Challenges in Adopting
New VAT Laws and Way Forward
Course Number : 05Challenges in Adopting New VAT Laws and Way Forward
Course objectives
- VAT Act 2012 and VAT Rules 2016 is effective from the 1st day of July 2019.
- This is a paradigm shift from previous regime like 1991. The objective of this workshop is to update corporate decision makers with the changes having impact upon the day to day operations.
- Identify the challenges faced by corporate body in adopting the changes in their business operation procedure (BOP) and the way forward.
Course duration : 02 Days
Benefit of this training
- Add value to the business learning the technique of optimizing the tax benefits particularly Input Tax Credit
- Protecting corporate entity from the mischief of laws
- Reducing the VAT management cost through integration
- Reducing the compliance cost persuading the business partner
Participants level
CFO, Head of Supply Chain (responsible for purchase of material, services and capital assets) and Head of VAT Planning and Compliance. Enthusiastic CEOs are also welcome to the workshop.
Possible topics to be covered
- VAT in the eye of Business
- Key Changes in VAT Act 2012 and VAT Rules 2016 in context with VAT Act 1991 and VAT Rules 1991
- Strategies to be adopted by management for efficient implementation of new laws in
- business operation procedure (BOP)
- VAT Registration/re-registration under new regime
- Valuation & Tax imposition with special emphasis on the computation of SD under changed legal provisions
- Tax computation and timing of payment
- Input Tax and technique to optimize Credit
- Withholding VAT in changed scenario
- Advance tax and its optimal adjustment
- Export & Deemed Export
- Adjustment events, Increasing Adjustment & Decreasing Adjustment
- Maintenance of Books of Accounts
- Submission of Input Output Coefficient and Return
- Export & Deemed Export