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Indirect Taxes

In the past,India had multiple indirect taxes like VAT, Central Excise, Service Tax, CST etc. Some of thesetaxes were collected by Central Government and others by State Governments. With different tax administrators for different tax levies, the interplay between these taxes assumed importance.

We at Asire provide a wide variety of services such as:

  • Advising on valuation, rate, classification and other aspects
  • ssisting entities in audits and enquiries by tax department

Assisting in drafting of replies and appeals & appearance before tax authorities
at adjudication and appellate levels including Tribunals and Higher Courts and Settlement Commissions

Goods and Services Tax (GST)

Goods and Services Tax (GST) is the most prevalent indirect tax across the globe. In 2017, India adopted GST which has replaced a plethora of indirect taxes.The reform aimed at ‘One Nation One Tax’. The new tax regime minimised cascading of taxes and allowed seamless flow of credit in the supply chain.

We at Asire offer a wide variety of services in GST to businesses such as:

  • Assisting companies in transition and advising on GST implications for setting-up of new entities.
  • Assisting entities in undertaking anti-profiteering studies to determine amount and manner of passing commensurate benefit.
  • Undertaking due diligence, health check-upsand tax reviewsfor identifying missed opportunities and highlighting protentional tax issues.
  • GST advisory on various issues such as classification, valuation, cross-charge, exports, job work, reverse charges etc.
  • Advising on contracts, bids, tenders at pre-bidding stage; drafting and negotiation of contractual clausesand negotiation with vendors.
  • Assisting in department audits and departmental enquiries.
  • Complete handholding for drafting and appearance in tax disputes at adjudication and appellate levels including Tribunals and Higher Courts, and Settlement Commissions.
  • Obtaining Advance Ruling on various issues under GST.
  • Assisting entities in filing and pursing refund claims for inverted duty structures and exports before competent authorities.
  • Undertaking compliances on Pan India basis such as obtaining registration, filing period returns, filing annual returns, reconciliation of input tax credit etc.
  • Undertaking GST audits on Pan India basis.
  • Undertaking training for various external and internal stakeholders of the entity.
  • Assisting in upgradation of IT systems to comply with desired tax objectives

Customs Law & EXIM advisory

Customs Law provides for taxation of cross-border trade of goods. Over the years, administration of Customs Law has been simplified and the customs rates have been significantly reduction. Customs Tariffs across the globe are aligned with HSN published by Worlds Customs Organisation and therefore, tax positions in customs may have a global level impact.

We offer a wide variety of services including customs valuation, classification, Free Trade Agreements, applicability of exemption, procedural compliances etc., such as

  • Advisingon classificationof goodsunder the Harmonised System of Nomenclature (HSN)
  • Customs valuation and assistance in investigation of related party transactions by the Special Valuation Branch (SVB)
  • Identifying and obtaining various export incentives and authorisations such as SEIS, MEIS, advance authorisation, EPCG etc.
  • Drafting of replies to show cause notice, appeals and appearance before departmental authorities and appellate forums
  • Advising on allied laws such as Food Safety, Drugs & Cosmetics Act, Packaged Commodities Rules, etc. in the context of cross-border trade

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