Interview Questions.

Q1. How Do We Manage Hsm And Ssc Codes In The Sap System?

GST is developing with a concept of HSM and SSC. HSM is already available which is being followed inputs by using the customs. But SSC is some thing new to be able to be applied inside the GST regime.

Q2. What Will Be The Impact Of Gst On Sezs?

As Per Chapter eight of version IGST law the supply of sale of a SEZ. Developer could be Zero rated. SEZ unit could be dealt with as interstate provider.

Q3. How Sap Will Tackle The Mismatch Concept Of Gst?

When the GST tax payers e-submitting their invoices at the GST networks automatically the reconciliation takes location. However, the GST vendors have been instructed to give additional functionality Reconcile a buy check in with the inward Invoices filed by way of the carriers.

Q4. What Is Gst?

GST is the direction-breaking initiative which turned into taken By Indian Government in the brand new Indian commercial enterprise state of affairs. It is what the government says like one Nation one tax one marketplace.

Q5. From The Existing Tax Regime, How Do You Think The Transition Would Occur, To Gst?

Abruptly the antique taxes would be halted on the final day, and the following day the GST you would be stay. These two principles are such that they'll create lot of chaos, and confusion. So now first of all transition provision the migration of the prevailing tax payers, whether or not be it Vat or significant excise and be it provider tax, it’s already beneath the system considering ultimate three to 4 months.

Q6. What Needs To Be Done In Terms Of Master Data Management?

The master information could have a chief impact. Hence the implementation will simplest achieve success if the grasp information is prepared in the starting itself.

Q7. What Is Isd In Terms Of Gst?

ISD manner enter service distributor, ISD is taken out from Central Excise and service tax and is a new concept for state law, as Earlier it became in Central Excise and carrier taxes. ISD concept could be utilized in location of centralized registration as the same has been scrapped in GST.

Q8. How Would Sap Interact With Gst Network Portal?

Only registered entities want to report their invoices thru the GST community. However, SAP is making plans to provide required interfaces to add the invoice within the GST community. We are well prepared what makes the functionality smooth for our customers to upload their invoices on the GST community.

Q9. How Procurement Of Goods And Services Will Be Impacted In The New Gst Regime?

Procurement itself is a complex procedure in GST. Primary go away all of the inward materials has to be observed through an invoice and the identical is legitimate in GST regime also. Now there may be a huge process behind invoicing, as quickly as you obtain invoices for substances for your corporation you're purported to add that statistics at the GST network.

Q10. How Do Organizations Should Gear Themselves Up For The Upcoming Challenges Of Gst?

Service % released by SAP and which might be mandatory to be applied. Those are essentially to set off the GST degree adjustments on the display stage. Secondly for implementation of GST the clients should be one tax INN process. All the ones clients have been still going for walks on tax ING procedure need to be migrated to textual content INN system. These are the two mandatory steps which need to be done earlier than the GST implementation.

Q11. As Finance Team Suggested That Month Of April May Not Be A Good Month For Starting The Implementation, Due To Their Unavailability. Should We Start Now Only With The Ground Work?

It isn't simplest the GST implementation in the gadget it additionally requires the technique to be addressed after which the method want to be examined and lot of trainings need to be furnished to the users.

Q12. What Would Be The Impact Of Gst On Supplies And Sales Perspective?

In GST, there is a element for time and vicinity of supplier of products additionally. Now there can also be a concept of reverse start mechanism in items as properly, where the provider of the products and the receiver of the products must pay taxes.

Q13. What Is The Kind Of Timeline A Company Should Budget For This Change?

It is optimum to have minimum time of 10 weeks for the GST implementation alone. Various parameters are to be accompanied.

Q14. How Open Sales Order And Open Purchase Orders Will Get Accounted In The Context Of Shifting To Gst?

There could be lot many open purchase orders and sales orders available at the date of Go live for GST. It might also occur that we can also ought to near the present open orders which aren't accomplished or partially carried out. In such cases the customers should re-negotiate with their providers when It involves GST due to the fact Tax fee is also going to get modified and there could be impact on landed cost of cloth or services and the rates may additionally boom or lower. After the re-negotiation, the open purchase orders and sales orders Will be closed and sparkling orders need to be created in the system.

Q15. Is It Necessary To Deactivate All Existing Excise Functionality?

Not vital to deactivate the prevailing excise functionality. The clients can retain with the prevailing excise functionalities and without touching the existing functionalities we can put in force GST.

Q16. How Would The Destination Based Taxation Will Be Mapped In Sap System?

There is some thing name region of supply in tax regime in which the taxation goes to be determined Whether it's miles going to be IGST, CGST or SGST. As in step with the current scenario of deliver and procurement. The vacation spot is continually a dynamic state of affairs.

Q17. How Gst Is Going To Impact Every Other Aspect Of Business?

Every component of commercial enterprise will get tormented by GST like income and distribution, Finance, money owed payable, bill passing crew, Supply Chain, Logistics, IT and ERPs also.