Tax Compliance Review at LKS
For complying with the requirements of complex provisions of Direct and Indirect tax laws, there is a need to get a review of the status of compliance, independently checked by an expert.
We identify not only areas of exposure which may result into a potential litigation with the Revenue department, but also opportunities in terms of any exemption or benefit from the Government.
We have successfully completed more than 250 TCRs for companies - small, medium and big, in the last few years. The type of companies can be broadly categorized as under:
- Area-based exemption zones (e.g. Himachal Pradesh, Jammu, etc.).
- Electronic Hardware Technology Park units (EHTP Units).
- Export Oriented Units (EOUs).
- Manufacturers of dutiable & exempted goods having presence in a single location.
- Manufacturers of dutiable & exempted goods having presence in multiple locations across India.
- Manufacturers of only exempted goods having peculiar type of issues.
- Public Sector Undertakings (like ONGC, Oil India, BPCL, SAIL, IOCL, etc.,).
- Service providers (not dealing with any goods) having operations in multiple States.
- Service providers dealing only with foreign clients (Exporters of Service).
- Software Technology Park units (STP units).
- Special Economic Zone units (SEZ Units).
- Traders of taxable and exempted goods (i.e., Trading units).
Notable recent assignments
We have recently successfully completed the TCR assignments for the following companies:
- Bharath Petroleum Corporation Limited
- Dabur India Limited
- Dalmia Group
- EID Parry Group
- Jindal Steel & Power Group
- LG Electronics India Private Limited
- ONGC Limited
- Pepsico India Holdings
- Sony India Ltd.
- Steel Authority of India Limited (SAIL)
10 September 2024
