GST - Post Migration Masterclass (Bangalore)

GST is applicable in India from 1st July 2017. Post Migration there are a lot of key areas of concern like Immediate Compliance requirements, Input Tax Credit Mechansim, Payment of Taxes, Maintenance of Accounts, Invoicing. There are key very large areas of concern for the industry like Anti Profiteering Mechanism and the newly introduced E Way Bill where there`s a lot of information still under the wraps. Post Migration there are expectations on clarity on some of these issues from the government.

In order to address those key areas of concern, CorpKonnect is organizing a Full Day Methodical Masterclass on GST - Post Migration Issues and Key Focus Areas of compliance.


Objectives of the Masterclass:

  • Understand the basic mechanism of GST
  • Better preparedness to comply with immediate compliance requirements
  • To build practical knowledge and analysis of GST obligations
  • Understanding the Key areas of Input Tax Credit for business benefits
  • Smoothening your transition to GST from the existing system


Who should Attend

  • CFOs, Director Finance and other Senior Finance Professionals
  • Tax Heads and Senior Tax Professionals
  • Indirect Tax professionals such as VP, AVP, Sr. Managers and Managers
  • Tax Lawyers
  • Practising Chartered Accountants
  • Supply Chain Professionals, Legal Professionals and all those stake holders who get affected by GST

Session 1: Concept of Indian GST

  • Concept of `Supply`
  • Supply without Consideration
  • Time of Supply
  • Place of Supply

GST Latest Developments

GST – Key Impact Areas on Business Functions


Session 3: Input Tax Credit

  • Taking input tax credit
  • Taking input tax credit in respect of inputs sent for job work
  • Distribution of credit by Input Service Distributor
  • Recovery of credit distributed in excess
  • Transfer of input tax credit


Anti-Profiteering – Industry Issues

Composition Levy, E Way Bill and Other Issues

Other key concern areas post Migration

 

Session 3: GST Compliance – Deadlines and Processes

GST Return Filing Process & Due Dates:

  • Filing GSTR-1
  • Filing GSTR-2
  • Filing other forms
  • Invoice Matching
  • Late Fees for delay in filing GST Returns


Payment of Taxes – Rules and Process

  • Main features of GST payment process
  • Payment Options
  • All other intricacies related to Payment of GST
     

Reverse Charge Mechanism and Related Developments

GST – Accounts Maintenance and other Key Areas

  • Classification of Goods and services
  • Maintenance of Accounts
  • Tax Invoice, Bill/Cash Memo
  • Debit Note/ Credit Note


Session 4:
Key Compliance Issues still left in the bucket Post Migration 

  • Input/ Input services in transit
  • Last Returns before GST Returns
  • Input on Tax Paid Stock
  • Sales Return
  • Price revision of existing contracts
N V Raman
Partner
BDO India LLP

Raman completed Masters in Law from National University of Singapore, holds a Bachelor’s degree in Law from Bangalore University and a Graduate degree in Economics from University of Madras.

His experience includes all facets of Central Excise, Service Tax, Customs and VAT including implications of cross border tax. He has hands-on experience in availing exemption emerging out of Treaty arrangements with other countries.

Raman expertise in Special Economic Zones & Technology Parks/Export Oriented Undertakings related matters right from Advisory to implementation of setting-up.

Raman has also handled various areas of work related to sectors such as Telecom, Energy, Pharmaceuticals, Entertainment, supply chain logistics, Manufacturing and Services by providing innovative but rigorous tax planning ideas


Ashok Kumar
Partner
Manohar Chowdhry & Associates

Ashok Kumar is Practicing Chartered Accountant specializing in the field of auditing and indirect taxation. He has carried out statutory audit of companies listed in the Bombay Stock Exchange, IT, mining and construction companies. He has performed internal audit of MNC companies (Hospitality, Software, construction, logistics companies).

He has represented PSU, Banks and other clients before various authorities (Income tax department, ITAT, CESTAT, Sales Tax Appellate tribunals, STPI, Ministry of Home Affairs, RBI, Service Tax and Commercial taxes Department).

He has presented papers on Accounting standards, KVAT, GST, RERA in various forums across Karnataka. 


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