OverviewOne of the leading Healthcare services provider in Delhi/NCR with a legacy of over half a decade in patient care has assigned Outcome to perform GST Impact assessment on business process, technology and support during the transition to the new indirect tax regime.
Context & Challenges
- Organization wanted to understand the impact of cash flows, working capital, profitability & processes
- Organization wanted to know about the preparedness for a seamless migration into GST regime
- Organization wanted to Identify the impact of taxability of Input & Output under GST along with Impact of GST on input tax credits & computation of proportion of taxable turnover for identifying eligible credits.
- Organization wanted to understand the Impact of GST on return of near expiry goods to vendors & consignment sales
- Compliance requirements under GST.
- GST impact on technology i.e ERP and transition to with modification
- Organization wanted to understand the Impact of GST on various scenarios:
- Registration requirements
- Expenses incurred on employees
- Advance received & utilization thereof
- Procurement on unregistered vendors
- Expenses incurred by sales/marketing team
- Business process understanding and listing of all possible scenarios for revenue generation, procurement including assets, inventory management etc
- Assessing the cash flow impact & impact on business processes
- Review of the ERP being implemented and assess the implementation of patches and updates for GST
- Monitor the progress of implementation and testing through used case scenarios
- Designing the transition checklist and set accountability for the seamless migration
- Support on teething issues post go-live and compliance
- Organization has successfully migrated into GST regime
- Optimized processes to have minimum tax impacts
- ERP system is tuned to generate transactions as per the new law and deliver the desired output for the management and compliance requirement