After having opted for multiple rates under the upcoming goods and services tax (GST) regime, India is now looking to keep variations in rates on the same types of products at a minimum to ensure that the tax structure does not get any more complicated. For example, all types of footwear or mobile phones could attract the same rate. “Single rate for one product group will bring simplicity in the structure and make implementation easier,” said a government official, adding that differing rate structures within one segment could lead to unnecessary disputes and litigation. GST is expected to be rolled out on july 1.
Direct Taxation compliances and Tax Planning Services
We undertake tax computations, file tax returns and agree the computations with revenue on behalf of our clients. We represent our client at tax audit, resolve tax queries and also negotiate settlement of tax liability with the relevant authorities. At Jaiswal Khandelwal & Co., we proactively manage our client’s tax obligations through ensuring effective compliance and open, transparent reporting. We also formulate and implement payroll restructuring solutions for clients, and facilitate training programs on payroll computations and structuring. We provide various advisory services on PF, ESIC, TDS, benefits in Kind and any other pension contribution on payroll structure in addition to its efficient implementation. We provide withholding Tax Management and conduct pre-audit investigations in addition to representing companies at withholding tax audits and subsequent negotiations with the revenue.
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