Indirect taxes pervade every area of a company’s business. Their impact on material and product costs, cash flow, profitability, and, ultimately, on shareholder value is an important element to stay ahead in the competition. Given the federal structure of India, indirect taxes are levied by both the central and state governments. We have with us, professionals having in-depth knowledge and wide-ranging experience to help you in the effective planning and structuring of your business to achieve financial efficiency and ensure compliance with the regulations. We provide comprehensive advice and assistance on various indirect tax levies including Goods and Services Tax (GST) and Customs Duty.
Service Areas Within Indirect Tax Services
Review of tax returns and tax computations and submission to tax authorities in each state for each registered presence (including review of mismatches between vendors and/or customers and the client’s records based on reconciliation prepared by the client).
Addressing operational issues arising out of GST implementation, vendors and customers ecosystem support and advisory services as well as obtaining advance rulings.
Assisting the client in getting an annual GST audit done in respect of each registered presence where the client is situated.
Representation before GST assessing and appellate authorities in the various states across India.
Apart from GST, some other significant indirect taxes are Custom Duty, Central Excise Duty, Central Sales Tax, Service Tax, Professional Tax, Stamp Duty (at the Federal level), and VAT, Stamp Duty and Entry Taxes (at the State level). We provide opinions and representation before assessing and appellate authorities for the other indirect taxes.
Frequently Asked Questions
- » Assessing the fiscal impact of GST on business
- » Realigning the operations to ensure tax efficiency
- » GST rate applicable on products and services
- » Correct availment of GST credits and utilisation thereof
- » Assessment refund and appeal matters
- » Implications under the anti-profiteering provisions under the GST laws.