BMS is the pioneer in offering Tax Management Services in India. Building on the proven capabilities of providing tax advisory services, we offer customized tax management and compliance services to our clients, so that they can safely assign the responsibility of the compliance related activities to us and engage in more strategic and value enhancing activities.

BMS uses the proprietary KORETM tax management framework to offer Managed Services Tax services in:

• Implementation of tax positions taken by the organization and automated computation of tax liability
• Automated generation of payment instruments (challans) and returns (monthly, quarterly and annual)
• System driven maintenance of input and output tax credit registers factoring the complexities of interplay on account of excise levies and transfer of credit etc.
• Handling specific processes pertaining to input service distributors such as maintaining records of credit transferred across registered premises and premises with centralized accounting / billing systems insofar as reporting needs of premises that come under the centrally registered premise
• Export of services and corresponding claims of rebate
• Handling reverse charges of service tax
• Tracking differential liability in cases of provisional assessments

We recognize that each organization has its own unique set of issues and processes to address its tax compliance requirements. We have designed our approach in such a way that it allows us to collaborate with our clients and understand their business, processes, challenges and the pain points.  We then develop a customized set of processes to address their unique requirements and adapt our systems so that they respond to these requirements.

BMS Managed tax services are woven around proprietary KORETM Tax Management framework software that integrates seamlessly with the existing processes and systems. We adapt our processes and tools to respond to regulatory changes so that your compliance requirements are always and promptly addressed. In all our work, we are constantly supported by in-depth tax domain expertise that ensures that we are current with all applicable tax developments.

We assign a team that is completely conversant with nuances of service tax and ensure that committed service levels are strictly adhered to.

We also undertake compliance review exercises where we review existing frameworks of clients and ascertain the level of compliances of their processes and IT systems.

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