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Indirect Taxation

We provide pragmatic solutions for a variety of organizations including multi-national corporations, large Indian corporations and small and medium enterprises.

In India, some of the significant Indirect Taxation regulations are:

  • Service Tax (ST) regulations
  • Value Added Tax (VAT)/ Central Sales Tax (CST) regulations
  • Goods and Services Tax (GST) regulations
  • Central Excise regulations
  • Customs regulations

Apart from the above, the following regulations are also closely associated with the Indirect Tax authorities and regulations:

  • Special Economic Zone (SEZ) regulations
  • Software Technology Parks of India (STPI) regulations
  • 100 % Export Oriented Units (EOU) regulations
  • Foreign Trade Policy (FTP) regulations

A well planned indirect tax strategy is essential for competitive product pricing and ensuring increased profitability. RSM Astute has experienced teams focused on various significant indirect taxes including VAT, Service tax and CST.

What We Do

Some of our significant services in the Indirect Tax domain include:

Indirect Tax Advisory Services
  • Business Structuring strategies – Advising on structuring / re-structuring the business / organization structure with a view to minimize the tax incidence and optimize available benefits as provided under the regulations.
  • Transaction Advisory Services – Advising on structuring / re-structuring of transactions / relationships with a view to achieve the objectives of minimizing of tax and compliance impact.
  • Preparation of Compliance Manuals / Standard Operating Policy and Procedure (SOP) Manuals – Assisting in the preparation of Standard Operating Policy and Procedure Manuals covering the various indirect tax compliance requirements – eg. policies, procedures, related templates for various forms, registers etc to be used of the organization based on specific customized needs of the Client.
  • GST Change Management Study – Conducting a study to determine the extent of impact that the various changes being contemplated in the Goods and Services Tax (GST) regulations, could have on the various aspects of the business / organization pursuant to the transition from the existing tax regime to GST and advising on the possible strategies that would be required to be adopted to enable minimal effect of such impact. This exercise could broadly cover the following aspects:
    • Formulating a GST Migration Steering Committee
    • Impact study of GST on businesses
    • Review of the existing level of compliance, documentation and accounts function with a view to identifying the changes that would be required
    • Review of the Accounting systems as existing and the changes that would be required thereon in the new GST regime.
    • Review of Information Technology (IT) systems as existing and the changes that would be required thereon in the new GST regime.
    • Identifying various aspects that would need to be intimated / resolved / reconfirmed with Customers and Suppliers / Vendors.
    • Studying implications of the change on the organizational cash flows.
    • Assisting in the preparation of a detailed checklist for GST administration
    • Identifying and examination of possible areas where there could be concerns of litigation / ambiguity and advising on related matters / strategies to be followed.
    • Organizing intermediate and advanced training programs for groups of employees based on specific organizational needs.
    • Understanding transitional GST provisions and advising / assisting clients in their proper understanding and availment of the benefits as permissible.
    • Providing Opinions on specific matters – Examining specific matters / issues referred to by Clients and providing our specialized opinions thereon.
Indirect Tax Compliance Audit Services
  • Conducting Compliance Reviews – Critical review of key compliance and documentation aspects governing the various regulations (eg. Service Tax, Central Excise, VAT/CST, Foreign Trade Policy, GST etc). Further, the review can also be extended to cover the internal control aspects in respect of the above regulations in the functions / departments of the organization. The said reviews can be conducted either on a one off basis or on a periodic basis (Concurrent / Monthly / Quarterly / Half Yearly) as per requirements of the Client.
a) Compliance Services
  • Obtaining registrations, Approvals, TIN etc. from various regulatory authorities
  • Assistance in filing of periodic returns
  • Assisting in filing of refund claims with the authorities
  • Cancellation of registrations, completion of closing assessments etc and related matters.
  • Assisting in the compilation, analysis and representation of the matters before the Authorities during their non – routine visits to the Client’s premises or during hearings where the Clients / their representatives are asked to represent.
  • Representation before authorities for Refund Audits / Business Audits / Assessments.
  • Preparation of filing of appeals / request for advance rulings etc and representing before the authorities.
  • Coordination with Statutory VAT Auditors
  • Any other related compliance matter where assistance is required.

Advantage RSM Astute

  • Actively servicing a large number of Indian and multinational companies in matters of corporate advisory, taxation and accounting issues across various industries and service verticals.
  • Dedicated team of personnel having expertise in the field of direct taxation, indirect taxation, transfer pricing, foreign exchange regulations, corporate and other commercial regulations.
  • Access to global methodologies, subject expertise and best practices of RSM International.
  • RSM Astute Consulting Group (along with its affiliates) together has been ranked as the 5th largest accounting and consulting group in India (International Accounting Bulletin - September 2010).
  • Extensive experience in advisory, taxation and accounting matters across various industries and service verticals.
  • Multi-disciplinary team of professionals comprising of Chartered Accountants, MBAs, Engineers, Company Secretaries, CISA / DISA, Cost Accountants and Law graduates.
  • Indian personnel strength of over 800 people having expertise in diverse fields and Nation wide presence.
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RSM Astute Consulting Group is a member of the RSM network. Each member of the RSM network is an independent accounting and advisory firm each of which practices in its own right. The RSM network is not itself a separate legal entity of any description in any jurisdiction. The RSM network is administered by RSM International Limited, a company registered in England and Wales (company number 4040598) whose registered office is at 11 Old Jewry, London EC2R 8DU. The brand and trademark RSM and other intellectual property rights used by members of the network are owned by RSM International Association, an association governed by article 60 et seq of the Civil Code of Switzerland whose seat is in Zug. © RSM International Association, 2013.
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