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Service Tax

Concept

Tax on services has been in vogue in India since 1994 when it was introduced for the first time. But the manner of levy of service tax has been completely overhauled since July 2012, with advent of Negative List based service tax regime. The rate of service tax is 14% w.e.f. 1.6.2015. Further, Swachh Bharat Cess (SBC) and Krishi Kalyan Cess (KKC) @ 0.5% have also been imposed and hence effective total tax rate has become 15%.

COMPLIANCE AND PROCEDURAL SUPPORT:

  • Obtaining required registration.
  • Assistance in obtaining benefits under the Service tax law and Export benefit schemes.
  • Processing of refunds under various rules and notifications under Service tax law.
  • Verification of accounting data and documentation before filing of Returns.
  • Filing of Intimations with the related Statutory Authorities.
  • Reconciliation of accounting data with Returns.
  • Comprehensive adapting clients accounting database to make them department friendly.

CONSULTING AND ADVISORY:

  • Tax Structuring and Optimization strategies.
  • Transactional Support Service for existing transaction or transaction proposed to be entered.
  • Tax policy formulations.
  • Assessment and impact studies of whole business keeping in view the Service Tax liabilities and compliances.
  • Preparation of Compliance Manuals, Standard Operating Policy and Procedure (SOP) Manuals.
  • Advise on drafting of commercial agreements with regards to Service Tax impact thereon.
  • Active representation in handling Preventive Cases either in case of search, enquiry or investigation at any level or type of departmental agency.
  • Advising and guidance on various issues under the Service Tax law.
  • Design, implementation and review of accounting manuals so as to enable data collection for Service Tax purposes.
  • Training of Staff to bring them on par with the current requirement in law and data processing.
  • Advising on Maintenance of statutory records and registers.
  • Handling Liaison with Service Tax department.
  • Opinions on relevant Service Tax issues.

LEGAL SUPPORT AND REPRESENTATION & FOLLOW UP:

  • Representation with the Central Board of Excise and Customs on issues against the industry.
  • Handling Service tax departmental audits.
  • Handling Scrutiny, preventive cases.
  • Handling Search cases.
  • Drafting and filing replies and attending hearings to Show cause notices with statutory authorities.
  • Drafting appeals & submissions and personal appearances with Commissioner (Appeals) and CESTAT.