Indirect taxes are the charges that are levied on goods and services. Some of the significant indirect taxes include Value Added Tax, Central Sales Tax, Central Excise Duty, Customs Duty, stamp duties and expenditure tax.
Unlike Direct Taxes, Indirect Taxes are not levied on individuals, but on goods and services. Customers indirectly pay this tax in the form of higher prices. For example, it can be said that while purchasing goods from a retail shop, the retail sales tax is actually paid by the customers. The retailer eventually passes this tax to the respective authority. The indirect tax, actually raises the price of a good and the customers purchase by paying more for that product.
The multi-layered indirect tax levied both at the Central and State level in India is extremely complex and dynamic. Further, frequent changes in the legislation/ judicial pronouncements and the proposed change towards Goods and Services Tax (GST) regime make the analysis of a business structure from an indirect tax perspective all the more imperative. We provide assistance in identifying risk areas and sustainable planning opportunities for indirect taxes throughout the tax life cycle, helping clients meet compliance obligations and business goals around the world.
Our indirect tax professionals have wide-ranging experience and in-depth knowledge of the various indirect taxes such as Value Added Tax /Central Sales Tax, and other indirect taxes. Our service offerings include advising on tax implications on day –to-day operations as well as implications on specific business activities /transactions, assisting in various compliances, structuring transactions to ensure the most tax efficient structure to achieve a given business objective and advising the optimum opinion.
Our globally integrated teams give you the perspective and support you need to manage indirect taxes effectively. We provide you with effective processes to help improve your day-to-day reporting for indirect tax, reducing attribution errors, reducing costs, ensuring regular compliances and ensuring indirect taxes are handled correctly.
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To find out more about the services we offer we offer in this area please contact us.