Dr. Sanjiv Agarwal
As the gamut of service tax expands, there is going to be ever increasing need for professionals to advise and assist the assessees. A Chartered accountant and other professionals (Advocates, CS etc.) with proper training and experience is considered to be well equipped to position in the dynamic role as an advisor and facilitator for compliances under the service tax law.
Professionals can find the emerging opportunities in relation to following areas of practice in indirect taxation and in particular Service tax-
1. Providing tax planning in Government/Commercial projects/ investments / IPRs having substantial investment
2. Registration of assessees
3. Disclosures and submissions to Department
4. Compliance of procedural aspects
5. Computation of monthly/ quarterly payment of tax/ duties
6. Return verification / filing of returns
7. Service tax review and quarterly audit
8. Review of systems and procedure before Departmental audit
9. Assistance during Departmental IAP or CAG audit
10. Opinions/ Clarifications
11. Transaction planning and structuring
12. Guidance on understanding of effect of budget/recent changes on activities
13. Filing of Refund claims of Service Tax
14. Departmental representation
15. Reply to Show Cause Notice (SCN)
16. Representation before Adjudicating Authority
17. Drafting of representation at Appellate Forums
18. Facilitation to Advocates at High Court/ Supreme Court
19. Outsourcing of Service Tax compliance activities
20. Other areas such as training / teaching, writing articles, submission / representation to the Government, etc.
Service Tax: Gateway to new Professional Opportunities
| ROLE OF PROFESSIONALS UNDER SERVICE TAX | |
| Services to the Government | Services to Service Providers |
| Timely and correct feedback on provisions of law | Proper classification of taxable services (Section65A) |
| Compliance of Law & Procedures | Help in understanding law and its correct interpretation |
| Dissemination of information to assessees | Knowledge management & training |
| Knowledge sharing with revenue officials | Tax Planning, Due Diligence |
| Help in tax collection | Representation before Appellate Authorities |
| Service tax audit | GST Preparedness |
Author Bio
Agreed with CMA Farooqui
agree with CMA farooqui ………………
Whre we get proper training regarding service tax as Tax Advocate
Sir,
I am regualr reader of your article and books. It a humble request to you please mention CMA on mentioning other finance professionals name, in this article you mention only advocates & CS.
Regards