Indirect Tax

Indirect Tax

Despite the various reforms carried out in the past few years, the prevailing Indirect tax regime in India is still in a state of evolution.

Despite the various reforms carried out in the past few years, the prevailing Indirect tax

Despite the various reforms carried out in the past few years, the prevailing Indirect tax regime in India is still in a state of evolution. The system is quite complex, with multi-layered levies both at the Federal and State level. The Federal government levies tax on goods at the point of import (Customs duty), manufacture (Excise duty), inter-state sales (Central sales tax or CST), and on provision of services (Service tax). The states, on the other hand, have been vested with powers to levy tax on sale of goods within the state (Sales tax/Value Added Tax or VAT), and on the entry of goods into the state (Entry tax), under the respective state laws. 

The existing regime requires businesses to undertake careful upfront analysis of the tax costs involved in a transaction¸ ensure adequate backup documentation to support their tax positions and constantly explore opportunities for tax optimization. Further, as India is committed to move towards uniform Goods and Services Tax (GST) regime by April 2016, this needs to be factored in any significant tax approach developed at present.

Our indirect tax professionals with their wide-ranging experience and in-depth knowledge help clients in all of these aspects. We provide advisory services in respect of the state level Value Added Tax (VAT)/Sales tax, Service tax, Custom and Excise duties and Foreign Trade Policy-related matters. This includes services in relation to setting up a green field venture including review of tax assumptions and analysis of tax exemptions/concessions which could be relevant for the project and tax modeling involving analysis of tax costs and credits impacting the business models. We also provide services in relation to setting up of Special Economic Zones (‘SEZs')/SEZ units. 

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Complete Indirect Tax Outsourcing

Indirect tax outsourcing covers excise, service tax, VAT and EOU/SEZ legislations...

 
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Indirect Tax Health Check

Indirect Tax Health Check

Review of company’s data for a sample period from an indirect tax perspective...

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Foreign Trade Policy Assistance

Foreign Trade Policy Assistance

Identify the potential benefits available under a particular FTA/FTP based on the company’s

Entry Level Strategy

Entry Level Strategy

Study and conduct a comparative analysis of incentives available in various states under consideration and to identify the most suitable option

EPC Structuring

EPC Structuring

Identify the probable impact on Erection, Procurement and Construction (EPC) contracts both pre bid/post bid