Taxation
Taxation Services
Taxation Services
In Taxation, we provide comprehensive advice and assistance on various tax levies including Goods and Services Tax (GST), Customs duty, and Income Tax. We offer expert advice on all aspects of the foreign trade policy, free trade agreements, cross-border supply chains, and anti-dumping duties. We also provide litigation support before adjudication and appellate authorities up to the Tribunal level and brief counsels for matters beyond the Tribunal.
GST Advisory
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Advising on applicability of taxes on various transactions undertaken or proposed to be undertaken
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Advising on routine issues related to classification, valuation, place of supply, claim of tax benefits and admissibility of tax benefits and exemptions
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Opinions on regular tax issues faced by Company
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Analysing registration requirements of the company considering the business operations carried out from such premise
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Analysing requirement of cross charge among multiple registrations of the company
Indirect tax review/health check/due diligence
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Review of GST implementation already done by the Company and various compliances being followed by the Company in accordance with the GST laws
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Review of each business process such as outward supplies, procurements, stock transfers, exports, refunds, job work, ISD and cross-charge, and others
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Validation of tax positions adopted by the Company on various revenue streams as well as expenses subject to tax under reverse charge mechanism
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Undertaking comprehensive review of the business operations to identify tax optimisation opportunities and any compliance gaps
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Conducting detailed indirect tax due diligence (buy side and sell side)
GST Compliance outsourcing
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Managing entire indirect tax compliances of the company on all-India basis
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Strong in-house tax team to support the Company across locations
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Extensive control checks for ensuring accuracy and completeness of data and exhaustive validation checks for return finalisation
Anti-profiteering study
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Detail analysis of the business functions to check the applicability of Anti-profiteering provisions to the Company
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Study of the markets and industry in which the Company operates to evaluate alternative mechanism to ensure passing on of benefits and compliance with GST laws
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Analysis of the procurement and sales structure of the Company and its comparison with the erstwhile indirect tax regime to identify the benefit arising due to GST
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Assistance on any ongoing enquiry or investigation initiated
GST Refunds
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Review of documents against which the Company made exports of goods/ services outside India
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Assistance in reconciliation of any mismatch arising between the data reported in GST returns (Form GSTR-1 & GSTR-3B) and corresponding Shipping Bills with export data as reflected on Customs EDI portal
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Assistance in preparation of the application for refund claim along with requisite annexures for submission with the tax authorities
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Discussion with the Company in relation to various documents to be submitted with the tax authorities and the procedure to be followed
GST Audit
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Assistance in relation to compulsory yearly GST audit of the Company
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Guidance in collation of documents and information for the purpose of filing annual return and audit report
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Review of data collated and reconciliations prepared
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Assistance in preparation and filing of GST annual return and audit report
Litigation support
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Mapping existing indirect tax litigation on various parameters like issue and region (in case of multiple plants/ offices litigation)
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Formulate strategy for speedy and expeditious disposal of cases by inter alia filing applications of early hearing and liaising/ meeting with tax authorities on regular basis to revive old pending litigation for their disposal
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Providing risk-exposure of pending litigation and identification of cases which may lead to litigation
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Drafting of replies to show cause notices, appeals, writ petitions, etc.
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Assistance in representation before the adjudicating and appellate authorities, up to the Tribunal
Advance ruling
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Discussion with the management on areas where advance ruling application can be filed
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Assistance in preparation and filing of the application
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Appearing before the advance ruling authority
Income Tax
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Includes advisory and filing on the income tax return of the assessee
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Also includes providing services relating to tax assessments, tax advisory, structuring and investment strategy, due diligence, and litigation
In the GCC Region
In a globalized digital world characterized by fast-moving markets, changing business models, and the increasing prevalence of VAT, keeping pace with such developments can be challenging. But indirect tax processes and reporting fail to keep up the risk of non-compliance and adverse impacts on cash flow, the amount of tax due, and penalties from tax authorities.
In order to curb such challenges, we are here to provide VAT advisory, implementation, registration, compliance, and training services in the GCC region. Our team of qualified tax advisors and tax accountants are here to guide you through the VAT laws and regulations which will ensure the timely and cost-effective provision of related services for SMEs.
In addition, our teams shall also assist in VAT Health Checks to review the tax positions and recommend the best approach. Our teams can also perform periodic VAT compliances (“filings”) required under the law and ongoing advisory as your business environment changes and the rules regarding VAT framework become more complex.
Based on our local and international experience, we understand that VAT is a complex tax law and will certainly undergo numerous changes in the upcoming years. Our services are aimed to suit both basic and complex submissions for SMEs and larger enterprises.