Taxation Services

Direct Taxes

Amid the challenging economic scenario and newfound initiative by the Government to improve tax environment, businesses need to pay close attention to tax challenges and rework their strategies.

Compliance is no longer limited to an annual exercise aimed at filing of a tax return, but has evolved into a full-time function focused on effective tax structuring and planning ensuring that organisations remain competitive in this complex business environment and at the same time manage their tax exposure.

We, at Utsav Shah & Associates, keep clients aware of developments that may affect business, and also help interpret their significance and plan strategic initiatives, enabling them to balance compliance and value creation. We can help inter alia in direct tax compliance services like preparation and filing of Income tax returns, Advance tax, Tax deducted at source and Representation in case of Search, Seizure & Assessments.

Indirect Taxes

The Goods and Service Tax (GST) is radical tax reform. It has resulted in to comprehensive tax base and virtually all goods and services are taxable. GST will impact tax incidence, credit utilization, compliances and will require complete overhaul of the indirect tax system of business entities. Business entities will have to reevaluate their supply chain, renegotiate contracts with customers/vendors and reset tax practices.

The firm offers comprehensive GST advisory, compliance and operational support services to assist businesses.

The systematized compliance services and operational support offered by us encompasses various activities such as obtaining registrations and licenses, filing of returns and assistance in refund applications. We also assist in preparing replies/responses to show cause notices.

International Taxation

With increase in foreign direct investment there are lot of multinational enterprises which have made inroads into Indian business environment and with liberalisation there are also many Indian entities that have made overseas direct investments in order to avail global opportunities.

With increase in cross border transactions the businesses are tackling the issues of heightened international tax incidence leading to double taxation and resultant litigation. In order to be tax compliant and simultaneously be tax efficient, business require a sound International tax strategy, which in turn requires expert international tax advice and support.

We provide advisory services for corporate structuring and planning, issues related to Tax treaty interpretation such as income characterisation and Permanent Establishment (PE) exposures, outbound and inbound investments, obtaining lower withholding tax certificate, compliance and tax planning services related to foreign remittances and representation before the Authority for Advance Rulings (AAR) for obtaining Rulings on international tax matters.

Transfer Pricing

With increase in demand on account of rising income, expanding young population base, with large pool of skilled manpower and advanced technology, India is attracting lot of multinational enterprises (MNE) leading to extensive cross border transactions. It is also a fact that various entities in the MNE group structure have given rise to transfer pricing and issues related to such transfer pricing.

Tax payers are grappling with increased Transfer pricing documentation compliances and aggressive litigation in Indian Transfer pricing arena, which requires timely and robust transfer pricing policies and documentation. The global transfer pricing policy ensures consistent transfer pricing treatment of various global transactions as per standard TP methodology, mitigating the risk of economic double taxation. Robust Transfer pricing documentation is needed to defend the tax payer against any potential risk of Transfer pricing adjustments.

Transfer pricing is generally an international tax issue but recently to bring more scientific basis in determining fair market value in related party or specified domestic transactions, Domestic transfer pricing regime has been introduced in India from Assessment year 2013-14 onwards. These domestic transfer pricing regulations have introduced the concept of arm's length pricing for such specified domestic transactions.

We provide complete life cycle support for transfer pricing process, starting from transfer pricing study including documentation, certification, assessment to litigation. We also provide advisory on transfer pricing policies and structuring services keeping in mind the widely litigative issues in India such as Intangibles and share valuations, advisory for Safe Harbour regulations, assistance in entering into Advance Pricing Agreements (APAs) and support in Mutual Agreement Procedures (MAP).

Tax Structuring and Advisory

Whether it is a onetime unique transaction or repeated transactions of same nature, both require efficient tax structuring and advisory, ensuring efficiency of taxes and minimised risk of tax litigationWe provide Tax structuring services taking into account applicable tax incentives, entity options, existing litigative tax issues, foreign tax issues and anti-avoidance measures such as Specific Anti Avoidance Rules (SAAR) or General Anti Avoidance Rule (GAAR). We work closely with every stake holder of the taxpayer such as investment bankers, Lawyers , company secretaries , PE investors in turn ensuring tax synergy in the overall business strategy.