Taxation & Regulatory Services

International Taxation Services

Navigate global tax landscapes with our comprehensive international direct tax service which can be classified as follows:

Cross-Border Taxation Laws and Regulations: In India, cross-border taxation is governed by provisions in the Income Tax Act, of 1961, and international treaties. Key aspects include Double Taxation Avoidance Agreements (DTAAs) to mitigate double taxation, Transfer Pricing Regulations to ensure fair pricing in inter-company transactions, and rules for Controlled Foreign Companies to curb profit shifting.

The landscape of our service offerings encompasses the following:
Advisory and assistance for entering the Indian market and setting up entities
Structuring for inbound and outbound investments
Funding solutions for cross-border investments and acquisitions
Compliance and reporting obligations

Expatriate Services: We provide a comprehensive analysis on the tax and regulatory implications on seconding an expatriate in India. The advice usually covers Permanent Establishment issues, tax efficient salary structure advice, the applicability of social security contributions, foreign exchange issues, Double Taxation Avoidance Agreement and other tax compliance requirements including but not limited to Obtaining FRRO Registration (Foreign Regional Registration Offices) and Computing Withholding taxes and making tax equalization statements.

Advance Pricing Agreement (APA)

APA is an agreement between the tax authority and the taxpayer through fixing the transfer pricing method after finalizing the terms and conditions of the APA, which has been applied for a specific period maximum of 5 years.

Types of APA

Unilateral Advance Pricing Agreement (UAPA): A tax arrangement between a taxpayer and a single tax authority to set transfer pricing rules for intercompany transactions.
Bilateral Advance Pricing Agreement (BAPA): An agreement between a taxpayer and two tax authorities to establish transfer pricing rules, addressing potential tax issues in both jurisdictions.
Multilateral Advance Pricing Agreement (MAPA): A transfer pricing agreement involving three or more tax authorities to resolve pricing issues and ensure compliance across multiple jurisdictions.

Our range of services includes the following:

Assistance in evaluating & forming of strategy for the APA filing of an application for the APA Tax Authority;
Assistance in representation before the tax authorities for negotiations and other matters related to APA.
Assistance in compliance after getting the agreement signed with the CBDT.

Transfer Pricing Services

Transfer pricing is a key component of where business and tax intersect for multinational companies. Intercompany pricing has faced huge challenges in the ever-evolving legal and geopolitical landscape.

The broad categories of services include:

Design and planning of related party transactions and arrangements
Assistance in maintaining the transfer pricing documentation, viz, report in Form 3CEB, country by country reporting, master file, transfer pricing study report as required by the Indian Transfer Pricing regulations, and filing of the same with the Indian Revenue Authorities;
Advice on tax-effective supply chain models
Controversy management, including representation for audits, litigation support and assistance with competent authority negotiations
Assistance on Advance Pricing Agreements and other alternate dispute resolution mechanisms

Corporate Tax

The Indian taxation system has experienced numerous reforms, posing domestic and international challenges for businesses. Navigating the complexities of tax to enhance business value is a crucial aspect of significant business decisions. Organizations need professional tax services to keep up with the ongoing changes in the tax and regulatory landscape.

ASC is a leading provider in the Corporate tax compliance sector. Leveraging our global network of member firms, we offer extensive coverage around the world. We provide domestic tax compliance services for single entities and a streamlined 'one-stop-shop' solution for our multinational clients. The broad categories of services include:

Tax Advisory

Assistance with meeting statutory compliance requirements.
Tax diagnostic reviews to identify uncertain tax positions and implement effective risk mitigation strategies.
Health checks for tax withholding practices.
Strategies for minimizing and optimizing taxes, including identifying available deductions and other planning opportunities.
Guidance on enhancing capital structure and optimizing the debt-equity ratio.
Tax advice and optimization strategies for transactions such as EPC and turnkey contracts.
Assessment of ICDS applicability and related disclosure requirements.
Review of Ind-AS applicability and necessary actions.
Evaluation of the applicability of POEM (Place of Effective Management).
Advice on the applicability of GAAR (General Anti-Avoidance Rules).
Expert assistance in streamlining tax refunds and resolving demand settlements.

Tax Compliance

Assistance in the preparation and filing of withholding tax returns, corporate tax returns, or overseas entity tax returns in India.
Assistance in preparation and advice on advance tax payments and optimization.
Assistance in registering on the e-filing Portal for ITR Filing and Tax Deductor and Collector including but not limited to Permanent Account Number (PAN) and Tax Deduction at Source (TDS) etc.

Tax Representation and Litigation Services

Representation of clients at various levels i.e. Assessment proceedings, CIT(Appeals), ITAT, DRP, AAR and APA and support during High Court and Supreme Court litigation

Trust, Family Office & Succession Planning

Increasing trust registration and leveraging tax benefits in India can significantly enhance a trust's financial efficiency. Registering a trust offers legal recognition and eligibility for various tax exemptions, including income tax benefits under Section 12A and 80G of the Income Tax Act, which can provide deductions to donors. Additionally, trusts can benefit from reduced tax rates on certain types of income and exemptions from wealth tax. Proper registration and adherence to regulatory requirements are crucial for maximizing these advantages.

ASC can facilitate trust registration in India by providing expert legal guidance on succession and estate planning, preparing and filing necessary documentation, and ensuring compliance with regulatory requirements. Our services also include advice on combining various legal structures to protect family wealth from personal and legal risks, setting up and managing private family trusts and other holding structures, and establishing effective governance frameworks to ensure the welfare and maintenance of family members while facilitating the smooth transfer of control and assets to the next generation.

ASC can help establish the Trust and ensure compliance with the specified type of Trust as outlined below.

Public/ Charitable Trust
Business Trust
Private/Family Trust
Other Trusts: Gratuity Trust, Employee Welfare Trust

Achieving direct tax compliance is crucial for safeguarding your financial health and avoiding unnecessary risks. Trust us to navigate the complexities, ensuring accuracy and peace of mind as you focus on your core business objectives

GST Registration

Business Onboarding: We assist businesses in registering on the GST Portal, ensuring that all necessary documentation is submitted and processed accurately.
GST Number Acquisition: Our team helps obtain a GST Number, which is essential for legal operations and compliance with GST regulations.

GST Compliance

GST Return Filing: We manage the timely and accurate filing of GST returns, including GSTR-1, GSTR-3B, and other relevant forms.
GST Invoicing: Assistance in generating GST-compliant invoices, ensuring that all required details are included to meet legal requirements.
E-Way Bill: Support in generating and managing E-Way Bills for the transportation of goods, ensuring compliance with the latest regulations.
Handling Queries: Addressing any GST-related queries and providing expert guidance on compliance issues.

GST Litigation Handling and Advisory Services:

Broad Impact Assessment: Examining the various effects that GST litigation may have on your company while recognizing any hazards or unintended repercussions.
Short-List Realistic Analysis: Assessing practical solutions for resolving disputes in light of the particulars of each situation.
Execution Assistance: offering assistance, such as procedural direction and documentation, in carrying out litigation strategy.
Evolution Management: overseeing the development of GST lawsuit cases and modifying plans of action as necessary to take advantage of evolving situations.
Client representation: representing you in GST disputes and liaising with authorities on your behalf.
Dispute Resolution: Handling and settling disagreements over assessments and GST compliance while guaranteeing a speedy and equitable conclusion.

GST Refund and Demand Settlement

End-to-End Solution: providing a full range of services, such as preparation, submission, and follow-up, for handling GST refund applications.
Managing Tax Requests: managing unpaid tax requests, settling disputes, and guaranteeing adherence to refund and demand protocols.

GST E-Invoice and E-Way Bill

API Integration: We offer smooth API integration for e-invoicing by utilizing our relationships with different GSPs.
E-Invoice Preparation: Helping to ensure that E-Invoices are prepared and sent in accordance with GST invoicing laws.
Prompt E-Way Bill Generation: Assisting entities in producing E-Way Bills on time while managing associated guidelines and restrictions.

GST Health Check-Up

Delivering GST health check up services from which organizations can take the required actions to avoid receiving GST notices.
Our GST experts analyze the client’s documents and look for issues and concerns to present an observation Project Report.

GST Annual Return and GST Audit

Serving the organizations in compliance, annual return services will provide relief from the last date of GST return filing.
ASC will provide technical assistance and representative GST services during a departmental audit

Read More: GST Annual Return and GST Audit

General Advisory Services

Expert advisory for navigating Customs and Foreign Trade Policy ensures compliance and optimizes your international trade strategy including but not limited to advising and assisting in claiming the potential benefits on imports from specified countries under a particular FTA and availing incentives on export of goods or services from India under various schemes of FTP.

Export Incentive Scheme

Assistance in maximizing your benefits with our guidance on Export Incentive Scheme under Customs and Foreign Trade Policy such as Advance Authorisation (AA), Duty Free Import Authorisation (DFIA), Export Promotion Capital Goods (EPCG Scheme), Deemed Exports Status Holder Certificate Interest Equalization Scheme (IES), Market Access Initiative (MAI) Scheme, Duty Drawback Refund of Duties and Taxes on Exported Products (RoDTEP Scheme) Export of Apparel/Garments and made-ups (RosCTL).

Duty Exemption & Remission Schemes

Leverage our expertise in Duty Exemption and Remission Schemes such as the Advance Authorisation Scheme and Duty-Free Import Authorisation Schemeto reduce costs and enhance efficiency.

Classification & Valuations

Offering precise tariff classification under Custom Tariff heads (CTH) and accurate value assessment to ensure compliance with customs regulations, including managing Anti-Dumping Duty obligations

Authorizations & Certifications

Streamline your compliance with our expert support for authorizations and certifications under Customs and Foreign Trade Policy including but not limited to authority for SCOMET (Special Chemicals, Organisms, Materials, Equipment and Technologies) and Authorized Economic Operator (AEO) and certification of export firms as “Status Holder"

Free Trade Agreements and Preferential Trade Arrangements

Offering expert consultation on Free Trade Agreements (FTAs) and Preferential Trade Arrangements (PTAs), ensuring compliance and maximizing trade benefits.

Dispute Resolution Services

Offering complete-service mediation, arbitration, and legal support for disputes involving Customs and Foreign Trade Policy, including the Directorate of Revenue Intelligence (DRI), which is part of the Central Board of Indirect Taxes and Customs (CBIC), the Department of Revenue, the Directorate General of Foreign Trade, the Special Investigation and Intelligence Branch, and other customs authorities.

Let’s turn global opportunities into your competitive edge—partner with us for expert foreign trade policy solutions and elevate your international success.

FEMA Compliance Services

Regulatory Framework and Advisory: Guidance on FEMA regulations, including those related to Foreign Direct Investments (FDI), foreign exchange transactions, and current account transactions including but not limited to Overseas Direct Investment (ODI) and External Commercial Borrowing (ECB) from overseas and keeping businesses informed about changes in FEMA rules and regulations.

Documentation and Reporting: Assistance in preparing and filing various FEMA-related forms and returns such as:

Form FC-GPR (Foreign Currency-Gross Provisional Return): For reporting foreign investments in Indian companies.
Form FC-TRS (Foreign Currency-Transfer of Shares): For reporting the transfer of shares between residents and non-residents.
Form FC (Financial Commitment): For reporting of Overseas Direct Investment by Indian entities/Individuals overseas.
Form APR (Annual Performance Report): Annual report on Overseas Direct Investment by Indian entities and individuals abroad.
Form FLA (Annual Returns on Foreign Liabilities and Assets) for reporting of Foreign Liabilities and Assets held by Indian entities overseas.
Form ECB-2 (External Commercial Borrowing) Monthly Report of External Commercial Borrowing by Indian Companies.
Other FEMA forms. Other routine and transaction-based forms such as Downstream investment or issuance of Commercial Notes, Form LLP 1 and 2 w.r.t. FDI received by LLP or transfer of stake, Form ESOP, etc.

Representation and Regulatory Liaison: Liaison between the entity and regulatory authorities such as Authorised Dealer Bank and RBI for any FEMA-related matters including FEMA Compliance, regularisation of transactions and obtaining of FDI and ODI approval.

FCRA Registration

In today’s world, with an increased global focus on social and environmental issues, companies are moving beyond profit to actively contribute to social, economic, cultural, and environmental progress.

For organizations in India aiming to receive foreign donations to support these initiatives, Foreign Contribution Regulation Act (FCRA) registration is essential. This registration ensures that foreign funds are used for lawful purposes and adhere to regulatory standards.

What we offer

Registration and Renewal or FCRA Registration
Prior Permission obtainment for foreign donations
Preparation of Annual Activity report for NGO, Trust or society established in India
Preparation of Project report of NGO, Trust or society established in India
Regulatory Liaison with the Ministry of Home Affairs.

Trade License registration

A trade license is an official document or certificate that authorizes an individual or entity to start and operate a specific type of business in a designated area in the state. This license is issued by the Municipal Corporation of the respective state.

State governments require a trade license for conducting specific businesses or trades in designated areas to ensure that all operations adhere to ethical standards and prevent unethical practices. The professional team at ASC can assist with obtaining and renewing registrations across India efficiently and smoothly.

Process for obtaining a trade license:

- - Visit the Licensing Department: Approach the Municipal Cooperation and visit the licensing department to gather information and instructions.
  - Assist in Filling the Application Form: Receive assistance with completing the application form accurately.
  - Prepare and Arrange Supporting Documents: Collect and organize all necessary supporting documents required for the application.
  - Submit the Application: Apply either manually or through e-filing, depending on the state-specific requirements.
  - Regulatory Liaison and Obtain Trade License Registration Number/Certificate: Engage with regulatory authorities to follow up on the application status and obtain the trade license registration number or certificate.

FSSAI Registration

FSSAI (Food Safety and Standards Authority of India) registration is required for businesses involved in the food industry to ensure compliance with food safety regulations. The scope for FSSAI registration covers a broad range of entities and activities. ASC can help with acquiring the following FSSAI licenses. Our team ensures a smooth and efficient process for obtaining these essential licenses: -

FSSAI Basic Registration: Required for Food business operator (FBO) with an annual turnover below Rs. 12 Lakhs.
FSSAI State License: Required for FBOs with an annual turnover above Rs. 12 Lakhs but below Rs. 20 crores; and,
FSSAI Central License: Required for FBOs with an annual turnover exceeding Rs. 20 crores.

MSME Registration

MSME registration is an official process for acknowledging small and medium-sized enterprises under India's Ministry of Micro, Small, and Medium Enterprises. It offers businesses access to government schemes, financial aid, and tax benefits. The registration is completed online via the Udyam Registration Portal, where businesses provide their details and documents. Experts at ASC can assist in obtaining and amending MSME registration efficiently and smoothly.

Import-Export Code (IEC) Registration

IEC is mandatory for entities involved in importing or exporting goods and specific services from India. The process involves applying to the Directorate General of Foreign Trade (DGFT) with necessary documents, such as proof of business, identity, address, bank details, etc. Once approved, the IEC is issued, allowing businesses to import and export goods legally. This registration needs to be renewed periodically and updated with any changes in business details.

Experts at ASC can assist in obtaining IEC registration or its renewal efficiently and smoothly. Ensuring regulatory compliance is crucial for smooth business operations and avoiding legal complications, and we are here to help you navigate these requirements with ease.

Company Incorporation & Statutory Registrations

We offer complete services for company incorporation and statutory registrations in India, including selecting the appropriate entity structure—whether it’s a;-

Private Limited Company (PLC) including wholly owned foreign Subsidiary or Subsidiary company;
Public Limited Company;
Limited Liability Partnership (LLP),
Branch Office (BO), Project Office (PO), and Liaison Office (LO) of body corporate situated outside India
Registered/Reregistered Partnership Firm, or Society.

Our services cover the preparation and filing of essential documents including but not limited to reserving the desired name and preparation of a Memorandum of Association, Articles of Association, and Partnership Agreement, and securing key registrations such as PAN, TAN, GST, EPFO, and ESI.

Our expert team ensures smooth compliance with regulatory requirements, from initial setup to ongoing maintenance, allowing you to focus on your business's growth and operations.

Corporate Secretarial Services

Our secretarial services, in compliance with the Companies Act, Limited Liability Act, and other relevant regulations, ensure rigorous adherence to corporate governance standards. We specialize in managing secretarial compliance requirements, including:

Assistance in organizing Board, Committee, and General Meetings and recording of its minutes.
Preparing and maintaining statutory records/registers.
Filing event-based and annual forms including XBRL.
Board of Directors restructuring and reporting.
Assistance in dematerialisation securities
Preparation of documents related to funding rounds including private placements, preferential allotments, rights issues, and its reporting.
Preparation of documents related to Shareholding transfers including Resident to Non-Resident or vice versa.
Reporting of Significant Beneficial Owner.
ESOP, Buyback or Dividend on shares.
Inter-corporate Borrowing.
Statutory reporting like a return of Deposit, Return of MSME, Directors KYC including DSC preparation.
Preparation of policy and necessary filing under POSH (Prevention of Sexual Harassment) Act.
Advisory and preparation of policy and necessary filing for Corporate Social Responsibility (CSR).
Closure of entities, such as winding off, striking off, liquidation, or fast track exit.

Our expertise ensures businesses meet legal requirements, efficiently manage corporate documentation, and adhere to best practices in governance.

SEBI compliance Services

We offer specialized Securities and Exchange Board of India (SEBI compliance) services to ensure adherence to the rule and regulations. Our services include managing Quarterly/half yearly/yearly requirements or compliance disclosure requirements, filing reports, and ensuring timely compliance with SEBI guidelines for listed companies and market participants. We also assist with regulatory approvals, corporate governance practices, and compliance audits to mitigate risks and maintain regulatory integrity.

Intellectual Property Rights (IPR) services

We provide comprehensive Intellectual Property Rights (IPR) services, including registration, protection, and enforcement of patents, trademarks, copyrights, and designs. We also offer strategic advice on IP valuation, licensing, and resolving disputes, ensuring your intellectual assets are effectively protected and leveraged including but not limited to Trademark & Patent Search, Trademark & Patent status, and legal intelligence in IPR Servcies.

Labour Law Services

Labour law compliance in India involves adhering to regulations related to wages, working conditions, and employee benefits under various statutes like the Payment of Wages Act, Factories Act, and Employees' Provident Funds Act. Our labour law services comprehensively cover

Employees' Provident Fund Organisation (EPFO)
Employees' State Insurance Corporation (ESIC)
Factories Act Compliance
Professional Tax (PT) Compliance including PTEC and PTRC
Shops and Establishment
Compliance under other acts like the Contract Labour Act, Bonus Act, Gratuity Act and Maternity Act

We assist with registering your business with authorities under EPFO, ESIC, Factories Act, Shops and Establishment and Professional Tax, etc. Also ensuring timely social contributions and compliance with employee welfare regulations. Our services help streamline compliance processes, reduce regulatory risks, and ensure your business adheres to all statutory obligations.

Contract Management Services

Contracts play a vital role in fostering strong business relationships. ASC can support in forming procurement, legal, finance, and M&A departments in balancing speed with risk management. Our expert professionals are adept at coordinating various stakeholders and providing a thorough view of both commercial and legal considerations.

Our contract management services streamline the entire process, from drafting and review of contracts, negotiation and approval of contracts to overseeing their execution and compliance followed by termination or renewal of contract. We ensure contracts are legally sound and aligned with your business objectives, manage renewals and amendments, and track key milestones and obligations.

Corporate Legal Advisory Services

Our corporate legal services offer thorough support for businesses, including expert advice on corporate governance, regulatory compliance, and managing transactions such as mergers, acquisitions, and funding rounds.

We also handle the preparation of Share Subscription Agreements (SSA), Shareholder Agreements (SHA), Employment Contracts, Trade Agreements, and legal due diligence (LDD). Additionally, we assist with drafting and reviewing any business contracts and resolving disputes with arbitration and conciliation.

Our secretarial and legal services are dedicated to upholding regulatory compliance, safeguarding your legal interests, and ensuring rigorous adherence to statutory requirements, thereby enabling you to navigate the complexities of business law with assured legal protection and operational excellence