in delhi. This document contains the essential information regarding the salary paid to the employee and the taxes deducted in the financial year. It is important for employees to understand the importance of Form 16 and the benefits it provides.

Form 16 is a certificate issued by the employer upon completion of the financial year. It is also known as the TDS Certificate and is issued by the employer to the employee in accordance with the provisions of Section 203 of the Income Tax Act, 1961. The Form 16 includes the details of salary paid to the employee and the taxes deducted thereon. The purpose of Form 16 is to record the amount of tax deducted from the salary of the employee and to provide the employee with a certificate of the same.

The Form 16 is issued by the employer to the employee on or before the due date for filing of income tax returns. The due date for filing income tax returns is 31st July of the assessment year. The Form 16 is the most important document for the employee as it helps the employee to make an accurate income tax return. The form provides essential details for the computation of tax liability of the employee.

It is important for the employees to understand the importance of Form 16 and the benefits it provides. Form 16 helps the employee to get a tax rebate on the taxes paid by him and also helps in avoiding any penalty due to tax evasion. Form 16 also helps the employee keep a record of his income and taxes deducted from his salary on yearly basis. It helps the employee to keep a track of his income and taxes paid and to claim tax benefits available to him.

Form 16 is also essential for the purposes of tax audit. A tax audit is conducted by the Income Tax Department to determine the correctness of the income tax returns filed by the taxpayer and to ascertain whether the taxpayer has paid the correct amount of taxes. The records maintained in the Form 16 are essential for the purposes of tax audit.

Form 16 also helps the employee to avail the deductions and exemptions available to him under the Income Tax Act, 1961. The deductions and exemptions are available to the employees on the basis of their income and the Form 16 helps them to make a claim for such deductions and exemptions.

By understanding the importance of Form 16, salaried employees can ensure that they are paying the correct amount of taxes and can also avail the deductions and exemptions available to them. This guide aims to provide a comprehensive understanding of Form 16 and the benefits it provides to salaried employees.

What is Form 16?

Form 16 is a document issued by an employer to its employee, which serves as a certificate for tax deductions. It is essentially a proof that the employer has duly deducted taxes from the salary of the employee and has remitted the same to the government. The Form 16 also contains detailed information regarding the salary paid by the employer, the taxes deducted, and other deductions applicable to the employee.

Definition of Form 16:

Form 16 is a document issued by employers to their employees, in accordance with Section 203 of the Income Tax Act, 1961. It is issued on an annual basis and serves as a certificate for tax deductions. The Form 16 contains the details of the salary paid by the employer, the taxes deducted, and other deductions applicable to the employee.

What documents are included in Form 16?

Form 16 consists of two main parts. Part A of the Form 16 contains the details of the TDS deducted from the salary of the employee and deposited with the government. Part B of the Form 16 contains the summary of the salary paid by the employer, along with the deductions and exemptions applicable to the employee.

What information is provided in Form 16?

Form 16 contains the following information:

• Employer’s name and address

• Employee’s name and PAN

• Details of salary paid by the employer

• Details of TDS deducted from the salary

• Details of deductions and exemptions applicable to the employee

• Accounting period and assessment year for which the form is applicable

• Amount of tax refund (if any) received by the employee

• Tax Audit Report (if applicable)

Form 16 is a useful document in assessing one’s tax liabilities and filing returns with the Income Tax Department. It is essential that the information provided in the Form 16 is accurate and updated in order to avoid any discrepancies.

When to File Form 16?

Form 16 is an important document for salaried employees and it is important to file it on time. The due date for filing Form 16 is the 31st of July of the financial year, or a month after the end of the financial year in which the tax has been deducted. It is important for salaried employees to keep track of this due date in order to avoid any penalties or fines.

The employer is responsible for filing the Form 16 on behalf of the employee. The employer must ensure that the Form 16 is filed before the 31st of July of the financial year or a month after the end of the financial year in which the tax has been deducted. The employer must also make sure that all other documents required to file Form 16 are in order and are included in the document.

The employer must also ensure that the Form 16 has been signed and stamped by a Chartered Account (CA) or a Tax Return Preparer (TRP) before it is filed. This is an important step in the filing process as it ensures that the document is authentic and legally valid.

It is important to note that the due date for filing Form 16 may be different in certain cases. For example, if the employee has shifted from a job in one financial year to another in the next financial year, then the due date for filing Form 16 for both the jobs is the 31st of July of the current financial year.

Similarly, if the employee has not completed the full financial year of employment and the Form 16 has been filed for a period less than a year, then the due date for filing is the end of the month in which the employment has been terminated.

It is also important to note that the due date for filing Form 16 may vary in certain cases. For example, if the employee is a non-resident Indian (NRI), then the due date for filing Form 16 is the 30th of June of the current financial year.

Finally, the due date for filing Form 16 may be extended in certain cases. For example, if the employee has been ill or the employer has been unable to file Form 16 due to an administrative issue, then the due date for filing Form 16 can be extended to the next financial year.

In conclusion, it is important for salaried employees to keep track of the due date for filing Form 16. The employer is responsible for filing Form 16 on behalf of the employee and must ensure that the document is filed before the due date. It is also important to note that the due date for filing Form 16 may change depending on the circumstances and may be extended in certain cases.

How to File Form 16?

Form 16 is a crucial document for salaried employees as it contains the details of their income and taxes paid. As such, filing Form 16 correctly and in a timely manner is essential for employees to avoid any penalties or legal consequences.

The process of filing Form 16 can be done either manually or online. For those who prefer to do it manually, here are the steps:

1. Collect all the information needed – This includes the employee’s PAN Card number, salary details, and taxes paid for the financial year.

2. Prepare Form 16 – Using this information, the employee should prepare the Form 16, which must include the name of the employer, the employee’s salary details, and taxes paid.

3. Submit Form 16 to the employer – Once the Form 16 is completed, the employee must submit it to their employer.

4. Receive the Form 16 Certificate – After the employer has checked and approved the Form 16, they will issue a certificate. This certificate must be signed by both the employee and the employer.

For those who want to do it online, here are the steps:

1. Register for the e-filing portal – The employee must first register on the e-filing portal of the Income Tax Department of India.

2. Collect all the information needed – The employee must collect all the information needed to fill the Form 16, such as their PAN Card number, salary details, and taxes paid for the financial year.

3. Fill and submit Form 16 – Once the information is ready, the employee can then fill the Form 16 and submit it to the e-filing portal.

4. Receive the Form 16 Certificate – After the submission of the Form 16, the employer will issue a certificate. This certificate must be signed by both the employee and the employer.

In either case, it is important that the employee double-checks all the information provided in the Form 16 before submitting it. This is to ensure that all the details are accurate and that it meets the requirements set by the Income Tax Department.

Filing Form 16 is an important part of the annual tax filing process for salaried employees. It is important that the employee follows the steps correctly and submits the Form 16 on time to avoid any penalties or legal consequences.

Common Questions about Form 16

Form 16 is one of the most important documents for salaried employees when it comes to filing income tax returns. It is essential to understand the concept and implications of Form 16, which is why it is important to be aware of the common questions related to Form 16.

What if I receive Form 16 late?

If you receive your Form 16 from your employer late, there is no need to panic. The due date for submission of income tax returns is still the same and there is no penalty for late submission of Form 16. However, it is important to ensure that you obtain the Form 16 from your employer in time before submitting your income tax returns.

What if I need to make changes to Form 16?

If you realize that there are any mistakes or discrepancies in the Form 16, it is important to immediately contact your employer and inform them. Your employer or the concerned authority is liable for rectifying any mistakes or discrepancies in the Form 16.

When will I receive the Form 16 certificate?

The due date for issuance of Form 16 certificate is the 31st of May of the financial year. If your employer fails to meet this deadline, then they are liable to pay a penalty of Rs. 100 per day for any delay in issuing the Form 16 certificate.

Are there any other documents that I need to submit along with Form 16?

Apart from Form 16, you may also need to submit Form 12BA, Form 26AS, and Form 16A, depending upon the details mentioned in your Form 16. Form 12BA is needed in case you have received any perks or benefits from your employer other than the salary, Form 26AS is needed to confirm the advance tax you have paid, and Form 16A is needed to confirm the details of the tax deducted by the employer.

Can I access Form 16 online?

Yes, you can access your Form 16 online. The TRACES portal of the Income Tax Department allows you to view, download and print your Form 16. All you need to do is log in to the portal with your PAN number and password and you can view your Form 16.

What if I do not receive Form 16 from my employer?

If your employer fails to issue Form 16 even after the due date, then you can approach the Income Tax Department and file a complaint against your employer. The department will then take action against your employer and ensure that you receive your Form 16 certificate.

What should I do if I have any other questions about Form 16?

In case you have any other questions or queries related to Form 16, it is best to consult a qualified tax professional or a tax consultant. They will be able to provide you with the best advice and help you understand the implications of Form 16.

Tax Audit and Form 16

Tax audit is an important aspect of understanding and filing Form 16. It is a process of verifying the correctness of the financial information provided by an individual or entity, and ensuring that it meets the requirements of the Income Tax Act. This is usually done by a qualified tax auditor. The tax auditor will review the financial records of the individual or entity, and make sure they are in compliance with the relevant laws.

For salaried individuals, tax audit is particularly important when it comes to filing Form 16. It is crucial to ensure that the information provided on the form is accurate and in compliance with the laws. The tax auditor will review the financial statements and records to verify that the incomes, deductions and other information provided on the form is accurate and in compliance with applicable laws. The auditor will then provide a report to the relevant authorities to show that the information provided on the Form 16 is true and correct.

It is important to find the right tax auditor for your Form 16. The auditor should have experience in dealing with Form 16 and have an in-depth knowledge of the relevant laws and regulations. The auditor should also be familiar with the different types of incomes and deductions that are considered when calculating tax liabilities. The auditor should also be able to answer any questions that you have regarding the Form 16 and tax audit process.

CA Mapsa & Co. is one of the leading tax auditors in Delhi and specializes in providing tax audit services to salaried individuals. They have a team of qualified and experienced professionals who have a deep understanding of the relevant laws and regulations involved in filing Form 16. They also provide comprehensive solutions for filing Form 16 and tax audit in Delhi and ensure that all the information provided on the form is accurate and in compliance with the laws.

The tax audit process conducted by CA Mapsa & Co. is conducted in accordance with the highest professional standards. They have a team of experienced professionals who have an in-depth understanding of the different types of incomes and deductions that are considered when calculating tax liabilities. In addition, they also provide comprehensive solutions for filing Form 16 and tax audit in Delhi, and ensure that all the information provided on the form is accurate and in compliance with the laws.

In conclusion, tax audit is an important aspect of filing Form 16. It is essential to find the right tax auditor for this process to ensure that the information provided on the form is accurate and in compliance with the laws. CA Mapsa & Co. is one of the leading tax auditors in Delhi and specializes in providing tax audit services to salaried individuals. They have a team of qualified and experienced professionals who have a deep understanding of the relevant laws and regulations involved in filing Form 16 and provide comprehensive solutions for filing Form 16 and tax audit.

Conclusion

Understanding Form 16 is essential for salaried employees to be able to file their taxes correctly and on time. In this guide, we looked closely at Form 16 and provided a comprehensive overview of its importance, benefits, and filing process.

We discussed the definition of Form 16 and the various documents and information included in it. We also discussed the due date for submission and the penalties for non-submission of Form 16. Additionally, we delved into the steps for filing Form 16 and how to generate it online.

Subsequently, we answered common questions that salaried employees may have about Form 16 including how to make changes to it, when to receive the Form 16 certificate, and what to do if it is received late. Lastly, we provided a detailed overview of tax audit and the role it plays in Form 16. We also discussed how to find the right tax auditor and the services of CA Mapsa & Co.

In summary, Form 16 is an essential document for salaried employees to file their taxes correctly and on time. It is important to understand the complexities of Form 16, be aware of the due date for submission, and engage the services of a qualified tax auditor like CA Mapsa & Co. to ensure that everything is in order.

In the end, we hope this guide has been helpful in educating salaried employees on the importance of understanding Form 16 and its filing process. We also hope that this guide has been useful in providing answers to some of the most commonly asked questions about Form 16.

[camapsa]

GST registration in Delhi.

Hey are you Looking for the GST registration in delhi? If yes then end your search with CA Mapsa& Company. MAPSA & Co is a reputed & professionally managed chartered accountancy firm practicing into Audit & Assurance, Direct & Indirect Taxation, Company law matters, Accounts outsourcing and Management Consultancy services since 1975 with offices at Delhi, Ambala & Chandigarh. MAPSA's professional approach blended with personal touch has earned the firm enormous confidence of all its clients, which is reflected in an enduring business relationship that it enjoys with them and also in the consistent growth in portfolio of its services. The firm regards the provision of a personal and high quality service to the clients as an absolute priority. With "Quality is Priority" as an ultimate aspiration, MAPSA's vision is to nurture a professional company of repute which is competitive, dynamic and focused team leader in the areas of its operation, providing the best opportunity to progress and grow to all those who are associated with it and also serving the best interests of the clients.

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CA firm in Delhi

Hey are you looking for CA firm in Delhi? If yes then end your search with CA Mapsa. MAPSA & Co is a reputed & professionally managed chartered accountancy firm practicing into Audit & Assurance, Direct & Indirect Taxation, Company law matters, Accounts outsourcing and Management Consultancy services since 1975 with offices at Delhi, Ambala & Chandigarh. We cater to a variety of clients across the board with a stated policy of following holistic approach, giving complete visibility and best in class turnaround time to each client. This is achieved by bringing the technical and analytical skills to an assignment, which is developed, through the academic background, adoption to latest technology, continuing professional education and engagement experience of our team. MAPSA's professional approach blended with personal touch has earned the firm enormous confidence of all its clients, which is reflected in an enduring business relationship that it enjoys with them and also in the consistent growth in portfolio of its services. The firm regards the provision of a personal and high quality service to the clients as an absolute priority.