We offer comprehensive due diligence services for assessing indirect tax compliance and potential risks. Our tax experts specialize in conducting thorough due diligence to ensure that your business operations remain compliant with the intricate and evolving Indian indirect tax landscape.
1. GST Compliance Assessment
Review of GST Registrations: Verify the validity and completeness of GST registrations across various states.
GST Returns Analysis: Scrutinize past GST returns and review tax computation to identify discrepancies, non-compliance issues, or potential tax-saving opportunities.
Input Tax Credit Validation: Verify the correctness and completeness of Input Tax Credit claims, supporting documents, and compliance with GST provisions.
2. Customs and Import/Export Duties
Assessment of Import/Export Transactions: Analyse import/export transactions to ensure compliance with customs duties, including classification, valuation, and exemptions.
Customs Compliance Review: Evaluate customs duty payments, tariff classification, valuation methodologies, and compliance with customs regulations.
3. Service Tax and Excise Duty
Review of Historical Liabilities: Scrutinize past service tax and excise duty assessments, payments, and any potential liabilities.
Identify Tax-Saving Opportunities: Explore opportunities for availing exemptions, abatements, or concessions available under service tax and excise duty laws.
4. Litigation review
Review of Historical Liabilities: Scrutinize the litigation history involved and comment on the positions adopted and whether the same is sustainable.
Contingent liabilities/ potential tax issues: Review the financial statements to analyse the contingent liabilities / potential tax issues and comment on the positions adopted.
5.Risk Mitigation and Recommendations
Risk Assessment: Identify potential tax risks, non-compliance issues, and areas of improvement related to indirect taxes.
Tax Planning Recommendations: Provide recommendations for mitigating identified risks and optimizing tax positions through effective tax planning strategies.
Compliance Roadmap: Develop a clear compliance roadmap to rectify any identified non-compliance issues, enhance future tax compliance, and avoid future litigation