GST Advisory

Assessing the financial Impact of GST on business and product pricing, through analysis of parameters including:

-Change in tax rates.

-Change in Time and Place of supply rules for goods or services or both.

-Evaluating impact on external supplies including goods and services.

-Analysing impact on procurement of inputs /input services.

-Assessment Mechanism under GST, including prevalence on free from costs supplies, stock transfers, reductions, incidental supplies to associated parties.

-Analysing position on availability of input tax credits - charge constraints or additional tax credits on procurements of services and goods.

-Basis the above parameters, assessing the Impact of GST on company operations, merchandise and working capital.

Advise on realigning the operations to ensure tax efficiency:

-Identifying alternative business models to ensure tax efficiencies and charge optimisation.

-In evaluating the alternative business models have identified the basis of tax costs entailed.

-Identify possible dangers and suggest suitable mitigation strategies associated with the identified models.

-Establish the company model / contractual situations after discussions with the Direction that may be taken up for implementation.

Advise on consequences under the anti-profiteering provisions under the GST legislation:

-Ascertaining the impact of GST on the costs of merchandise and services in view of additional tax costs / credits.

-Advising on the appropriate pricing mechanism to be adopted considering the extra savings / weight loss and the legal provisions. 

-Advising the safeguards that are appropriate to be adopted.

-Representing before the Regulatory authorities constituted for Anti-profiteering.

Steps for GST Transition:

-Implementation of changes in business process like establishing processes for billings, devising a system for receiving advances / payments.

-Guidance on the eligibility of specific credits which might be offered under GST regime.

-Assessing and updating the eligibility and transferability of present Input tax credits.

-Assistance in preparation and uploading of statutory Types for Transition of credits. Guidance in relation to the way of recovering tax from customers.

-Highlighting areas for negotiation, with sellers / clients, pertaining to the contractual arrangements. 

-Assistance in obtaining GST registration or migrating existing registrations.

-Preparation and updating of compliance / SOPs.

IT Functional Advisory:

-Studying the present IT System, foundation blueprints and flowcharts shared with us, to supply the tax causes and mapping for all the business transactions.

-Evolve logics foundation the changes introduced in the law involving those for transition of credits.

-Configuring tax prices and updating master file basis the scheduled rates. Advise on the accounts to be created from the system for GST purposes.

-Advise on the structuring of invoices, credit notes, debit notes along with other associated documents.
-Final testing of the IT systems and supply a compliance report.

Customised GST Trainings:

Customised inner trainings for organisational demands for finance, taxation, legal, business, sales and advertising departments. Trainings for sellers, suppliers and customers.