SAP Goods and Service Tax (GST)

The GST is a Value added Tax (VAT) is proposed to be a comprehensive indirect tax levy on manufacture, sale and consumption of goods as well as services at the national level. It will replace all indirect taxes levied on goods and services by the Indian Central and state governments. It is aimed at being comprehensive for most goods and services.

Advanced 5(3 Ratings) 89 Students enrolled
Created by E-Learnify Team Last updated Tue, 24-Nov-2020 English
What will i learn?
  • Training Delivery Via Classroom training or Virtual Classroom or Instructor Led Online Training or Self Paced Learning Program
  • Multiple Practical Assignments
  • 24*7 Support during the training
  • Soft Copy of Training Material
  • 2 or 3 Industrial Level Project which you can use in your CV as a training projects

Curriculum for this course
0 Lessons 00:00:00 Hours
Requirements
  • BE/B.Tech, M.E./M.Tech, BBA/MBA with 0-6 months Experience and Experienced Professional are also eligible
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Description

COURSE DESCRIPTION OF SAP GST COURSE

Course Title: The GST is a Value added Tax (VAT) is proposed to be a comprehensive indirect tax levy on manufacture, sale and consumption of goods as well as services at the national level. It will replace all indirect taxes levied on goods and services by the Indian Central and state governments. It is aimed at being comprehensive for most goods and services.
We have successful track record of delivering quality training on sap gst online training / certification from the students of UK , Europe , USA , Qatar , Germany , Italy , Spain , Canada , Denmark , Sweden , Switzerland , Netherlands , Australia , New Zealand , UAE , Thailand , Malaysia and many more countries

Header:
The GST is a Value added Tax (VAT) is proposed to be a comprehensive indirect tax levy on manufacture, sale and consumption of goods as well as services at the national level. It will replace all indirect taxes levied on goods and services by the Indian Central and state governments. It is aimed at being comprehensive for most goods and services.
We have successful track record of delivering quality training on sap fico online training / certification from the students of UK , Europe , USA , Quatar , Germany , Italy , Spain , Canada , Denmark , Sweden , Switzerland , Netherlands and many more countries

Key Features of SAP GST:
Training Delivery Via Classroom training or Virtual Classroom or Instructor Led Online Training or Self Paced Learning Program
Multiple Practical Assignments
24*7 Support during the training
Soft Copy of Training Material
2 or 3 Industrial Level Project which you can use in your CV as a training projects
Course Description:

 

Course Preview:
High Level Impacts of GST Legislation:
GST Training & SAP Landscape - High Level Impact.
Key Questions
Compliance to legal requirements?
What needs to be done in systems and processes to comply with GST regulations?
Efficiency that reduces costs?
Do you have a solution design that automates accounting for GST input and output tax and provide accurate data for tax returns &auditing?
Flexibility to respond to the pace of business?
How to achieve a standard GST compliant SAP solution which support the pace of your business?.

IT challenges
IT challenges covered in the training

  • Need to deliver a standardized approachto supporting GST for SAP users with low TCI to drive business continuity
  • Consistent upgrade path for GST functionality
  • Total Cost of Development for custom GST applications, Forms and Reports increase the overall TCO
  • Maximized use of standard SAP functionality
  • A solution aligned with the long-term direction of SAP products
  • High pressure from government to ascertain compliance versus high effort, restricted time line and limited budget

GST Compliant system
GST Compliant system– Challenges

  • Inaccurate & delayed GST returns can attract penalty
  • Complex rules to manage special conditions
  • Interfaces and SAP customizations may pose additional challenges for GST enablement
  • Impacts entire supply chain and related financial accounting
  • Regression testing of SAP and all connected systems
  • Managing transition scenarios such as Taxable Goods / Services Sold Before
  • Sub optimal implementation of GST can even result in cash flow issues for organization

Key business impacts
Training on Multiple business areas where GST will put an impact
Summary of key business impacts


Sourcing
  • Inter-State procurement could prove to be a viable strategy
  • This may also open opportunities to consolidate suppliers/vendors

Distribution

  • Changes in tax system could also warrant changes in distribution arrangements
  • Current arrangements for distribution of finished goods may no longer be optimal with the removal of the concept of excise duty on manufacturing
  • Current network structure and product flows may need review and redesign

Pricing and profitability

  • Tax savings resulting from the new GST structure would require re-pricing of products
  • Margins or price mark-ups would also need to be reexamined

Cash flow

  • Removal of excise duty on manufacturing can result in improvements in cash flow and inventory costs since GST will now be paid at the time of sale/supply rather than at the time or removal of goods from the factory

System changes and transaction management

  • Required changes affect multiple areas including master data, supply chain transactions, Audit and Reporting
  • Open transactions and balances will need to be migrated on the cut-off date to ensure smooth transition to GST
  • Changes to supply chain reports (e.g., purchase register, sales register, services register), other tax reports and forms (e.g., invoices, purchase orders) will need review and adjustments
  • Enhanced need for reconciliation of data with suppliers, government and other partners

Training

  • Training and education of employees to understand new compliance requirements under GST to ensure a smooth transition

Training on GST Impact
Training on GST Impact – SAP Landscape - Summary
SAP Materials Management (Procure to Pay)
Material/Service Master | Purchase orders | Subsequent Credit /Debit | Purchase Info Records | Debit/Credit Notes | Invoices
SAP Sales & Distribution (Order to Cash)
Sales Orders | Distribution Channel | Pricing (Types of Conditions) | Sales Area | Billing Schedule | Debit/Credit Notes | Invoicing | Delivery
SAP Financial Accounting
Accounts Payable and Receivables | Invoicing (Non-PO) | Management of Master Records Billing (Non-SO) | Petty Cash | Invoices and Credit Notes | General Voucher | G/L Account
SAP Forms & Master Data
SAP FI, SD, MM, G/L Reports |Other Statutory Reporting | Vendor, Customer | G/L Account Reporting | SAP Human Capital Management | Employee Benefits | Travel & Expenses
Knowledge Sessions for companies to proactively identify areas impacted and prepare and test business scenarios to measure impacts

  • Understand key areas of impact in their business
  • Prepare different scenarios for the application of GST
  • Continually track policy development regarding GST and update prepared scenarios accordingly
  • Identify issues and concerns needing representation to the authorities and develop a strategy for effective management of these
  • Regression testing of SAP and all connected systems
  • Prepare a business and IT transition roadmap and align relevant teams/li>
  • Prepare IT systems to build and test process scenarios
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About the instructor
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  • Wed, 25-Nov-2020
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  • Tue, 22-Dec-2020
    Omini Gupta
  • Tue, 22-Dec-2020
    Ajit Kumar Kumar
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