Goods and Services Tax
The Goods and Service Tax (GST) has been a biggest game changing reform in India's Indirect Tax Structure which has rightly attracted the heightened interest from all the stakeholders. From July 1, 2017 onwards, GST will replace India’s current complex Central and State indirect tax structure to create a common market with a seamless indirect tax regime.
Goods and Service Tax is one indirect tax for the whole nation on the supply of goods and services, right from the manufacturer to the consumer. As GST will affect every part of the business of industry from Cash Flows, Financial Reporting, Tax Accounting & reporting, profitability, pricing, supply chain, ERP, contracts redesigning, IT, marketing etc.
Therefore, one of the biggest challenge for the industry would be the requirement of right guidance which can help them sail through GST transition and guide them about its impact and implications.
We hold expertise in the following areas and help our clients doing business in India by making them GST ready
· GST Impact Analysis & Treatment
· Supply chain Impact Assessment
· Planning GST Transition
· GST Implementation
· Accounting & Reporting
· Training Managers & Staff
· Technology Updates & Support
· GST Compliance Framework & Standard Operating Procedures
· Post Transition Review
· GST Outsourcing
· Knowledge updates and support in various domains of GST like Interstate Taxable Supply, Exemption and Exclusion, Meaning of Supply, Place of Supply of Goods and Services, Time of Supply