Taxation

Overview

Continuous development and increasing complexities in economic environment lead legislators to bring rapid changes in tax laws. We provide in-depth and well thought advice to our clients. Whether you are thinking for a restructuring of your business or coming to terms with frequent changes in tax regulations, our professional team advice you how to confront and navigate through those situations and provide an accurate and deep insight to meet business needs.

We advise our clients on major developments in taxation regimes occurring periodically and their effect on business. We provide you with effective processes to improve your day-to-day reporting thereby reducing attribution errors, reducing costs and ensuring your taxes are handled correctly.

1. Direct Tax
2. Indirect Tax

1. Direct Tax

1. Corporate Tax Advisory & Opinions :

   We understand the impact of developments in tax and regulatory aspects and strategically use them to the benefit of business activities conducted by you. In today's business world, every transaction/arrangement is subject to income tax. So, to avoid surprise tax burden, tax advice needs to be sought before entering into any sort of transaction/arrangement. Our services include the following:

   • Designing Entry strategy from a tax and regulatory perspective.
   • Tax planning for corporate restructuring, amalgamation, demerger, slump sale, divestures and other major corporate moves.
   • Tax planning strategies for profit and dividend repatriation.
   • Legal opinion on Direct Tax Law and Procedures.
   • Advising on withholding tax obligations on payments.
   • Advice on corrective measures required under different Direct Tax statutes.
   • Providing regular updates on amendments, circulars, notifications & judgments.
   • Advice on structuring remuneration packages for employees and on cost saving opportunities so as to minimise the tax bill in the hands of employees and maximise their take home pay, and also ensure that the entire remuneration is allowed as business expenditure for the employer.
   • Filing Income tax returns for employees of corporate clients.



2. Tax Representation & Litigations Services :

   Representation Services are services wherein we represent the client before the various tax officials regarding their income tax matters. We effectively represent our clients before all layers of tax department which help taxpayers sail through audits and scrutiny by the tax departments easily. We appear and represent in all appeals and other proceedings including:

   • Representation before the tax department with respect to scrutiny, assessments, investigation and other civil cases.
   • Representation before CIT(A) and ITAT.
   • Representation before the Settlement Commission, Authority for Advance Rulings and Dispute Resolution Panel.
   • Liaison with Income tax department for rectification, assessment, obtaining refunds etc.
   • Expertise in complicated direct tax assessments.
   • Filing and pleading appeals under various provisions of IT Act.
   • Special expertise in survey, search, seizure and prosecution litigation.
   • Obtaining No Objection Certificates from Income Tax department.
   • TDS assessment.



3. Tax Compliance Services :

   Efficient maintenance of accounting records, unfettered payroll delivery and timely statutory compliances reduce risks, enable effective financial monitoring and control, and increase efficiency.

   The Tax Compliances & Reporting Services we offer are: -

   • Tax Audits as per the provisions of the Indian Income tax Laws.
   • Filing of Tax Audit Report in Form 3CA / 3CB and 3CD.
   • Preparation and Review of corporate tax returns to ensure compliances with the Income Tax Act, 1961.
   • Payment of Tax On Employment.
   • Monthly compiling of TDS / TCS from client records, timely deposit of taxes, filing of Quarterly E-TDS / TCS returns.
   • Issuing quarterly / annual TDS / TCS certificates.
   • Filing of Correction Statements.
   • Help during tax audit by revenue authorities
   • Obtaining PAN/TAN



4. Certification And Other Related Services :

   Generally, CA certification is required for various purposes under different rules and regulations. Certificates are needed by businesses to claim the privileges available under the law, financial arrangement with the financial institution, benefit and deductions to be claimed under statue and periodical compliance of relevant rules and regulations.

   We undertake consultancy and certification services of the following categories:

   • Opinion on Applicability of withholding tax on various foreign remittances as per Indian Income tax Act / DTAA.
   • Issuing Foreign Remittance Certificates under the various provisions of the Income Tax Act, 1961.
   • We help in seeking of certificates from the income tax department for non/lower deduction of tax at source (TDS).
   • Representations before income tax authorities regarding matters arising out of withholding tax on foreign remittances.
   • Other certificates like Networth Certificate etc as required by various departments.



5. Providing Personal Assistants For Compliance Work :

   We understand that in some of the short assignment how difficult it is to appoint fresh employee, train them for assignment. We provide trained consultant who will work at client's workplace for particular assignment. Our services includes:

   Individual Tax Planning :

   Indian tax law requires a tactical approach and a range of strategies so that you are well positioned for tax savings. Our services include the following:

   • Tax Implication on each Transaction which involve Income element
   • Personal Tax Compliances - Compiling and filing of Tax return
   • Advance tax calculations and deposit on quarterly basis and deposit of self-assessment tax and tax on regular assessments etc.
   • Replying to various Income Tax Notices, getting wrongly raised demand deleted and getting refunds, if any.

2. Indirect Tax

Goods and Services Tax (GST) Law and Custom Tax Law are broadly based on transactions and liability will arise regardless of profitability. With overall indirect tax rates ranging between 5 to 28 percent based on the nature of goods, Indirect Tax exposure can grow quickly if you don’t have a cohesive Indirect Tax plan and firm understanding of specific Indirect Tax requirements.

Gaurav Rathi & Associates can help with timely planning and ongoing compliance solutions to ensure that you are on right side of the law always. Our team can help you develop or refine your Indirect Tax strategy and address the Indirect Tax implications of most types of business transactions.

This will also help you to reduce costs, minimize risk and at the same time increase confidence that nothing has been missed.

1. GST Compliance :

   Every registered person needs to file many returns and forms within specified time frame failing of which results in payment of interest and penalties under respective provisions of the GST Act. We have a dedicated GST Team to handle all compliances within due dates.

   Our services include:

   • Advisory on Taxability of Goods/Services
   • Obtaining GST Registration
   • Filing of Returns
   • Filing of Annual Returns
   • Filing of Letter of Undertaking (LUT)
   • Filing of all other Forms and declarations as required under GST law on GST common portal
   • GSTN Number Verification Services
   • HSN Code Finder
   • Maintenance of Records for Compliance
   • Compilation of Data of Input Tax Credit



2. GST Annual Return & Reconciliation :

   We at Gaurav Rathi & Associates understands various practical challenges, identify common errors and possible resolutions thereof before filing of the annual return and reconciliation statement in Form GSTR-9C by:

   • Filing and preparation of annual return
   • Preparation of reconciliation statement between books of accounts and annual return in accordance with the GST Law
   • Auditing the books of accounts in accordance with the law
   • Certification of reconciliation statement in accordance with the law
   • Filing of reconciliation statement in Form-GSTR-9C on GST common portal
   • Possible resolutions for errors



3. GST Representation & Litigation :

   We represent our clients upon proper authorization to various forums and departments as and when required:

   • Representation before GST authority with respect to assessment, search and seizure, summons and other notices
   • Representation before Appellate Authority with respect to appeal against order of GST officer
   • Representation before Appellate Authority with respect to revision request against order of GST officer



4. Refund, GST Advisory and Opinions :

   In order to encourage foreign trade, from exports, the Indian government at both centre and state-level have provided refund of GST paid on export of goods and services under the GST regime. We undertake cost benefit analysis, consider all other intricacies and suggest a better refund route.

   The process of a refund claim includes the following procedure:

   • Filing of online refund application
   • Suggest system for generation of necessary documentation to prepare refund claim
   • Improve existing system for generation of necessary documentation
   • Assistance in gathering of all supporting documents
   • Preparation of necessary pre-documentation as required by law
   • Reconciliation between ITC claimed and ITC reflecting in GSTR-2A which involves identification of missed credit
   • Continuous follow up with the authorities to grant refund claim, wherever applicable.

   Since the GST Act specifically excludes only a few transactions, every business transaction requires special attention and needs to be analysed from a GST perspective, hence we provide:

   • Opinion on transactions to be undertaken by the client
   • Opinion on mergers and acquisition from GST perspective
   • Optimum and proper utilization of ITC
   • Providing value-added and optimal solutions to the client
   • Adherence and compliance with applicable GST provisions
   • Analysis of client specific issue and implication thereof under GST
   • Tax advice for new start-ups from GST perspective
   • Strategic Business Planning under GST Regime
   • Supplier/Buyer Management
   • GST Consultancy/Advisory on various issues of GST
   • Impact Analysis on Business Segments