Our International Tax specialists offer services that successfully align all the different areas of taxation into a benefit-driven strategy that is reflected favourably in the various financial parameters. Our people and global resources are able to help clients develop and execute business strategies quickly and effectively, with strong accountability and governance. Our practitioners blend local country technical knowledge with appropriate regional and global insight on the latest developments in tax policy, legislation and administration.
Our range of services include:
- Advice on cross border transactions.
- Advice on double tax treaties and foreign tax systems/implications.
- Tax-efficient structuring of cross border transactions.
- Advisory services in relation to the improvement/effectiveness of the cross border ‘Supply Chain’ process
- International tax dispute resolution.
Our Tax Knowledge & Solutions Team is a dedicated group of professionals, rich in experience on Tax and Regulatory matters. Our team stays constantly abreast with changes in tax policies, administration & regulations and domestic & international jurisprudence. We endeavour to identify potential threats & opportunities and advise on appropriate strategies to mitigate exposure and optimize tax incidence on our clients. We strive to develop a detailed understanding of our clients’ business ecosystem and industry sector to offer insights on sectoral developments and assist our clients to develop effective strategies and business models. We help businesses to maximize value by identifying and implementing comprehensive strategies for corporate, international and local taxes. This helps ensure that the cascading effect of all taxes together is minimal on our clients.
The firm provides clients with a complete spectrum of tax support services:
- Advisory services in terms of the Indian Income Tax Laws
- Advice on tax planning opportunities to optimize tax incidence
- Assistance in tax compliance
- Advice on business re-organization from a fiscal perspective
As India continues to embrace global innovation, adopt open systems and universal practices, global growth and disruption.
With the Government’s initiative to improve India’s ranking in the as corporations are considering India as a preferred investment destination for e of doing business, the Indian regulations are continually evolving that simplifies starting a business in India. Our exuberant team of strategy professionals are well-positioned to assist clients in devising entry strategy for international business, structuring investments and transactions with judicious use of treaties and seamless compliance with applicable laws.
Our specialized service offerings are as follows:
- Evaluating market attractiveness – We carry out specific industry studies, market assessment studies and developing industry risk models
- Evaluating market ecosystem – We assist in the evaluation by conducting Trend-analysis (buyer/supplier/competitors/regulatory body), Supply Chain Analysis, providing Competitive Intelligence Support, Competitors Profiling and Risk Mapping/Company Risk Assessment
- Evaluating entry options:
- Greenfield Investment – Assistance in regulatory and tax compliance in setting up operations.
- Assistance and advisory services on business & operational form – Representative Office, Branch Office, Project Office, Joint Venture, Owned Subsidiary etc. and assistance in obtaining requisite approvals from regulatory authorities.
- Advice on current government policies in relation to Foreign Investment (inbound) and Repatriation.
- Brownfield Investment – Identification of strategic target and assistance in transaction advisory.
Pre-transaction advisory- Strategy and identification of potential targets, commercial negotiations and valuation.
Transactional advisory- diligence and transaction structuring
The Indirect Tax regime in India comprises a plethora of laws, rules and regulations at the central as well as the state level. Our specialist team stays abreast of all the developments on tax policies, administration and key judicial pronouncements, thereby identifying threats and opportunities for providing innovative tax solutions to our clients.
Our Service Offerings Encompass the Following Indian Legislation and Rules :
- Chapter V of the Finance Act, 1994 (Service Tax Legislation)
- Central Excise Act, 1944
- The Customs Act, 1962
- Foreign Trade Policy and SEZ Regulations
Goods and Service Tax (GST)
GST, the biggest Indirect tax reform in India, has been made effective from 1 July 2017. Our services in relation to the GST inter alia include the following:
- GST implementation services in case of newly set up organizations, review of the GST implementation in case of old organizations
- Conducting Health Check / Credit reviews to identify planning opportunities and optimizing the overall indirect tax incidence;
- Undertaking due diligence reviews, both sell-side and buy-side;
- GST advisory services on all matters including stock transfers, classification, valuation, input tax credits, registration requirements, ISD, refunds, export benefits, cross charges, job work, reverse charge mechanism etc. The advisory inter alia include services such as supply chain cost optimization, review of contracts from GST perspective, recommendations on tax clauses, negotiations with vendors/ customers, drafting of indemnification clauses, advising on day to day GST issues, automation solutions in compliances, developing of SOPs for compliances
- Advice on the execution of turnkey projects / EPC Contracts involving planning at the pre-bidding stage, structuring of contracts, identification of tax optimization opportunities, devising the most tax-efficient models and comprehensive range of compliance services subsequent to the bidding stage, etc
- Conducting anti-profiteering studies and assistance in relation to anti-profiteering certification, assistance in relation to ITC – 02 certifications for transfer of credit in case of sale, merger, de-merger, amalgamation etc of entity
- End to end assistance in relation to GST enquiries and assessments, including representation before the Tax Authorities
- Preparation of application for obtaining of advance ruling and representation before the Authority for Advance Ruling/ Appellate Authority of Advance Ruling
- Drafting replies to show-cause notices and appeals, including representation before Adjudication and Appellate Fora
- Complete outsourcing of GST compliances on presence across India basis such as obtaining registrations, periodic and annual compliances, preparing reconciliations, analysing eligibility of input tax credits etc
- Assistance in relation to yearly GST Audits and credit reconciliations
- Drafting, filing and processing of refund claims such as refund of unutilized credits in case of export of goods/ services, refunds in case of inverted duty structure, a refund in case of export with payment of tax etc
- Conducting training for clients and setting up GST help desks at client locations.
Our team of experts provides a complete range of litigation support services, including:
- Developing and implementing strategies for quick resolution of issues.
- Representation before Indian tax authorities and a various appellate forum such as Commissioner (Appeals), Appellate Tribunals.
- Assistance in preparation and representation of case before High Courts and Supreme Court of India
- Assistance and representation in relation to the Advance Rulings
Our Transfer Pricing Division assists Indian and Multi-National Corporations develop and implement economically justifiable transfer pricing policies and documentation.
Our team will work closely with you, to help manage the tax impact of your domestic as well as cross-border related party transactions. Together, we will explore an effective, integrated organization-wide strategy for managing many complex Transfer Pricing issues involved with inter-company transactions involving goods, services and intangibles.
Transfer Pricing Service Offerings:
- Transfer Pricing Documentation – We assist corporations to design and implement compliance policies, and prepare robust documentation.
- Transfer Pricing Planning & Supply Chain Structuring – We provide assistance in developing and implementing viable Transfer Pricing policies, harmonization of existing Transfer Pricing policies, adopting new Transfer Pricing structures or alignment of prices with business restructuring.
- Filing of the audit report with the Indian tax authorities – we assist you with a full array of documentation services, including function, asset and risk analysis, industry overview, benchmarking study, preparation and issuance of accountant’s report, customized to your specific needs.
- Litigation Support / Transfer Pricing Controversy Management – the team will work with you to develop strategies and appropriate practices to manage the audit/appeal proceedings.
- FIN 48 Assistance – We provide assistance to determine and quantify your FIN 48 Transfer Pricing exposure and uncertain tax position.
- Advance Pricing Arrangements – We can assist preparing a robust Transfer Pricing policy aligning with business and commercial substance along with deciding on various documents and information that need to be shared with tax authorities during the course of negotiating and implementation of an APA program.
Our experienced Private Client Services team provides advisory, tax compliance and business tax planning services to high net worth individuals, their family offices, investment funds and individuals involved in commercial transactions. With the businesses going global, people and capital are crossing borders more often than ever before, which brings them closer to the reach of tax authorities and legal enforcement. Having an advisor that offers complete range of financial and tax services in the jurisdictions where you have private and business connections is instrumental.
We also offer a wide variety of services that are associated with owning, managing and preserving businesses and wealth, including asset protection, family governance services, estate and succession planning, sensitive wealth transfers and philanthropic planning. Our goal is to ensure clients’ wealth is structured effectively for long-term preservation and in compliance with the demands of regulators. In this direction, we aim to provide more than just advice – we recommend solutions and help clients implement them.
Corporate law today is a complex piece of legislation that governs the activities of not only domestic companies but also that of foreign companies setting up shop in India. At every step, corporates have to comply with the plethora of provisions contained in legislation such as the Indian Companies Act, FEMA Compliances, SEBI Regulations.
We not only provide advice on ensuring compliance with these regulations but also provide secretarial support with respect to incorporation of subsidiaries anywhere in India.
Finance forms a basic ingredient for any growth objective. We have the right blend of people with requisite skills to render corporate financial services.
Our services include the following:
- Fundraising — Venture capital and private equity.
- Advisory to Private Equity funds on fund organization, identification of opportunities, due diligence, negotiations, documentation support and transaction management services.
- Debt and private equity syndication.
- Structured Finance.
- Domestic or cross border mergers & acquisitions and joint venture financing.
- Structured products for promoter financing.
- Infrastructure, real estate funding, asset financing, project financing.
- Structured products for the balance sheet, capital structure & liquidity management.
- Convertibles, ECBs & equity-linked products.
- ‘Business valuations & fair value opinion.
Our team is fully equipped to devise financing solutions, arrange finance from various financial institutions, negotiate term-sheets and assistance in the closure of documentation for the seamless conclusion of the transaction.
We provide Risk Advisory services to assist clients enhance their risk management and stakeholder conformance while providing the foundation to achieve greater business performance. Our Risk Management team helps in better identifying, measuring and managing risk and enhancing the reliability of control systems and procedures.
Our Risk Advisory Services assist in mitigating the exposure to the business risks by proactively identifying the blind spots and helping the organization use them to its advantage. Our Services are specially designed to address the clients’ varying organizational needs. From enterprise-wide risk initiatives to corporate governance programs to specific niche service solutions, our team will work with you to create strategic, practical and effective processes to minimize organizational risks & maximize business opportunities.
A corporate’s journey to success is governed by increasingly complex and broadening regulatory requirements. We can assist you to meet these demands by providing a timely and constructive challenge to management, a robust and clear perspective to audit committees, and transparent information to your stakeholders and investors.
As a firm, we have expert knowledge and extensive experience to help with complex reporting issues involving IND-AS, IAS, US-GAAP and IFRS.
We Provide The Following Audit And Assurance Services:
- Statutory Audits, Tax audit, Reviews of Financial statements and GST Audit
- Internal Audits
- Management support for Internal Financial Controls testing and development of standard operating procedures
- Due Diligence, Forensic, Special investigation and Mystery audits
- Stock and fixed assets audits
- Accounting Advisory Services including accounting and audit support, Preparation of accounting manuals, IPO advisory, Training on audit & accounting matters etc.
- Secretarial and other Company law matters support
- Knowledge Process Outsourcing.
Statutory Audit, Tax Audit, Review of Financial statements and GST Audit
While many of the rules of business have changed, the fundamentals haven’t. Meeting investor expectations begins with the completeness, accuracy and fair presentation of information in your financial statements and disclosures. The audit is key to sustaining confidence in both your company and the financial system at large. It must keep pace with a fast-evolving corporate reporting environment – one characterised by investor scepticism and the 24/7 scrutiny of corporate information, including non-financial information. Auditing thus involves much more than just the legal obligation of certifying annual accounts. Whether annual and consolidated accounts or special audit services and certifications, having the objective judgment of external auditors makes information more reliable for all decision-makers.
Our professionals at Nangia & Co have many years’ experience, competence, industry knowledge and integrity. Our audit approach, is tailored to suit the size and nature of any organization and draws upon our extensive knowledge and talent, understanding of laws, regulations and legislation. We approach your audit with a deep and broad understanding of your business, the industry in which you operate, and the latest regulatory standards, helping you deliver value confidently through transparency of your reporting to stakeholders.
We are one of the very few leading firms registered with the PCAOB, USA.
We have an effective Peer Review Certificate from the Institute of Chartered Accountants of India, enabling us to undertake audit work for listed and public-interest entities.
Risk management is a big concern for both audit committees and senior management in corporate internally. Internal audit is an independent management function, which involves a continuous and critical appraisal of the functioning of an entity with a view to suggest improvements thereto and add value to and strengthen the overall governance mechanism of the entity, including the entity’s strategic risk management and internal control system.
Internal Audit helps an organization accomplish its objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control, and governance processes. With commitment to integrity and accountability, internal auditing provides value to senior management as an objective source of independent advice.
We provide accounting and auditing guidance which constitutes valuable insights for audit committees, chief financial officers, controllers, financial reporting groups, and internal audit directors.
Management support for Internal Financial Controls testing and development of standard operating procedures
Internal financial controls include policies and procedures adopted by the company for ensuring the orderly and efficient conduct of its business, including regulatory compliance and prevention and detection of frauds and errors, thereby covering not only the controls over reliable reporting of financial statements (more commonly known as Internal Financial Controls over Financial Reporting (“IFCFR”), but also include all other controls pervasive across the business. The Companies Act, 2013 (the “2013 Act”) has imposed specific responsibilities on the Board of Directors (“Board”) towards the company’s internal financial controls and, inter alia, requires the Board to state that they have laid down internal financial controls to be followed by the company and that such internal financial controls are adequate and were operating effectively.
By placing more accountability and responsibility on the Board and Audit Committee with respect to internal financial controls, the 2013 Act attempted to align the corporate governance and financial reporting standards with global best practices. With adequate and effective internal financial controls, some of the benefits that the companies are experiencing include:
- Senior Management Accountability
- Improved controls over financial reporting process
- Improved investor confidence in entity’s operations and financial reporting process
- Promotes culture of openness and transparency within the entity
- Trickling down of accountability to operational management
- Improvements in Board, Audit Committee and senior management engagement in financial reporting and financial controls
- More accurate, reliable financial statements
- Making audits more comprehensive
At Nangia & Co, we help you identifying risks as well as giving you the certainty that you are making the right decisions for the future of your business. We review the Risk control matrix and suggest the process and operational improvements. We also assist in implementing new processes and controls or enhancing existing processes and controls in areas such as: – Risk assessment, including fraud risk assessment – Information quality, including Information Produced by Entity (IPE) – Monitoring and oversight of third party service providers – Precision of management review type controls – Use of analytics in the context of control activities and monitoring. We also advise management on potential opportunities to leverage control framework in other operational or compliance functions. We also perform independent testing for management and report to the management with the customized action plan.
Due Diligence, Forensic, Special investigations and Mystery audits
We provide comprehensive due diligence services involving Business, Financial, Tax and Legal diligence (either in-house or through our network partners) to identify idiosyncratic business, financial risks and opportunities. Effective Due Diligence depends on identifying and then managing significant transaction issues, anticipating and identifying potentially important risk and negotiation issues. It is imperative to have reliable, timely and qualitative information in any potential transaction to enable informed decision making. The success of the investigation to make a well-informed decision would lie in a well-planned, integrated and coordinated detailed enquiry procedures.
All the documents of the firm are assembled and reviewed, the management is interviewed and a team of financial experts analyse the information to see if the business is worth buying.
In addition, financial due diligence analyses the assets and liabilities to be acquired.
Due diligence includes a critical review of the target company’s financial statements for the past several years and a review of the financial projections for the coming years.
Other areas which are analysed are:
- Key contracts.
- Financial statements.
- Employment agreements.
- Minutes and consents of the board of directors and shareholders.
- Patents, copyrights, and other intellectual property-related documents.
- Licenses and permits related to the operation of the business.
Further it is precisely in difficult economic times that preventing and investigating financial crime such as embezzlement, fraud and corruption becomes particularly important. We can assist you to manage risk, investigate alleged misconduct and fraud and measure the financial implications of disputes.
If an instance of unusual financial activity is suspected, our team can conduct forensic investigations, audits, and third party due diligence by leveraging forensic technology to uncover any irregularities, keeping in mind the sensitivity and urgency required. We can assist you in the following:
- Detailed process reviews including review of soft data related to accounting and operations to test for any malpractice or suppression.
- Expense verification including reviews to check for overstatement or fictitious expenditure used to siphon out money or understate revenue.
- Detailed analysis of physical invoices to test their authenticity and correctness.
- Forensic study of email boxes, to understand email culture and check for transfer of information critical to an organization.
- Mystery Audits
Stock and fixed assets audits
Stock and fixed assets Audit is also an area of specialization and core competence for Nangia & Co. Stocks and physical assets such as raw materials are critical real assets and needs systematized management. As a large number of companies are operating across the borders through multiple locations and channel partners, making asset management a challenge. We aim at delivering focused services to companies to keep their physical assets check intact.
Financial Accounting and Advisory Services including accounting and audit support, Preparation of accounting manuals, IPO advisory, Training on audit & accounting matters etc.
We at Nangia & Co can assist you anticipate the impact of key business decisions on your accounting and financial reporting. We have a multidisciplinary team of accounting, tax, and IT professionals with deep, sector-specific experience in managing the implementation of accounting changes, ranging from a single accounting standard to the full project planning. We can assist you in preparation of accounting manuals, IPO advisory, Training on audit & accounting matters etc.
Secretarial and other Company law matters support
The regulatory framework is always changing, making this environment increasingly complex and confusing for businesses. Regulations at national, international and supranational levels are being issued, amended or expanded, which sometimes makes it hard to navigate through the maze of orders, decrees, guidelines and circulars.
This is not helped by the fact that businesses also need to assess the potential effects of future regulations. Their professionals can help you manage compliance risks, an operation essential to achieving lasting business success today, as compliance breaches can cause considerable damage, which may even put the future of a company at risk.
Knowledge Process Outsourcing
We provide our clients with all of the accounting and bookkeeping services they need. We can assist you with setting up a bookkeeping system and producing efficient accounting records, such as journals, ledgers, and financial statements. We review financial records, provide advice for money management, help with budgeting, and offer advice on any financial decision.
Competence and experience enables us to offer a wide range of Outsourcing Solutions to our clients, helping them to manage heavy workloads. Taking peace of mind as an ideal, we offer an efficient helping hand to our clients. We virtually operate as your back office for all your bookkeeping and accounting services.
We provide advisory and support services to enhance the levels of corporate governance within the organization. This includes:
- Review & Enhancement of Risk management and oversight functions in the organization incl. strengthening of internal control systems & E-governance systems.
- Services designed to help company’s setup ethics environment, and then continue to effectively follow them.
- Assist boards and various sub-committees.
We offer a suite of strategic, outsourcing and industry-focused services that help build long-term value for businesses. Our technology, process and environment competencies, effectively combined, can support your organization in managing and mastering risk.
Virtual CFO/ End to end Accounts Outsourcing/CFO Services outsourced/ Finance and Accounting Outsourcing are for organizations looking to outsource their complete finance and accounts function to a single partner. Our solution enables seamless delivery of services and excludes the need to have separate labor consultants, tax consultants, CA’s, CS’s and accounting executives. We are able to provide high-quality services at a fraction of cost incurred to keep an in-house team by adopting a shared service model.
Our solution goes beyond the day-to-day bookkeeping tasks. We establish robust processes and controls during the first phase of our engagement, ensuring prudent risk management for clients and smooth day-to-day functioning for the client’s operations team. We provide advice and bring in best practices in finance and accounts for the client. We provide customized and timely MIS and Reporting to our services typically include book-keeping, payroll management, vendor payments, receivables management, taxation, compliance management, secretarial, fund management and MIS reporting. We work on a retainer ship model for accounts outsourcing assignments.
The core areas of our focus are: –
Finance & Accounts Outsourcing:
- Shared services model. A mix of on-client-side and back-end team members. This enables access to quality finance personnel at effective cost
- Day-to-day finance advice and taking ownership and providing a hassle-free experience.
- Entrepreneur/Leader can focus on building core business &without worrying about financial matters.
Secretarial & Legal Compliance:
- End to End solutions for secretarial compliance’s as per provisions of Companies Act
- FEMA Compliance
- Trademark and Copyrights applications
- Statutory Registrations
- Contract Management Services
Year-End Accounts Closure & Filing
- Drafting & Filing of financial statements
- Preparation & Filing of Annual/ Quarterly/Monthly Returns
- End-to-End ownership & assistance of Return Filing
- We understand the importance of creating a strong and well-implemented Accounts Payable Process so that stakeholders get accurate and complete financial statements.
- We provide process-oriented end to end Accounts Receivables solutions to the clients, which empowers them to focus on their core business.
- Banking plays an important role in the financial life of a business, and the importance of banks can be seen from the fact that they are considered to be the life-blood of the modern economy.
- We provide an end to end support to its clients for completing the audit of accounts by Independent external agencies. We provide full support in resolving each and every query raised by auditors to their satisfaction.
MIS and Reporting
- We help in giving timely and accurate information on the financial health of the company in the form of periodic MIS reports with detailed analyses with suggestive actions to implement.
- We are leading Service Provider in handling end to end Accounting and Book-Keeping Services, bringing a solution for such companies for providing end to end Accounting and Bookkeeping Services.
- Reconciliation is a very important task in the whole gamut of Accounts and Finance Department. Nowadays most of the companies are facing this difficult task of reconciliation of the huge amount of data.
- Proper handling and maintaining of all tax compliances as applicable from time to time is a very important task for any company.
- Every 31st March comes financial year-end, and we struggle with the closure of books. Financial regulations change every now and then, making it difficult for Company Owners/Entrepreneurs