GST - Post Implementation Issues

GST the game changer: GST will be a game changing reform for Indian economy by developing a common Indian market and reducing the cascading effect of tax on the cost of goods and services. It will impact the Tax Structure, Tax Incidence, Tax Computation, Tax Payment, Compliance, Credit Utilization and Reporting leading to a complete overhaul of the current indirect tax system.

Course Content :

Session 1: GST Law & Important Provisions

1. Key Changes in Definitions, Tax Liability Provisions, Place of Supply Rules, Time of Supply
2. Valuations, Compliance Processes – Registration,Returns, Payments and Refunds
3. Assessments & Audits
4. Transitional Provisions
5. Taxation of Specific transactions like Works Contract, Job Works, Inter unit Transfers etc.
6. GST Tax Invoice & Its Importance
7. Input tax credit under GST

• Eligibility & Conditions for taking ITC
• Block Credit
• Availability of Credit in Special Cases
• ITC for Job Work
• ITC Distribution by Input Service Distributor (ISD)

8. Question – Answers

Session 2: GST Compliance (Registration , Returns , Payments &  Refunds )

1. GST Registration Process
2. GST Return Process
3. GST Payment Process
4. GST Refund Process

• Refund of Tax
• Refund in Certain Cases
• Interest on Delayed Refunds
• Utilization of Fund

5. Question – Answers

Session 3: Implementation of GST System in a Company

1. Key Areas of GST
2. Key Business Areas – Sourcing – SCM, Savings on Costs , Marketing , Logistics , Pricing
3. IT Infrastructure for GST Compliance and GST Credits
4. GST Education / Training to Inside & External Personnel (Vendors&Dealers)
5. GST Internal Department
6. State wise GST Compliance – Manpower,Training, Accounting and Record Maintenance
7. Implementation of GST
8. Question – Answers

Session 4 – POST GST IMPLEMENTATION ISSUES

1. Legal Interpretational issues
2. Procedural Compliance issues
3. Issues relating to Transitional Provisions
4. Tax Administration related issues
5. Impact of GST on trade & industry