Shiva Nagesh, the head of indirect tax vertical at the country’s largest realty company DLF Ltd is joining Delhi-based boutique tax law firm Nitya Tax Associates as partner. He will look at the firm’s strategy and advise its clients on indirect tax related disputes.
“Shiva is a key addition to team Nitya,” said Puneet Bansal, managing partner of Nitya Tax Associates in a release, who started the firm sometime in June 2015. “Shiva brings varied industry and core indirect tax experience to the firm. He has vast experience in sectors comprising manufacturing, export oriented units, special economic zones, real estate, and infrastructure.”
Shiva has spent close to a decade with DLF in his around three decade long experience. Before that he has worked with GMR Infrastructure Ltd, Kone Elevators India Pvt Ltd, Crompton Greaves Ltd, Barco India Pvt Ltd and Minda Industries Ltd among others as tax counsel and advisor.
Founded by Puneet Bansal, Nitya Tax Associates currently has a team of around 25 lawyers and chartered accountants.
“All accounting firms including EY, KPMG and Deloitte are ramping up their indirect tax advisories and many law firms are also expanding their indirect tax teams in the anticipation of huge work flow after the rolling out of Goods and Service Tax (GST) in mid-2017,” said Paras Savla, partner at audit and consulting firm KPB & Associates. “The firms are looking for people who have experience in advising manufacturing companies as they will have to change their auditing and billing structures on multiple levels.”
In the beginning of November, the GST Council had finalised the tax rates that will be applicable once the new indirect tax regime comes into force.
In November, law firm Khaitan & Co hired two senior executives of audit and consulting firm PricewaterhouseCoopers (PwC), Abhishek Rastogi and Rashmi Deshpande, to strengthen its indirect tax practice anticipating influx of work when the goods and services tax is implemented. Before that in October, Deepak Chopra, who was counsel to the revenue department before becoming part of law firm PDS Legal, joined Zia Mody-led AZB & Partners’ tax litigation practice in New Delhi.
Similarly, in April this year, tax advisory firm BMR & Associates LLP had appointed Payal Tuli, a former executive at automaker BMW India, as a partner in its Gurgaon office who is also expert in indirect taxation.
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