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Goods and Services Tax (GST) and other Indirect taxes |
India is noted for its intricate and complex tax structure. The much talked about 'GST in India' triggered the tax structure to eliminate the multiplicity of the taxes and their cascading effects and to harmonize the Center and State tax administration. GST is an indirect tax reform, which aims to remove tax barriers between states and create a single market. It is collected on value added at each stage of supply chain right from production till distribution.
Goods & Services Tax (GST) is a game-changer reform for the Indian economy as it will help to develop a common Indian market and reduce the cascading effect of tax on the cost of goods and services. Implementation of GST in India will impact the Tax Structure, Tax Incidence, Tax Computation, Tax Payment, Compliance, Credit Utilization and Reporting, leading to a complete overhaul of the current indirect tax system.
Our Indirect tax team comprehends a thorough understanding of the evolving Goods & Services tax law and its emerging trends and issues in various sectors and their impact on clients’ businesses. We provide advisory and compliance related services with reference to all indirect tax laws including GST, Customs Duty and Foreign Trade Policy and also on the pending tax and litigation matters related to the erstwhile regime
This paradigm shift to Goods & Services Tax in India will lead to far reaching impacts on different business processes including operations, supply chain model contractual agreements, pricing, information technology, human resource & tax compliances.
Here is an indicative glimpse of services we offer, in light of a dynamic and evolving regulatory environment surrounding Goods & Services Tax:
- Assistance and advice for diagnostic / impact analysis to assess the operational, commercial and financial impact of GST
- Registration of new dealers under GST
- Filing of Forms and Returns under the GST
- Litigation support services under the GST
- Indirect tax health check
- Advice on all GST related matters including interpretation of provisions, classification, valuation, advance ruling, anti-profiteering, compliance methodology, representations, dispute resolution strategy, tax technology, etc
- Customs & Foreign Trade Policy Assistance
- Retainership Service
- Presenting updates on regular basis on implementation, Model GST law and other legal aspects & clarifications on Indian GST provided by Government.
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