As governments around the world look to raise additional revenues to plug shortfalls, many governments have shifted away from corporate, income, and payroll taxes. Instead, they’re raising revenue through ‘indirect taxes’, such as value added tax (VAT), goods and services tax (GST), sales and local taxes, customs and excise duties, and so on. Proof of this trend can be seen with the well planned introduction of GST in India in 2017 and VAT in the Gulf States.
Indirect Taxation comprises a plethora of laws, rules, and regulations at the central and the state level which needs to be adopted by business instantaneously. At its present structure, it poses unique challenges to business organizations and often has significant impacts on cash flow, absolute costs and risk exposures.
Poor indirect tax management can squeeze cash flow, allow the over or underpayment of tax and attract stiff penalties for non-compliance.
Our Team provides comprehensive advice and assistance on service tax, customs laws & Foreign trade policies, VAT, Foreign Trade policies and Goods and Service Tax.
Our services related to indirect taxes include:-
- Indirect Tax Advisory
- GST/VAT compliances
- GST Annual Compliances – Audit/ Annual
- Assessments, audits & appeals – VAT, Service Tax, Custom laws & GST
- GST Review/ Internal Audit
- DGFT related matters – Special Valuation Branch (SVB matters) & Export benefits