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- Review GST compliance under the GST regime for the states where the company has its operations. This would inter alia include:
- Review computation of tax payable including credits
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Review credits availed and utilized including distribution as input service distributor
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Computation of eligible CGST, SGST and IGST credit for claiming refund/set-off against output liability
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Review the basis of preparation and filing of periodic GST returns and providing comments
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Review and advise on the reconciliation of transactions for first three tax periods after implementation of GST covering outward supplies, inward supplies & Input tax credit availment
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Assistance in filing the monthly tax returns for the first three tax periods for all the states where the company has its operations
- Providing inputs to the Company on the formats, registers, MIS requirements etc., purely from a GST perspective
- Advice on compliance requirements i.e. obtaining/amending registrations, declarations, tax computation, credit availment and distribution, monthly and annual returns
- Examine impact of place of supply provisions for services for outward supplies and inward supplies and advice on the amendment in procurement of goods/services or invoicing for goods/services
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Advice on credit availment, including distribution as input service distributor, based on business model as per the impact assessment study
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Advice on tax implication on concessions/exemptions presently availed by the company
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Advice on requirement of carry forward of credit on the cut-off date
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Review of specimen vendor and customer contracts and provide inputs on the tax clauses
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Review impact on processes pertaining to procurement, outward supply of services from initiation to recording and suggest the changes, purely from a GST perspective
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Advice on documentation i.e. invoice, debit/credit notes, other reports, if any
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