Indirect Tax

Indirect Tax

Indirect tax has come to be at the forefront of the government’s fiscal reform priorities over the years. For businesses, this translates into complicated web of statutory compliances and regulations, as well as the need for strategic thinking to chart their way forward in a relatively nascent indirect tax regime. We assist our clients with both aspects through our robust compliance and regulation frameworks, as well as the thought leadership in strategic initiatives.

Compliances & Regulations

  • Prepare and review tax computations
  • Develop system and methodology for data collation
  • Ensure accurate and timely GST return filing and tax payments
  • Ensure compliance of E-way bill requirements
  • Maintain robust tax reconciliations and plug leaks in the system

Strategic Structuring & Advisory

  • Indirect tax analysis and applicability on various transactions undertaken or propose to be undertaken
  • Cultivate a mechanism to optimize tax credits and reduce tax liability
  • Structure Indirect tax efficient contracts or agreements
  • Advise on setting up a business in tax efficient manner
  • Analyse business requirements and operations of the company to align them with the prerequisites of Indirect tax regime

Due Diligence & Health Check

  • Comprehensive scrutiny of business engagements to examine the applicability of Indirect tax
  • Review statutory returns/ records and documentation
  • Substantiate tax positions taken by the company on critical matters
  • Identify and report exposures and non-compliances related to Indirect tax laws
  • Review pending litigation issues & point of concern
  • Conduct elaborated and amplified due diligence of indirect tax section
  • Suggest and take remedial actions to bridge major gaps

Representation & Litigation

  • Assistance in representation services before the relevant authorities
  • Assistance in drafting and filing replies to show cause notices, appeals, etc.
  • Review pending litigation issues and provide risk exposure report
  • Provide support to external counsel on various matters
  • Diagnostic review of litigation history and assistance in litigation risk analysis
  • Prepare and file applications before advance ruling authority

GST Audits, Refunds & other support services

  • Assistance in relation to mandatory annual GST audit of the Company
  • Prepare and file GST annual return and audit report
  • Draft and file application and annexures required for refund

Customs & Foreign Trade Policy

  • Assistance on import-export procedures
  • Support on product classification, valuation, license requirements etc.
  • Assistance in obtaining various export incentives such as SEIS, MEIS, EPCG, etc.
  • Assistance in relation to HSN classification of products based on their functionality and technical description
  • Helping Companies obtain certification under Authorised Economic Operator (AEO) programme