Indirect Taxation

Overview

Despite the numerous reforms implemented over the last few years, India’s current indirect tax system is still in the development stage. It consists of a vast array of federal and state laws, rules, and regulations. In its current form, it presents special organisational issues for businesses and frequently has a big impact on cash flow, total costs, and risk exposures. The government is constantly working to improve the assessee-friendliness of the indirect tax laws. Our team of specialists at J J J and Company LLP is committed to provide multifaceted professional services in a range of indirect tax laws. Our team provides with the insight and assistance one need to manage indirect taxes more skilfully and successfully.

India’s indirect tax system is characterised by rapid updates, which businesses must immediately embrace. It necessitates the help of experts who can assess how those changes will affect the company and possibly help with proper implementation. We offer legal advice on indirect tax regulations, as well as consulting services, to assist you in implementing best practises in your company. Additionally, it lessens the likelihood of conflict with tax and compliance authorities.

To ensure compliance with all statutory responsibilities, including acquiring registration, amending a registration certificate, filing a return, paying taxes, claiming a credit, creating documents, maintaining records, etc., you can outsource your whole indirect tax department. We will make sure that all statutory requirements are fulfilled by the deadlines. Indirect taxes are handled properly, costs are decreased, and attribution errors are decreased as a result. You won’t have to worry about following various indirect tax laws.

In the course of doing business, some activities may emerge that are illegal or conflicting with the law. It necessitates the assistance of experts who can examine corporate procedures from a taxation standpoint. We provide services such as thorough analyses of business operations to determine compliance levels, evaluate risks, and uncover opportunities for cost reductions. We provide you efficient procedures to enhance your daily indirect tax reporting. In the event of a corporate merger, demerger, or restructuring, we also do indirect tax due diligence.

The Indian government has long followed a strategy of not exporting domestic taxes with export merchandise and of making such merchandise competitive in international markets. It can be accomplished in a variety of ways, including exempting the item from paying GST or duties, refunding the GST, and receiving numerous other benefits under the FTP. Regarding this, we offer the following services:

1) Applying for LUT.

2) Duty and interest refunds in accordance with Section 27 of the Customs Act.

3) A 4 percent SAD refund.

4) Refund of GST for sales to SEZ units without LUT.

The process for applying for the aforementioned advantages is always changing because the government frequently updates the legislation by issuing new notifications or amending existing notices for refunds, etc. We have found that it is quite challenging for small and medium-sized businesses, particularly those in rural areas of the nation, to comprehend the aforementioned benefits, maintain track of changes taking place there, and eventually succeed in receiving a refund or rebate. In order to claim a refund, rebate, or any other benefits allowed under indirect tax law, we offer a complete solution. We help with selecting the best advantages, putting together the necessary paperwork, filing the claim, following up with the tax authorities, and providing additional legal support in the event that refund claims are rejected. We ensure that you receive all legal benefits provided to you by indirect tax law.

When revenue officials audit your taxes, we assist you. We offer support with business tax disputes, including advocacy before various revenue and appellate bodies. At various points, we respond to taxman’s challenging queries.

Planning and transaction structure are necessary for business start-up and growth in order to minimise indirect tax incidence overall. Planning effectively helps lower compliance costs and total tax burden. Our specialists can help in locating possible risk areas and sustainable planning opportunities in the larger business situation thanks to their extensive expertise and in-depth knowledge. We provide strategic consulting services that include transaction structure, contract drafting, and documentation evaluation. We also help with overall system architecture and Standard Operating Procedures (SOP) creation, which incorporate any ramifications resulting from different Indirect Tax regulations.

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