2nd GST Implementation Masterclass (Bangalore)
GST in India is a reality now. Many trade pundits are predicting its arrival in the Indian Business Geography from April 2017. The Rajya Sabha unanimously passed the 122nd Constitutional Amendments Bill on 3rd Aug 2016. Earlier, the finance ministry has already unveiled the Model GST Law after the approval of the empowered committee and also released a FAQs for business processes for returns and registrations. GST (Goods & Service Tax) is going to subsume most of the Indirect Taxes of our country such as Excise & Customs, Service Tax, VAT & CST, Entry Tax, etc and would bring in significant amount of change in way of doing business.
The Draft GST Law is a model, which the Central Government and each of the State Governments would use to draft their respective Central and State GST Acts. Further, a Draft of the Integrated GST (IGST) Act, 2016, which will govern levy of GST on inter-State supplies by the Central Government, is also issued. The Draft Model GST Law provides an insight on the governing provisions regarding levy and collection of GST, which consists of 162 clauses divided into 25 Chapters along with 4 schedules and Rules as to Valuation under GST. Further, the Draft Integrated (IGST) GST Act, 2016 is also issued, which consists of 33 clauses divided into 11 Chapters.
Gearing up for changes in process, training of personal and redesigning the IT systems for being GST compliant is the need of the hour. GST implementation in India will require a great level of coordination from all corners of business. It will also require a lot of change in the supply chain management, costing analysis, invoicing methodology as well as your accounting software & documentation. It is a “cross functional” issue that can affect the entire business structure and hence require input from all key business units. So in order to adapt to the changing scenario we need to prepare well in advance.
To address this larger need of the hour, CorpKonnect is organizing a full day GST Implementation Masterclass which would throw valuable insights on what changes you need to do in your existing system and processes to comply with GST and what would be it’s impact on your business. Also we shall do in in-depth analysis of the Model GST Law to understand its intricacies.
Benefits of Attending:
- Core analysis of the Model GST Law to understand its various intricacies
- Understand the basic mechanism of GST
- Understanding the technology infrastructure required in GST implementation
- Better preparedness for implementation to minimize risk
- 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
Technical Session 1: Introduction to GST
- The GST model in India
- Meaning of Goods and Services
- Meaning and scope of supply
- Point of Taxation
- Times of Supply Rules
Technical Session 2: 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
Levy of Tax and Exemptions
Refund and Returns
Technical Session 3: IGST Model for Inter State Supply
The Integrated Goods And Services Tax Act, 2016
- Principles of Determination of place supply in Inter State Supply
- Levy and collection of IGST
- Place of supply of goods
- Place of supply of services
Payment of tax, interest, penalty and other amounts
Technical Session 4: Migration to GST - Are you Ready?
- What is going to change for you?
- Changes required in the entire value chain
- Major impact on your F&A, Legal, HR and other functions
- Changes in the entire Supply-chain management
- Change in IT systems
- Pricing, Costing, Margins
- Formation of Steering Committees
Keyur Shah is a Director in the indirect tax practice of PwC India. He is a qualified chartered accountant and has working experience of close to 11 years spanning across various areas of the indirect tax laws in India.
He has extensively been involved in advising clients on indirect taxes (ie customs, duty, excise duty, service tax and VAT/CST). The key areas advised by Keyur include the Indirect tax health check review and due diligence reviews, Advisory services (including implementation of advanced tax planning options), Business models and transaction structuring, etc. Specific to the proposed “Goods and service tax” his experience includes advice on issues under GST, GST impact study, etc.
He is an active speaker at various forums and has made several presentations before participants from industry on topics such as “Goods and Service Tax and its impact on industry”, “Issues under the Model GST law” among others. He has also written articles in newspapers on various topical issues in indirect tax.
KPMG in India
Praveen has over 18 years of experience in Industry and around 11+ years in the field of Indirect Tax Consulting. He has been assisting variety of Clients on Indirect Tax advisory and compliance related matters, including structuring of business processes in areas of Service Tax, Value Added Tax, among other Indirect Taxes. He has 18 years of experience in handling Indirect Tax matters for a multinational manufacturing company in India (Kirloskar Copeland Ltd). He has an extensive experience in Indirect Tax Consulting on Compliance & Advisory matters of MNC’s from various industry segments.
He has assisted Clients in conducting Cost Benefit Analysis to decide the type of Unit, setting up of the Units, streamlining their internal processes and ongoing Compliances. Before joining KPMG in April 2011, he had been with the other Big 4 Firm from April 2005 to March 2011.
He has Extensive experience in formulating strategies and plans for optimizing tax benefits through effective structuring of the Supply Chain, handling & ensuring timely compliances and adherence to procedural requirements of Indirect Tax laws of 20 odd States across India.
He has been actively involved in making presentations to various Clients and at Forums. He has led and completed Impact Assessment assignments across Industry sectors. He has written articles on various i mpact areas of GST and has spoken at Seminars conducted by various leading Chambers of Commerce and Industry Sectors.
Lakshmikumaran & Sridharan
Mr. P M Prabhakaran, and Advocate by profession, is an experienced Tax practitioner with an overall experience of over 26 years in the Auditing, Accounting & Legal Fields. He specializes in the areas of Service Tax and Value Added Tax and now practicing and working closely with the developments in the area of GST.
Before entering into private practice, Prabhakaran has served for 16 years in various positions in the Revenue Audit wing of the Indian Audit & Accounts Department and also worked as Deputy Director in Employees Sate Insurance Corporation for a small stint.
He is now working as a Partner and the Leader of the Consulting Team at the Bangalore office of Lakshmi Kumaran & Sridharan. He has hands on experience in advise and providing tax compliance support under Indirect Tax laws to large MNCs, Indian Conglomerates, PSUs, Banking & financial Institutions etc.
93, Richmond Road, Langford Gardens, Bengaluru
080 - 43484348
Registration Fees: The investment for this full day training program is INR 8,500 + 15% Service Tax per delegate
Early Bird Discount: 10% early bird discount on 2 or more registrations till 14th Oct.
For registrations, please contact:
Mob: +91- 8130826342