Nitya Tax Associates

India

Analysis

Overview

Five-year-old boutique tax firm Nitya Tax Associates is primarily focused on indirect tax advisory and related litigation. It opened a new office in Bangalore and the second space in Delhi, bringing the total operations to four offices in three cities with 50 tax professionals overall. The firm holds the achievement of being one of the very few tax firms that successfully represented clients in obtaining favourable orders from various authorities for advance ruling under the newly introduced GST regime. Managing partner Puneet Bansal is an indirect tax specialist with particular experience in the automobile, consumer goods and service, and pharmaceutical and health sciences sectors. Last year the firm hired litigation partner Dharnendra Kumar Rana from Advaita Legal. Partner Poonam Harjani and associate partner Sreekumar Nair left the firm for independent practice.

Tax
Work highlights

Successfully represented Nexture Technologies in an industry-wide dispute regarding the correct rate of GST on the client’s particular type of goods, plastic handles and fittings. The team helped the client gain a favourable advance ruling on classification and applicable GST rate.

Acted for Shriram Pistons & Rings in an indirect tax case, successfully obtaining a favourable ruling for the client from the appellate tribunal against a service tax demand on notice pay recoveries from outgoing employees. The case was unique as there is no jurisprudence on taxation of notice pay recovery in India.

Key clients

Devyani International, Ericsson India, Hindustan Unilever