The Indian indirect tax regime is beset with multiplicity of laws which are also constantly evolving through legislative action, departmental clarifications and judicial decisions. Further, the regime is on the verge of being placed with a more integrated system in the form of the proposed Goods and Services Tax (‘GST’). These features, coupled with the overall increased rigour in tax administration and the possible re-alignment of existing exemptions and incentive schemes result in the creation of a complex tax environment for companies operating or proposing to set up operations in India.
Our Indirect Tax Service offerings are tailored to assist companies in meeting the challenges that such an environment throws up. Consisting of an extensive leadership group of partnersdirectors, our professionals are engaged in advising both multinational and domestic companies on various aspects impacting business, management of tax risks and in dealing with tax controversies. More specifically, we have advised companies on entry and set up strategies including the location linked tax benefits, effective use of Free Trade Agreements, optimum set-up of supply chain management and the taxes linked to creating and management of physical infrastructure.
During the more operational phase of businesses, we have advised companies on effectively dealing with the changing laws and in re-aligning or re-structuring operations; we also advise companies on the resultant impact on sourcing patterns, pricing strategies etc and provide on call support on tax advisory, assistance in tax compliances ranging from tax computations, preparation and filing of returns, assistance with documentation requirements to support the planning and positions adopted and representations during the revenue audit and assessment procedures.
Another increased area where we asist companies is in dealing with tax controversies; with the relative lack of clarity in some of the laws and the increased need for revenue collection, there has been a spate of tax investigation and recovery proceedings that have been initiated by the Revenue and we assist companies in dealing with these proceedings including in managing the litigation at appellate levels such as the Tribunal and High Courts. These services are provided in close co-ordination with, or by, the Firm’s Tax Controversy Group.
Our leadership team includes professionals with many years of experience either in tax accounting firms, in corporate tax functions and the Revenue administration. With this combined capability, we are able to track all developments in law and tax administration and provide solutionsofferings that are also easily implementable.