Overview

Despite various reforms over the past few years, the prevailing indirect tax regime in India remains in a state of evolution. It comprises a plethora of laws, rules, and regulations at both the central and state levels, posing unique challenges to business organizations and significantly impacting cash flow, costs, and risk exposures. The government continuously strives to make the indirect tax laws more assessee-friendly. The proposed implementation of GST is a significant step toward integrating all indirect tax laws (Central Excise Duty, Customs Duty, Central Sales Tax, Value Added Tax (VAT), and Service Tax) under one umbrella. Notably, the introduction of the Negative List based Service Tax Regime is considered a pivotal move towards a smooth transition to GST. At KSV, our dedicated team of experts provides multidimensional professional services in various indirect tax laws, offering the perspective and support needed to manage indirect taxes effectively and efficiently.

Advisory and Opinions

India’s indirect tax landscape is characterized by frequent changes and modifications, requiring businesses to adapt instantly. Our team of professionals offers legal opinions and consultancy on indirect tax laws, helping you implement best practices in your business and reducing the possibility of confrontations with revenue authorities on taxation and compliance issues.

Compliance Outsourcing and Other Business Support

Outsource your entire indirect tax department to ensure compliance with all statutory obligations, including obtaining registration, amending registration certificates, filing returns, paying taxes, taking credits, generating documents, and maintaining records. Our services ensure that all statutory obligations are met within due dates, reducing attribution errors, costs, and ensuring that indirect taxes are handled correctly, freeing you from the worries of complying with various indirect tax laws.

Indirect Tax Review

Ongoing business practices may develop inconsistencies or non-compliance with the law. Our professionals offer comprehensive reviews of business operations to identify compliance levels, assess risks, and uncover avenues for cost savings. We provide effective processes to improve day-to-day indirect tax reporting and conduct due diligence in cases of corporate mergers, demergers, or restructuring.

Multi-State Sales Tax

VAT/sales tax in India is state-level and varies across states. Keeping track of all statutes and amendments is challenging for businesses, especially those operating in multiple locations. Our dedicated team of experts provides one-stop solutions to comply with VAT laws nationwide, eliminating the need to appoint separate consultants for each state, thereby reducing communication gaps, saving time and costs, and ensuring optimal productivity.

Refund and Rebate

The Indian government aims to prevent the export of domestic taxes along with goods, ensuring competitiveness in foreign markets through exemption from duty payment, refunds, and rebates. However, the process for claiming refunds under indirect tax laws is complex and frequently changing. We provide end-to-end solutions for claiming refunds or rebates, including evaluating suitable benefits, preparing documentation, filing claims, following up with tax authorities, and offering legal support if claims are denied. We ensure you receive all legitimate benefits under indirect tax law.

Representation

We provide corporate tax litigation assistance, representing clients before various revenue and appellate authorities during tax audits and answering questions from tax authorities at different stages.

Strategic Consulting

Starting and expanding a business requires strategic planning and structuring of transactions to optimize overall indirect tax incidence. Our experts, with their extensive experience and in-depth knowledge, assist in identifying potential risk areas and sustainable planning opportunities. We offer strategic consultancy services, including structuring transactions, designing contracts, reviewing documentation, and preparing Standard Operating Procedures (SOPs) to incorporate implications arising under various indirect tax laws.

DIRECT TAX

Overview

Continuous developments and increasing complexities in the economic environment lead legislators to implement rapid changes in tax laws. We provide in-depth and well-thought-out advice to our clients by analyzing these changes. Our professionals, acting as “trusted advisors,” are crucial in helping you navigate business restructuring and frequent changes in tax regulations. We offer accurate and deep insights to meet your business needs.

We keep our clients informed about significant tax regime developments and their impacts on business. Our multi-disciplinary tax team assists with corporate tax advisory and comprehensive tax planning.

Corporate Tax Advisory

Indian Income-Tax Law can be perceived as complex, especially with the introduction of concepts like Indirect Transfers and GAAR. We help you understand and strategically leverage these developments for your business activities. Our services include:

1) Designing entry strategies from a tax and regulatory perspective.

2) Tax planning for corporate restructuring, amalgamation, demerger, slump sale, divestitures, and other major corporate actions.

3) Tax planning strategies for profit and dividend repatriation.

4) Providing legal opinions on Direct Tax Law and procedures.

5) Advising on withholding tax obligations on payments.

6) Recommending corrective measures under different Direct Tax statutes.

7) Structuring remuneration packages to minimize tax liability for employees while maximizing take-home pay, and ensuring the remuneration is deductible as business expenditure for the employer.

Global Tax and Business Advisory

Globalization requires companies to align their global tax strategies with their overall business objectives to remain competitive and provide shareholder value.

Our partnerships with international tax professionals help you manage your global tax burden by identifying opportunities, managing global tax risks, and meeting cross-border reporting obligations. Our services include:

1) Structuring to minimize tax liability for foreign companies and non-resident entities investing in India.

2) Structuring payments under the provisions of the Income Tax Act and Double Taxation Avoidance Agreements (DTAA) to minimize tax liability.

3) Developing inbound and outbound investment structures that ensure tax efficiency during the investment period and at the time of exit.

Representation Services

Our Representation Services involve representing clients before various tax authorities regarding their income tax matters. We appear in all appeals and other proceedings, including those before the Income Tax Appellate Tribunal, Settlement Commission, and Authority for Advance Rulings (AAR), as well as the Dispute Resolution Panel (DRP). We effectively represent clients at all levels of the tax department, helping them navigate audits and scrutiny smoothly.

Transfer Pricing

Establishing a transfer pricing policy ensures certainty in inter-company transactions and mitigates transfer pricing risks. Before engaging in international or specified domestic transactions with associated enterprises, it is crucial to evaluate, structure, and plan these transactions considering the tax impact.

Our team of specialists in accounting, taxation, and law allows us to handle transfer pricing matters effectively and innovatively. Our services include:

1) Transfer pricing planning.

2) Documentation.

3) Preparing transfer pricing study reports.

4) Litigation support.

5) Advising on all relevant matters.

Tax Compliance Services

Efficient maintenance of accounting records, timely payroll delivery, and statutory compliance reduce risks, enable effective financial monitoring and control, and increase efficiency.

Our Tax Compliance and Reporting Services include:

1) Conducting tax audits as per Indian Income Tax laws.

2) Preparing and reviewing corporate tax returns to ensure compliance with the Income Tax Act, 1961.

3) Managing tax payments on employment income.

4) Monthly compilation of TDS from client records, timely deposit of taxes, filing of quarterly E-TDS returns, and issuance of annual certificates to vendors.

5) Assisting during tax audits by revenue authorities.

6) Obtaining PAN/TAN.

Certification and Other Related Services

We provide consultancy and certification services for making foreign remittances according to Section 195 of the Income Tax Act, 1961, or as per DTAA. We also assist in obtaining lower TDS certificates from the Income Tax Department.

These services include:

1) Providing opinions on the applicability of withholding tax on various foreign remittances as per the Indian Income Tax Act or DTAA.

2) Issuing foreign remittance certificates under various provisions of the Income Tax Act, 1961.

3) Assisting in obtaining certificates from the income tax department for non/lower deduction of tax at source (TDS).

4) Representing clients before international taxation authorities regarding withholding tax on foreign remittances.

Providing Personal Assistants for Compliance Work

For short assignments, we understand how challenging it can be to hire and train new employees. We provide trained consultants who work at your workplace for specific assignments. Our services include:

Individual Tax Planning

Indian tax law requires a strategic approach to maximize tax savings. Our services include:

1) Assessing the tax implications of transactions involving income.

2) Ensuring personal tax compliance by compiling and filing tax returns.

3) Calculating and depositing advance tax quarterly, and managing self-assessment tax and regular assessment tax payments.

4) Responding to income tax notices, resolving incorrect demands, and securing refunds if applicable.