India has a well structured tax system wherein power to levy taxes are clearly demarcated by the constitution between the Central Government, the State Governments and local bodies. The taxes in India can broadly be classified into Direct Taxation and Indirect Taxation. Some of the major taxes levied by the Central Government are as classified below:
Recently, to make the Indian taxation system more dynamic in terms of effective administration, efficient tax collection and to reduce the cascading effect of taxes, it is proposed to introduce Goods and Services Tax (GST) which would be a comprehensive tax on the supply of goods and services.
Suresh Surana & Assoicates is a leading service provider in matters of direct and indirect taxation covering the whole gamut of Indian Taxation, International Taxation, Transfer Pricing Regulations, Service Tax Regulations, Value Added Tax Regulations, Central Excise Regulations, GST transition etc. Suresh Surana & Associates also provides specialised services in areas of setting up of business in India, corporate business structuring, transaction advisory etc.
Broadly the service areas in Taxation are as under:
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