The Proposed implementation of GST is an active step towards integrating all Indirect Tax Laws (Value Added Tax (VAT), Central Sales Tax (CST), Service Tax, Central Excise Duty, Entertainment Tax, and more under one law.
Indirect Tax in India, namely GST, is characterised with frequent modifications which need to be adopted by businesses instantaneously. It requires the assistance of professionals who can analyse the impacts of those changes on the company and assist in their proper implementation.
We provide professional services in various Indirect Tax Laws and manage Indirect Taxes more effectively and efficiently. We also offer legal opinions and consultancy on Indirect Tax laws, which helps you execute best practices in your business. It also reduces the possibility of confrontation with the revenue authorities on taxation and compliance issues.
The eventual tax amount is paid by the buyer of the goods and services. To put it simply, indirect taxes are those taxes that can be shifted from one individual to another. It is not levied directly on the income of the taxpayer, but is levied on the expenses incurred by them.
Indirect taxes are typically added to the prices of goods or services. GST and Custom duty are examples of Indirect Tax.
Gift Tax is not an indirect tax. It is a federal tax applied to an individual giving anything of value to another person.
GST is known as the Goods and Services Tax. It is an indirect tax which has replaced many indirect taxes in India such as the Excise duty, VAT, Service tax, etc. GST is a single domestic indirect tax law for the entire country.
These individuals advise how indirect taxes impact their client’s supply chain, financial and accounting systems. Their offering is broad-ranging, but includes identifying and addressing areas of risk, providing timely planning solutions and the application of technology-based compliance management solutions.