At CS, we offer an end-to-end VAT support for SME’s as well as larger entities. We have an in-house VAT Advisory team, that has experience and sound knowledge built on working in VAT environments. Our services may be divided as follows:
Impact Analysis
- Understand the business transaction & establish the applicability of VAT
- Flag the potential impact of VAT compliance on business
- Ascertain the cash flows & working capital impact analysis
Transitional Compliance/Support
- Provide support for VAT registration
- Organize VAT related training and customized workshops
- Map out all transaction types and review/amend any existing contracts with customers/vendors
- Develop SOPs and new compliance manuals
- IT diagnostics/modification to adapt to current IT system or migration to new system
- Designing new corporate and business documentation for compliance
- Testing and adaption of the new IT system
VAT Accounting & CFO services
- Review and analyze the existing chart of accounts of the business
- Routine accounting help including VAT accounting
- Maintain supporting documentation
- Support services for statutory compliance
- Update VAT master data of vendors
- Vendor reconciliation for VAT credits
- Perform contract reviews
- MIS preparation and reporting
Post VAT implementation support
- Computation of eligibility for input credit
- Compute the final VAT liability
- Assist in filing VAT returns on a timely manner
- Support any changes as and when required due to changes in the legislation