https://www.taxtmi.com/article/detailed?id=7237 Availability of input tax credit under GST will subsume prior non-creditable levies (CST, excise on purchases, cesses, CVD and certain service tax elements) and materially reduce dealer procurement costs, subject to Model GST Law restrictions. This shift affects sale pricing if benefits are passed to consumers, but imposes working capital strains from tax on inter-branch transfers, vouchers and booking advances, and replaces receipt-based tax practices with system-driven time-of-supply liabilities. Valuation, composite-supply classification, transitional credit documentation and anti-profiteering obligations are key compliance and litigation risks needing contractual, accounting and IT adjustments. en-us Sat, 28 Jan 2017 07:04:33 +0530 Sat, 28 Jan 2017 07:04:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=7237 Availability of input tax credit under GST will subsume prior non-creditable levies (CST, excise on purchases, cesses, CVD and certain service tax elements) and materially reduce dealer procurement costs, subject to Model GST Law restrictions. This shift affects sale pricing if benefits are passed to consumers, but imposes working capital strains from tax on inter-branch transfers, vouchers and booking advances, and replaces receipt-based tax practices with system-driven time-of-supply liabilities. Valuation, composite-supply classification, transitional credit documentation and anti-profiteering obligations are key compliance and litigation risks needing contractual, accounting and IT adjustments. Articles Goods and Services Tax - GST Sat, 28 Jan 2017 07:04:33 +0530 https://www.taxtmi.com/article/detailed?id=7237