» The Indirect tax regime
in India is a labyrinth of various laws and regulations, including
State specific laws. Our indirect tax professionals with their
wide-ranging experience and in-depth knowledge help clients in
effective planning, which in turn helps in cost minimization.
Why indirect tax matters
» The flow of money represented
by indirect taxes can account for up to a third of a company's
annual turnover. Yet its existence is barely detectable in an
annual report, because indirect tax payments and recoveries tend
to be managed by billing and purchasing departments rather than
as a tax function. This low profile can lead to cash flow squeezes,
underpayments and penalties for non-compliance. The indirect tax
burden is, in short, much larger than it seems.
Change of role of tax function
» Because of increase in
cross board trade e.g. M & A, Multinational Co-operation and
electronic commerce and constant flux in legislative environment
due to the introduction of new legislations, or changes in the
existing provisions of law and further pressure of “sustainable
development” of the economic, social and environmental dimensions
has forced a change in the role of tax functionary from traditional
role of “cost centre” to the increased focus as business
and financial performer in addition to meeting traditional compliance
and reporting obligation. Now as a tax function one has to identify
and anticipate potential risk and its effective management. Tax
function plays either an influencer or key member role in the
areas of strategy development, planning, execution & post
execution monitoring of business. The role and responsibilities
of the tax function necessitates that it is closely integrated
with the company’s overall business strategy and risk portfolio
and play an integral part of risk management.
MeLIORIS is to make better, to improve,
to heal or solve a problem.
» MeLIORIS's
Indirect Tax Practice is your business partner in addressing fiscal
challenges through the core value proposition of the strategic
management of indirect taxes. We offer comprehensive advice and
assistance in all areas of indirect taxes from customs to central
excise, from service tax to works contract tax and sales tax and
now, VAT. All this is backed by litigation support at every stage.
We also offer expertise on all aspects of trade policy, including
on free trade agreements, anti dumping duties and cross border
supply chains.
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