Need Of GST
Multiple taxes lead to double taxation & cascading effect
Structure involving multiple taxes / rates not in sync with global practices
High cost of tax compliance and double taxation leads to higher prices of goods & services
Lack of uniformity in provisions of different law and interpretations
High cost of tax collection leads to lower tax yield to the Government
Features Of GST
Origin based tax to destination based tax
All stages of value chain – Primary/Secondary /Tertiary including retail
Taxable event is ‘supply’
Centre GST & State GST to operate concurrently
CGST & SGST on intra state supplies in India
IGST on inter state supplies in India.
Exports – zero rated
Imports – [BCD + IGST]
Our Offerings
Impact Assessment on Business Process, Taxation, Cash Flow, Working Capital & Transitional provisions
Impact Assessment on ERP/Accounting systems & Recommendation
Transition Support to adopt the new tax regime
Support on review and filing of returns GSTR & Compliance
Support in selection of GSP & ASP tools for uploading the transactions to GSTN portal