GST Advisory

Goods and Services Tax (GST) is a tax reform of modern-day in India, and has come into effect from 1st July 2017. GST has modified the panorama of tax compliance significantly, and requires customized technology to assist for secure, smarter and faster reporting of transactions. It has a significant influence over planning for Tax Structure & Incidence, Compliances, and Credit Mechanism. It led to an entire overhaul of erstwhile Indirect Tax System.

Key Areas of GST Advisory Services

  • Examining the fiscal impact of GST on business and price of the product by evaluating key parameters like change in tax rate or time and place of supply of goods and services.
  • Evaluating the impact of outward supplies and analyzing the impact on procurement of inputs and services. 
  • The complex framework of the act requires detail and a good understanding of each aspect which a registered business can get through the knowledgeable advice given by the experts.
  • Advisory services that are mainly related to the guidance given to the clients on their queries raised due to the complex and rapidly changing GST Law.
  • Advise on the effects of the anti-profiteering provisions under the GST laws.
  • Establishing the impact of GST on the prices of products and services in view of additional tax costs/credits.
  • Advising on the appropriate pricing mechanism to be agreed upon considering the additional savings/burden and the legal provisions.
  • Advising the appropriate safeguards to be adopted.
  • Representing before the Regulatory authorities constituted for Anti-profiteering.

Broad Impact Assessment

  • Create particular “concept level” impact areas
  • Convert impact areas into areas of opportunities
  • Work with organization’s policymakers to minimize the impact areas
  • Figure out the ways in which opportunities could be improved