Indirect Taxation in India is a labyrinth where most corporate companies are lost. Especially with the federal system of government that is equally applicable for indirect taxation; the whole scenario is complicated to a great extent. Many Corporate houses do not apprehend the compliances and fall prey to Tax regulatory measures due to ignorance and negligence. This is where accounting and Tax consultation comes into play. Not only are they the redeemers in terms of Tax and assorted predicaments but they also act as risk managers for the beneficiary companies. Satish Dongre and Sanjay Mahajan who were colleagues while their long service period at Indian Customs and Central Excise Services (IRS), co-founded MeLIORIS Corporate Advisory Services in December 2007 to help companies avoid such scenarios.
The ex-IRS officers noticed the glaring lag in Indirect Tax consultation available to the corporate houses, especially for the small to big consulting firms. Noticing the changing landscape of the Goods and Services Taxes (GST) in India MeLioris has focused its service area on providing impeccable consulting services in GST compliance to the Government which shrinks a businesses’ vulnerability to losses. The excellence in services and consultation has led MeLIORIS; bag some of the big names in cross border trade and commerce. “There is a shift in the business as the Government is going for rigorous corporate governance. Although we are going for the reforms but for Tax purposes the regulatory environment is complex. Whatever you do is very well being observed by these departments. So you need to understand the trends of the tax regulations, administration and laws. We work as a mass enabler to the clients in their Tax filing, structuring and integrating the risk management process and the different
controls in their day to day functions,” expounds Satish Dongre, Partner, MeLIORIS Corporate Advisory Services.
During its inception towards the end of 2007 most of the corporate houses or MNCs were quite reluctant about Taxes and Duties; and convincing them to adopt regulatory measures had been a real time challenge for the ex-IRS duo. Sanjay Mahajan, Partner, MeLIORIS adds, “We are a company with a different approach. We have a very precautionary type of approach in dealing with Taxes. We aren’t typical consultants who just advice companies whenever there are some notices. It is very difficult to convince Indian companies to adopt this approach.” Moreover, finding the right clients especially when MeLIORIS was still a budding consultancy was an added challenge. The duo with their profound experience in this arena for successfully triumphed over every challenge that impeded their track. MeLIORIS now has a strong foothold in the market rendering services related to customs and central excise, Service tax, VAT/sales tax, company law, Banking and intellectual property; to a few major players in cross border trades and services.
Noticing the changing landscape of the Goods and Services Taxes (GST) in India MeLIORIS has focused its service area in providing impeccable consulting services in GST compliance filing to the Government which shrinks the vulnerability of business to Tax liabilities arising out of ambiguities in law
With most of the clients being MNCs as their clients, MeLIORIS is all set to venture into rending its adroit services to Bollwood production houses as well. Sanjay expresses his plans to bring IT products and services into Taxing and Governance as a boost to the services. Realizing cloud as the future of technology, the duo is trying to incorporate cloud based solutions and data management in addition to the customary Indirect Tax solutions for their clients in the near future.