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Indirect Tax

Goods & Services Tax (GST)

Since its introduction in July 2017, GST has become the largest source of revenue generation for the Government. A truly path breaking reform, GST was introduced by subsuming other Indirect Taxes such as VAT, Excise, etc. in order to minimize the cascading effect of taxes.

While on the one hand the procedures have, over the years, been simplified and harmonised, with the passage of time, there has been a gradual but continuous increase in litigation.

Since the entire procedure has been computerized and automated, there is no room for making any errors, as it would entail adverse financial implications for the business. Further, in a scenario where the GST laws are still evolving, with clarifications and amendments coming intermittently, it is imperative for all businesses to be abreast of all these changes.

The automation of the process for complying with GST has, in turn, put the onus on businesses to automate the process for capturing of GST related information so that it is harmonious with the compliance process laid down by the authorities.

We have a highly efficient team that is equipped to provide our clients, end-to-end services on GST.

Our service range covers the following:

Advisory

Structuring of transactions, for optimizing the incidence of GST within the overall framework of the applicable laws;
Reviewing existing processes for GST compliances and suggesting improvements so as not only improve compliance but also optimise the process that will result in saving of effort, time and costs;
Giving opinions on any GST related issues;
Giving advice on various aspects relating to GST such as registration, place/ time of supply, valuations (including for related party transactions), applicable tax rate, eligibility/ reversal of ITC and its optimization, without transgressing the GST law, applicability of reverse charge mechanism, computation of GST, etc.

Compliance

Obtaining State-wise GST registrations;
Providing automated GST solutions for monthly compliances;
Preparation of tax invoices in conformity with GST Laws, correspondence with clients and addressing queries on invoicing from customers;
Preparation and uploading of all returns;
Preparation and uploading of refund applications;
State-wise GST Audits.

Litigation

Preparation of responses to departmental audits/notices/refund applications, preparation of documents related to appeals, as also appearing before the authorities in relation to any of the foregoing.

Other Services

Review of entire GST profile of the entity for ascertaining the status of applicable compliances under GST;
Due diligence reviews from an indirect tax perspective in transactions of merger, de-merger, slump sale and more;
Conducting customized training workshops for clients to address their specific needs.

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