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GST – Upcoming Changes, Legislative, Legal and other updates

Goods & Services Tax

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08-November-2019

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02.00 p.m. - 05.00 p.m.

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Park Central Hotel, Kaloor. Ernakulam

The Cochin Chamber of Commerce & Industry is organising a Half-Day Session on GST – Upcoming Changes, Legislative, Legal and other updates. The programme is scheduled on the 8th of November from 02.00 p.m. to 05.00 p.m. at Hotel Park Central, Ernakulam. Registrations open from 01.30 p.m.

The Speakers for this session will be Mr. Kunal Wadhwa, Partner, Indirect Tax, PwC India, Bangalore and Ms. Nisha Menon, Director, Indirect Tax, PwC India, Cochin.

About the Session

There is increased focus from the Government's side on curbing tax evasion and bringing in more transparency to the entire GST system. With this objective in the backdrop, two major changes are on the anvil: The new return formats (where the primary thrust is on real time reporting of transactions and availment of credits to the extent the taxes have been paid by vendors) and  e-invoicing. While the GST Council has approved the phase-wise implementation of e-invoicing for B2B transactions from 1 January 2020 onwards on a voluntary basis, the new GST returns are proposed to be introduced from April, 2020.

As a precursor to the above changes, the Government has already imposed restrictions on availment of input tax credit by recipients in cases credit details are not reflected in GSTR 2A of businesses

While the objective behind such changes seem reasonable, its implementation could be quite challenging for businesses. These changes are expected to trigger a huge shift in the way GST compliances are carried out and would also have a great impact on the IT systems. This session is aimed at providing a brief update on the above proposed changes and also shed some light on other key amendments and practical challenges that the companies might face in complying with the same.

List of topics that will be covered

A. Upcoming Changes in GST 

- E-invoicing

- New Return Format.

B. Legislative Updates

- 20% ITC Restriction

- Retrospective amendment to CGST Rules on impacting last date to avail ITC;

- Recent Circulars

C. Legal updates

- Latest Case laws, AARs etc mainly focusing on ruling around services qualifying as 'intermediary' under GST

D. Other Updates

- Deemed supply provided by overseas entities with respect to brand, licenses, shared services, etc

- Key points under GST Audit

- LDRS.