A paradigm shift has been made in the Indirect tax set up of India with effect from 1st July 2017 with the introduction of Goods and Service Tax (GST).
GST has subsumed various indirect taxes earlier levied at the federal and state level in India, primarily including Central Excise Duty, Central Sales Tax, Service Tax, Value Added Tax and Entry Tax laws (except on few specified products). GST has impacts major functions of an organization including finance and accounting, IT, supply chain and sales and marketing, etc.
Our Indirect tax team offers the following systematized compliance services and operational support services aligned to the needs of our clients:
- Compliances as prescribed under the respective Indirect tax laws, including assistance in obtaining registrations, undertaking periodic GST compliances i.e. computation of tax liability and filing of returns; and filing and obtaining refunds from the regulatory authorities.
- GST Audit
- Advisory services which include execution of Turnkey Projects / EPC Contracts involving planning at the bidding stage, structuring of contracts, identification of tax optimization opportunities, devising the most tax efficient models and providing a comprehensive range of compliance services subsequent to the bidding stage.
- Assistance and representation in Indirect tax audits initiated by the regulatory authorities.
- Health Check / Diagnostic Credit reviews to identify relevant tax opportunities available and optimizing the overall Indirect Tax incidence and undertaking Due diligence reviews highlighting on possible Indirect tax exposures of the concerned entity.
- Litigation Support including preparing replies /responses to show cause notices, routine inquiry letters, assessment proceedings as well as assistance in summons proceedings.
- Assistance in Customs Special Valuation Branch proceedings.