CBIC assured that no recoveries shall be made for the past periods as well, i.e., delayed GST payment made upto 31.08.2020, by any of the Central and State tax administration. Therefore, interest computation for earlier period shall be carried out in accordance with the decision taken in the 39th meeting of GST Council only.
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.