Despite various reforms being continuously carried out by Central as well as State Government, the prevailing Indirect tax system in India is still quite complex, with multi-layered levies both at the Federal and State level. The Federal government levies tax on goods at the point of import in the shape of Customs duty; at the time of manufacture in the shape of Excise duty; at the time of Inter State Sales in the shape of Central Sales Tax (CST); and also on provision of services in the shape of Service Tax.
At the same time, the states, have been vested with powers to levy tax on sale of goods within the state in the shape of Sales tax/Value Added Tax; and also on the entry of goods into the state in the shape of Entry tax, under respective state laws.
The existing tax system in India requires businesses to undertake careful analysis of various taxes involved in a particular type of transaction and constantly explore opportunities for tax optimization.
The indirect tax professionals associated with Dhawan & Co. [DC] have wide ranging experience and in-depth knowledge in this field and provide advisory services in respect of Custom duty, Excise duty, Service Tax, Central Sales Tax, VAT, etc.
We also assist our clients in making representations before the revenue authorities for assessments, obtaining tax concessions and reliefs.