Indirect Taxation

 

Indirect taxes pervade every area of a company’s business and are applicable to activities that span from manufacturing to final consumption of goods and services. Their extant, therefore has a sizeable impact on raw materials, product costs and prices, and ultimately on the profitability and competitiveness of an organisation. In India, indirect tax regime has gone through various reforms, however, the structure remains non-uniform across central, state and local levels and remains riddled with various laws and regulations. We, thus help our clients in assessing the amount of indirect taxes payable and their respective impact on the company’s profitability.  We offer comprehensive advice and assistance in all areas of indirect taxes from customs to central excise, from service tax to works contract tax and sales tax and now, VAT. All this is backed by litigation support at every stage. We also offer expertise on all aspects of trade policy, including on free trade agreements, anti dumping duties & cross border supply chains.  

 

Our service offerings include:
 
Strategic Consulting & Advisory:  

  • Structuring of contracts/ transactions to optimize indirect tax incidence
  • Formulating indirect tax efficient business models
  • Conducting VAT impact assessment studies
  • Harmonizing customs valuation with transfer pricing 
  • Conducting health checks aimed at providing assurance in tax compliance
  • Conducting indirect tax specific due diligence reviews (buy side/sell side)
  • Advice on classification, valuation, applicability of taxes on transactions and admissibility to tax benefits/exemptions  
  • Opinions on indirect tax issues  
  • Identification of innovative tax planning opportunities 
  • Compliance Support:  
             Indirect tax compliance support/outsourcing  
             Preparations of customized compliance manuals on all indirect taxes  
             Single point contact & centralized coordination for tax payments, filing of returns & compilation of documents  
     

Litigation support and Representations: 

  • Drafting appeals & submissions  
  • Appearances & arguments before adjudication & appellate authorities
  •  Appearance & arguments before Anti-dumping authorities  
  • Briefing Senior Counsel on need basis  

Trade Facilitation 

  • Obtaining required registrations & licenses  
  • Assistance in availing benefits under EXIM Policy schemes  
  • Setting up and operationalising EOUs/STP units/SEZ units  
  • Advisory and operational assistance for availing benefits under Free Trade/ Regional Trade Agreements 

 

Accounting and Deferred tax

Avail accounting services & procedures as per US accounting standards from us. We provide the following basic US GAAP accounting and deferred tax calculation support with the help of our panel of CPA (Certified Public Accountants).

  • Deferred tax calculation for US GAAP purposes
  • Accounting reconciliation between Indian and US GAAP
  • MIS support for US reporting

 

We also provide consulting on:

 

Service Tax

 

  • Registration under Service Tax law
  • Consultancy on various issues relating to service tax including maintenance of proper records and accounting under the law
  • Compilation of data of Cenvat credit
  • Assistance in availment of notified Abatements
  • Utilization and availment of service tax credit in accordance with the Service Tax Credit Rules
  • Computation and Assessment of Service Tax payable
  • Preparation and filing of returns

 

Value Added Tax (VAT)

  • Assisting in Sales Tax Registration under Central Sales Tax Act and Delhi VAT.
  • Consultancy on matters related to Sales Tax including Tax planning.
  • Preparation of  VAT (Value Added Tax) returns
  • Filing of  Electronic/Manual VAT returns
  • Obtaining required statutory forms
  • Liaison with VAT authorities
  • Aiding Assessments of Sales Tax 
  • Filing and pleading appeals, wherever necessary.
  • Consultancy on matters related to Delhi Works Contract Tax Act 1999

 

 
     
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