How to Become a GST Compliant ACCOUNTANT

Basics of GST

• Understanding taxability of each accounting transaction in GST
• Invoicing requirements and its importance under GST
• Reconciliation of business turnover with GST turnover.
• Concept of E-way bills, legal requirement to generate e-way bill and its importance in GST era.How to ensure compliance of above parameters from scrutiny/audit perspective

Input tax credit under GST

• Nuances of availing ITC under GST regime
• ITC on Domestic supplies (Supplies attracting forward charge vis-à-vis supplies attracting reverse charge along with exhaustive list of RCM supplies)
• Concept of eligible and ineligible ITC.
• ITC on import supplies, eligibility, procedure to claim and allied procedures.
• Live overview of IMS Portal and GSTR-2B generated on GST portal

ISD vs Cross charge

• Concept of Input service distributor under GST and its relevance.
• How to determine applicability of cross charge in GST
• How to choose between cross charge and ISD?
• Practical insights to ease the ISD and Cross charge compliance in real business scenarios

Refunds under GST

• Scenarios where refund is allowed under GST law
• How to ensure compliance with GST laws to claim eligible refund
• Nuances in GST refund
• Documentation process for claiming GST refund
• Mistakes to avoid while filing for a GST refund

Assessments and Audit in GST

• Types of assessment under GST
• Privileges available to taxpayer in GST Assessment
• Documentation required to be maintained for Assessments and Audit under GST
• Effectively dealing with assessments and audit under GST
• Practical case scenarios, 6-7 sample assessment notices and their replies to handle GST audits and assessments

Show cause notice under GST

• What is Show cause notice and when is SCN issued?
• Proper manner of reading and analyzing a SCN.
• Nuances of reading and articulating an SCN.
• How to draft an effective reply to SCN.
• Practical case scenarios, 3-5 sample SCNs and their replies to handle SCNs in GST