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Professional Opportunities In Service Tax

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-

Providing tax planning in Government/Commercial projects/ investments / IPRs having substantial investment
Registration of assessees
Disclosures and submissions to Department
Compliance of procedural aspects
Computation of monthly/ quarterly payment of tax/ duties
Return verification / filing of returns
Service tax review and quarterly audit
Review of systems and procedure before Departmental audit
Assistance during Departmental IAP or CAG audit
Opinions/ Clarifications
Transaction planning and structuring
Guidance on understanding of effect of budget/recent changes on activities
Filing of Refund claims of Service Tax
Departmental representation
Reply to Show Cause Notice (SCN)
Representation before Adjudicating Authority
Drafting of representation at Appellate Forums
Facilitation to Advocates at High Court/ Supreme Court
Outsourcing of Service Tax compliance activities
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