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  • Advisory Support

Advisory Support

Our advisory services under GST include:

  • Assessing the impact of GST on business and product pricing, through evaluation of key parameters including:
    • Change in tax rates
    • Change in time and place of supply rules for goods or services or both
    • Evaluating impact on outward supplies
    • Analysing impact on procurement of inputs/input services
    • Valuation mechanism under GST, including incidence on free of costs supplies, stock transfers, discounts, incidental supplies and supplies to related parties
    • Analysing position on availability of input tax credits – credit restrictions or additional tax credits on procurements of goods and services
    • Basis the above parameters, assessing the impact of GST on a company’s operations, select products and working capital
  • Advise on realigning the operations to ensure tax efficiency:
    • Identifying alternate business models to ensure tax efficiencies and credit-optimisation
    • Evaluation of alternate business models basis the tax costs involved
    • Identifying potential risks and suggesting suitable mitigating strategies, associated with the identified models
    • Defining the business model/contract scenarios after discussions with the management that could be taken up for implementation
  • Advise on implications under the anti-profiteering provisions under the GST laws:
    • Evaluating the impact of GST on the prices of products and services in view of additional tax costs/credits
    • Advising appropriate pricing mechanism to be adopted considering the additional savings/burden
    • Advising on appropriate safeguards to be adopted
    • Representations before the Regulatory authorities constituted for anti-profiteering.
  • Ensuring steps for smooth GST Implementation:
    • Implementation of changes in business processes such as establishing processes for billings, system to be followed for receiving advances / payments
    • Guidance on eligibility of specific credits that could be available under GST regime
    • Evaluating and update eligibility and transferability of existing Input Tax Credits
    • Assistance in preparation and uploading of statutory Forms for Transition of credits
    • Guidance in relation to the manner of recovering tax from the customers
    • Reviewing of contracts and highlighting key areas for negotiation, with vendors/customers 
    • Assistance in obtaining GST registrations
    • Preparation and updation of compliance manuals / SOPs
  • IT Functional Advisory
    • Studying the existing IT System to provide the tax triggers and mapping for each of the business transactions
    • Evolve logics basis the changes introduced in law including those for transition of credits
    • Configuring tax rates and updating master file basis the tax schedules
    • Advising on the reports to be generated from the system for GST purposes
    • Advising on the template of invoices, credit notes, debit notes and other related documents
    • Conducting a UAT Test of the GST module of the IT systems
    • Final testing of the IT systems and providing a compliance report
  • Customised GST Trainings
    • Customised internal trainings for organisational requirements for Finance, Taxation, Legal, Commercial, Sales and Marketing departments; and,
    • Trainings for vendors, suppliers, and customers.

For information regarding our Customs and International Trade related service offerings, please click here 

For information regarding our Technology offerings, please click here