Goods and Services Tax Workshop by: Indranil Das FCA

GST Workshop cum Training Lead Speaker: Indranil Das: Indranil Das qualified as a Chartered Accountant from the Institute of Chartered Accountants of India. A Commerce graduate from the St. Xavier’s College, Kolkata, he has worked with the CESC Ltd, the flagship company of the erstwhile RPG-Sanjiv Goenka group before embarking on practice. Over the course of his career, he has worked with a number of corporates houses as well as nationalized and private banks. He has over 9 years of post-qualification experience focusing primarily on direct and indirect tax advisory and internal audit. Assistant Speaker: Rishita Das is a qualified Company Secretary from the Institute of Company Secretaries of India. With her enthusiastic approach, she has gained exposure and working intricacies over a period of 4 years, with her key areas of attention being on taxation and legal advisory matters keeping pace with the latest regulator amendments and developments.

GST..Booting Given the passage of the Constitution (101st) Amendment Bill, 2016 for GST in the Parliament on 8 August 2016, ratification of the said Bill by more than 15 states by early September followed by its enactment, and passage of four GST Bills in the Lok Sabha on 29 March 2017 and Rajya Sabha on 6 April 2017, with the clear road map being laid down by the Finance Ministry, the Government of India seems to be on course to implementing GST with effect from 1 July 2017.

Training Module Contents- 1 day Presentation Concept of GST Structure of GST Registration Incidence of Tax- Meaning of Supply Factors to supply- Place of Supply, Time of Supply Valuations Input Tax Credit- Blocked credits Set off methodology Special transaction- Branch transfers, agency, import, export, job work (in brief) Invoicing Debit and credit notes GST Returns- return filing process, forms etc. Payment of tax Maintenance of records Conclusion

Training Module Contents- 2 day Program Incidence of Tax Meaning of Supply Supply of goods and services Course or furtherance of business Mixed supplies, composite supplies Factors to supply Place of Supply- Goods Place of Supply- Services Registered and unregistered persons Time of Supply- Goods Time of Supply- Services Case studies Q&A Concept of GST- Departure from present structure CGST, SGST, IGST laws GST Council Structure of GST GST Network Dual levy Registration (including Migration) Taxable person Introduction Important points Case studies Q&A

DAY 2 Special transactions Valuations Input Tax Credit Invoicing Branch transfers, Agency, Import, Export, Job work Invoicing Format of Invoice Invoice Rules Debit and credit notes Valuations Transaction Value Valuation Rules Important points Input Tax Credit Introduction Blocked credits Set off methodology Examples and illustrations (Interstate, Intrastate- Goods/ Services) Comparative analysis Q&A

DAY 2 (Continued) GST Returns Transitional provisions Payment of tax Return filing process, Forms Frequency, cut off dates Matching of ITC Reversal, Amendments Q&A Transitional provisions Carry forward of ITC First Return Provisions for goods returned Long term contracts etc. Payment of tax Maintenance of records Assessment under GST Brief insight into litigation aspects- Appeals, demand, recovery

Key imperatives for companies are: Post-implementation validation refinement of the operating model selected Identify issues and concerns requiring representation to authorities and develop a strategy for effective advocacy Identify any areas of adverse impact and prepare contingency measures Continually track policy development regarding GST and update prepared scenarios Draw up an implementation plan Prepare different scenarios for the design and application of GST Understand key areas of impact in their business

Role of Professionals Tracking GST development Review of draft legislation and impact analysis Industry Consultation for improvement in business process Review of final legislation and impact analysis Implementation assistance Post implementation support Tax Planning Record Keeping Departmental Audit

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