Goods & Services Tax

Goods and Services Tax (GST) is one of the biggest tax reforms introduced in the history of Indian fiscal evolution. The all-pervasive impact of GST on a company’s services, material and product costs, cash flow, profitability and, ultimately, shareholder value is an important element that requires careful attention in a competitive world of fine margins.

We at D H Vadivalla Co are closely involved in monitoring the developments on GST. We help businesses anticipate policy changes and assess their impact on operations, offering a host of specialized GST-related services such as:

Advisory

• Advising on applicability of taxes on various transactions being undertaken and envisaged by the business.
• Advising on issues related to classification, valuation, place of supply, admissibility of tax benefits and exemptions.
• Opinions on regular and technical tax issues faced by businesses.
• Undertaking a comprehensive review of the business operations to identify tax optimization opportunities and compliance gaps.
• Conducting detailed indirect tax due diligence.
• Review of each business process and systems and prepare detailed SOP.
• Review of existing GST infrastructure and revalidate the correctness of stand taken by the business with respect to GST implication on various transactions.

Compliance assistance (Retainership) and Outsourcing

• Managing all GST compliances on PAN-India basis.
• Extensive control checks ensuring accuracy and completeness of data and exhaustive validation checks for return finalization.
• Assistance in periodic computation of tax liabilities and eligible Input Tax credits.
• Assistance in preparing and filing periodic return(s) and refund claims.
• Assistance in obtaining/amending Indirect Tax registrations, as may be required.

Litigation assistance

• Assistance in drafting replies to notices, enquiries and other such communications received from revenue/ assessing authorities.
• Representing matters before the appropriate authorities including tribunals and engaging an external legal counsel, if required.
• Filing advance ruling application with the authorities to seek clarification on ambiguous matters.

Audit

• Review of data collated and reconciliations prepared.
• Assistance in preparation and filling of GST annual returns and audit report.
• Guidance in the collation of documents and information required to file an annual return and audit report.