Knowledge Centre | VVREDDY & ASSOCIATES - GST, Tax Audit, ROC, TDS Guides

Topics on this page

GST – registration & returns
Tax Audit – when it applies
ROC / MCA – annual filings
TDS & payroll basics
Choosing a business structure
Books & records basics

GST – Registration & Returns

A quick view of when GST is needed, broad types of registration and how filings usually work for a normal business.

When do you need GST registration?

Turnover above the threshold prescribed under GST for goods or services (limits may change over time; always check the latest notification).
If you are making inter‑state taxable supplies, running an e‑commerce business, or acting as an agent for others.
If you want to pass on input tax credit (ITC) to your customers or claim ITC on your purchases.

Related service: Goods & Services Tax (GST) | See also: GST FAQs

Types of GST registrations (high level)

Regular registration – for most normal businesses who want to collect GST and claim input tax credit (ITC).
Composition scheme – for smaller taxpayers who pay tax at a fixed rate on turnover with simpler returns, but cannot issue tax invoices or claim ITC.
Casual / non‑resident taxable person – for persons making temporary taxable supplies in India without a fixed place of business.

The right option depends on turnover, type of supplies and how your customers claim ITC. We help you evaluate what is practical before registering.

Common GST filings for a regular taxpayer

GSTR‑3B – summary return, usually filed monthly/quarterly with tax payment.
GSTR‑1 – outward supply details (sales), filed monthly/quarterly.
Annual return – yearly reconciliation and disclosures, and in some cases a separate GST audit.

We help with registration, monthly/quarterly returns, annual return and GST audits, including reconciliations and LUTs for exporters.

Tax Audit – When It Applies

Tax audit is a chartered accountant’s examination of your books under the Income Tax Act.

Typical situations where Tax Audit is required

Business turnover crossing the threshold prescribed under the Income Tax Act for a given financial year.
Professionals whose gross receipts cross the prescribed limits for that year.
Cases where presumptive taxation is opted for but conditions are not fully complied with.

During a tax audit, we examine books, verify compliance and file the relevant tax audit report forms electronically.

Information usually reviewed during Tax Audit

Books of account and trial balance for the financial year.
Details of loans, advances, related party transactions and major expenses.
Compliance with TDS, indirect tax and other statutory requirements that impact income‑tax reporting.

Good bookkeeping through the year makes tax audit smoother and reduces last‑minute stress and queries.

ROC / MCA – Annual Company Filings

Companies and LLPs have to file annual forms with the Registrar of Companies (ROC) under the Companies Act.

Basic annual compliance for a Private Limited company

Board and general meetings held and properly minuted.
Financial statements prepared and, where applicable, audited.
Annual forms filed with ROC/MCA (such as AOC‑4, MGT‑7 and other event‑based forms as required).

Related services: Filings & Reports, Secretarial Services | For questions: ROC & Secretarial FAQs

LLP and event‑based ROC compliances (overview)

LLPs must file their annual statements and solvency information with ROC within prescribed timelines.
Changes in directors/partners, registered office, share capital or business objects often require event‑based forms.
Failure to file on time can lead to additional fees and, in some cases, notices or restrictions.

We map your corporate events through the year and ensure relevant ROC/MCA forms are identified and filed.

TDS & Payroll – Key Points for Employers

TDS and payroll compliances affect salaries, vendor payments and statutory contributions.

Common TDS and payroll responsibilities

Deducting TDS on specified payments (salary, professional fees, rent, contracts etc.) at the applicable rates.
Depositing TDS within prescribed due dates and filing quarterly TDS returns.
Issuing Form 16/16A to employees and vendors, and ensuring PF, ESI and Professional Tax are correctly handled.

Related service: TDS & ESI, PF, Professional Tax | For quick questions, you can also see relevant items in our FAQ.

Some common TDS sections you may hear about

TDS on salary, usually handled through payroll along with PF/ESI/Professional Tax.
TDS on professional / technical fees, rent, contract payments and certain interest or commission payments.
Higher TDS rates where PAN/Aadhaar or compliance status of the payee is not in order, as per law.

We help you map payments to the right section and rate so that returns and Form 16/16A match the books.

Choosing a Business Structure

The right structure depends on ownership, funding, risk and compliance appetite.

Common structures Indian businesses consider

Proprietorship / Partnership – simpler to start, suitable for smaller, owner‑driven setups.
LLP – partnership with limited liability and a corporate flavour for professionals and joint ventures.
Private Limited Company – preferred where external funding, ESOPs or faster scaling is expected.
India entry options – Liaison Office, Branch Office, Project Office, or Wholly‑Owned Subsidiary for foreign entities.

We advise on choosing a suitable structure and then handle the end‑to‑end registration and ongoing compliance.

Examples of registrations commonly seen

GST registration for domestic trading, services, exports or imports.
Professional Tax, Shops & Establishments and labour‑related registrations as applicable in your State.
MSME/Udyam registration to access certain benefits and schemes for micro, small and medium enterprises.

We review your business model and suggest a registration roadmap instead of applying for everything blindly.

Books & Records – Getting the Basics Right

Strong accounts make GST, Income Tax, ROC and audits far easier to handle.

Good practices for day‑to‑day accounting

Recording all invoices, expenses, bank transactions and cash movements regularly instead of waiting till year‑end.
Reconciling bank statements, loan accounts and major ledgers at least monthly or quarterly.
Keeping backup copies of key documents (invoices, agreements, challans, returns) in an organised digital folder.

Systematic books reduce notice‑risk, speed up audits and give you better MIS for decision‑making.