GST
GST is destination based consumption tax, i.e., tax on inter-state supply to accrue to destination state. It is 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. It has Four tier tax rate and creditable compensation cess. It is based on Single taxable event, i.e., supply
What We Do
Impact Analysis
- Mapping current business model vis-a-vis model under GST regime
- Analyzing 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