GST 2.0 Returns: The Stage for Technical Mastery and Strategic Collaboration
With GST 2.0 reshaping the landscape, compliance has evolved into a distinctly technical arena, where the spotlight shines on GST professionals and their expertise with HSN codes, rates realignment, and system navigation. For clients, the role varies—some step up as collaborative partners, providing timely stock details and documentation; others, sensing the winds of potential dispute, keenly watch for developments that could give rise to a spirited case or appeal. The focal point remains 22nd September—now recognized in GST circles as the grand reset, dividing transactions and stock into ‘pre’ and ‘post’ epochs. While professionals work behind the scenes, ensuring a seamless bifurcation of inventory and application of revised rates, clients may experience a spectrum of engagement: from proactive, hands-on involvement to the classic “wait and see” approach, especially when technical aspects come to the fore. Where goods move from taxable to exempt, the reversal of credits is not s...