The taxes are collected by central and state government as per the constitution of law. The direct taxes are the taxes which are paid by the citizen to the government. It is a tax, which is borne by individuals and organizations applied by the government, such as income tax, wealth tax, corporate tax and many more. The indirect taxes are the taxes, which are applied to the sale of goods and services. The examples of such taxes are service tax, exercise duty and so on. These taxes are paid by an intermediary, which is taken from end users.
In India, every average Indian pay taxes for something or the other and many times, the individual is not even aware of the reason for which he needs to pay taxes. For such matters, there are many authorized companies that guide the business units and individual corporate firms on the basis of taxes, the total amount, reason for which the tax is being paid. In India, every business, be it small or big needs to pay several types of taxes. To adhere to the complicated tax structure and norms, it is highly suggested to seek the direct and indirect taxation related services
Services offered by the service providers
They can offer a varied number of services, like
- Tax registration,
- Tax return filing,
- Tax audit,
- Tax consultation,
- Tax hearing
Other services are
- Calculation of tax
- Filing of fixed service tax returns and other defiance
- Preparation of records for tax credit and other under the law
- Advice-giving services for taxations, appeals, etc.
- Advice-giving services for tax preparation and minimization
On obtaining the tax registration, a business would need to file periodical returns. The providers of direct and indirect taxation related service provide all services relating to the service tax regulation in India.
Vital role of the service providers
The consultants are anticipated to fulfill certain roles. Some of the important roles are
- Keep client’s tax to the minimum,
- Keep track of the latest schemes provided by different companies, banks, and organizations,
- Provide suggestions which are according to the financial ability of the clients.
- Give suggestions which are of their best policy.
- Finally, must provide the necessary information to ensure the client is following all the legalities.
There are numerous service providers who assure the best service. But it would be a matter of taking a risk if you approach any novice in the field. Search for a firm which has
- Unmatched resources to offer the best services of taxation to the clients
- Professionals who attained vast expertise in different sectors
- Qualified staff with educational backgrounds like law, commerce, accounts
• A sound infrastructural base that assures offer timely and quality services