gst implementation slide deck
TRANSCRIPT
Implementation
Guide
GST - SnapShot
GLARING BUT MOST MISSED OUT DIFFERENCE BETWEEN GST AND EARLIER LAWS
• Tax benefits were for the producing states
• Earlier Laws were administered by
People with the System.
• Earlier Law was complied by the Businesses and Assessed by the Government.
• Returns were a Communication of Assessees to the Government.
• Tax Benefit is for the Consuming States•
GST Law would be administered by the system with the people.
• GST Law will be Assessed by the Businesses. Monitored by the Government.
•Returns shall be for Communication between the Recipient and Suppliers through the Government
Typical GST Implementation Challenges?
Place of Provision of Services?- Which tax type to be charged?
Claiming of Input Tax Credit?- Whether the credit flow mechanism be developed to avoid double tax in the
business model?
Domain ChallengesApplicability?
- Where all GST Registration is required?- On transfer of material for free supply?
- On Job work?
By 10th By 11th
By 15thBy 17th
GSTN – GST Network Developed by Wipro , Infosys
GSP – GST Suvidha providers – means approved service providers will provide services to tax payers as below - Through ASP – Applications Service Providers in Assesses Area
Tax Returns Preparer (TRP)
Who shall do the upload on behlaf of the Tax
payers.
ASPApplication Service
Providers
Portals will provideReturns Like
GSTR1 AGSTR2 A
GSP
GST Suvidha Providers
(GST )Servers
GST NServer
Tax PayersGoods
Prepare & Load GSTR1 – outward Invoices & GSTR2 – inward Invoices From GSTR2A auto populated in GST Net work.GSTR1A - Amend outward invoices
Tax Payers
Services
Systems ChallengeParameterizing
- GSTIN of vendors, HSN codes, SAC Codes, State code, etc.
Summarizing- Timely and Integrated system for generating the detailed reports as required by the GSTN portal.
Filing- Timely staging of data
- Monitoring the issues and advice on data sanctity- Advice on Mismatch Reports from the GSTN portal
- Reconciliation and Audit trail maintenance
Process Development- Invoicing; Credit availment
- For Branch Transfer; Job work
How can APMH Help?
Impact Analysis
• “As is” Study• Optimization
Scenario• Government
Representation
Implementation
• Registrations• Policy and SOPs• Training People and
Vendors• System Integration
support
Post Implementa
tion Support
• First 3 Monthly Returns
• Review Errors and Mismatch
• Day to day queries
Broad Scope
GST TeamEngagement
Leadership
Project TeamUnderstand, IT
support and Project Management
Technical TeamDomain
support
Compliance Team
Registration and Filing Support
Technical Partners
High level Technical Leadership
Domain expertise
Project Management
Expertise
Understanding of IT and relevant Tieups
Full fledged Legal
Representation Team
Dedicated Compliance and Returns Filing Team
Thoughtful and Experienced Ecosystem
Tax Firm Since 1985
GST Empowerment InitiativesGST – SnapShot
Top Managem
ent
Stake Holders
GST Mitra – An Implementation Guide and Recorded over view Videos
Mid Managem
ent
Steering Committe
e
GST – Mitra in Marathi
Vendor EducationJunior Accountant, Finance and Supply
Chain Team
For Enterprise For SMEs
Software TieUps
**We shall be happy to work with ”your” software vendors in case mutually agreed
Key Team Members
CA Mitesh KatiraGST IT
implementation Expert
CA Pranav KapadiaVAT and
Service Tax Expert
CA Atul Mehta
Service Tax Expert
Sunil Agnihotri
Senior Excise [email protected]
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