Transitioning to GST

2016 All rights reserved

Roadmap to GST
Constitution Amendment Bill passed by the Rajya Sabha with 2/3
majority on 3 August 2016
Ratification of the Bill by minimum 15 states in their respective
assemblies
Presidents assent for enactment
GST Council to be formed within 60 days of enactment of the Bill
States to frame respective GST legislations in alignment with the Central
GST legislation
GST legislations to be enacted by Parliament and State legislatures

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We can help you gear up for the transition

Gap analysis

Readiness
assessment

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Bridging the gap

Impact
analysis

Implementation
Reengineering
of
Operations &
IT system

Training

Handholding

Gearing up for the transition

Readiness assessment
Review of operating structure, business model and present
indirect taxes regime
Mapping of key transactions
Ascertaining relevant provisions having impact on your operations
Identification of significant internal and external risk areas
Formulation of strategies at a policy level and rolling out
implementation roadmap

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Gearing up for the transition

Impact analysis
Detailed transaction mapping and implications on key categories
of business transactions including new compliance requirements
Quantification of potential impact
Closely working with operations, finance and tax teams to
formulate strategies for consideration of management
Recommendations to optimize working capital and cash flow
requirements
Advising on changes required in the information systems of the
Organization to be GST compliant
Identifying training needs and resource requirements

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Gearing up for the transition

Re-engineering of Operations and IT system
Validation of business processes and data management
Identifying key gaps in operations and IT system
Inputs to IT team on

Data requirements and formats

Modifications in the IT platform

Customization of IT platform by your personnel to generate

requisite information for periodic compliance

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Gearing up for the transition

Handholding
Active support to IT team on queries in the course of modification
Technology solution testing - review of key reports and data
generated on a test check basis
Training employees and stakeholders (external and internal) on:
Provisions of GST law and impact on work flow
Adaptation to new environment
On-job training - recalibration of operations, accounting and
software systems and compliance

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Project implementation
Representation support for
resolution of implementation
challenges and disputes

Listing requirements for

seamless transition
Handholding your
personnel

Plotting relevant provisions

of GST law having impact
on your operations

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Project implementation
Review of business model
Client risk identification
and assessment
Strategy formulation
Seamless transition

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Steering committee

Project implementation
IT Team
IT team
Advice on data formats
Active support during
modification of systems
Review of output
Tax team
Advising on key positions
to be adopted
Designing compliance
calendar
Finance team
Assistance on booking
entries
Accounting of tax liability
Distribution of credit

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Task force

Project implementation

Day to day support for

compliance teams spread
across locations

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Operations team

Snapshot of our comprehensive GST offering

Gap Analysis & Risk Assessment; Strategy formulation for Implementation

Designing and preparing an Implementation Plan

Engaging with Functional Teams for Pre-implementation work

Training of cross functional teams Train the trainers

Going Live Post-implementation support

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Detailed Scope of Our Services on GST

GAP ANALYSIS & RISK ASSESSMENT

Key Focus - Tax costs and compliance

Review of - Pricing models for products/services
Revisit - Supply chain /Procurement processes
Evaluate - Operational processes
Understand the modifications - Accounting and MIS
Technology - advisory & support on desired software modifications

IMPLEMENTATION PLAN
Advice and recommend changes required in each of the above areas and design a
plan to implement GST
st
nd
2 Step Plan 1 Step: Discuss areas and changes; 2 Step: Actual transition plan
Design process manuals for end to end flow of key activities required under GST
Assist in preparation of User Manuals (BRDs) for various Departments Sales/
Marketing, Accounts & Finance, Taxation, Operations & Information Systems (IT)

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Detailed Scope of Our Services on GST

TRAINING
Training to all impacted teams
We will adopt Train the Trainer approach and train key personnel of each
impacted function such as Accounts, Tax, IT, Operations, Sales, etc.

IMPLEMENTATION SUPPORT

Project Management Office (PMO) to implement the GST project

Review results of User Acceptance Testing and integration into GSTN
Assess the readiness to go-live in all the impacted areas
Provide a GST compliance manual

POST IMPLEMENTATION SUPPORT

Review the implemented process and reports and check conformance
Review GST compliances for first 3 months post going live and confirm
appropriateness/advice changes, if required

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Why JMP Advisors

Deep technical knowledge, excellent analytical skills and industry experience

Close involvement of partners and senior professionals

Diverse skill sets in advisory, litigation and compliance

Innovative solutions with a proactive approach

GST advocacy traction at senior levels with central and state authorities

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Why JMP Advisors?

Highly experienced leadership
Jairaj Purandare
Jairaj (Jai) Purandare is the Founder Chairman of JMP Advisors Pvt.
Ltd. Jai has over three decades of experience in tax and business
advisory matters and is an authority on tax and regulation.
Jai was Regional Managing Partner, ChairmanTax and Country
LeaderMarkets & Industries of PricewaterhouseCoopers India. Jai
was earlier Chairman of Ernst & Young India (EY). Jai was the
Country Head of the Tax & Business Advisory practice of Andersen
India, before joining EY.
JMP Advisors has been recognized as a leading Tax firm in the ITR
World Tax 2016 Guide. International Tax Review (Euromoney), in
its report - Worlds Leading Tax Advisors, has named Jai several
times as among the leading Tax Advisors in India.

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Why JMP Advisors?

Highly experienced leadership
Dr. Shrikant Kamat
Shrikant Kamat heads the Indirect tax practice of JMP Advisors.
Shrikant has been in the indirect taxation field for over two decades,
including stints in large accounting and law firms in senior positions.
Shrikant has served in the Customs, Excise & Service Tax department
of the Government of India for over a decade before moving into
consulting. He was an Associate Director in Ernst & Young and
subsequently, headed the Indirect Tax practice at B.K. Khare & Co., a
leading accounting firm.
In his several years of consulting, Shrikant has advised large Indian
business conglomerates as well as foreign multinational corporations
on complex indirect tax issues.
He has diverse experience on all federal and state level indirect taxes
and also appears regularly before the Advance Ruling Authority and
in assessment and appellate proceedings

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Thank
you
Slide

Break Title

Disclaimer
The information contained in this presentation is of a general nature and
reflects the law in India as of the present date. The content is intended to
provide general information about the subject matter and should not be
relied on as a basis for business decisions since conclusions and positions
may vary due to individual facts and circumstances of each particular
case. A detailed analysis of the tax and regulatory implications by a
competent qualified Indian tax advisor would need to be done prior to
any business transactions. JMP Advisors Pvt Ltd or any of its affiliates
have no liability whatsoever for any action taken based on the content
presented herein.

The JMP Advisors Team

Tel: +91 22 2204 1666
Recognised as a leading Tax firm in the ITR World Tax 2016 Guide

2016 All rights reserved