It would be live & interactive online session with Industry expert Instructor.
GST is a consumption tax based on the value-added concept. GST is imposed on goods and services at every production and distribution stage in the supply chain including importation of goods and services.
GST is an indirect tax that may affect all inputs and outputs of a business organisation and this tax will replace the existing sales and services tax regime.
To ensure you are GST ready, a coordinated effort within the business organisation is essential. It is just not another tax issue to be left only with the Finance and Accounts Department. Rather, it is a “crossfunctional” issue that can affect the entire business structure and hence require input from all key business units.
- Understand the key elements of GST and its mechanism.
- Analyse and understand the implications of GST on your business.
- Identity and review business activities in line with GST.
- How to effectively overcome implementation, compliance and enforcement issues.
- Treatment of transitional issues upon implementation of GST.
- Background on GST: Recent updates, taxes to be subsumed, exceptions
- Important definitions: Supply, Capital goods, Composite Supply, Mixed Supply
- Registration under GST
- Charging the correct taxes: CGST + SGST Vs IGST
- Place of Supply for Goods and Services
- GST impact on typical sales and purchase transactions undertaken by companies
- GST impact on specific transactions such as branch transfers, intercompany supplies, Bill to Ship To sales, etc
- Payment of Taxes: Time of Supply
- Valuation under GST
- Availability of Input Tax credits and matching concept
- Impact on GST on typical supply chains
- Impact of GST on pricing of goods
- GST Compliance: Returns, Invoicing, Refunds
- Transition to GST: Import provisions