Indirect Tax, Customs & Trade Group
Every commercial transaction has taxation aspects, and businesses need to identify them to fulfil their tax responsibilities. Singh & Associates’ highly qualified Indirect Tax Practice team works with Indian and international businesses and advises them on all aspects of Indirect Taxation in India, including GST and Customs duties.
S&A provides a broad spectrum of services under Indirect Tax, Customs & Trade Group with a specialized team having extensive experience in across varied sectors such as manufacturing, real estate, pharma, infrastructure, oil and gas, defense, media, IT ITES, retail, hospitality, banking and financial services, e-commerce, etc. The indirect tax practice offers the entire range of services to multinationals and domestic corporations in designing, implementing, and defending their overall indirect tax strategy.
Goods and Services Tax
• Determination of applicable tax rates, classification of goods and services and availability of indirect tax benefits/exemptions
• Review of the business model and supply chain
• Advice on eligibility of input tax credit, job work, liability to pay tax on import of goods and services or under reverse charge on various activities, valuation of goods and services on supply etc.
• Assistance to various clients in tender – bidding to assess tax implications.
• Assisting clients in conducting detailed indirect tax due diligence of operations and recommending tax efficient practices, mitigating tax liability, etc.
• Assisting clients in obtaining and surrender of registration, filing of refund claims, review of data and filing of monthly and annual returns.
• Assisting clients in making representation before the Central Board of Indirect Tax & Customs (CBIC) addressing key issues on anomalies in law, rate inconsistency, business issues, etc.
• Assisting clients during raid or investigation by the Directorate General Goods and Services Tax Intelligence to take a view on Tax positions and options to deal with high risk positions, briefing and debriefing of employees and representation before the Authorities.
• Litigation support before Adjudicating Authorities, Advance Ruling Authorities, Appellate Authorities, Appellate Tribunals, various High Courts and the Supreme Court.
Customs and Trade
• Classification of goods and determination of rate of Duty payable at the time of import or export, applicability of exemption notification.
• Filing of submissions before the Special Valuation Branch of Customs (SVB) to determine arm’s length price in case of goods imported from Associated Enterprises.
• Availability of Duty Drawback on export of goods or services.
• Export/ Import Controls over restricted goods & technologies and Sanctions.
• Analysis of applicability of schemes under the Foreign Trade Policy.
• Assisting clients in obtaining, Import Export Code, Licenses/Authorisations from Director General of Foreign Trade (DGFT) for availing export incentives or export/import of restricted goods or technologies.
• Setting up and exit of units under 100% Export Oriented Scheme, Special Economic Zone and Free Trade Warehousing Zone units, etc.
• Seeking approval from the Authorities for change of implementation agency in case of merger, acquisition, takeover, etc. of EOU.
• Advice on compliances to be undertaken under various regulatory laws like the Environment (Protection) Act; the Telegraph Act; the Narcotics Drugs and Psychotropic Substances Act; the Information Technology Act; Bureau of Indian Standards; the Manufacture, Storage and Import of Hazardous Chemical Rules; etc., in relation to export/ import of goods and services.
• Filing of representations before CBIC, DGFT and various other Regulatory authorities seeking clarifications on key issues.
• Diagnostic review of operations under the Customs Laws and the Foreign Trade Policy to operate in efficient and compliant manner.
• Representing clients in various Anti-Trade Remedy investigations for levy of Anti-Dumping Duty, Safeguard Duty and Countervailing Duty by the specified authorities.
• Litigation support before Adjudicating Authorities, Advance Ruling Authorities, Appellate Authorities, Appellate Committee in cases under the Foreign Trade Policy and the Foreign Trade (Development and Regulation) Act, Appellate Tribunals, various High Courts and the Supreme Court.
• Assisting clients during raid or investigation by the Directorate of Revenue Intelligence and other Regulatory authorities like, Enforcement Directorate, Narcotics Control Bureau to take a view on key issues and options to deal with high risk positions, briefing and debriefing of employees and discussions with authorities to close the case.