Taxation presents arguably the most dynamic and complex challenge in the context of financial planning. Ever changing legislation and rules are matched only by the new methods devised to make the discharging of tax liabilities as efficient as possible. We prefer to take a proactive vs. reactive approach to tax services. As Indian economy is transforming into a developed economy, we, by keeping current on new tax laws and legislation, are in a position to identify key tax planning opportunities that minimize both your current and future tax liabilities. We provide our individual and business clients with the taxation expertise and knowledge that they desire throughout the year. Tax services offered include:

Direct Taxation

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 prescribed limits from business/profession.

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

Tax Management /Compliance

• E filing of TDS Returns.
• Preparation & Filing of IT Returns.
• Compliances related to advance Tax.

Tax Representation & Litigation

• 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.

Tax due diligence

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.

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.

• 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.

Certifications

Certification works required under various provisions of Income Tax Act. *Form 15CA/15CB

Certificate for foreign remittance to be made by resident in India to foreign entity outside India u/s 195 of the Income Tax Act, 1961.

Indirect Taxation

GST is an Indirect Tax which has replaced many Indirect Taxes in India. The Goods and Service Tax Act was passed in the Parliament on 29th March 2017. The Act came into effect on 1st July 2017; Goods & Services Tax Law in India is a comprehensive, multi-stage, destination-based tax that is levied on every value addition.

In simple words, Goods and Service Tax (GST) is an indirect tax levied on the supply of goods and services. This law has replaced many indirect tax laws that previously existed in India.

GST Compliances

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.

• 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 ANNUAL RETURNS & RECONCILAITION (GSTR 9 & 9C)

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.

• Filing and preparation of annual return.
• Preparation of reconciliation statement between books of accounts and annual return in accordance with the GST 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

• 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.

GST REFUND-ADVISORY

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<./li>
• 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

• 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.