Indirect Taxation

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While the world of indirect taxes is complex and dynamic, indirect tax is a large contributor to governmental revenues, making compliance critical. The introduction of GST was a game-changer in India. With few of the taxes from the erstwhile regime continuing to exist until an eventual phase-out, businesses need to know and understand the interplay between GST and such taxes. Frequent amendments to existing tax laws and policies make it imperative for businesses to keep pace with changes across states within the country. Organizations are required to plan their business structures in line with their organizational goals while ensuring compliance with such laws and regulations.

Training the client’s personnel on the various aspects of the tax regime and equipping them with skill sets to handle the issues.
Implementation of procedures and practices required for effective compliance with Goods and service tax requirements.
Helping the client in grafting the software incorporated with GST compliances.
Assisting the client with all GST compliances along with litigations.

Goods and Services Tax

Considered as one of the most significant and path-breaking tax reforms ever undertaken in the history of independent India, it embraced the Goods and Services Tax (GST), a landmark indirect tax reform from 1 July 2017.

GST is a transaction tax that subsumes most of the legacy indirect taxes levied by the Centre and States. This reform called for a significant realignment of operations including supply chain and logistics, pricing, procurements, accounting, and Information Technology (IT) systems.

Tax professionals assist a diverse set of businesses in migrating to GST, ensuring a seamless transition to stay compliant without any business disruptions.

Following services form part of corporate spheres of Goods and service tax:

Custom Act

International trade and commerce play a critical role in the success of an economy. With a consumer centric economy, India imports several goods and services to fulfill the domestic requirements. As the government is also encouraging ‘Make in India’ projects where again significant inputs, parts and components are sourced from various foreign sources. At the same time, Indian customs authorities have always played a vigilant role in regulating cross-border trade and this has given rise to multitude of laws, regulations and notifications to satisfy import and export goods to and from India. This proves overwhelming for organizations to navigate their course often leading to mistakes and litigation.

The Customs Advisory Practice (CAP) of professionals provide end-to-end solutions to legal challenges faced in cross border business transactions with emphasis on ensuring legal compliance with customs and other allied laws while also gaining from tax planning opportunities and incentives given through various Government policies.

The products and services of Custom Advisory Practice include:

Product classification under the Harmonized System of Nomenclature (HSN)
Customs valuation and assistance in investigation of related party transactions by the Special Valuation Branch (SVB)
Export restrictions on dual use and/or defense related items under SCOMET
Trade facilitation and Authorized Economic Operator program

Health check and review of compliance under customs and other allied laws
Contract reviews for international / cross-border transactions
Foreign Trade Policy and Procedures
Regional / Free Trade Agreements and compliances under Rules of Origin
Special Economic Zones / Free Trade Warehousing Zones and their impact on procurement strategy and supply chain
Trade Remedies including anti-dumping and countervailing duties
Special restrictions and compliance with the food law, Drugs & Cosmetics Act, Packaged Commodities Rules, etc. in the context of cross-border transactions

Submission of Proof of Shipment and providing the Admittance of Proof of Shipment
Assistance in Obtaining Refunds / Rebates
Availing Cenvat Credit both on Central Excise and Service Tax
Providing help in maintenance of job work records
Providing help in maintenance of Central Excise/ Service tax records
Provide consultancy on Retainer ship BASIS.
Appearing before the Adjudication Authorities and handling the adjudication proceedings

Central Excise

Central Excise Duty is an indirect tax imposed on those goods which are weaved in India and are meant for home consumption. Indirect taxes like central excise create a complex situation to businessmen as they are applicable to activities that span from manufacturing to final consumption, including trading and imports, distribution, as well as services.

Central excise consulting services primarily covers the following: -

Providing Consultancy on the Central Excise & Service Tax matters and issue
Providing aid in New Registration / Amendment of the RC of the Unit with the Central Excise / Service Tax Department
Assistance in Preparation of Application for Registration with Central Excise / Service Tax Department and Collection of Certificate
Execution of Bond / Bank Guarantee for Export of Goods for both Manufacturer and Merchant Exporter with Central Excise
Execution of UT for Supplies to SEZ
Preparation of ER1 Monthly Returns and Submission of Monthly Returns
Providing counsel on Accounting
Assistance in Obtaining Merchant Exporter - CI1 Certificate for Export by Third Party procedures
Solving to queries and show reason of notices from the Excise Departments
Drafting of and filing of appeals and handling hearings and other issues before the Appellate Authorities including the CESTAT
Review of Compliances

Value-Added Tax/ Sales Tax

VAT compensation pursuant to the compensation act; with VAT refunds for voluntary organizations; and with VAT compensation for the construction of sports facilities.
Tax computation and deduction entitlement, registration in the VAT register, approaches made to the taxation authorities in connection with interpretive statements, and binding preliminary statements
Typical assignments carried out are a general consultancy
Compliance appraisal of formal and material VAT procedures, an inspection of accounts and other approaches by the VAT authorities, assistance with book-keeping regulations and VAT, applications for the refund of Norwegian VAT to foreign businesses, registration for VAT abroad and applications for the refund of VAT paid abroad, VAT representation for foreign businesses, VAT compensation pursuant to the compensation act and in connection with the construction of sports facilities, VAT refunds for voluntary organizations, assessments and audits, tax refunds, litigation support.