Account & Tax Services
Tax can be a very complex procedure for a business as it is next to impossible for an entrepreneur to look into his/her core working as well as remind himself of filing the taxes on time. With such dynamically behaving business essential it is better that this duty is assigned to a professional rather than handing it over to someone naive. The tax slab is an ongoing affair and as a businessman, it is your foremost duty of giving your taxes on time along with full integrity of the same.
OWizard Lifestyle brings you a team of highly skilled and professionally trained people that will be there to help you out with any tax-related issue. We excel in many forms of tax that includes new tax regulations, current law tax and many more. Wizard Lifestyle uses in-depth knowledge along with experience in understanding the complex rules and regulations and later on guiding you to each step of the planning process. Businesses can approach us irrespective of their enterprise-scale and can very well assign all the work of the accounting department.
Why Us?
Tax Compilation
There could be an end number of forms lined up in this tax process which makes it even more complicated to understand. But do not worry, we at Wizard Lifestyle take care of it all by offering you the quality of service you need, that to from an expert.
On-Time
During the tax season, or tax service team will review the financial reports
along with all other necessary needed information. As you need to clear
all your tax returns and we will secure you with the overall tax benefits
that will be obtained for your future needs.
Planning of Taxes
The ultimate goal that Wizard Lifestyle service providers will be working
on reducing the liability of your established enterprise. So, we work with
clients to make them pay the least amount of tax that is needed to be filed
in the entire process
Tax Hindrance
Filing of taxes can come with problems but we are there to solve it as
efficiently as possible. The common mistakes can be a delay in tax filing,
more liability that is due or insufficient to carry out the tax process etc.
However, Wizard Lifestyle will work it out for you by looking into all the
possible solutions
Scope of Taxation Services
In Taxation we provide comprehensive advice and assistance on various tax levies including Goods and Services Tax (GST), Customs duty and Income Tax. We offer expert advice on all aspects of the foreign trade policy, free trade agreements, cross-border supply chains and anti-dumping duties. We also provide litigation support before adjudication and appellate authorities up to the Tribunal level and brief counsels for matters beyond the Tribunal.
GST Advisory
Advising on applicability of taxes on various transactions undertaken or proposed to be undertaken
Advising on routine issues related to classification, valuation, place of supply, claim of tax benefits and admissibility of tax benefits and exemptions
Opinions on regular tax issues faced by Company
Analysing registration requirements of the company considering the business operations carried out from such premise
Analysing requirement of cross charge among multiple registrations of the company
Indirect tax review/health check/due diligence
Review of GST implementation already done by the Company and various compliances being followed by the Company in accordance with the GST laws
Review of each business process such as outward supplies, procurements, stock transfers, exports, refunds, job work, ISD and cross-charge, and others
Validation of tax positions adopted by the Company on various revenue streams as well as expenses subject to tax under reverse charge mechanism
Undertaking comprehensive review of the business operations to identify tax optimisation opportunities and any compliance gaps
Conducting detailed indirect tax due diligence (buy side and sell side)
GST Compliance
Managing entire indirect tax compliances of the company on all-India basis
Strong in-house tax team to support the Company across locations
Extensive control checks for ensuring accuracy and completeness of data and exhaustive validation checks for return finalisation
Anti-profiteering study
Detail analysis of the business functions to check the applicability of Anti-profiteering provisions to the Company
Study of the markets and industry in which the Company operates to evaluate alternative mechanism to ensure passing on of benefits and compliance with GST laws
Analysis of the procurement and sales structure of the Company and its comparison with the erstwhile indirect tax regime to identify the benefit arising due to GST
Assistance on any ongoing enquiry or investigation initiated
GST Refunds
Review of documents against which the Company made exports of goods/ services outside India
Assistance in reconciliation of any mismatch arising between the data reported in GST returns (Form GSTR-1 & GSTR-3B) and corresponding Shipping Bills with export data as reflected on Customs EDI portal
Assistance in preparation of the application for refund claim along with requisite annexures for submission with the tax authorities
Discussion with the Company in relation to various documents to be submitted with the tax authorities and the procedure to be followed
GST Audit
Assistance in relation to compulsory yearly GST audit of the Company
Guidance in collation of documents and information for the purpose of filing annual return and audit report
Review of data collated and reconciliations prepared
Assistance in preparation and filing of GST annual return and audit report
Litigation support
Mapping existing indirect tax litigation on various parameters like issue and region (in case of multiple plants/ offices litigation)
Formulate strategy for speedy and expeditious disposal of cases by inter alia filing applications of early hearing and liaising/ meeting with tax authorities on regular basis to revive old pending litigation for their disposal
Providing risk-exposure of pending litigation and identification of cases which may lead to litigation
Drafting of replies to show cause notices, appeals, writ petitions, etc.
Assistance in representation before the adjudicating and appellate authorities, up to the Tribunal
Advance ruling
Discussion with the management on areas where advance ruling application can be filed
Assistance in preparation and filing of the application
Appearing before the advance ruling authority
Income Tax
Includes advisory and filing on income tax return of the assesse
Also includes providing services relating to tax assessments, tax advisory, structuring and investment strategy, due diligence and litigation
