S.N. Shah & Associates

TAXES

Taxes

Taxes, which are ultimately bourn by final consumers, are called Indirect Taxes. Generally any transaction, whether in goods or services, attracts various indirect taxes. Indirect taxes are usually borne by the final consumer. Therefore, if a business entity fails to anticipate the applicability of an indirect tax and does not recover the same from the consumer it becomes a cost to the entity and is a direct hit to the bottom line. Consequently indirect taxes have a direct bearing on the costs, pricing policy, cash flow and profitability and ultimately the competitiveness of an organization. Hence it becomes critical to evaluate the impact of various indirect taxes on any given transaction.

The existing regime requires businesses to undertake careful upfront analysis of the tax cost involved in a transaction¸ ensure adequate backup documentation to support their tax positions and constantly explore opportunities for tax optimization. India has already moved from selective taxation on services to comprehensive tax regime. Further, as India has implemented Goods and Services Tax (GST) from July 2017, there is a need to factor in any significant tax approach developed at present.

At S.N.S.A. we provide comprehensive advice and assistance on indirect taxes. Our services broadly cover the following:

Advisory

At S.N.S.A, awareness regarding the laws that govern the client, his business and allied activities, is the basic and foremost step to tax advisory. Indirect Tax Team at S.N.S.A. provide advisory services on all facets of indirect taxes. Issues right from setting up a business, to structuring a transaction, classification issues, taxability and determination of rates, point of taxation, place of taxation etc. are some of the core areas where clients seek advisory inputs for vital decision making.

Consultation

Consultation services provided at S.N.S.A., encompass guidance, clarification, solutions and opinions to clients. Consulting services provided on referral basis or through retention agreements for providing comprehensive services. Consulting services provided are on the basis of our long-standing experience, in-depth knowledge of law, extensive research and thorough understanding of client’s business domain. Clients are provided with regular updates with amendments, clarifications and changes in the relevant tax areas.

Tax Representation Services

Tax litigation in India requires a comprehensive approach involving people with adequate understanding of tax laws and insightful handling of contentious issues.

Our services in this area include:

Advisory on litigation strategy
Preparation and drafting of appropriate submissions, appeals or letters
Advisory on the course of action pursuant to completion of indirect tax assessment or appellate proceedings
Representation services before:
- Tax authorities (including audit officer/assessing officer, Commissioner (Appeals)
- Appellate tribunals
- Authority for Advance Rulings
- Settlement Commission

Compliance Review

Compliance Review is an exhaustive audit of compliances of various indirect tax laws covering verification and reconciliation of correct tax payments, availment of concessions, abetments, benefits, exemptions and credits, verification of maintenance of records as required by the law and other compliances. Compliance review is a mechanism to ensure correct payment of taxes and devise controls and strategies for mitigation of tax demands and litigation. In most businesses, in-house compliance team is not fortified to achieve these objectives. Team of professionals from S.N.S.A., with in-depth knowledge of indirect taxes, zero tolerance conduct compliance review and deliver specific solution to the clients.

Audits

Tax Audits are required to be conducted under various indirect tax laws like the Gujarat Valued Added Tax, 2004, Goods and Service Tax Act, 2017 etc. At, S.N.S.A., team of professionals is committed to provide value addition to the client and detailed verifications of the compliance made, reconciliation of the returns filed, verification of the abatement, credits etc. availed and verification of the books of accounts. The assurance services are customized solutions suited to the clients business with detailed focus on the areas required to be report in the audit report.

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Contact Info

info@snshahassociates.com

079 - 40098280, 26465038

Navrangpura, Ahmedabad