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Indirect Taxation

We help enterprises formulate effective strategies to optimize their taxes, implement innovative tax planning strategies and effectively manage compliance-related requirements

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Indirect tax is a tax which is passed on by the taxpayer to the other person. This tax is paid indirectly to the Income Tax Department. These taxes are levied on goods and services. Such taxes are imposed by summating them with the price of the product or service that likely to push the price of the product up.

Indirect taxes contribute extensively to the government revenue and in recent years indirect tax collection has exceeded the direct tax incomes. With the integration of various indirect taxes in to GST, the collection is expected to go up further. India being a federal country, we have adopted dual GST with a four rate structure to meet the interests of various states. Given that the government is extremely proactive in addressing the transition challenges faced by trade and industry, a number of exemptions and concessions find place in the evolving GST system.

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Our Indirect tax professionals with their wide-ranging experience and in-depth knowledge on the subject, can help clients in all the above aspects. We provide advisory and compliance related services with reference to all indirect tax laws including GST, Customs Duty and Foreign Trade Policy and also on the pending tax and litigation matters related to the erstwhile regime.

Lex Koterie LLP handle engagements related to GST and other Indirect Tax Laws, Appeals, Tax Restructuring, Tax Advisory and consulting pertaining to GST, Excise and Customs. Our professional also involve in dealing with Indirect Tax Compliance.

Key Service Offerings
  • GST Advisory & Representation.
  • Custom Advisory & Representation.
  • Indirect taxation review.
  • Assistance in investigations/tax dispute.
  • Closure of pending assessments.
  • Customs & Foreign Trade Policy Assistance.
  • Excise Advisory Services.
Key Responsibilities
  • Implementing support to clients on GST Projects.
  • We support clients in implementing GST, undertake GST impact analysis, manage compliances under GST and identify transition issues.
  • Analysis & Interpretation of Provisions.
  • Builds internal networks to develop an understanding of service line offerings and bring potential opportunities to the attention of the team.
  • Effective implementation and review of work programs.
  • Provides timely and high-quality services and work products that exceed client expectations.

Most Trivial Direct Taxes

GST Registration & Compliances
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Excise
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Lex Koterie LLP is one of the leading professional group involved in Taxation consultancy services, GST, Audit and Assurance, Secretarial and Corporate Law Services, Mergers and Acquisition to Corporate Financial and Risk Advisory, accounting/ related support and outsourcing services.

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GST Registration & Compliances

The GST i.e, Goods & Service Tax is the biggest reform in the structure of Indirect Tax in India since the market began unlocking 25 years back. It is chargeable on the acquisition of the goods & services can be redeemed against the GST chargeable on the supply of the goods and services, the vendor will have to make payment of the GST on the applicable rate but he can claim it back via the tax credit method.

Benefits of GST
  • Easy borrowings.
  • Easy entry into the market.
  • Transparency & simplified tax system.
GST Registration & Compliances include
  • Temporary GST Registration.
  • GST Registration of Foreigners.
  • Registration under Composition Scheme.
  • E-Commerce Registration.
  • Cancellation of GST Registration.
  • GST Annual Filing.
  • GST LUT Filing.
  • GST Invoicing.
  • GSTIN Verification.
  • E-way Bill.
  • Input Tax Credit Reconciliation.
  • RCM Compliances.
  • Job Work Compliances under GST.
  • Refunds under GST.
  • Assessments &  Appeals.

Custom Duty

It is applied to all the products, which come in via air, sea or land. While acquiring products bought in different country to India, custom duty is charged. The intention of custom duty is to make sure that the goods that enter the country are levied taxes and are paid for. Octroi makes sure that the goods traversing the state borders inside India are appropriately taxed.

Types of Custom Duty

Custom duty in India is defined under the Customs Act, 1962 and enables the government to levy duty on exports and imports, prohibit export and import of goods, procedures for importing/exporting and offences, penalties etc.

  • Basic Custom Duty
  • Countervailing Duty (CVD)
  • Additional Custom Duty or Special CVD
  • Protective Duty
  • Anti-Dumping Duty
  • Safeguard Duty
  • Education Cess on Custom Duty
Custom Duty Compliances include
  • Documentation & Facilitation for Imports & Exports
  • Providing tax planning services with reference to current legislations
  • Expertise in Custom Duties &  Returns
  • Claiming refunds in Customs
  • Detailed knowledge of exemptions, exclusions & duty drawbacks.

Excise Duty

An excise duty is a tax meant for producers and manufacturers on certain goods.
Manufacturers are considered to be-

  • Entities who manufacture goods themselves.
  • Entities who outsource manufacturing, but manufacturing takes place from their name.

To cover these costs, manufacturer adds them to COGS (cost of goods sold), where the buyer ends up paying for these costs.

Types of Excise Duty
  • Basic Excise Duty (called CENVAT).
  • Additional Excise Duty (High Importance Goods).
  • Special Excise Duty (Special Goods).
Global Approach to Excise Compliance is driven by
  • Providing flexible & scalable approaches.
  • Providing a unified strategy to leverage Global Financial System.
  • Providing access & visibility into all facets of Tax Return Preparation, filing with Authorities & maintaining of documents.
  • Providing tax technical analysis.
  • Utilize proven compliance process & tools with immediate effect & minimal disruption.