India has implemented Goods and Services Tax (GST) replacing a plethora of indirect taxes, with the promise of Good and Simple Tax.

GST is intended to remove inefficiencies in the supply chain due to breakage of credit chain and cascading effect of taxes. GST envisages a common national market for goods and services and removal of trade barriers. GST will have impact on supply chain, value addition and pricing of final products and services. Thus, businesses will have to adapt continuously, examine transactions, restructure operations, adopt supply chain optimization strategies, provide training to enterprise personnel, update book keeping practices and ensure changes in the IT infrastructure so as to maximize benefits from the new regime.

The indirect tax regime of central excise, service tax and VAT had its share of ambiguity, litigation on settled issues and credit blockages. GST law as it stands today may turn out to be the finest blend of the old law or an amalgam of its good and bad aspects. It does borrow provisions from the earlier statutes. GST law in its present form is not simple though it may be simpler. Being an evolving law, it may have to be interpreted, re-interpreted so that it is understood and implemented to achieve its objective of One Nation One Tax.

GST Services

  • Hand-holding through GST transition and routine return filling compliance
  • Advisory on registration, place of supply, valuation of composite and mixed supplies, works contract and other issues arising out of interpretation of CGST Act, respective SGST Act, IGST Act and Rules and Notifications
  • Availing and utilizing input tax credit, planning to avoid credit leakage
  • GST classification to ensure that goods and /or services are classified correctly as per theSchedules in the Tariff Notifications
  • Applying for and securing advance ruling
  • Providing detailed working on tax impact to recommending suggestions for taxoptimization
  • Changes in procurement and distribution arrangements, i.e., re-design of supply chain
  • Contract review from GST perspective
  • Evaluation of pricing from GST perspective to ensure compliance with anti-profiteering provisions.
  • Representational services before government authorities
  • Assist in filling of various other application and secure order like LUT.
  • Comprehensive health checkup to identify risks and opportunities
  • Assessing GST compliance and providing innovative solutions
  • Evaluation and advice on implementation framework
  • Devising strategies to optimize credits and other legally available benefits
  • GST training for in-house personnel and supply chain partners

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