In India, some of the significant indirect taxes are Custom Duty, Central Excise Duty, Central Sales Tax, Service Tax (at the Federal level), and Value Added Tax and Entry Taxes (at the State level). Since indirect taxes have a direct impact on the pricing of products and services, businesses need to analyse and determine the applicability of various indirect taxes to their products, processes and services.
The proposed switchover to a more comprehensive Goods and Service Tax regime (expected from July 2017) will be a paradigm shift from the present tax setup, and is going to change market dynamics significantly in an integrated nation-wide marketplace. This tax change will also redefine competitive capabilities, as present decisions around physical flows (of goods and services), fiscal flows and information flows will need to be revisited under the new parameters. This switchover will have two distinct elements - the migration, and the re-optimisation.
At Dhruva, we offer comprehensive indirect tax advisory, compliance, and operational support as well as litigation services to assist businesses. Our indirect tax advisory service offering includes diagnostic reviews/health checks, due diligences, determination of applicable taxes and availability of tax benefits/exemptions, review of contracts, advising on tax optimal structures for contracts, analysis of applicability of schemes in the Foreign Trade Policy and setting up and operationalising EOUs, STP units or SEZ units, etc.
The systematized compliance services and operational support offered by Dhruva encompasses various activities such as obtaining registrations and licenses, filing of returns, audit support, Customs Special Valuation Branch proceedings support and assistance in refund applications. We also assist in preparing replies / responses to show cause notices, issues raised under Excise Audit, routine enquiry letters, assistance in preparation / filing of application for determination of disputed questions (DDQ), assessment proceedings as well as assistance in summons proceedings. On the litigation side, our services include drafting, filing and arguing appeals before various appellate authorities and assistance in filing writ petitions and briefing counsel for hearings before Tribunal, High Courts and the Supreme Court.