Implementation of GST is considered to be the most important reform in Independent India as it completely changes the indirect tax landscape In the country. A change of this magnitude brings in its own challenges and a business is required to gear itself up to take the advantage of this change while meeting the challenges it presents.
In order to address this significant discontinuity in Indirect Tax regime, we can assist businesses in computing the incremental tax impact on the existing supply chain, further dividing it in creditable and non creditable taxes, recoverable taxes and costs to the bottom line.
We, thereafter, suggest various alternative supply chain models in order to mitigate the adverse tax impact and at the same time to take benefit of planning opportunities that may emerge as a result of the new regime. Further, no change of this magnitude can be effectively managed without engaging the concerned employees of the businesses located at various branches/ locations spread across the country. This can be achieved by conducting extensive training sessions as well as by providing detailed compliance manuals containing practical action points for meeting day to day compliance requirements.