Our services include unique solutions like:
Ambit of Indirect taxes is widening in terms of breadth as well as depth. Gradually, exemptions are vanishing and more and more goods as well as services are getting covered in the tax net. Also, the complexity and compliance requirements coupled with departmental enquiries are increasing day by day. In such a scenario, Corporates do require a strong and reliable support to provide the knowledge, clarity and solutions.
To provide solutions to the above, GSC has developed a variety of customised Corporate retainership plans to take care of compliances such as registrations, payments, records, returns, etc. and consultancy related requirements of Corporates including adjudication, assessments, audits, appeals. Client-friendly approach of GSC has always been a point of appreciation by our existing retainership clients.
Many a times, due to complexity in tax statutes, certain transactions attract multiple indirect taxes. Normally, the cost component of Indirect taxes in a transaction could be ranging from 5% to 18% of the gross turnover. Proper planning can help minimizing the multiplicity and volume of taxes. On the top of it, with the help of appropriate structuring, the value which is subject to tax can be minimised. The proper planning of structure can not only help Corporates to keep away avoidable taxes but also helps them optimize tax credits/incentives.
GSC possesses a wide and rich exposure of having dealt with multiple sectors and taxes. Single transaction is analysed from all possible slant with a holistic approach. High success ratio of GSC has built confidence amongst the clients. GSC, having a consulting background and specialising only in indirect taxes, is uniquely placed to provide efficient tax optimization consultancy.
With the introduction of GST, indirect taxes have become omnipresent in almost each and every business transactions. It is important to know the implications of such indirect taxation beforehand so as to take vital business decisions. Also, it helps to avoid undue penal consequences.
GSC provides opinions/notes on the applicability of taxes, availability of exemptions/concessions and conditions thereof, compliances to be undertaken, etc. GSC has a core competence in providing right advice at right time.
To ensure tax discipline, it is essential to develop best corporate practices. With the help of Indirect tax corporate trainings, the workforce of different levels can gain knowledge and gets motivated to achieve the highest level of compliances. Adequate and proper training leads to reduction in time involvement and risk of seniors, avoidance of chaotic conditions, bridging the compliance gaps and therefore, avoidance of unwarranted penalties/ loss of credits.
Experts of GSC provide excellent training in easy to understand language, systematic logical flow and with the means of modern teaching tools like power point presentations, video clips and practical exercises. Apart from providing conceptual clarity, GSC also explains various nuances of the subject.
There are various types of incentives and refunds/rebates available under Central as well as State Statutes/Schemes. Corporates may need detailed guidance on the same backed by field level support.
Broad level awareness notes, case specific eligibility study and detailed procedural notes help corporates to gain adequate level of knowledge with respect to incentives/refunds. Going a step ahead, GSC also provides pillar to post support in actual realisation of such incentives.
Detailed documentation, regular follow ups, and liasoning skills of GSC helps timely sanction of the claims. GSC scores a high success rate in obtaining refunds. Success based cost effective propositions find favour with many clients of GSC.
Over the past few years, litigations under Customs, GST Laws and Stamp Duty are increasing in number as well as complexity especially in view of stringent provisions of tax laws, fiddly compliances and frequent amendments in the laws. Therefore, such sensitive matters need to be handled by the experts. With decades long experience of Indian indirect tax laws, GSC has forte in successfully handling litigation matters such as:
• Departmental enquiries and investigations
• Special Valuation Branch (SVB) cases
• Departmental audits
• Adjudication (Show Cause Notice)
• Writ petitions
This is a crucial stage where though litigation has not started, experts at GSC can identify probable litigation areas and also proactively highlight industrywide issues. In order to avoid litigations, appropriate representations can be made at the enquiry level itself. The queries of enquiring can get resolved at initial stage.
One of the biggest challenges in tax litigations is to determine litigation strategy including cost-benefit analysis, pros and cons of litigation and in deciding the appropriate way to litigate the matter. GSC can assist the organisations to take informed decisions.
Indirect tax litigation support:
We, at GSC, do not stop at providing practical advice but also assist organisations to litigate the matter and provide end-to-end support. GSC focuses on providing tailormade solutions. Even if the matter needs to be referred to senior counsel, GSC extends its assistance in appointing suitable counsels, briefing the matter, drafting submissions, following up with counsels, providing regular updates to clients and discussing way forward.
In India, a business entity is required to take registration in each State from which it makes supplies. As a result, business entity has to follow various compliances, assessments, appeals, etc in respect of each registration. It is very difficult for a businessman to keep track of all such statutes State-specific activities applicable under different States. Further, continuous amendments in the Central GST law and corresponding implementation in respective State GST laws make it very difficult for multi locational companies to comply with the law in time bound manner..
We have dedicated team of GST experts in house and tie ups with local GST consultants to provide one stop solutions to comply with GST law across the Country. It obviates the need to appoint consultant separately for each State, thereby, allowing clients to focus on their business as against GST matters. Incidentally, this leads to reducing communication gaps, saving time & cost with optimum productivity.
ERP Implementation /Review
Proper compliance, complete integration, real time information, adequate internal controls and timely reporting of all units of an organisation are key objectives of introducing Enterprise Resource Planning (ERP). ERP configuration unless done with utmost care and planning may result into a highly paid disaster!
GSC, with its thorough knowledge of the subject, documentation requirements, logical approach and awareness of risk areas, can effectively support ERP implementation from Indirect tax standpoint.
Tax Reviews/Due Diligence
Laws are constantly evolving and so do the resultant complexities. In the era of increasing compliances and tax disputes, it is essential to pre-empt possibilities of defaults. In order to ensure that tax policies of top management get implemented at all levels, periodical reviews are crucial. Besides identifying compliance gaps, reviews also help exploring possibilities of additional tax credits, refunds and incentives.
GSC, with its extensive and effective review tools, helps corporate to apply corporate tax policies across all levels. Basis the report issued by GSC, the top management rests assured about the due diligence and optimization of taxes. Based on the Review, GSC suggests putting systems in place or modifications thereof to remove compliance lacuna and to avail credits/concessions to the fullest.
Representation to the Government
At times, certain policies or confusions related to law may create undesired impediments to business activities. Due to confusions in the industry, economy as a general may suffer. Its imperative that instead of dragging the whole industry into tax disputes, a step should be taken to make a representation to the Government to get relevant amendments or clarifications from Tax Authorities. Industry representations are the means to get such clarifications or amendments.
GSC can help industrial or trade associations to prepare such representations and get the same heard at appropriate forums. Having a strong team of experts, GSC may very well assist industries to represent their stands to Governments to solicit changes in policies and tax structures.