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 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 a uniform Goods and Services Tax (GST) regime by 2010, this needs to be factored in any significant tax strategy developed at present.

Our indirect tax specialists provide advice on any indirect tax matter or problem often producing savings when none may have seemed possible. We provide advisory services in respect of 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.

Indirect tax ‘health check’

We provide a one-time review of the comprehensive indirect tax compliance and positions taken by clients in their day-to-day functioning. Our services not only include risk assessments and evaluations but also highlight potential areas of exposure that may be encountered by businesses (compliance as well as structure of operations). We systematically share best practices and industry knowledge to ensure our ideas and solutions address client concerns.