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GST Registration in Chennai - Kanakkupillai

Register for Gst Online is the best available method rather than standing in lines to get a document filed. Worry not! Reach us at Kanakkupillai. We will guide you through a hurdle less path of the Gst filing. We are here to finish the entire procedure on-time. We, at kanakkupillai, have impeccable talents,Our representatives are very approachable. We have an ample amount of software that is very much effective and reliable, as the details of the due date, documents etc are all available in it. along with registration. Our firm is specifically for the Gst registration and tax process. Reach us at 7305345345.

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GST Registration in Chennai - Kanakkupillai

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  1. Taxman demands GST on brands, logos – Kanakkupillai www.kanakkupillai.com

  2. Indirect Tax – GST • Some Indian conglomerates and foreign banks are among those under the scanner for allowing subsidiaries or Indian entities to use brand names and logos they own for free. • The indirect tax department wants these entities to put a valuation on the brand names and logos, charge fees from the subsidiary or group company and pay 18% goods and services tax (GST) on that, according to people with direct knowledge of the matter.

  3. Issue Raised Before • Tax experts said that under GST law, a transaction between related parties — a company and its subsidiary or an Indian arm and its parent overseas — is liable even if there is no consideration. • This has resulted in the indirect tax department raising demands on the brands and logos that are owned by a holding company or conglomerate but used by subsidiaries and group companies without any payment.

  4. Brand Logos “Companies that have allowed use of brand, product licences, logos etc. would have to determine the open-market value of these and pay GST on the same,” said RiteshKanodia, partner, Dhruva Advisors, a tax advisory firm.

  5. GST Charging • The tax department wants the banks to pay 18% GST on the ‘deemed’ value of the brand transactions and pay tax on the fees charged. • “Charging of GST could be an entirely revenue-neutral exercise as credit may be available to the recipient,” said Kanodia. But “if not done, (this) could result in unnecessary litigation.”

  6. Tax on logos and brands • For the banks, a large part of the GST would become pure cost as they would not be able to set it off against future tax liabilities, experts said. Tax on logos and brands hadn’t been an issue under the erstwhile tax regime but in the GST framework nothing is entirely free of cost, they said.

  7. GST Consultants in Chennai Kanakkupillai is one of the leading GST consultants in Chennai. Over a decade of experience in this field, we have filed GST for many leading companies and startups and they branded us the best GST consultants in Chennai. Contact us to file GST at a nominal cost. 

  8. Kanakkupillai Kanakkupillai experts determine your requirements and help choose the right Business Consultants. While you start a business kanakkupillai helps you with the relevant registration process and documents submissions at one GO. Kanakkupillai is the city's leading Business Consultants providing Hassle-free services with FREE Consulting.

  9. Contact Us CHENNAI OFFICE No 13/22 2nd floor,Yatra, TNGO Colony, West Karikalan street, Adambakkam, Chennai – 88 Phone: 7305 345 345 Email: support@kanakkupillai.com https://www.kanakkupillai.com/

  10. Thank you

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