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TAXATION

Unlock the Complexity of Taxation: Our Expertise Ensures Compliance, Optimization, and Strategic Planning for Maximum Returns.

DIRECT TAX

Direct taxes in India, governed by the Income Tax Act, include income tax, corporate tax, and capital gains tax. These taxes are levied directly on individuals and businesses based on their income, profits, and assets, playing a vital role in revenue generation for the government.

Tax Audit

Tax audit is a compulsory audit under section 44AB of the Income-tax Act in India which is conducted where gross turnover exceeds Rs. 1 crore/ 25 lakh from business/profession.

Services

  • Conducting of tax audit
  • Filing of tax audit report in form 3CA/3CB and 3CD
Tax Management / Compliance

Tax management/compliance is at the core of today’s business obligations that include filings and payment of taxes.

Services

  • Filing of income tax returns
  • Filing of TDS/TCS returns
  • Compliances related to advance tax
Tax Representation & Litigation
Scrutiny Assessment U/S 143(3)

Scrutiny assessment refers to the examination of a return of income by giving an opportunity to the assessee to substantiate the income declared and the expenses, deductions, losses, exemptions, etc. claimed in the return with the help of evidence.

Purpose

In the cases selected for scrutiny, the assessing officer conducts necessary enquiries during assessment proceedings to ensure that the assessee has not:

  • Understated the income, or
  • Computed excessive loss, or
  • Underpaid tax in any manner.
Rectification U/s Section 154

Rectification of mistake apparent in intimation, assessment, revision and appellate orders.

Appeals U/s 246A [i.e. CIT(A)] and 253 [i.e. ITAT]

An appeal is applying to a higher authority for a reversal of the decision of an assessing officer/lower authority.

Revision U/s 263 & 264

Revision U/s 263 is the reversal of erroneous and prejudicial order of subordinates by CIT/Pr. CIT. Revision U/s 264 is an alternative option available to the assessee. Instead of going to appeal, he can approach CIT/ Pr. CIT.

Services
  • Representation before the tax department with respect to assessments, investigation, survey, search and other civil cases
  • Representation before CIT(A) and ITAT
  • Representation before the Authority for Advance Ruling with respect to residents
  • Filing of replies to summons and other notices
  • Filing of compounding applications to CCIT
TRANSFER PRICING

Specified transactions between related parties are applicable for domestic transfer pricing regulations and compliance.

Services

A report under Section 92E in Form 3CEB needs to be filed for all the specified domestic transactions whose individual transaction amount exceeds 5/20 crores during the year under review.

TAX DUE DELIGENCE

Due diligence with regard to tax includes a review of all taxes, the company is required to pay and ensuring their proper calculation with no intention of under-reporting of taxes. Additionally, verify the status of any tax-related case pending with the tax authorities.

Services

Documentation of tax compliance and potential issues typically includes verification and review of the following:

  • Copies of all tax returns – including income tax and withholding taxes
  • Information relating to any past or present pending tax assessments against the company
TAX ADVISORY & OPINIONS

In today’s business world, every transaction/arrangement is subject to income tax. So, to avoid surprise tax burden, tax advice needs to be sought before entering into any sort of transaction/arrangement.

Services
  • Transaction/Arrangement structuring to avoid/lessen tax burden within the purview of tax laws
  • Providing opinions on domestic taxation Issues i.e. interpreting of provisions, etc.
INDIRECT TAX

Indirect taxes are levied on goods and services rather than directly on income or profits. These taxes are typically collected by intermediaries, such as businesses or retailers, who then pass on the tax burden to consumers through the pricing of goods and services. Examples of indirect taxes include sales tax, value-added tax (VAT), excise duty, and customs duties. Indirect taxes play a crucial role in generating government revenue and are an integral part of the taxation system in many countries.

Good And Services Tax (GST)

GST, or Goods and Services Tax, is a comprehensive indirect tax levied on the supply of goods and services in India. It replaced multiple indirect taxes at the central and state levels, unifying the tax system across the country. GST aims to streamline taxation, eliminate cascading effects, and create a common market. It impacts businesses of all sizes, transforming the way goods and services are taxed and contributing to the growth of the Indian economy.

GST Compliance

Every registered person needs to file many returns and forms within specified time frame failing of which results in payment of interest and penalties under respective provision of CGST Act, 2017. We have a dedicated GST Team to handle all compliances within due dates.

Our services
  • GST registration
  • Filing of monthly GST returns
  • Filing of final return and annual returns
  • Filing of letters of undertaking
  • Filing of all other Forms and declarations as required under GST law on GST common portal
GST Audit

Every registered person who is required to get his accounts audited under sub-section (5) of section 35 shall furnish the annual return along with a copy of the audited annual accounts and a reconciliation statement certified by a chartered accountant in Form GSTR-9 C.
During the early stages of the introduction of GST a lot of errors might have occurred at the time of filing of GST returns that should be resolved before the filing of an annual return and reconciliation statement in Form GSTR-9 C.
We have a dedicated GST Team who understands various practical challenges, identify common errors and possible resolutions thereof before filing of the annual return and reconciliation statement in Form GSTR-9 C.

Our services

  • Filing and preparation of annual return
  • Preparation of reconciliation statement between books of accounts and annual return in accordance with the GST Law
  • Auditing the books of accounts in accordance with the law
  • Certification of reconciliation statement in accordance with the law
  • Filing of reconciliation statement in Form-GSTR-9C on GST common portal
  • Possible resolutions for errors
GST Representation & Litigation

As per section 116(1) of the GST Act, 2017, any person who is entitled or required to appear before a GST officer appointed under the Act, or the Appellate Authority or the Appellate Tribunal in connection with any proceedings under the Act, may, otherwise than when required under this Act to appear personally for examination on oath or affirmation, subject to the other provisions can appear by an authorized representative.

As per section 116(2) of the GST Act, 2017, the following persons can be appointed as an authorized representative i.e., someone authorized by the person to appear on the person’s behalf:

  • A relative or regular employee; or
  • An advocate who is entitled to practice in any court in India, and who has not been debarred from practicing before any court in India; or
  • Any chartered accountant, a cost accountant or a company secretary, who holds a valid certificate of practice and who has not been debarred from practice; or
  • A retired officer of the Commercial Tax Department of any state government or union territory or of the board who, during his service under the government, had worked in a post not below the rank than that of a Group-B gazette officer for a period of not less than two years: However, such officer shall not be entitled to appear before any proceedings under this Act for a period of one year from the date of his retirement or resignation; or
  • Any person who has been authorized to act as a goods and services tax practitioner on behalf of the concerned registered person.
Services
  • Representation before GST authority with respect to assessment, search and seizure, summons and other notices
  • Representation before Appellate Authority with respect to appeal against order of GST officer
  • Representation before Appellate Authority with respect to revision request against order of GST officer
Advance Ruling

An applicant desirous of obtaining an advance ruling may make an application to the authority stating the question on which the advance ruling is sought. Generally, the can applicant approaches the authority for classification of any goods or services or both, admissibility of input tax credit of tax paid, whether the applicant is required to be registered or not, and for transactions to be undertaken or proposed transactions.

Services

  • We assist the applicant for filing of application.
  • We guide the applicant for preparation of necessary documentation.
  • We help the applicant whether to apply for authority by analyzing each transaction.
  • We represent the applicant before the authority.
Refund GST Advisory & Opinions

In order to encourage foreign trade, exports from the Indian government at both center and state-level have provided refund of GST paid on export of goods and services under the GST regime. We undertake cost benefit analysis, consider all other intricacies and suggest a better refund route.

The process of a refund claim includes the following procedure:

  • Filing of online refund application
  • Suggest system for generation of necessary documentation to prepare refund claim
  • Improve existing system for generation of necessary documentation
  • Assistance in gathering of all supporting documents
  • Preparation of necessary pre-documentation like annexure-A as required by law
  • Reconciliation between ITC claimed and ITC reflecting in GSTR-2A which involves identification of missed credit
  • Continuous follow up with the authorities to grant refund claim
GST advisory & opinions

Since the GST Act specifically excludes only a few transactions, every business transaction requires special attention and needs to be analyzed from a GST perspective.

Services
  • Opinion on transactions to be undertaken by the client
  • Opinion on mergers and acquisition from GST perspective
  • Optimum and proper utilization of ITC
  • Providing value-added and optimal solutions to the client
  • Adherence and compliance with applicable GST provisions
  • Analysis of client specific issue and implication thereof under GST
  • Tax advice for new start-ups from GST perspective
Custom Duty

Customs duty is a tax levied on goods imported into or exported out of India. It includes Basic Customs Duty, Countervailing Duty (CVD), and Special Additional Duty (SAD). Customs duties are administered by the Central Board of Indirect Taxes and Customs (CBIC).

Excise Duty

Excise duty is a tax levied on the production or manufacture of goods within India. It is applicable to goods such as alcohol, tobacco, petroleum products, and certain other manufactured goods. However, with the implementation of GST, excise duty has been subsumed under GST for most products.

Service Tax

Service tax was a tax levied on the provision of taxable services in India. It applied to a wide range of services, including telecommunications, banking, insurance, advertising, and more. With the introduction of GST, service tax has been replaced by GST on services.

Value Added Tax (VAT)

VAT was a state-level tax levied on the sale of goods within a state. It applied to the value added at each stage of production and distribution, with credit available for taxes paid on inputs. VAT has been replaced by State GST (SGST) under the GST regime.