Central Excise & Service Tax
Assistance in arriving at proper assessable/taxable value of goods/services.
- Help clients in computation of assessable value/transaction value of excisable goods/services in order to calculate correct amount of tax liability.
CENVAT Credit/refund of Input/Input Services used for providing export services/goods.
- Assist clients in making application for availing CENVAT Credit or refund of CENVAT Credit, input & input services used in manufacture of final goods or providing taxable services.
Consulting on the maintenance of prescribed records.
- Assistance to clients regarding the proper maintenance of various necessary documents & records relating to central excise, service tax and VAT.
Minimization of Central Excise & Service Tax Liability.
- Developing tax minimization strategies to meet client’s business needs. We provide advisory assistance to optimize the impact of central excise & service tax liability on the organisation.
Advisory Service on the issues relating to Central Excise & Service Tax.
- Handling various requirements of clients in respect of Central Excise & Service Tax.
Advise on taxability of a service and classification thereof.
- Due to frequent changes and amendments, assessees are unaware or ignorant of service tax laws, so we assist clients in understanding the various classifications & chargeability of service tax.
Assistance during Audit.
- Sometimes there are cases where assessee deliberately evades payment of service taxes or are unaware of service tax laws which leads loss of revenue for government department for which service tax audit is a must. We assist clients in handling central excise/service tax audit which is always been considered diificult for the assessee due to its complicated legal structure.
Advisory Service on EPC contracts.
- EPC contract is popularly known as Engineering, Procurement and Construction contract. It is mostly used in thermal power projects, infrastructure & construction industries. An EPC Contract in India is impacted by Indirect taxes. We assist clients in structuring tax efficient bid/notice inviting tender, obtaining registration & approvals, identification of benefits & exemptions.
- Tax optimization opportunities on EPC contracts and managing and structuring EPC contracts efficiently.
Value Added Tax
Rendering advise to minimize the global VAT incidence.
- We develop tax optimization strategies to meet client’s business needs. We provide advisory assistance to reduce the impact of Value added tax liability on the Organization.
Rendering assistance in VAT Registration.
- We provide necessary guidance to clients in obtaining registration under Central Sales Tax Act and respective state VAT Act.
Assistance in claiming Input Tax Credit.
- The essence of VAT is in providing set off for tax paid earlier & this is given effect through the concept input tax credit/rebate. We help clients in claiming the input tax credit and setting off the amount of input tax against the amount of output tax.
Advise on legal aspects of VAT.
- Help clients in identifying various exemptions, restrictions & obligations under VAT Law.
Rendering advisory service on the wide range of issues in relation to tax invoice & retail invoice.
- Two types of invoices can be issued i.e. Tax Invoice & Retail Invoice. While Tax Invoice can issued by one registered dealer selling goods to another registered dealer, Retail invoice can be issued by a registered dealer for all sales for which tax invoice cannot be issued.
- We assist client’s corporation in identifying and reviewing all potential tax exposures that might arise from a transaction, verify the correctness of tax treatment towards certain transaction and to reduce tax risks and gain future tax optimization.
Advisory service on import and export
- Advising clients in respect to various tax matters in respect of import & export custom clearance & other trade related issues.
Optimization of custom duty savings through appropriate classification.
- Advising the clients in proper tariff classification of goods, the interpretation or application of Custom Tariff and in minimizing their duty liabilities.
Assisting in exploring various exemption & incentive schemes.
- Help clients in identifying and utilizing the benefits from various import & export custom duty exemption & incentive schemes.
Providing innovative but rigorous tax planning ideas.
- Assisting in identifying various tax strategies to help clients in reducing tax & duty liability/burden.
- Providing assistance on a wide range of custom procedure and its documentation requirements including import & export of goods, clearance of imports, warehouses/bonding, etc.
Indirect Tax Review
Examine applicability of Indirect Taxes.
- Assisting the clients identifying the areas where VAT, Customs, Excide Duty & Service Tax will be applicable & chargeable.
Examine eligibility of tax credits & report benefits (as applicable).
- Identifying whether clients are eligible to avail various tax credits and if they are, the benefits they can obtain on availing them from tax minimization and optimization viewpoint.
Review statutory returns/records and documentation.
- Examine whether Indirect Tax Returns are properly filed and the necessary documents and records in respect of Indirect tax are properly maintained by the clients on
Identifying procedural lapse in relevant areas.
- Examining whether there any defects in complying with various tax legislations and the consequences & restrictions that can arise.
Identifying tax exposures & inefficiencies.
- Helping clients to Identify and mitigate exposures to tax risks and developing a suitable tax risk strategy.
Detailed exception report outlining observations.
- Preparation of exception report in respect to indirect tax which outlines the various tax & duty variances that have taken place.
- Review pending litigation matters & report exposure/disputes.