Goods and Service Tax (GST)

  • The Goods and Service Tax (GST) is one of the biggest tax reform in indirect taxation system which will integrate Excise duty, Service Tax, Value Added Tax, Central Sales Tax and lot of other indirect taxes which are existing at state level. GST is a broad based and a single comprehensive tax levied on goods and services consumed in an economy. This is levied at every stage of production - distribution chain till retail level with applicable offsets in respect of tax remitted at previous stage.
  • We are well equipped to provide consultancy on technical aspects of GST, along with end to end solution such as:

    • Restructuring of Business transactions :
      • Analysis of present procurement / distribution data considering tax and input credits
      • Preparation future estimated data which will arise in GST regime.
      • Comparison of above data to future estimated data which will arise in GST regime.
      • Decision with respect to following :
        • Intra State procurement Vs interstate procurement
        • Domestic supplies Vs import
        • Direct sale Vs stock transfers
        • In house Vs contract manufacturing
        • Own Vs outsourcing of services
        • Pricing strategies
        • Revisit of logistic locations like warehouses etc.
        • Revisit tax clause in all existing agreement with vendors, customer or otherwise and renegotiate the same.
    • Tax planning
    • IT Advisory services; it would contain:
      • Master record/ data customization
      • Transaction record customization such as pricing calculation etc.
      • Output customization such as invoicing, MIS reports, returns etc.
    • Technical and end user Training                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         We have also engaged by on-line knowledge sharing portal www.gstguru.com .
 
 
     
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