Overview

THE REGULATORY ENVIRONMENT

The current tax regulatory environment in India is characterized by a dynamic and evolving landscape. Goods and Services Tax (GST) was a significant change, consolidating multiple indirect taxes into a single tax system. However, businesses often grapple with the complexities involved in GST compliance, especially with frequent amendments and varied interpretations, consequently leading to litigations.

The current tax regulatory environment in India is characterized by a dynamic and evolving landscape. Goods and Services Tax (GST) was a significant change, consolidating multiple indirect taxes into a single tax system. However, businesses often grapple with the complexities involved in GST compliance, especially with frequent amendments and varied interpretations, consequently leading to litigations. On the direct tax front, the government has introduced measures to rationalize corporate tax rates, offering a more competitive structure to boost economic growth. Additionally, efforts are being made to digitize tax administration, aiming to streamline processes and increase transparency. While these reforms indicate a progressive trajectory, businesses will have to keep pace with continuous regulatory changes in India’s tax regime.

WHAT WE DO

ELP’s market-leading Tax practice sets itself apart with its innovative and customized “out of the box” solutions, carving out a distinct niche in the industry. With a comprehensive range of services covering both indirect and direct taxes, including transfer pricing, the tax practice offers seamless integration of expertise in advisory services and litigation.

ELP’s market-leading Tax practice sets itself apart with its innovative and customized “out of the box” solutions, carving out a distinct niche in the industry. With a comprehensive range of services covering both indirect and direct taxes, including transfer pricing, the tax practice offers seamless integration of expertise in advisory services and litigation.

Notably, ELP has successfully assisted some of the world’s largest global conglomerates, providing not only legal advisory but also strategic decision-making and advocacy support. These impactful decisions have significantly influenced domestic and cross-border businesses and transactions for these organizations.

The team is currently handling some of the largest customs related matters in the country and we have deep experience in navigating regulatory and foreign trade policy issues across sectors.

Services

Indirect Tax

ELP’s team has seamlessly adapted to the ever-changing landscape of India’s indirect tax laws. From excise and service tax laws to sales tax/value-added tax (VAT), entertainment tax, entry tax, and now Goods and Services Tax (GST), ELP has established itself as the foremost authority in the field of indirect tax. With a stellar reputation as the go-to firm for all indirect tax matters, ELP has consistently demonstrated its expertise. 

On the GST front, we have not only had the privilege of assisting numerous companies with their smooth transition into the new tax regime but have also played a pivotal role in guiding the entire sector through this transitional phase.  

Advisory

Our comprehensive advisory services encompass transaction structuring and support, specializing in optimizing supply chain operations from a GST efficiency standpoint. We analyze sourcing, procurement, and distribution models to offer tailored advice on incorporating best practices into your supply chain. 

 

Our experienced team is adept at conducting due diligence and optimization studies to identify tax-efficient strategies, leading to potential tax-saving opportunities for businesses. Additionally, we provide end-to-end guidance on resolving tax issues associated with cross-border transactions. The team also provides guidance negotiating optimum package of incentives under the State Industrial Policy and assistance on maximizing benefits under the state excise and state incentive policies. 

Litigation

ELP boasts a dedicated team proficient in delivering comprehensive litigation services to clients. From strategic planning to representation in adjudication and appellate proceedings, our firm is well-versed in handling a wide range of tax issues across India’s legal landscape. 

Our expertise covers cases at every level of the judicial hierarchy, starting from appearances before Assistant or Deputy Commissioners, up to the esteemed Supreme Court of India. Whether it’s tax-related matters or any other disputes, our team is equipped to advocate effectively for our clients’ interests. 

 

One of ELP’s distinctive strengths lies in our ability to represent clients before various specialized fora, such as the Dispute Resolution Panel, the Authority for Advance Rulings, and the Supreme Court. Moreover, we extend our support to clients facing investigations by the Department of Revenue Intelligence (DRI) and the Directorate General of GST Intelligence (DGGI) authorities. 

What sets us apart is the seamless integration of advisory and litigation services within our organization. This unique positioning allows us to provide holistic solutions, catering to the specific needs of our clients in India, where tax litigation is significantly more prevalent compared to other nations. 

Foreign Trade Policy, Customs and Export Controls

Thriving in today’s international business landscape demands unwavering attention to customs, supply chain, and border security laws for companies engaged in global trade of goods and services. At ELP, we possess a wealth of experience in navigating and addressing customs and related regulatory matters. Our expertise extends to Foreign Trade Policy (FTP), Foreign Exchange Regulations (FEMA), export controls, and sanctions-related issues. 

Our adept team comprehends the intricacies of this field, collaborating seamlessly with key regulatory agencies like the Directorate General of Foreign Trade, Ministry of Commerce and Industry, and Ministry of External Affairs. By doing so, we proactively resolve industry-wide and client-specific challenges, ensuring smooth operations and compliance. 

Over the years, we have had the privilege of advising diverse clients spanning various sectors and geographical locations. Our comprehensive knowledge and industry insights enable us to provide tailored solutions that empower businesses to flourish in the global marketplace. 

Advocacy Efforts

At ELP, we take pride in our ability to offer top-notch regulatory advice and policy support across various practices and industry sectors. Our expertise extends beyond mere guidance; we also excel in providing contentious litigation support, representing our esteemed clients before sector regulators, quasi-judicial authorities, commissions, and tribunals.We understand the power of advocacy in today’s competitive landscape and provide unwavering advocacy support to both companies and industry associations. 

With our deep understanding of the tax regulatory landscape and a vast range of industry insights, ELP assists in navigating the complexities of the legal environment effectively.  

Direct Tax

ELP boasts a comprehensive range of direct tax expertise, encompassing both international and domestic tax affairs including transfer pricing. Our team excels in crafting commercially viable structures and recommending arrangements that enable clients to achieve their objectives while adhering to tax and regulatory requirements efficiently. 

As forward-thinking problem solvers, we pride ourselves on offering cutting-edge and innovative solutions to address any challenges that arise during the transaction structuring stage. Our goal is to equip our clients with forward-looking tax strategies, ensuring long-term success and optimized outcomes. 

With our in-depth knowledge of tax laws and regulations, we are well-positioned to guide our clients through the complexities of direct tax matters. 

International and Domestic Tax Advisory

Our team specializes in comprehensive inbound and outbound structuring, offering expert assistance in designing entry strategies and interpreting treaties. With a keen focus on tax implications related to exchange policies and foreign investments, we provide valuable insights for businesses seeking to expand internationally. Additionally, we excel in domestic tax planning, strategic investments, and capital structuring, optimizing revenues and capital flows. 

Our proficiency extends to formulating effective risk mitigation strategies for foreign corporations, ensuring they navigate complex regulatory environments with confidence. Moreover, we offer invaluable assistance to firms with domestic tax planning, as well as infrastructure companies, helping them navigate the intricacies of levies from a POEM (Place of Effective Management) and GAAR (General Anti-Avoidance Rule) perspective. 

Backed by our extensive litigation experience, we are well-equipped to provide robust litigation support to our clients, offering them a competitive edge in legal matters.” 

Transfer Pricing

Transfer pricing is a critical aspect of international taxation that involves the pricing of goods, services, and intangible assets transferred between related entities within a multinational corporation. As businesses operate across borders, they often encounter complex tax regulations and varying tax rates in different jurisdictions. This can create opportunities for companies to manipulate the prices of intercompany transactions to minimize their overall tax burden, which raises concerns among tax authorities about potential profit shifting. 

 

ELP takes immense pride in its ability to provide exceptional transfer pricing services that not only comply with regulations but also create value for its clients. ELP’s team of experts with diverse backgrounds and extensive knowledge in various industries enables us to tailor transfer pricing solutions to suit the unique challenges and intricacies faced by clients in different sectors. 

Financial Planning/Transaction Advisory

With a proven track record of delivering successful outcomes for our clients, we understand the complexities of today’s financial landscape and guide our clients through the most intricate challenges. Whether seeking to optimize clients’ financial strategies, exploring merger and acquisition opportunities, or navigating international markets, our team is dedicated to helping our clients maximizing their financial potential. 

Our comprehensive financial planning and transaction advisory services encompass a wide range of strategic solutions tailored to meet your business needs. Our expert team specializes in providing seamless tax structuring advisory for M&A’s and for overseas listings. We also excel in fund structuring and carry structuring, internal restructuring, and offer valuable transaction process support. 

Thought Leadership

News & Media 29th Jun 2024

Gross tax collections up 15.9% in April-May

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Alerts & Updates 28th Jun 2024

Circulars issued by CBIC pursuant to 53rd GST Council Meeting

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News & Media 28th Jun 2024

CBIC issues valuation norms for foreign company supplies to Indian subsidiaries

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News & Media 28th Jun 2024

Need sellers undertaking for ITC reversal

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News & Media 26th Jun 2024

Budget 2024: What can salaried taxpayers expect?

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News & Media 25th Jun 2024

Budget 2024 expectations: Will the government increase Section 80C limit

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News & Media 25th Jun 2024

Budget 2024: AIFs seek tax parity with FPIs

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Articles 25th Jun 2024

Tax & Tech: The Twain Shall Meet

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Recent Matters

Tax

Providing comprehensive support to a technology firm based in the United States on indirect taxation, tax dispute resolution, customs compliance,...
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Providing comprehensive support to a technology firm based in the United States on indirect taxation, tax dispute resolution, customs compliance, and export control issues.
Tax

Advised an asset management company on the structuring, formation and relocation of its India focused international funds (based out of...
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Advised an asset management company on the structuring, formation and relocation of its India focused international funds (based out of Singapore) to the Gujarat International Finance Tec-City (GIFT City).
Tax

Represented several IPL franchisees on the issue of forward charge GST on sponsorship services.

Represented several IPL franchisees on the issue of forward charge GST on sponsorship services.
Tax

Advisory to global technology companies on core indirect tax and customs issues. The advisory also extends to e-Waste (ROHS) regulations,...
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Advisory to global technology companies on core indirect tax and customs issues. The advisory also extends to e-Waste (ROHS) regulations, Hazardous Waste regulations, import licensing requirements, labelling requirements and encryption regulations.
Tax

Assisted an international retail group in restructuring its India operations from a transfer pricing perspective.

Assisted an international retail group in restructuring its India operations from a transfer pricing perspective.
Tax

Represented Jet Airways on disputes concerning demands in relation to whether payments made by airlines to Computer Reservation System (CRS)...
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Represented Jet Airways on disputes concerning demands in relation to whether payments made by airlines to Computer Reservation System (CRS) companies are liable to service tax in India under the reverse charge mechanism.
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People

Recognitions

What People Say

They are always available to deal with our issues at short notice and have continued to deliver excellent technical and practical advice.

Chambers Asia Pacific

The team are well versed and are able to take issues forward.

Chambers Asia Pacific

Highly professional and extremely client-centric. Their response time is excellent and I found their advice to be commercially sound and strategic.

IFLR 1000

Economic Laws Practice is a gem. One can find a noteworthy level of service and intellect in their team.

Chambers and Partners, 2020

I appreciate the team’s commercial awareness, practical guidance and great grasp of our business.

AsiaLaw

The biggest reason for choosing Economic Laws Practice has been the pragmatic approach, practicality, in-depth understanding on the subject, patience to listen to the client’s problem and the overall value they put on table.

Legal 500