With effect from January 01, 2022 mismatches between GSTR 1 and GSTR 3B can have an impact on your working capital. GST officers can initiate various measures such as withholding your GST refunds, reaching out to your debtors to pay them instead of paying you, etc.
GST Impact analysis and treatment
It is critical for the businesses to evaluate the impact of GST and undertake implementation programs for a smooth transition and rollover without having any hindrances in the smooth conduct of business. Impact analysis, planning and treatment are the foundation for aiming at a smooth GST transition.
We, at VJM & Associates LLP are adept at analysing the complex interplay of several laws, notifications, rules and guidance on the subject in order to provide tailor-made solutions for businesses. GST analysis is not successful under a ‘a one key fits all’ approach. A business specific solution aimed at transaction optimisation demonstrates the value addition delivered to our clientele through our approach.