At NITYA, we firmly believe that tax costs in a business transaction can be best optimized with advance planning and structuring. Business urgency requires forming reliable tax positions in a reasonable time-frame. Our experience across diverse industries, and with judicial forums in litigations, enable us to assist you with timely and useful insights.
We aim to work as a business advisor to you, bringing forth the complex matrix of different tax laws in a simple, understandable and executable manner.
Our Indirect tax advisory support services include:
- On-call advisory on regular issues
- Legal opinion on specific issues/transactions
- Determining classification of goods and services
- Transaction structuring including structuring supply chain from indirect tax perspective
- Review of contracts
Compliances are the backbone of any taxation system. In the context of Goods and Services Tax (‘GST’), compliances assumed significant importance as it involves filing of multiple returns, matching concept for credits, annual reconciliations etc. At NITYA, we provide support in filing returns / statements, refunds etc. within the prescribed timelines.
We support our clients in meeting day-to-day business needs of complying with the procedural aspects of Indirect tax laws. We work in harmony with your teams to achieve this objective.
Our Indirect tax compliance support services include:
- Preparation and filing of GST returns, refund claims applications etc
- Reconciliation / matching of data to ensure a smooth flow of credit
- Preparing and regularly updating management dashboard for the compliances undertaken
GST was rolled out with effect from July 1, 2017. Since then, the Government has made various amendments to clear several key aspects of the law for ease of implementation. This rapidly changing environment makes it crucial for the corporates to review and align the tax positions / internal processes in accordance with the GST law on a regular basis.
In the present regime of self-assessment, any default in compliance, howsoever inadvertent, could spiral into interest, penalty, litigation costs and bad press.
We also understand that regular tax work may not allow you an opportunity to identify strategic tax saving opportunities and hidden tax exposures.
At NITYA, we conduct detailed reviews to identify the opportunities for tax optimization, exposure areas and areas of non-compliances, if any, by undertaking:
- Detailed health checks from Indirect tax standpoint (including Customs and Foreign Trade Policy)
- Due diligence support during mergers, acquisitions and other business arrangements
- Process review of business transactions
Tax litigation in India not only involves time, financial costs and penal consequences, but it also entails uncertainty in respect of on-going transactions. Our experience has shown that the comprehensive preparation at the initial stages of tax litigation plays a significant role in a successful outcome.
Our Indirect tax litigation support services include:
- Drafting of
- – replies to Show Cause Notices
- – appeals before appellate authorities and tax tribunal
- – appeals writs and special leave petitions before High Courts and the Supreme Court of India
- – and appearance in relation to advance rulings applications
- Appearance before adjudicating authorities, appellate authorities, Tribunals and Courts on a pan-India basis
With growing complexities around taxation of various transactions, a business should avoid unexpected and time-consuming tax litigation. An effective alternative to tax litigation is to reach out to policy makers / tax authorities to pre-empt any business disruption.
This could pertain to discussions on a provision of law affecting the business or seeking clarification or requesting for amendment to a redundant provision.
At NITYA, we provide advocacy support to your business with the highest ethical standards.
Our Indirect tax advocacy support services include:
- Drafting of representations in relation to policy matters or seeking amendment in laws or clarifications at forums like:
– Ministry of Finance or / and Ministry of Commerce, Government of India
- – Central Board of Indirect Taxes & Customs
- – GST Council
- – Directorate General of Foreign Trade
- – State Finance Ministry and Tax Authorities
- Liasoning with the aforesaid authorities over a representation filed towards seeking a relief
The Legal Metrology Act and the Legal Metrology Rules (LMA Law) are applicable to goods sold in retail packages. LMA Law is one of the stringent laws in India with the objective to ensure fair trade & commerce and consumer protection from any fraudulent trade practices by sellers.
At NITYA, we support your businesses to identify areas of non-compliances, implementation of changes and advisory & litigation support under the LMA Law.
Our service offerings in this space include:
- Review of existing packages and identification of areas of non-compliances
- Amendment to existing labelling requirements or development of new labels
- Drafting of reply to notices issued by LMA authorities and appearance therein
- On-call advisory support including implementation of periodic changes in LMA Law
Technically updated employees, vendors and customers are a boon to every business set-up. This not only ensures business efficiencies but also helps in pre-empting future uncertainties.
From the execution level to the top management of your firm, we train you in complex Indirect tax laws, issues and transactions.
Our trainings modules are specially customized to cover your organization specific needs and include:
- Providing detailed insights into Indirect tax laws (including GST, customs) and allied laws
- Apprising on complex business transactions / issues specific to the trainee organization
- Interactive sessions on peculiar transactions / issues relating to various business functions including sales, marketing, procurement, finance and accounts, legal, treasury etc
- Updating on new developments around Indirect taxes and other allied laws
Phone - 011-41091200
NITYA Tax Associates,
B-3/58, 3rd Floor, Safdarjung Enclave,
New Delhi - 110029
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