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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.
- Review credits availed and utilized including distribution as Input Service Distributor.
- Computation of eligible CGST, SGST and IGST credit for claiming refund/set-off against output liability.
- Review the basis of preparation and filing of periodic GST returns and providing comments.
- Review and advise on the reconciliation of transactions for the first three tax periods after implementation of GST covering outward supplies, inward supplies & input tax credit availment.
- 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 the impact of place of supply provisions for services for outward supplies and inward supplies and advise on amendments in procurement of goods/services or invoicing for goods/services.
- Advice on credit availment, including distribution as Input Service Distributor, based on the business model as per the impact assessment study.
- Advice on tax implications of concessions/exemptions presently availed by the company.
- Advice on the requirement of carry forward of credit on the cut-off date.
- Review of specimen vendor and customer contracts and provide inputs on the tax clauses.
- Review the impact on processes pertaining to procurement, outward supply of services from initiation to recording and suggest changes, purely from a GST perspective.
- Advice on documentation i.e. invoice, debit/credit notes, and other reports, if any.
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