VAT & Central Sales Tax

In India Value Added Tax (VAT) is a state matter and is imposed by the respective state governments when taxable goods are sold either directly or indirectly with in the territory of that particular state. Seller is liable to charge VAT at the specified rate on the goods sold and deposit the same to the credit of state government after adjusting tax credit available on its purchases. Most of the states have prescribed a minimum limit of turnover for the first applicability of VAT eg. in Delhi (India) VAT is applicable when local turnover exceeds Rs. 10 lac. 

When taxable goods cross geographical boundaries of a state then Central Sales Tax (CST) becomes applicable. Most of the states have not prescribed any minimum limit of turnover for the first applicability of CST and consequently becomes applicable on the very first sale itself.

What CMAindiaclub.com Offers

CMAindiaclub.com provides Sales Tax services for Delhi, Haryana, Rajasthan, Uttar Pradesh, Maharashtra state. We are also providing services in other states of India through our network. MNRS provides comprehensive advice and assistance in the following :-

  • VAT and CST Registration
  • VAT Audit
  • VAT credit Audit
  • VAT Consultancy (including Amendments, issue of various forms, Preparation & Filing of VAT and CST Return)
  • VAT and CST Appeals

Service Tax

Countries like India are increasingly becoming hub of Service Sector. Service Tax is a form of indirect tax imposed on specified services called "taxable services". Service tax cannot be levied on any service which is not included in the list of taxable services. Over the past few years, service tax been expanded to cover new services. The objective behind levying service tax is to reduce the degree of intensity of taxation on manufacturing and trade without forcing the government to compromise on the revenue needs. For the purpose of levying service tax, the value of any taxable service is the gross amount charged by the service provider for the service rendered by him after deducting abatement, if any given for that particular class of service. 

What CMAindiaclub.com Offers

CMAindiaclub.com provides comprehensive advice and assistance in the following :-

  • Service Tax Registration
  • VAT Audit
  • Service Tax Audit
  • CENVAT Audit
  • Service Tax System Development
  • Service Tax Consultancy (including Service Tax Registration, Preparation & Filing of Service Tax Return)
  • Service Tax Appeals

Excise & Custom

Central Excise duty is an indirect tax levied on manufacturing of taxable goods. In India, the manufacturers act as agents to collect and pay the duty of excise to the Government at the time of removal of goods from their factories. The duty incidence is passed on to the ultimate consumers, who bear the ultimate duty burden. 

What CMAindiaclub.com Offers

CMAindiaclub.com provides comprehensive advice and assistance in the following,

  • Excise & Custom Registration
  • Excise and Custom Audit
  • CENVAT Audit
  • Excise & Custom Duty System Development
  • Excise & Custom Appeals
  • Service Tax Consultancy (including Service Tax Registration, Preparation & Filing of Service Tax Return)
  • Service Tax Appeals

International Taxation

International taxation has got its significance due to differing tax laws of different countries or the international aspects of an individual country's tax laws on a person or business entity. Governments usually limit the scope of their income taxation in some manner territorially or provide for offsets to taxation relating to extraterritorial income. The manner of limitation generally takes the form of a territorial, residency, or exclusionary system. These variations create the potential for double taxation. Income tax systems may impose tax on local income only or on worldwide income. Generally, where worldwide income is taxed, reductions of tax or foreign credits are provided for taxes paid to other jurisdictions. Multinational corporations usually employ international tax specialists to keep their worldwide tax liabilities at minimum. With any system of taxation, it is possible to shift or re-characterize income in a manner that reduces taxation. Jurisdictions often impose rules to regulate shifting of income among commonly controlled parties, often referred to as transfer pricing rules. Agreements among governments (treaties) often attempt to determine who should be entitled to tax what.

What CMAindiaclub.com Offers

CMAindiaclub.com is well positioned to serve as an efficient and effective source for providing international tax advice and solutions. With knowledge of management systems and modern information technology our professionals discharges global tax assignments in a timely and cost effective manner.

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