We provide useful advice and a unique, integrated approach that can help you manage your indirect tax impact and achieve efficiencies.
GST can be the bane of everyone affected by it.
The complicated regime of regulations imposes a tremendous administrative burden on businesses.
Our advisory services on GST include:
Assessing the fiscal impact of GST on business and product pricing, through evaluation of key parameters.
Realignment for efficiencies
Advise on realigning the operations to ensure tax efficiency:
- Identifying alternate business models to ensure tax efficiencies and credit-optimisation;
- Evaluation of the alternate business models identified basis the tax costs involved;
- Identify potential risks and suggest suitable mitigating strategies, associated with the identified models; and
Implications under anti-profiteering
Advise on implications under the anti-profiteering provisions under the GST laws:
- Ascertaining 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 adopted considering the additional savings / burden and the legal provisions;
- Representing before the Regulatory authorities constituted for Anti-profiteering.
IT functional mapping
- Studying the existing IT System, basis blueprints and flowcharts shared with us, to provide the tax triggers and mapping for each of the business transactions;
- Configuring tax rates and updating master file basis the scheduled rates;
- Advise on the reports to be generated from the system for GST purposes;
- Advise on the structuring of invoices, credit notes, debit notes and other related documents;
In addition to providing a comprehensive bookkeeping and GST accounting service, we can also advise on and help with:
- The pros and cons of voluntary registration
- The timing of compulsory registration
- Extracting maximum benefit from the rules on de-registration
- Partial exemption
- Timing and delaying GST payments
- Flat rate GST schemes
- GST on imports and exports
Contact us today for a GST health check assessment and to see how we can relieve you of the burden.