Date : 30th January 2019
Time : 1:00 PM – 5:30 PM
Introduction of Goods and Services Tax (GST) from July 2017 was one of the biggest reforms in the indirect taxation regime, having operational challenges for Banking and Financial Services sector. GST on this sector is riddled with numerous legacy issues from the service tax regime in terms of minimum account balance (MAB), interchange fees, bullion charges, as also issues which are cropping up for the first time in the GST regime in light of the anti-profiteering measure.
With growing complexities in business and new commercial models like the mobile wallets, business correspondents, payments systems, loyalty points and affiliation cards, it is essential to look at the developed jurisprudence and prepare adequately for the times to come.
To delve deeper, experts from Lakshmikumaran & Sridharan, Mr. Kalpesh Shah, Executive Partner and Mr. L Badri Narayanan, Partner in this seminar at Salon Valliere Dubarry, Sofitel Mumbai BKC, would analyze the recent advance ruling related to financial sector, amendments in the law and notifications, clarification by recent GST circulars and other critical issues.
The seminar will discuss,
Recent GST Developments and critical issues
- Advance Rulings – Liquidated Damage, Penal Interest, Cheque bounce charges
- Treatment of Legacy Service Tax demands in GST – Minimum Account Balance, Interchange Fees, Subvention payments, Bullion Charges
- Amendments to the GST laws
Anti-Profiteering and Financial Sector
- Methodology
- Dealing with DGAP and NAA (Pre- and during investigation)
- Recent trends in NAA orders