Indirect Taxation

  • GST Audit & Annual Return: All taxpayers/taxable persons registered under GST except Casual Taxable Person, Input service distributors and Non-resident taxable persons must file Annual Return. If the annual turnover of a registered taxpayer is more than Rs. 2 crores in a financial year, he is required to get his accounts audited by a Chartered Accountant or Cost Accountant every year under Section 35(5) of the CGST Act, 2017.

Note: Annual Return filing for businesses with turnover up to Rs 2 crore have been made optional for FY 17-18 and FY 18-19. Taxpayers with an annual turnover of less than Rs 5 crores are not required to get their accounts audited by a Chartered Accountant or Cost Accountant for FY 2018-19.

  • Setting up necessary process for compliances: It is of utmost importance to set up a process of maintaining accounts duly as per regulatory requirements and reconciling the Inputs accrued with the Inputs received in due time in a structured manner in order to abide by the increased number of statutory and regulatory compliances in due time in the GST Regime.
  • Advice / structure to optimize tax credits: We provide inputs to achieve tax efficiency for the business by developing an optimum structure to optimize Input Tax Credits.
  • Regular compliances such as payments/ filing returns/ obtaining forms: We provide services in regular regulatory and statutory compliances as per the provisions of Central Goods & Services Tax Act.
  • Assistance in tax assessments/ Departmental Audit/ Special Audit: We provide assistance in tax assessments and other Audits under the CGST Act such as Audit under Section 65 and “Special Audit” under Section 66 of the CGST Act, 2017.In Audit as per Sec.65(1) of the CGST Act,2017 the Commissioner or any officer authorized by him , by way of a general or a specific order, may undertake audit of any registered person whereas Special Audit is undertaken is undertaken by a Chartered Accountant or Cost Accountant, nominated by Commissioner.
  • Assistance/ representation before tax department / authorities: Along with compliances, we provide services of representing clients before Tax Authorities for assessment, settlement and appeal along with handling other Departmental matters such as drafting reply to notice/ query/ enquiry from department.
  • Assistance and Advisory in Claiming Refunds under GST and other Indirect Taxes:  We provide assistance to clients in claiming refunds under the CGST Act as well as other Indirect Taxes.

Presently, the following types of refunds under GST are processed electronically:

a. Refund of unutilized input tax credit (ITC) on account of exports without payment of tax;

b. Refund of tax paid on export of services with payment of tax;

c. Refund of unutilized ITC on account of supplies made to SEZ Unit/SEZ Developer without payment of tax;

d. Refund of tax paid on supplies made to SEZ Unit/SEZ Developer with payment of tax;

e. Refund of unutilized ITC on account of accumulation due to inverted tax structure;

f. Refund to supplier of tax paid on deemed export supplies;

g. Refund to recipient of tax paid on deemed export supplies;

h. Refund of excess balance in the electronic cash ledger;

i. Refund of excess payment of tax;

J. Refund of tax paid on intra-State supply which is subsequently held to be inter-State supply and vice versa;

k. Refund on account of assessment/provisional assessment/appeal/any other order;

l. Refund on account of “any other” ground or reason.Assistance in Industrial Policy of Government: We have been assisting our clients in obtaining various incentives such as reimbursement in different Industrial Policies of Government.