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    Brief discussion who is SME contractor?

    Small & medium contractors are employed by various construction departments or corporations of State or central government. For example contractors engaged in building roads through Bihar State Road Development Corporation or through Road Construction Department, Government of Bihar. Similarly if any contractor is engaged in construction of bridges, the same shall be engaged by Bihar Rajya Pul Nirman Nigam Limited. The above example relates to the state of Bihar, similarly the contractors can be engaged in various states through various state/central PSUs. Central government PSUs include Railways, CPWD, NHAI etc.

    SME Contractors
    can be classified into 3 sub categories as below

    Very Small Contractor

    Having turnover of upto 5 Crores, usually working for Rural Works department for construction of village roads in PMGSY schemes, small buildings or other small infrastructure projects. Usually the contractor is a sole proprietor who is engaged in all the activities himself, i.e. right from taking work to execution of work.

    Small Contractor

    Having turnover of upto 25 Crores, usually engaged in construction of roads or bridges, canals, buildings and other medium size infrastructure. The contractor can be a proprietor firm or Partnership/Corporate firm. The firm is usually dependent on any third party for all the book keeping and compliances.

    Medium Contractor

    Having turnover of upto 100 crores, usually engaged in construction of Highways, Flyovers, Large buildings and other large infrastructure. This type of contractor engages a person for every specified set of tasks and usually hires a full time accountant to keep track of expenses and receipts of payment.

    How we can help?

    GST Suvidha is a pioneer GST Consultancy Service provider in the field of Works contracts. We have an in-depth knowledge of law and skilled manpower to look after every compliances. Our team and infrastructure helps our clients to achieve independence from botheration of compliance. With us everything is in right place and on time. We offer specific services to the contractors which helps in achieving the desired goals.
    • We collect invoices/receipt vouchers through email/whatsapp on a daily basis and compile the same in a file.
    • We share monthly receipts & payments statements along with profit & loss statement with updated bank statement and stock if any.
    • We reconcile the GST paid on purchases of materials/services and track the same in GSTR-2A, in case of mismatch, we contact the respective vendor for correction.
    • We look after all the requirements of law and comply with the same.
    • At the end of the year, we prepare final accounts of the entity and get it audited through partner firms. The last step will be to file the income tax return of proprietor.
    • We provide consultancy with respect to management of tax liabilities which can help in advance planning of working capital requirements.
    • At any given point of time, we are available to answer any queries or to find out any information from the accounts maintained.
    • We file income tax TDS returns, PF and other statutory returns on time as per the requirements.
    • We provide mentorship to the accountant of firm and impart training for proper work.
    • We review the work of accountant periodically and guides for rectification of any mistakes noticed during the review process.
    • We provide legal help in case of any notices received from any statutory authority.
    • At the end of the year, we prepare final accounts of the entity and get it audited through partner firms. The last step will be to file the income tax return of partners & firm.

    Services Provided by us

    GST Impact Assessment

    On account of Roll-out of GST, many Contracts that were entered in Pre-GST Regime or were awarded in previous SOR in year 2018/2019, has been impacted due to change in taxation structure. We help Contractors to claim their excess cost which is incurred on account of GST.

    GST Return Filling

    GST Returns are most complex in Infrastructure & Construction segment, we are pioneers in this arena as we have helped many small & medium size contractors in meeting their compliance and filling returns.

    GST Consultancy

    We provide consultancy to contractors on GST law related to construction sector and further suggest them with tax planning and saving costs.

    GST Audit

    We perform GST Audit for those contractor, where GST law has mandated audit.

    Maintenance of Books of Accounts

    We help in maintaining the books of accounts in compliance with laws and regulations. Further this also helps contractors to ascertain their profits or losses project wise.

    Why US?

    • The best in class service provider and guaranteed assurance of quality services.
    • Experienced team members & optimum infrastructure to provide hassle free services.
    • A proper organized and systematic way of working where everything is being done under Standard Operating Procedures.(SOP)
    • Not like other service providers who either offer only software or traditional way of providing service, we use combination of technology along with matching manpower.
    • One assigned service representative for every work related query.
    • On time availability of Staff and upto date information with respect to all services.
    • Trusted by hundreds of SME contractors across India.

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