Indirect Taxation
Where we can help:
As we all know, in July 2017 Goods and Services Tax (GST) replaced a plethora of indirect taxes such as excise duty, VAT, service tax, central sales tax, countervailing duty (CVD) and octroi duty. GST has made far-reaching impacts for virtually every business in terms of tax rates, overall tax incidence, input credits, distribution system, prices, cost and invoicing.
To make accurate reporting of transactions and to be a compliant taxpayer, our services includes, preparation of tax returns i.e. GSTR-1, GSTR-3B, GSTR-6 and GSTR-9, tax computations and submission to tax authorities in each state or for each registered presence including review of mismatches between vendors and/or customers and the client’s records based on reconciliation of GSTR-2A/2B with purchase register.
Key benefits:
- Providing regular updates on key changes in the law;
- Ensuring accurate claim of input tax credit to avoid any potential litigation;
- Optimum utilization of input tax credit in case of multi-state registration
Overview of our services:
Transaction analysis: Taxability of proposed business transaction
HSN rate classification of products and services
GST health check services: review of past GST records to avoid potential litigation;
Litigation: Handling of GST/ erstwhile VAT/Service tax litigation
Due diligence report on indirect tax ongoing litigation and potential risk analysis
Financial model review from indirect tax perspective
Audits: Handling of GST assessments and audits
Reconciliation: Preparation of reconciliation statement of outward and inward supplies as per GST reporting vis-à-vis financial reporting
Refunds: Preparation, computation and filing of GST refund claim
SEZ and STPI compliance– Preparation and filing of QPR and APR filing
MEIS (Merchandise Exports from India) Scheme / RoDTEP (Remission of Duties or Taxes on Export products) scheme- Computation and filing of incentive claim
SEIS (Service Export from India) Scheme- Computation and filing of incentive claim
Tax transformation projects i.e. Indirect tax expert support in ASP/GSP automation, e-invoice automation and litigation tool automation
Retainership services to manage end to end compliance and advisory in customized manner