GST rate Rationalization

Prime Minister has on 15 August announced significant GST rate reforms which will be implemented soon. The reforms are stated to boost consumption, ease compliance and support MSMEs. GoM has suggested 2 slab GST structure of 5% and 18%, with only a small item of goods attracting 40% GST, removing the earlier 12% and 28% GST rates.

The webinar by Lakshmikumaran & Sridharan Attorneys (LKS) will inter alia cover:

Impact on pricing and supply chain strategies:

• Long Term Contracts  (B2B and B2G)
• Reassess retail pricing and MRP across product lines 
• Impact on stock in the forward supply chain
• Anti-profiteering provisions under GST
• Computation of  benefits of rate cuts and ITC and methodology to be adopted
• Mitigation of risk of pricing disputes due to transitional stock and rate changes
• Supply chain reviews to manage inverted duty structures and input tax credit accumulation  
• Compliance with allied laws – Legal metrology; Drugs and cosmetics
• Transition management – SOP, training and communications

Experience from previous rate reductions in various industry sectors  

• Investigations, methodology, expectations from Government
• Delhi HC decision on Anti-profiteering policy and methodology – analysis and impact
• Update on GSTAT and Anti-profiteering
  
  

Speakers:

Mr. Badri Narayanan, Executive Partner
Mr. Asish Philip, Executive Partner
Mr. Darshan Machchhar, Associate Partner