Well established is the fact that when it comes to the directed, goal oriented and rightly spirited implementation of a legal reform in the country, the Company Secretaries are apt professionals to ensure proficient and faultless application of each and every provision of that reform. In the gamut of GST also, professional excellence of the Company Secretaries would surely pave the way for optimum realization of opportunities while remarkably tackling the challenges of this momentous reform of indirect taxation system of the country. Check more details for "Opportunities for CS in GST, How can CS become a GST Practitioner?" from below...
Opportunities for CS in GSTWhat are the opportunities available for Company Secretaries under Goods and Services Tax regime?
- A Company Secretary can comprehensively interpret the law and provide complete guidance and advisory to the business entities.
- A Company Secretary can help in providing guidance on proper tax planning to the client.
- Like any other tax laws, GST would also require proper record keeping and maintaining systematic records of credit of input/input service and its proper utilization etc. Company Secretaries have competent skills to perform these tasks.
- Vetting of legal documents and drafting agreements, etc. also requires professional skills. Company Secretary possess acumen in this area and could assist in drafting legal documents like replies to show cause notice, representation at appellate forums, representations before adjudicating authority, opinions and clarifications.
- the date of issue of invoice or
- the date of receipt of payment
How can a Company Secretary become a GST Practitioner?
What all activities can be performed by a CS Professional as a GST Practitioner?A Goods and Services Tax Practitioner can undertake any or all of the following activities on behalf of a registered person:
- i. furnish details of outward and inward supplies
- ii. furnish monthly, quarterly, annual or final return
- iii. make deposit for credit into the electronic cash ledger
- iv. file a claim for refund and
- v. file an application for amendment or cancellation of registration.