Indirect Tax impacts every aspect of business and has a direct impact on the product and service cost, pricing, profitability and cash flows. Businesses have to continuously adopt to changing circumstances to ensure compliance and reduce cost to stay ahead of the competition.
The in-depth knowledge of our team and experience of working with clients in various industries makes us the perfect partner for entrusting your indirect tax compliance and litigation matters. We offer a comprehensive blend of services both under erstwhile indirect tax regime as well as under the Goods and Service Tax.
KGST, CST, KVAT, KML, etc.
We have been providing compliance services including obtaining licence/registration, filing of returns, handling audits and other compliance related services under the Kerala General Sales Tax Act, 1963, Central Sales tax Act, 1956, Kerala Value Added Tax Act, 2003, Luxuries Tax and Kerala Money Lenders Act, 1958. Apart from the compliance services, we have been handling adjudication/ assessments, departmental audits and representation before various appellate forums.
We also provide value added services such as reviewing their compliance, consulting and advisory services to our clients to effectively manage compliance requirements, implement innovative tax planning and optimize their taxes.
The Government of Kerala has unveiled an Amnesty Scheme, 2020 to settle outstanding tax dues pertaining to the period before GST introduction. The Amnesty scheme will be applicable for all pending tax arrears including cases in appeals (except arrears under KGST from 2005 onwards). The scheme shall apply to the outstanding dues under following Statutes such as:
- Kerala Value Added Tax Act,
- Central Sales Tax Act,
- Tax on Luxuries Act,
- Kerala Surcharges Act,
- Kerala Agriculture Income Tax Act, and
- Kerala General Sales Tax Act.
We also provide consulting and advisory services in relation to the Amnesty Scheme and assist our clients to apply under the scheme to settle their pending litigation.
Central Excise and Service Tax
We have been rendering a range of services under the erstwhile Central Excise and Service Tax. Central Excise and Service Tax was applicable to manufacturers and service providers respectively. Compliance services include taking registration, filing returns and audits. We also provide consulting and advisory services to assist our clients to meet compliance requirements in time, maintain records and implement effective tax planning.
Our team is highly skilled in handling assessment under central excise and service tax and also in representing before the appellate authorities. Recently, the Government of India launched Sabka Vishwas Legacy Dispute Resolution Scheme in 2019 to enable tax payers to settle the pre-GST issues under Central Excise and Service Tax. We have assisted our clients to file applications under the SVLDRS scheme and represent them before the designated authorities as required under the scheme.
Goods and Services Tax
With effect from 1st July, 2017, Goods and Services Tax was implemented in India which has drastically changed the way of doing business. It has thrown up several challenges for the business entities as the law is relatively new and several amendments have been taking place at a rapid pace. However, the introduction of GST has opened up new avenues for tax planning for the businesses. We have been at the forefront since the inception of GST assisting our clients in understanding the new laws and explore the opportunities available for tax planning.
Our partners have done extensive research to assimilate the finer nuances and intricacies under the new law. We, at K.V.Venkitaraman & Co. have conducted numerous seminars, workshops and discussions to spread awareness and share our knowledge to our team, professional colleagues, clients and community. Our in-depth knowledge along with 40 years of experience in handling indirect tax law across the industries provides us an added edge to providing value-added services. These services include:
- GST advisory and compliance services such as obtaining registration, filing returns.
- Review of GST compliance on periodic basis.
- GST advisory, consulting and legal opinions.
- Obtaining Refund under section 54 in case of Export, inverted duty structure, etc.
- Handling assessment proceedings including provisional assessment under section 60, scrutiny of returns under section 61, best-judgement assessment under section 63 and section 64 and summons under section 70.
- Handling demand and recovery proceedings including filing replies to Show Cause Notice under section 73 and section 74, recovery under section 79, representation before Central and State GST authorities and so on.
- Handling detention, search and seizure of goods and conveyance under section 129.
- Handling department audit under section 65.
- Appeals before first appellate authorities and GST appellate tribunal.
- Representation before authority for advance ruling and appellate authority for Advance Ruling.