Being uninformed is the worst situation when it comes to Taxation. We not only help clients save tax that is being paid in excess to what is actually required as per law, but also advise and guide them in paying appropriate taxes. It is necessary to know the implications that are caused by minute facts and circumstances when it comes to taxes. To know and understand this, nothing can replace the power and knowledge gained by experience.
India is a Developing Economy and a lucrative investment option for most of the Developed countries at this stage. We understand the need for Corporate to be clearly guided and informed about the Taxonomy between countries, as well as Tax Laws within India. The Tax Laws have been amended time to time, and we have been following the same. Therefore it accelerates our understanding of the very objective of Laws, Sections and Rules framed by the Authorities. Having known the very creation and closely following such developments, it becomes easy for us to guide the clients and create real value for them.
Direct Tax Consultancy Services
- Corporate Taxation Advisory Services: Advising large Companies / Corporations on their income tax matters, including also foreign taxation matters on Indian corporations.
- Tax Management Services: Attending to the matters of tax laws compliance.
- Tax Appeals: Drafting and representing tax appeals before appellate authorities like Commissioners/ Appellate Tribunal.
- Tax Planning: Advising clients on structuring tax-efficient business planning, including restructuring of business e.g.Amalgamations/ merger etc.
- Services relating to Foreign Collaboration Agreements, NRIs taxation, Double Tax Avoidance Agreements Reliefs etc.
- Preparation of tax returns for Individuals, Firms, NRI's, Foreign Nationals, and Companies etc.
- Tax Assistance
- Obtaining Permanent Account Number
- Tax Deduction Account Number
- Services related to TDS/ Withholding taxes
- Tax Planning - Personal and Corporate.
- Filing of e-Income tax and e-TDS returns
- STPI registration
Assisting Companies in the Transfer Pricing rules in India together with certification & filing of necessary reports. NRI & Overseas Consultation to develop strategies for tax minimization together with setting up of Offshore Companies keeping in view the Double Taxation Avoidance Agreement (DTAA) rules & regulations of the foreign jurisdiction.
Service Tax Consultancy is the latest service offering added to the bouquet. The team consists of 3 Chartered Accountants that work in sync with each other and also has experienced and seasoned team members.
Our aim is to provide precise, concise and clear opinions and consultancy. With the latest modification in the basic charter of Service Tax and introduction of techniques such as ‘Reverse Charge Mechanism’ and ‘Negative List’ for exempt services, most of the activities undertaken by a company in its routine activity have fallen under the purview of Service Tax.
On the other hand the Penalty has been enhanced by the department and non-compliance is frowned upon. The Service Tax department has been observed to be proactive and dynamic thereby visiting a lot of business premises and auditing their books for any lapse that they may find.
With this, it becomes pertinent to make sure that the practices carried by the company and the liability towards Service Tax is being assessed and discharged appropriately and that Reverse Charge Mechanism provisions are being complied effectively too.
The Sales Tax
VAT / Sales Tax are state level taxes levied on sale of goods (including computer software), work contract and hiring of goods. Since the introduction of VAT (Value Added Tax), compliance requirement have increased manifold and require expert services for maintenance of records and calculation of tax liability. GMA provides the following services for compliance with VAT / Sales Tax:
- Registration with VAT / Sales Tax Authorities
- Filing of Periodical Returns and calculation of tax liability
- Assisting with other VAT / Sales Tax compliances
- Procurement of Statutory Forms
- VAT Planning and Advisory Services
- Representation for Assessment, Appeals, References etc
- Excise Duty Planning
- Assistance and monitoring of Excise Audit by External Cost Accountants
- Preparation of Cost Accounting Records as per Rules
- Internal Audit of Excise Records and assuring management of correctness of payments to Excise Authorities