What is the GST Advisory Services Rate in India?

The GST Advisory services cover the impact of GST on the business, examining market scenarios of business models. The fiscal impact is evaluated on the impact of GST on business and product pricing through parameters like changes in tax rates, changes in time and place of supply rules for goods or services, or both. The GST valuation mechanism includes incidence on free costs supplies and stock transfers.

ICES Advisory 2022

The CBIC advisory 10/2022 dated ICES advisory 06/2022 has changed the customs system with respect to Authorised Dealer code registration in exports.

• AD code with a bank account is required to obtain registration in the system at a single port. The AD code is now available at every location of customs.
• The new AD code registration at GST Advisory Portal is registered through online request at ICEGATE. The option to add or change the AD code and bank account against an IEC is not allowed.
• There is no requirement for separate registration at remaining ports for document filling.
• The ICES advisory 13/2022 provides that there can be multiple AD codes that can be associated with registration against an IEC.

Guidelines on Security of IT-Enabled Services

The Directorate General of systems and data management has issued a notification for DG systems advisory 07/2021 regarding Information Technology (IT) for improved tax administration.

1. Cybersecurity is crucial in a digital world. There are rising threat cases and the exchange of data with private stakeholders cannot be changed. There are numerous initiatives taken regarding the objective of transparency and digital administration.

2. The notification on procurement and use of IT-enabled services of GST Advisory for quality and data security.

3. The process for procuring IT services for applications where the functions are not according to the DGS and undertaken according to the manual for procurement of consultancy services 2017.

4. The eligibility criteria provided by the advisory for the participation of vendors and including:

• The procurement process for selection is fair, competitive and reasonable as per the notification.
• The tender is issued from time to time according to the guidelines with procurement through e-Procure GST Portal Advisory.
• Delegation of Financial Powers must comply and depending on the financial value of the procurement and applied for approval.
• There must be defined metrics for the maintenance of the application.
• RFP must specify the vendor for GST Advisory who is responsible for getting the security audit completed as per CERT-IN.
• The provisions of ‘Make in India’ according to the government guidelines for the participation of MSMEs or Startups should be followed.

ICES Advisory on Budget 2021

The union budget 2021-22 has introduced major changes in customs with respect to duty structure and new rates come with effect from ICES advisory 02/2021. The bill of entry is restored according to the notification on rate changes. The application of the levy system must be publicized between the officers and the jurisdiction of trade for the correct filing of the bill of entry.

The government introduced ICES advisory 06/2021 for e-Sanchit for electronic storage and computerized handling of indirect tax documents for uploading documents facilitating trading across borders.

The following are the steps for use of E-Sanchit as per GST Advisory:

• The user must register on ICEGATE. The registration advisory is used for creating a valid login for ICEGATE.
• The documents are for digital upload as per the detailed guidelines.
• Login to ICEGATE with your username and password.
• Click on E-Sanchit available on ICEGATE. The required documents are uploaded with the upload documents button.
• The beneficiary details for each selected PDF file.
• Click on ‘Validated document’ to validate the digital signature and beneficiary details for every document.
• Select the document type for upload for the document in PDF can be digitally signed by the user.
• Click on submit document and document size and type for displaying the comments against each file. The user shall rectify the error and upload the file.
• The GST Advisory and compliance system is generated a unique number known as IRN displaying on to the concerned ICEGATE user as a structured message from ICEGATE.
• The users can also view the documents uploaded by the user.

Conclusion

GST Services on advisory involve analyzing the impact of GST on businesses with alternative business models, and guidance for implementation at the business level.

At Online XBRL you will get GST services with efficient solutions and complete assistance for completing related services.