Indirect Tax

KPMG in India is an approved GSP service provider

Taxes are the primary source of income for governments around the world. In India, indirect taxes contribute a major portion to the revenue of both Central and state governments.

India being a federal country, has adopted a dual GST structure wherein multiple rates are being levied on goods and services to meet the interests of various states. Post introduction of GST on 01 July 2017, the Government issued various clarifications and amendments in the GST law, including introduction of applicability of e-invoicing, full matching of input tax credit, etc., which require constant monitoring of such changes by the businesses, which in turn calls for changes in their systems and processes. Businesses are expected to be aware of the GST implications that affect their dynamic business models and comply with statutory compliance requirements.

It is no secret that the focus of the Indian government today is to make India as the manufacturing destination of the world, in line with its “Make in India” and “AtmaNirbhar Bharat” agenda. To achieve this objective, Central government is increasing customs duties on various final products and simultaneously reducing customs duties on raw materials. In addition, Central government has also launched Production Linked Incentives (PLI) schemes for various sectors and is also entering into new free trade agreements (FTA) such as Comprehensive Economic Partnership Agreement (CEPA) between India and United Arab Emirates (UAE). Besides Central government initiatives, state governments also provide various incentives to businesses on setting up manufacturing facilities in their state.

The journey of introducing such initiates till date has been a commendable one and is thereby moving India closer to achieving its objectives.

Why select KPMG in India?

It is beneficial for businesses to avail the benefit of various incentives given by Central government and state governments. In order to avail the benefits under the various schemes, businesses are not only required perform feasibility analysis but also would require doing the various compliances at the time of filing application for selection and disbursement of incentives.

We, at KPMG in India, have a team of experienced indirect tax professionals with wide-ranging experience and in-depth knowledge on the subject. We can help clients in all the above aspects wherein we offer a broad range of services including indirect tax planning, compliance assistance, indirect tax outsourcing, representation and litigation support, assistance in obtaining incentives under PLI schemes, various Central government schemes linked to investments in India and state incentive schemes, etc.

The indirect tax services that we offer also include the following:

GST/customs advisory and representation
GST digital compliance assistance (ASP) – KPMG GST Compliance Pilot
GSP services
Technology enabled GST Diagnostic review - Tax Intelligence Solution (TIS)
Indirect tax health check
Assistance in investigations / tax dispute
Retainership

Customs and foreign trade policy assistance
EPC structuring
State incentives related assistance
Production Linked Incentives related assistance
Other greenfield/ brownfield expansion related incentives
Private bonded warehouse and special warehousing licence services
GST credit analysis

Indirect Tax

The introduction of Goods and Services Tax (GST) is characterised by a marked shift from the present origin-based taxation to that of consumption-based taxation.

Goods and Services Tax

Goods and Services Tax (GST) is among the big tax reforms introduced in the history of the Indian fiscal evolution

Indirect Tax Compliance Management – Complete Indirect Tax Outsourcing

Indirect tax outsourcing covers excise, service tax, VAT and EOU/SEZ legislations, wherein KPMG in India helps the client with indirect tax compliances which inter alia include tax computation, preparation of returns, filing of returns

Indirect Tax Compliance Management – Complete Indirect

Indirect Tax Health Check

Review of a company’s data for a sample period from an indirect tax perspective to identify gaps in compliance, existing tax exposures and identify avenues for indirect tax savings, if any.

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Indirect Tax – Assistance in Tax Disputes

Analysing current tax disputes, identifying disputes with remote or no chances of success, advising on indirect tax related positions to be adopted and the way forward based on sound tax and commercial reasons, assisting in preparation of appeals and assisting counsel in proceedings at all levels, including from the stage of Tribunal, to the High Court and the Supreme Court of India

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Indirect Tax – Retainership

On-call advisory services on specific issues/queries raised in the course of day-to-day operations related to indirect taxes.

Foreign Trade Policy Assistance

Advise and assist in claiming the potential benefits on imports from specified countries under a particular FTA

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Entry Level Strategy

Study and conduct a comparative analysis of incentives available in various states under consideration and to identify the most suitable option

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EPC Structuring

Identify the probable impact on Erection, Procurement and Construction (EPC) contracts

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Trade and Customs service

An interplay of business, regulatory and compliance aspects

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Our latest thinking

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Ten years later, the Make in India initiative has transformed many sectors, redefined India’s economic strategy, and set the nation on a promising path—albeit with hurdles along the way