Clasis Law

Thursday, 29 June 2017

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Tax

Tax

Our limited tax practice involves advise on structuring of investments and advise in relation to indirect taxes including registrations for entities investing in India, setting up presence in India or having existing operations. Owing to the federal structure of the Indian constitution, the indirect tax levy in India is quiet complex, with multi-layered levies both at the Central as well as the State level. The Central government levies tax on goods at the point of import (Customs duty), manufacture (Excise duty), inter-state sales (Central Sales Tax or CST), and on provision of services (Service tax). The states, on the other hand, have been vested with powers to levy tax on sale of goods within the state (Value Added Tax or VAT), and on the entry of goods into the state (Entry tax), under the respective state laws. The team provides advice on the limited tax legislations on aspects impacting business including structuring and drafting of contracts, evaluating the applicability of various indirect taxes. In addition to advisory work, the team has also been involved extensively in review, due diligence, litigation and representation before the relevant authorities.