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JJJ And Company LLP

JJJ And Company LLP

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Indirect Taxation

Overview

Despite the various reforms carried out in the past few years, the prevailing Indirect tax regime in India is still in the state of evolution. It comprises plethora of laws, rules and regulations at the central and the state level. At its present structure, it poses unique challenges to business organisation and often have significant impacts – on cash flow, absolute costs and risk exposures. The Government is striving continuous changes in the Indirect Tax Laws to make it more assessee friendly. Proposed implementation of GST is an active step to integrate all indirect tax laws (Central Excise Duty, Customs Duty, Central Sales Tax, Value Added Tax (VAT) and Service Tax) under one law. In this direction, major step has been taken by introducing Negative List based Service Tax Regime which is being considered as significant move towards smooth transition to GST. We, at J J J And Company LLP, have dedicated team of experts providing multidimensional professional services in various Indirect Tax Laws. Our team gives you the perspective and support to manage indirect taxes more effectively and efficiently.

ADVISORY AND OPINIONS

Indirect Tax in India is characterised with frequent changes and modifications which need to be adopted by business instantaneously. It requires assistance of professionals who can analyse the impacts of those changes on the business and may assist on their proper implementation. We provides legal opinions and consultancy on Indirect Tax laws which helps you to implement best practices in your business. It also reduces possibility of confrontation with the revenue authorities on taxation and compliance issues.

COMPLIANCE OUTSOURCING AND OTHER BUSINESS SUPPORT

You can outsource your entire Indirect Tax department to ensure compliance of all statutory obligations i.e. obtaining registration, amendment in registration certificate, filing of return, payment of taxes, taking of credit, documents generations, record keeping etc. We will ensure that all statutory obligations are discharged within due dates. It results in reducing attribution errors, reducing costs and ensuring indirect taxes are handled correctly. You will be from your worries to comply with different indirect tax laws.

INDIRECT TAX REVIEW

Certain practices may be developed in the ongoing business which may be inconsistent/non-compliant with the law. It requires assistance of professionals who can review the business practices with taxation perspectives. We offer services of comprehensive reviews of business operations to identifying compliance levels, assessing risks and avenues for cost savings. We provide you with effective processes to improve your day-to-day reporting for indirect tax. We also carry out indirect tax due diligence in case of corporate merger/demerger/restructuring.

MULTI STATE GST AND ERSTWHILE VAT/SALES TAX COMPLIANCE

Since, enactment of Goods and Service Tax (GST), VAT/sales tax in India has mostly been abolished pending assessments in respective states and GST has been implemented making it possible for the assessee’s to manage compliance of all the states from one place thereby maintaining the records and more efficiently at one place. However, it is very difficult for a business man to learn and keep track of all the compliances for multi-state locations and also the documentations for the respective regions at once, further continuance amendments in the GST laws make it very difficult for multi location company to comply with in time bound manner with optimum utilizations of available benefits. We have dedicated team of experts and proper infrastructure facilities to provide one stop solutions to comply with GST compliances across the country. However, for assessments that will take place and for compliance of the notices it obviates need to appoint consultant separately for each of the states. It would reduce communication gap, provide expert hand and save time & cost with optimum productivity. Ultimately bringing peace of mind to your taxation department

REFUND AND REBATE

It has been long term pursued policy of government of India not to export domestic tax along with export goods and to make such goods competitive in the foreign market. It can be done in many was i.e. exemption from GST/duty payment,

  1. Applying for LUT.
  2. Refund of duty /interest under section 27 of the Customs Act.
  3. Refund of 4% SAD.
  4. Refund of GST for sales without LUT to SEZ unit.

 
There are continuous changes in the manner of claiming above benefits as the government frequently amends the law by issuing new notifications/amending existing notifications for refund etc. We have observed that it is very difficult for small and medium scale enterprises especially located in the remote area of the country to understand above benefits, keep track of changes happening therein and ultimately succeeding in getting refund/rebate. We provide end to end solution in claiming of refund/rebate or any other benefits admissible under Indirect Tax law. We assist in evaluating the most suitable benefits, preparation of documentations; filing the claim, follow up with tax authorities and further legal support in case refund claims are denied. We make sure you are not deprived of any legitimate benefits available to you under indirect tax law.

REPRESENTATION

We help you during tax audit by revenue authorities. We provide corporate tax litigation assistance including representation service before various revenue and appellate authorities. We answer tricky questions from taxman at different stages.

STRATEGIC CONSULTING

Start up and expansion of business requires planning and structuring of transactions to optimise overall Indirect Tax incidence. Proper planning assists in reducing compliance cost and overall tax burden. Our experts with their wide experience and in-depth knowledge provide assistance in identifying potential risk areas and sustainable planning opportunities in the overall business scenario. We offer strategic consultancy involving structuring of transactions, designing of contracts and review of documentations. We also assist in designing overall system and preparing Standard Operating Procedures (SOPs) incorporating implications arising under various Indirect Tax laws.