Our vast experience in the field of process advisory, coupled with our keen insight of business principles enables us to identify the problems faced by the organizations and provide feasible solutions that cater to the specific need of our clients. We offer following services:-
What is GST?
Destination based consumption tax, i.e., tax on inter-state supply to accrue to destination state
Dual GST model – CGST to be central tax and SGST to be state tax IGST on inter-state transaction, to be shared between centre and states
Single taxable event, i.e., supply
Four tier tax rate and creditable compensation cess
Matching concept introduced for admissibility of credit
GST: Boon or Bane?
Increased rate of tax on services
Credit of state tax available to service sector
Credit of services available to traders
Extensive compliance procedures
Reduced multiplicity of taxes
Anti-profiteering measure
Warehousing to be business call instead of tax call
Identification of inter-state or intra-state supply for each transaction
FOC transactions with related party to be taxable
Extensive technology refresh warranted to develop GST-compliant system
How can we help?
Impact Analysis
Mapping current business model vis-a-vis model under GST regime
Analysing key tax impacts on transactions undertaken
Evaluation of agreements
Examining eligibility of tax credits into GST regime
Simulating I/O cost structure
Identifying issues and developing mitigation plans
Implementation Planning
Assistance in aligning tax reports, invoices
Providing insights on factors for vendor negotiation
Advice on transitional issues
Preparing GST-compliance calendar
Conducting training sessions
Assisting IT-team to make GST compliant IT-system
Verification of tax calculation in system after IT implementation
Assisting in aligning the existing RCMs
Helping to identify internal checks for reducing errors
Revalidating impact analysis on the basis of final GST law
Post Implementation Support
Checking eligibility and effective utilization of credit
Periodical review of monthly I/O data & returns
On call routine advisory
Suggesting changes to bring efficiency
Updating the organization with relevant legal changes
Support with ASP/GS
GST Audit
GST Representation Services
GST Training/ Workshops
Tailormade trainings and workshops for employees and vendors
Sector specific training sessions from industry experts
