GST Advisory

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:

Impact Analysis
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.