The Indian law dictates that taxes should be levied on taxable income earned by individuals and corporate entities, and on the sale and provision of goods and services. The former is called direct taxes, while the latter are indirect taxes. The taxation system in India is such that the taxes are levied by the Central Government and the State Governments.

Over the last few years, various policy reforms and process simplification have been undertaken by the Central and many State Governments, towards great predictability, fairness, and automation. GST has been one of the biggest indirect tax reforms in the country. The government has been extremely proactive in addressing the transition challenges faced by trade and industry, a number of exemptions and concessions find a place in the evolving GST system.

The continuous clarifications, amendments in the GST law require constant monitoring of changes by the businesses, which in turn calls for changes in their systems and processes. In addition, a business needs to keep track of the pending assessments and investigations related to excise, service tax, VAT, CST, and other local levies.

Businesses have to be aware of the GST implications and comply with statutory compliance requirements. Challenges arise for a business when there are varying treatments of supply of goods and services, and interpretations of customs and GST provisions.
We, at MARC, have the capacity to advise and assist you on both direct and indirect tax matters that may arise throughout the life of a business in India.

We offer:

• Tax Structuring for both inbound and outbound investments.
• Tax compliance for covering direct and indirect taxes.
• Direct tax and indirect tax advice, including commercial tax, customs duty, stamp duty, special goods tax, and specialist topics.
• Filing of tax returns.
• Tax Deducted at Source (TDS) filing.
• Value Added Tax (VAT) filing.
• Assistance in tax-related appeals.

Our tax advisory services cover:

• Assess tax implications on existing or proposed business transactions.
• Review contracts and agreements in order to identify the GST impact.
• Advice on various incentive schemes pertaining to duty-free import/export of goods or services under the Foreign Trade Policy.
• GST Advisory Services.

Our professionals, with their wide-ranging experience and in-depth knowledge of the subject, can help you in all the above aspects.