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 Finance 
 Supply Chain
 Customer
o Risk
Goods & Services Tax
 Enterprise-wide Governance,
Are you ready for the change?
Risk and Compliance
 Internal Audit
GST is seen as the single most important
 Internal Controls
tax reform initiative in India since
o IT Risk and Assurance
independence. It is expected to provide a
 IT Enterprise-wide Governance,
significant boost to investment and
Risk and Compliance
growth of the economy.
 IT Internal Audit
 IT Internal Controls
GST will have a significant impact on
 External Audit IT Support
almost all aspects of businesses operating
o Advisory for Financial Services
in the country, including the supply chain,
 Assurance sourcing and distribution decisions,
o Accounting and Financial Reporting inventory costs and cash flows, pricing
o External Audit Services policy, accounting and IT systems and
o Financial Accounting Advisory transactions management.
Services
o Fraud Investigation & Dispute Services In order to prepare for the GST, the
 Tax companies need to understand its full
o About Tax implications, make and test the system
o Business Tax changes and prepare a roadmap for a
 Business Tax Advisory smooth transition to GST.
 Business Tax Compliance
 Personal Tax While the important dimensions of the
 Cash Tax Planning new tax structure are being closely
 Tax Accounting and Risk examined, the time is ripe for the
Advisory businesses to start making preparations
 Tax Performance Advisory for a successful changeover and
 Tax Policy and Controversy implementation. 
o Human Capital
 Global Mobility
 Performance and Reward What is GST? 
o Indirect Tax
 Customs and International The indirect tax regime in India is
Trade proposed to be replaced by a
 VAT / GST / Sales tax comprehensive dual GST with Central
o International Tax GST and State GST to be levied
 Cross Border Advisory concurrently by the Centre and the States.
 Transfer Pricing and Tax
Effective Supply Chain GST would replace most indirect taxes
currently in place. The tax base is
 Management
o Transaction Tax
 Transactions
o Corporate Development
o Our Services
 Lead Advisory
 Restructuring
 Operational Transaction
Services
 Transaction Support
 Transaction Tax
 Valuation & Business
Modelling
 Strategic Growth Markets
 Specialty Services
o Climate Change and Sustainability
Services
o French Business Network
o Japan Business Services
anticipated to be comprehensive,
including virtually all goods and services,
with minimum exemptions.
Following the destination principle, GST
structure would include imports while
exports would be zero-rated. For inter-
State transactions in India, the State tax
would apply in the State of destination as
opposed to that of origin.
Full input credit system would operate in
parallel for CGST and SGST, however,
cross utilization of input tax credit
between CGST and SGST would not be
permitted.
GST will have a far reaching impact on
virtually all aspects of businesses
operating in the country, for instance,
pricing of products and services; supply
chain optimization; IT, accounting and tax
compliance systems.
Ernst & Young can help.
Ernst & Young has been closely involved
with the GST initiative through its Policy
Advisory Group - a specialized team of
experienced professionals, including
former government officials - that advises
businesses as well as governments on
diverse policy issues. The Group helps
businesses anticipate policy changes,
assess their impact on their operations,
and engage in a constructive dialogue
with the relevant authorities for remedial
measures to address any concerns.
The Group has diverse VAT and GST
experience with extensive interactions
with both the Centre and the State
Governments in India and overseas
engagements in jurisdictions such as
Canada, China and European Union.