Goods and Service Tax is undeniably the biggest indirect tax reform in India after the Independence and a rare milestone in terms of constitutional amendments. The concept of the GST is “One Nation One Tax”. GST is a destination-based tax which is effectually levied on value addition only at each stage taking into account the input stage credits of taxes paid by suppliers. GST has made India one unified market and thus final consumer shall bear a unified tax rate on any goods / services across the nation. However, India being a federal structure, two parallel tax authorities are holding administration for tax levy and collection i.e. Central and State. Therefore, Tax compliance and documentation has become very crucial in order to avoid litigations.
Every organisation needs expert and upto date tax law advice in every activity that it undertakes including:
- Daily transactions it effects
- Documentations it maintains
- Enforcing law with every change in its activities
- Entering into long term or short-term agreements
- Keep a good track on its supplier’s tax-compliance.
GST law is very new law and it is bound to evolve with the passage of time. The dual Tax administration interprets strictly the meaning of law and has every right to implement accordingly. Under the indirect law, there is not only dual administration to ensure compliance but it is multilayer monitoring too who often try to identify non-compliance including evasion. Under the self-assessment scheme of tax, an intelligent and consistent endeavour is required for avoidance of any extra payment of taxes or Interest thereon or Penalty. Needless to mention here that such non-compliance and non-adherence of rules and procedures question the survival of taxpayers due to severe impact of financial burden. As such, it would be prudent to engage an expert who can guide them perfectly in order to make him tax-compliant.
Khare Legal Chambers’ Indirect Tax team offers to its clients a one stop solution in terms of:
- Indirect tax litigations: representing the clients right from Adjudication level to Supreme Court
- Tax Compliance and Health Check-up,
- Representing the clients in departmental scrutiny, Audit or Investigations
- Maintenance of tax records provided under the law
- Indirect Tax law advisory
- Tax Due Diligence
- Transaction Advisory (Taxation)
- Any other legal or routine help at any stage