Indirect Taxation Services
S. K Patodia & Associates offers following services related to Indirect Taxation in India.
Maintenance of statutory records required under all Indirect tax laws
Every assesse conducting business in India is required to maintain receipts, Purchase, manufacture, storage, sales or delivery of goods including inputs, Capital goods and receipt, procurement or payment of input service, stock account etc. which are required to be maintained under all Indirect Tax laws and submit periodically the prescribed returns.
Filing of periodical (monthly, quarterly, semi-annually, annually) statutory returns under Central Excise, Service Tax, Value Added Tax and Central Sales Tax laws
Leveraging on the skills and knowledge factor of our expert personnel, we offer impeccable Indirect Tax Return Filing Services. Every assesse registered under various Indirect taxes laws has to comply with the filing of Statutory returns requirements under Central Excise , Service Tax, VAT and Central Sales Tax Laws.
Obtaining various bonds, undertaking, forms under different laws
An Assesse is required to execute bond, undertaking etc. for obtaining goods without payment of duty, provisional release of seized goods, provisional assessment of goods for export of goods without payment of duty etc.
We at SKP help our client in obtaining and executing various bonds, undertakings etc. effectively and efficiently leaving a little room for hassles.
Determination and deposition of customs duty prior to clearance of goods by customs authority
Customs Duty is a type of indirect tax levied on goods imported into India as well as on goods exported from India. Taxable event is import into or export from India.
Import duties are generally of the following types:-
Basic duty, additional customs duty, Anti-dumping duty, education cess etc.
Auditing as per IDT rules and regulations
Different rules and regulations are built up for carrying on the audit of indirect taxes. CENVAT Audit, Excise Audit is carried on according to the department wise, whereas, Vat audit is governed according to the different state laws. Various statutory documents, proper return filing, proper Cen vat credit matters are to be looked into while carrying on the audit under Indirect taxes.
We, at S K Patodia & Associates, have dedicated team of experts providing auditing services as per IDT rules and regulations. Our team gives you the perspective and support to manage indirect taxes more effectively and efficiently.
Every Individual and Corporates has to communicate with Indirect Tax Authorities.
To prevent the problem of co-ordinating with IDT Authorities we at SKP provide the representational services to our client, where we represent our client before the IDT Authorities.
Tax structuring of the company as a whole
We provide Tax structuring of the company which include compilation of various details & Information required for tax purposes and providing tax audit support services which in turn leads to smooth filing of Tax Audit Returns.
Developing standard operating procedures (SOPs) ensuring compliances with all Indirect tax laws
Evaluation of benefit admissible under Foreign Trade Policy and assistance in obtaining licences of varied nature i.e. EPCG, DFIA, AAL etc. DFIA is issued to allow duty free import of inputs which are used in the manufacture of the export product (making normal allowance for wastage), and fuel, energy, catalyst etc. which are consumed or utilised in the course of their use to obtain the export product. EPCG enable exporters to import machinery and other capital goods for export production at concessional or no customs duties at all.
We at S.K.Patodia & Associates assist our clients in obtaining licences of varied nature (EPCG, DFIA etc.) and help them to evaluate the benefits admissible under Foreign Trade Policy.
Preparation and filing of Wealth tax return
The filing of Wealth tax return is a legal obligation of every person whose total income during the previous year exceeds the maximum amount which is not chargeable to wealth tax under the provisions of The Wealth Act, 1956. The return should be furnished in the prescribed form on or before the due date.
To carry out the Business Operations efficiently and effectively, every Individual and Corporates has to communicate with the Income Tax and Wealth Tax Authorities. To fill the communication gap between our client and Income Tax /Wealth Tax authorities, we represent our clients before the Income Tax /Wealth Tax authorities.