GST

India has chosen one of the most ambitious form of GST. There will be a single common market with goods and services moving seamlessly in the entire country. GST will be a dual levy in India and the eligible transactions will be subject to levy of both the Central Tax and State Tax.

GST is a tax reform that is going to affect every commercial activity, including information technology, supply chains, logistics, working capital, etc. It is the single largest tax reform undertaken by the Government, which would help in unifying the numerous assorted Indirect taxes currently prevailing in our country.

LegalDesk.com introduces its new GST Package and a comprehensive GST Knowledge Center to familiarize our customers!

Advisory Services

1. Devising tax strategies by analysing the current pricing of goods and the savings under GST regime due to elimination embedded duties in the costing of products. Analysing the overall impact on the profit margin, cash flows and profit & loss accounts. Advisory services with respect effective transition of open transactions as on June 30, 2017. Devising strategies with respect to closing stock as on June 30, 2017. Analyzing the procurements, policies and providing inputs.
2. Understanding the business model on an Entity level and suggesting the changes needed in the business model to ensure we derive the benefit of GST.
3. Review of existing contracts with vendors and suppliers and suggesting suitable changes in the clauses of the agreement to be in line with the GST regime.
4. Suggesting changes in the ERP Software to equip the changes applicable to GST which includes changes from Purchase Orders to raising of invoices, debit notes and credit notes.

Implementation Services

1. Hand-holding pursuant to implementation on GST by providing support services such as filing of returns and handling litigation issues.
2. Complete review of IT system and suggesting suitable changes as required.
3. Setting up the accounting system/processes/documentation to be maintained to claim the inputs to claim the maximum benefits of inputs from current VAT/ Service Tax/ Entry Tax.
4. Rendering the workshop on need basis for the employees/ management.

Compliance Services

1. Preparation and Submission of GST Returns (Monthly and Annual).
2. Preparation, Maintenance, Review and Reconciliation of Tax Ledgers.
3. Handling Invoice Level Reconciliations.
4. Notifications and Alerts for important events and updates.