Goods and Services Tax (GST) Consulting
Goods and Services Tax has been implemented effective July 01, 2017. This is the most significant indirect tax reform in the history of independent India. This reform is based on the principle of One Nation One Market. It subsumes majority of Central and State Taxes levied in the earlier regime.
GST is a destination or consumption based tax. It is a dual tax with both Centre and State levying tax on a common base.It shall lead to lowering of taxes by elimination of multiplicity of taxes and there cascading effect and thus help putting India on a high growth trajectory.
Each business shall need to do a detailed assessment to review its impact on their business. In most cases it would require a shift in the way the business was being conducted in the earlier regime in order to mitigate any adverse strategic and financial impact on the business.
Our team of qualified and experienced professionals can assist you in a smooth and seamless transition of your business into the new tax regime. Our areas of service include:
- GST – Impact Assessment & Analysis study
- Changes required in the Business Process / IT Systems
- Changes required in Product / Service Pricing
- Changes required to be made in Contracts / Agreements
- GST Registration
- Vendor Master Updation with GSTN / Invoice Generation
- Filing of Returns / Filing of Forms for transfer of opening Input Tax Credit / Tax Payment & Set Off
- Post Filing Reconciliations / Entries in Books of Accounts / Helpdesk for handling queries
- Reporting / MIS / Compliance Tracking