Business & Beyond
Grant Thornton Bharat
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In a dynamic and fast-paced business landscape, innovation is the key to growth. With an aim to bring you global insights with local roots, we welcome you to the Business & Beyond Podcast. Tune in to get an inside view of time-sensitive regulatory updates, out-of-the-box business solutions, in-depth insights, and much more. Follow us and stay connected as we pursue new ideas and inch closer towards a vibrant Bharat.
Available episodes
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Nov 16, 2022
TaxPod: November 2022
What’s new
* The Apex Court lays down key principles in relation to educational institutions for tax exemption
* The Apex Court settles the controversy in relation to interpretation of the expression “General public utility” for charitable organisations
* Central Board of Indirect Taxes and Customs clarifies that payments made using Form DRC-03 are not valid modes of payment for pre-deposits under the erstwhile central excise and service tax laws
About TaxPod
The Indian tax and regulatory space is changing at an unprecedented rate. We are witnessing policy announcements, legislative changes, judicial precedents and clarifications almost daily. This has made it challenging for corporate professionals to stay abreast of relevant developments. The aim of the TaxPod series is to keep you updated with key tax and regulatory developments of the past monthin a few minutes. Please do provide your feedback to us about this edition of the taxpod at nto@in.gt.com.
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Nov 11, 2022
Ep 30: Despite WFH, moonlighting, quiet quitting and ESOPs, employees' destinies will always be decided by employers.
Regardless of how progressive or woke an organisation is, employees always start from a position of disadvantage, negotiating their way to a better place—either individually or collectively, formally or informally.
That’s the norm we storm in this episode of our podcast.
Listen in as Narayan & Anisha get chatting with a talented duo Aditya & Gautam from the very aptly titled new age firm “TALENTED” and their attempt at creating a workplace model that’s trying its best to exceed employees’ expectations one HR policy at a time
We also have for this episode Ritika Mathur, Partner – Human Capital Consulting, Grant Thornton Bharat for the GT Insights section to throw some light on how can companies deploy ESOPs in the best way to foster not just stock ownership but company ownership in the true sense of the phrase.
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Oct 20, 2022
TaxPod: October 2022
What’s new
* Central Board of Direct Taxes issues additional guidelines under section 194R, addressing concern of stakeholders
* Organisation for Economic Co-operation and Development releases new Crypto-Asset Reporting Framework
* Central Board of Indirect Taxes and Customs issues guidelines for launching prosecutions punishable under the GST law
About TaxPod
The Indian tax and regulatory space is changing at an unprecedented rate. We are witnessing policy announcements, legislative changes, judicial precedents and clarifications almost daily. This has made it challenging for corporate professionals to stay abreast of relevant developments. The aim of the TaxPod series is to keep you updated with key tax and regulatory developments of the past monthin a few minutes. Please do provide your feedback to us about this edition of the taxpod at nto@in.gt.com.
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Sep 14, 2022
TaxPod: September 2022
What’s new
* The Central Government notifies Foreign Exchange Management (Overseas Investment) Regulations, 2022
* Central Board of Indirect Taxes and Customs issues guidelines on the issuance of summons under the GST law
* The Apex Court holds that the Insolvency and Bankruptcy Code will prevail over the Customs law to recover dues, once the moratorium is declared
About TaxPod
The Indian tax and regulatory space is changing at an unprecedented rate. We are witnessing policy announcements, legislative changes, judicial precedents and clarifications almost daily. This has made it challenging for corporate professionals to stay abreast of relevant developments. The aim of the TaxPod series is to keep you updated with key tax and regulatory developments of the past monthin a few minutes. Please do provide your feedback to us about this edition of the taxpod at nto@in.gt.com.
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Aug 25, 2022
Taxpod: August 2022
What’s new
* The Supreme Court to take up and resolve the issues relating to Most Favoured Nation clause in Indian Tax Treaties
* Organisation for Economic Co-operation and Development releases Progress report on Amount A of Pillar One, for public consultation
* The threshold for e-invoicing reduced to INR 10 crore with effect from 1 October 2022
About TaxPod
The Indian tax and regulatory space is changing at an unprecedented rate. We are witnessing policy announcements, legislative changes, judicial precedents and clarifications almost daily. This has made it challenging for corporate professionals to stay abreast of relevant developments. The aim of the TaxPod series is to keep you updated with key tax and regulatory developments of the past monthin a few minutes. Please do provide your feedback to us about this edition of the taxpod at nto@in.gt.com.
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Jul 15, 2022
TaxPod: July 2022
What’s new
· The Central Board of Direct Taxes issues guidelines on newly introduced sections 194R and 194S of the Income-tax Act, 1961
· The Central Board of Indirect Taxes & Customs issues various clarifications pursuant to the recommendations of the GST council
· Rajasthan High Court holds that the GST circular denying benefit of refund under the inverted duty structure, in cases where input and output are the same, is contrary to the provisions of GST law
The Indian tax and regulatory space is changing at an unprecedented rate. We are witnessing policy announcements, legislative changes, judicial precedents and clarifications almost daily. This has made it challenging for corporate professionals to stay abreast of relevant developments. The aim of the TaxPod series is to keep you updated with key tax and regulatory developments of the past month in a few minutes. Please do provide your feedback to us about this edition of the taxpod at nto@in.gt.com.
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Jun 15, 2022
Storm the Norm: The start-up economy today is only about moving money, not value creation
“The start-up economy today is only about moving money, not value creation.” This is the provocative norm we posed to veteran Fund Managing Partner, VT Bharadwaj, partner, A 91 Ventures. We began the discussion with how venture capital firms basically mop up money from various sources – individuals and institutions, pension funds across the world, etc.—and later pool it up to fund start-ups and new ventures.
Basically, they move others’ money around and make more money by doing so. We pushed the argument further by saying that VCs are not “making” anything, in the traditional sense of manufacturing or creating. If anything, they’re manufacturers of belief: getting those with investible wealth to believe enough in ventures that don’t currently exist and to back them with their surplus money.
In this entire reductionist approach, where is the conversation around sustainable value creation? Listen in to what he has to say…
For GT Insights, we had Raja Lahiri - Partner, Growth and Transaction Advisory, to share his expert stance on the norm
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Jun 14, 2022
TaxPod: June 2022
What’s new
* Mumbai tribunal deliberates upon applicability of beneficial ownership test under Article 13 of India-Mauritius Tax Treaty
* Organisation for Economic Co-operation and Development releases public consultation document on tax certainty framework for Amount A and for issues related to Amount A under Pillar 1
* Apex Court strikes down the levy of Integrated Goods and Services Tax on ocean freight
The Indian tax and regulatory space is changing at an unprecedented rate. We are witnessing policy announcements, legislative changes, judicial precedents and clarifications almost daily. This has made it challenging for corporate professionals to stay abreast of relevant developments. The aim of the TaxPod series is to keep you updated with key tax and regulatory developments of the past month in a few minutes. Please do provide your feedback to us about this edition of the taxpod at nto@in.gt.com.
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May 16, 2022
TaxPod: May 2022
What’s new
* Supreme Court settles controversy on reassessment notices issued after 1 April 2021
* Organisation for Economic Co-operation and Development (OECD) releases Draft Model Rules for the Extractives Exclusion and public consultation document on the Regulated Financial Services Exclusion for Amount A of Pillar 1
* Gujarat High Court has held that the circular issued to impose new restriction under the Export Promotion Capital Goods Scheme is ultra vires
About TaxPod
The Indian tax and regulatory space is changing at an unprecedented rate. We are witnessing policy announcements, legislative changes, judicial precedents and clarifications almost daily. This has made it challenging for corporate professionals to stay abreast of relevant developments. The aim of the TaxPod series is to keep you updated with key tax and regulatory developments of the past monthin a few minutes. Please do provide your feedback to us about this edition of the taxpod at nto@in.gt.com.
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May 2, 2022
StormtheNorm - In a world that’s all about the Web3 bubble, there’s no room for chewing gum bubbles.
In a world that’s all about the Web3 bubble, there’s no place for chewing gum bubbles.
Now, that’s a big and provocative norm to challenge about a category—and about large FMCG companies—that have built not just big customer bases for themselves but I daresay, also responsible for creating the kind of unparalleled mom-and-pop retail footprint in India that very few other categories can.
And I don’t say it lightly. The world of brands today seems to be about one or more of the following three things: purpose, planned purchase journeys, and pivots enabled by disruptive tech. Where’s the place for a frivolous, impulse-driven, unchanging product category in this world?
So how can an impulse category pivot to succeed in a D2C world, where the rules of commerce, culture and communications may be very different?
And today’s norm is not just an existential question but a practical one that our guest Mr Rajesh Ramakrishnan, has been tackling at the helm of Perfetti even before the pandemic, but also through it.
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Apr 14, 2022
TaxPod: April 2022
What's New
* Finance Act 2022 enacted
* Bombay High Court allows manual filing of Goods and Services Tax refund application
* Income-tax return forms for Assessment Year 2022-23 notified
* Organisation for Economic Co-operation and Development releases Commentary on Global Anti-Base Erosion Model Rules for public consultations
About TaxPod
The Indian tax and regulatory space is changing at an unprecedented rate. We are witnessing policy announcements, legislative changes, judicial precedents and clarifications almost daily. This has made it challenging for corporate professionals to stay abreast of relevant developments. The aim of TaxPod series is to keep you updated with key tax and regulatory developments of the past month in a few minutes. Please do provide your feedback to us about this edition of the taxpod at nto@in.gt.com.
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Mar 17, 2022
TaxPod: March 2022
What’s new
* Central Board of Direct Taxes issues clarification on the Most Favoured Nation clause.
* Central Board of Indirect Taxes and Customs enlarges the scope of e-invoicing under Goods and Services Tax regime.
* Recent update on Organisation for Economic Cooperation and Development’s Inclusive Framework and proposed steps taken by countries to protect their taxing rights.
The Indian tax and regulatory space is changing at an unprecedented rate. We are witnessing policy announcements, legislative changes, judicial precedents and clarifications almost daily. This has made it challenging for corporate professionals to stay abreast of relevant developments. The aim of the TaxPod series is to keep you updated with key tax and regulatory developments of the past month in a few minutes. Please do provide your feedback to us about this edition of the taxpod at nto@in.gt.com.
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Feb 18, 2022
TaxPod: February 2022
What’s new
* Finance Minister tables the Union Budget 2022.
* Finance Bill 2022 introduces tax on virtual digital assets, such as cryptocurrencies and non-fungible tokens.
* Bombay High Court allows extended period of limitation for the Goods and Services Tax (GST) refund applications.
The Indian tax and regulatory space is changing at an unprecedented rate. We are witnessing policy announcements, legislative changes, judicial precedents and clarifications almost daily. This has made it challenging for corporate professionals to stay abreast of relevant developments. The aim of the TaxPod series is to keep you updated with key tax and regulatory developments of the past month in a few minutes. Please do provide your feedback to us about this edition of the taxpod at nto@in.gt.com.
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Jan 31, 2022
StormtheNorm Ep - Human trust can never be replaced by algorithmic trust
First time ever in India, a podcast from one of world’s best blockchain & token economic specialist from Israel, Mr. Jonathan Caras telling us how can an algorithm—a structured set of instructions encoded to enable repeatable tasks with the same consistent result every time—create or replace a phenomenon like trust?
Trust which is a function of 3 human dimensions.
Subjectivity is just one dimension of trust as we know it. One’s currently held beliefs play a large part in how one approaches an object of trust. A second dimension is the fragility of trust—it can be broken by something that may not necessarily be a disastrously bad mistake or error of judgment. A third dimension is that it takes time to build trust—it’s not something that can be generated instantly, not even overnight.
So how can technology replace all the above?
Listen in as Narayan & Anisha take this up with our global expert as he systematically storms this norm that has a far-bearing effect on busine…
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Jan 20, 2022
TaxPod: January 2022
What’s new
* Government provides relief to taxpayers; extends due dates for return filing, tax audit and Form 3CEB.
* Government notifies new Faceless Appeal 2021; addresses many of the taxpayer’s concerns.
* OECD releases Global Anti-Base Erosion Model Rules for implementation of 15% global minimum tax.
The Indian tax and regulatory space are changing at an unprecedented rate. We are witnessing policy announcements, legislative changes, judicial precedents, and clarifications almost daily. This has made it challenging for corporate professionals to stay abreast of relevant developments. The aim of the TaxPod series is to keep you updated with key tax and regulatory developments of the past month in around 5 minutes. Please do provide your feedback to us about this edition of the TaxPod at nto@in.gt.com.
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Dec 16, 2021
TaxPod: December 2021
What’s new
* Agreement between India and USA on the treatment of Digital Services Taxes, during the interim period, prior to implementation of Pillar 1
* CBDT issues clarifications on TDS and TCS provisions
* Supreme Court held that outdoor catering services for personal use or consumption of employees are excluded from the definition of input service
About TaxPod
The Indian tax and regulatory space are changing at an unprecedented rate. We are witnessing policy announcements, legislative changes, judicial precedents, and clarifications almost daily. This has made it challenging for corporate professionals to stay abreast of relevant developments. The aim of the TaxPod series is to keep you updated with key tax and regulatory developments of the past month in around 5 minutes. Please do provide your feedback to us about this edition of the TaxPod at nto@in.gt.com.
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Dec 9, 2021
Business & Beyond | Ep #2: Making Digital Change Simple
Taking a leap to go beyond, we are excited to introduce Business and Beyond, our video series on topics that are hot, trending, and important to your business. In our second episode, Kalpana B, CEO and Chief Thinker dGTl, talks about how can businesses make their digital journey simple and leveraging human-to-human interaction in technology-driven environments.
To know more about our digital transformation services, visit https://www.grantthornton.in/en/services/dgtl/
Reimagine your Digital Future with Grant Thornton dGTL. Explore with our experts, write to us at GTBharat@in.gt.com
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Dec 9, 2021
StormtheNorm Ep: To foster business resilience, size is the best insulation against shock
The Covid-19 crisis exposed stark differences in the fortunes of different small and medium-sized businesses. Larger businesses did have an edge & were less hard-hit as a group. These were the ones who were able to take some knocks, bounce back, restart, adapt better than others.”.
But we also know that the world at large & we don’t just mean the world of business and economics is mostly made of the long tail—from the results of a Google search to stocks listed on any exchange beyond the big index-driving stocks to mom-and-pop retail that drive and support the consumer economy, we see that it’s the small entities that sustain the world. And if these weren’t resilient, then we would have sunk as an socio-industrial-economic complex a long time back—whether we consider the global or the local economy.
So where do we net out on this norm? Does size of operation insulate a business against shocks?
Listen in to our guest expert Siddharth Nigam & a complete Storm the Norm RES…
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Nov 29, 2021
Ep #1: Supporting workers and creating a sustainable livelihood for the people of Hazaribagh | Development Positive
Grant Thornton Bharat is proud to collaborate with Bill & Melinda Gates Foundation in shaping livelihoods andenhancing income generation opportunities. In this podcast, Padmanand V, Partner, Public Sector Consulting shares how our interventions, in collaboration with the government, are helping shape a Vibrant Bharat and the impact our Firm is creating in Hazaribagh.
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Nov 18, 2021
TaxPod: November 2021
What’s new
* Government notifies e-Settlement Scheme 2021 for electronically disposing settlement applications
* Annual Information Statement is now available on the compliance portal of the Income-tax e-filing website
* Supreme Court sets aside Delhi High Court’s order allowing petitioner to rectify GSTR-3B for claiming input tax credit
The Indian tax and regulatory space is changing at an unprecedented rate. We are witnessing policy announcements, legislative changes, judicial precedents and clarifications almost daily. This has made it challenging for corporate professionals to stay abreast of relevant developments. The aim of the TaxPod series is to keep you updated with key tax and regulatory developments of the past month in around 5 minutes. Please do provide your feedback to us about this edition of the taxpod at nto@in.gt.com.
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Nov 2, 2021
Business & Beyond | Ep #1: Related Party Transactions Decoded
Taking a leap to go beyond, we are excited to introduce Business & Beyond, our new video series on topics that are hot, trending, and of importance to your business. In our first episode, we present to you the many aspects of Related Party Transactions (RPT) that impact governance and compliance policies in an organisation.
To know more on RPT governance, please visit https://bit.ly/RPTGovernance
Is Governance in RPTs your priority? Explore with our experts, write to us at GTBharat@in.gt.com
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Oct 22, 2021
StormtheNorm #9 - Audio has always been a poor cousin of video, whether in the analog age or in the digital age
A picture speaks a thousand words. Indeed. But it is what you hear orally that stays with you for time immemorial. Even before video or the written word was a thing, we have evolved for millennia as oral cultures.
And yet, when you look at it from a business point of view (myopic as that may sound, but hey we’re a business podcast) audio has always been and continues to be a poor cousin to video, and we daresay even to the written word. We’ve heard of movie czars and newspaper czars, but have you ever heard of a radio czar? Have you ever heard of an equivalent of Reed Hastings or Netflix for audio? Heck, even the world’s richest man, Jeff Bezos put his bets on video with Amazon Prime and publishing the written word. And for all the hype that the iPod got when Steve Jobs first introduced it, it’s seen as a bit of a quaint anachronism now and Apple is known more for its phone and computing devices. And to top it all, we haven’t seen a single audio unicorn anywhere in the world…
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Oct 19, 2021
TaxPod: October 2021
* OECD releases statement highlighting further developments on the two-pillar solution.
* SEBI approves amendment in regulatory provisions related to Related Party Transactions.
* Government notifies rules for implementing withdrawal of indirect transfer provisions from 1 October 2021.
The Indian tax and regulatory space is changing at an unprecedented rate. We are witnessing policy announcements, legislative changes, judicial precedents, and clarifications almost daily. This has made it challenging for corporate professionals to stay abreast of relevant developments. The aim of the TaxPod series is to keep you updated with key tax and regulatory developments of the past month in around 5 minutes. Please do provide your feedback to us about this edition of the TaxPod at nto@in.gt.com.
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Sep 17, 2021
TaxPod: September 2021
* Government unveils Remission of Duties and Taxes on Export Products Scheme, to be applicable from 1 January 2021.
* The Supreme Court holds refund of accumulated ITC on services under inverted duty structure not available, directs the GST Council to reconsider the formula
* Rules for withdrawal of retrospective application of indirect transfer provisions released for public comments
The Indian tax and regulatory space is changing at an unprecedented rate. We are witnessing policy announcements, legislative changes, judicial precedents and clarifications almost daily. This has made it challenging for corporate professionals to stay abreast of relevant developments. The TaxPod series aims to keep you updated with key tax and regulatory developments of the past month in around 5 minutes. Please do provide your feedback to us about this edition of the TaxPod at nto@in.gt.com.
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Sep 15, 2021
StormtheNorm #8 - It's easier for start-ups than for established businesses to turn around
Is it easier for startups than for established businesses to turn around? Just think about it..mature organisations have established not just a business, but a certain reputation, ways of working, people policies, they’ve figured out ways around the corridors of power as well as versus competition, the company is like a machine (whether well-oiled or not), bound by systems and processes. A startup turning around is like someone on a motorcycle doing a u-turn, while an established business is like a long train that has to go in a different direction all of a sudden. You can’t just switch tracks abruptly, especially if there are no tracks laid out in the new direction in the first place. You’ll just derail the whole thing.
But the real pivotal (pun unintended) question that we challenged Rohit Kapoor, CEO-Oyo with is much more fundamental; ‘Why do startups need turnarounds in the first place? And is it easier, as our thinking so far seems to indicate, for startups to turn around…
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Aug 19, 2021
TaxPod: August 2021
What’s new
* India withdraws retrospective applicability of indirect transfer provisions - what it means and the likely impact
* Madras High Court gives relief to the manufacturing sector, allows input tax credit on inputs lost during the manufacturing process
* Delhi High Court rules that power of search and seizure in GST is an ‘intrusive power’ which should be wielded with utmost care and caution
The Indian tax and regulatory space is changing at an unprecedented rate. We are witnessing policy announcements, legislative changes, judicial precedents and clarifications almost daily. This has made it challenging for corporate professionals to stay abreast of relevant developments. The aim of the TaxPod series is to keep you updated with key tax and regulatory developments of the past month in around 5 minutes. Please do provide your feedback to us about this edition of the taxpod at nto@in.gt.com
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Jul 22, 2021
TaxPod: July 2021
What’s new
- Announcement on two-pillar solution to address tax challenges arising due to digitalisation of the economy
- Bombay High Court reaches a split verdict on constitutional validity of provisions relating to intermediary services under GST
- Compliance check functionality introduced to ease compliance burden on tax deductors and collectors
About TaxPod
The Indian tax and regulatory space is changing at an unprecedented rate. We are witnessing policy announcements, legislative changes, judicial precedents and clarifications almost daily. This has made it challenging for corporate professionals to stay abreast of relevant developments. The aim of the TaxPod series is to keep you updated with key tax and regulatory developments of the past month, in around 5 minutes.
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Jul 15, 2021
StormtheNorm #7 - Doomed to be deemed boring: Not every profession can be creative
Creativity needs chaos. Structure constrains lateral thinking. And so, many professions have no option but to think inside the box. Or do they?
The “creative professions,” such as advertising, art, music, entertainment, writing believe they have the corner on creativity, relegating many professions to the doom and gloom of Boring. Is it their ego that perpetuates this condescension or is their disdain justified?
“Doomed to be deemed boring: Not every profession can be creative.
”That’s the norm our hosts Anisha and Narayan explore in this episode of #StormTheNorm. And IP Lawyer and strategist Safir Anand decided to light a grenade under this norm to explode it, not just storm it.
It’s one thing to identify a norm, and another to find practicable hacks to storm it. But you could do worse than apply this one, to begin with!
“Eat a live frog first thing in the morning and nothing worse will happen to you the rest of the day,” said Mark Twain.
Intrigued? Click play to…
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Jun 21, 2021
StormtheNorm #6: Most Indian Start-ups have towering valuations but no sign of profit
Has it become an acceptable norm to prioritise valuation over value creation when running a start-up? If yes, why is this trend embraced like the holy grail? With this borderline trend fast becoming the norm, it’s the right time to find out what gives start-ups the confidence to not bother about profitability in their first few years and what makes their path different from that of the listed companies.
To answer these burning questions and share insights on the norm, we have for this episode, Vikas Agnihotri, India Operating Partner at Softbank Investment Advisers. And for Insight by Grant Thornton Bharat, we have on board Raja Lahiri, Technology, Media and Telecom Leader and Partner, Growth Advisory.
Our experts discuss ways to 'storm this norm', and bring back on table the significance of value creation. Tune into the podcast to get insightful perspective on the starts-up of today and their debatable disdain for profitability.
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Jun 18, 2021
TaxPod: June 2021
What's new
- Government extends due dates of various direct tax compliances
- Key updates from the 43rd and 44th GST Council meeting
- Ministry of Corporate Affairs issues clarification on offsetting of excess CSR spent
About TaxPod
The Indian tax and regulatory space is changing at an unprecedented rate. We are witnessing policy announcements, legislative changes, judicial precedents and clarifications almost daily. This has made it challenging for corporate professionals to stay abreast of relevant developments. The aim of the TaxPod series is to keep you updated with key tax and regulatory developments of the past month, in around 5 minutes.
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May 17, 2021
TaxPod: May 2021
What's new
- Government announces various direct and indirect tax relief measures due to second wave of COVID-19
- Provisions relating to Significant Economic Presence operationalised
- Ministry of Corporate Affairs issues clarification on Corporate Social Responsibility (CSR) expenditure
About TaxPod
The Indian tax and regulatory space is changing at an unprecedented rate. We are witnessing policy announcements, legislative changes, judicial precedents and clarifications almost daily. This has made it challenging for corporate professionals to stay abreast of relevant developments. The aim of the TaxPod series is to keep you updated with key tax and regulatory developments of the past month, in around 5 minutes.
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May 3, 2021
StormtheNorm #5: CSR has now become a Corporate Social Regulation as against Corporate Social Responsibility
As the world faces multiple crisis, there is an increasing need for corporates to come together and help the civil society. It is equally important to partner with leaders and ensure to bridge the gaps wherever necessary. Our norm this episode is set in this context: Can laws turn corporates into better partners for the society at large? Or will they turn CSR into Corporate Social Regulation rather than Corporate Social Responsibility? Find out as we storm this norm in Ep. 21
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Apr 20, 2021
New labour codes and its key impact areas
The new labour codes, introduced by Government of India, subsume 29 existing labour laws with an intent to simplify and rationalise the relevant provisions of the subsumed laws. Akhil Chandna, Associate Partner, Tax, shares his insights on the recent legislation and how businesses should prepare for this transition.
Click here to know how we can assist you transition through this new legislation https://www.grantthornton.in/en/service/labour-codes/
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Apr 19, 2021
TaxPod: April 2021
The Indian tax and regulatory space is changing at an unprecedented rate. We are witnessing policy announcements, legislative changes, judicial precedents and clarifications almost daily. This has made it challenging for corporate professionals to stay abreast of relevant developments. The aim of the TaxPod series is to keep you updated with key tax and regulatory developments of the past month, in around 5 minutes.
What’s new
· Government extends Foreign Trade Policy 2015-20 to 30 September 2021
· Finance Act 2021 enacted
· Group turnover threshold for applicability of country-by-country report eased
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Apr 7, 2021
Episode #3 - SPACs: Financial reporting considerations for companies
In the third episode of our knowledge series, Siddharth Talwar, an experienced Chartered Accountant, talks about the key financial reporting aspects that operating companies need to bear in mind while planning a ‘de-SPAC’ transaction. Siddharth advises companies on matters related to financial reporting under international GAAP, such as US-GAAP and IFRS.
To know more about overseas listings, visit https://www.grantthornton.in/en/service/growth/overseas-listing/
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Apr 1, 2021
Episode #2 - SPACs: Understanding the tax and regulatory framework
In our first episode, we discussed the concept of SPACs, the benefits and risks involved in it. Continuing the series, the second episode focuses on the tax and regulatory framework a company must adhere to while going down the SPAC route. Our Partner, Tax, Sridhar R. shares his insights.
Watch our webinar on Rise of SPACs - https://youtu.be/2VFnG4VAmdA
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Mar 22, 2021
Introduction to SPACs: Benefits and Risks
Market analysts are calling 2021, the year of SPACs. But first, we need to know what is a SPAC? Why should a company choose to go public through this route & what could be the risks involved? Hear from our expert on the subject - Raja Lahiri, Partner, Growth and Overseas listing leader.
Stay tuned for the next episode on SPACs and company structure. Don't forget to join the webinar - http://bit.ly/3vQyau7
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Mar 16, 2021
TaxPod: March 2021
The Indian tax and regulatory space is changing at an unprecedented rate. We are witnessing policy announcements, legislative changes, judicial precedents and clarifications almost daily. This has made it challenging for corporate professionals to stay abreast of relevant developments. The aim of the TaxPod series is to keep you updated with key tax and regulatory developments of the past month, in around 5 minutes.
What’s new
· Supreme Court ruling on taxation of software payments;
· Mandatory e-invoicing for B2B transactions for taxpayers having turnover of more than INR 50 crores from 1 April 2021;
· Central Board of Direct Taxes prescribes the procedure for seeking relief from double taxation for expats stranded in India.
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Mar 9, 2021
StormtheNorm #4: The Future belongs to the Fast
This norm—that the future belongs to the fast—feels as old as time itself. Aesop articulated it with the fable of the hare and the tortoise. Pioneers throughout time became rulers by being the first to get somewhere, or to conquer new lands. In business, we’ve had the idea of the first-mover advantage for a long time. And in a frenzied, VC-fueled new economy, it definitely feels like you’re a loser if you’re not the first out of the blocks.
Undoubtedly, social, economic, political, cultural laws shape us. Isn’t that why fast does seem to be winning, and defining the future? Look all around us. That’s what we seem to celebrate. The fastest to become a billionaire, a unicorn to market etc etc.
The Annual Special episode, highlighted the juxtaposition of fast and slow, and how the pandemic made us involuntarily choose slow by putting life on pause. Narayan Devanathan & Anisha Motwani explore whether now’s a good time to examine if that was just a blip accentuated by the…
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Feb 15, 2021
TaxPod: February 2021
The Indian tax and regulatory space is changing at an unprecedented rate. We are witnessing policy announcements, legislative changes, judicial precedents and clarifications almost daily. This has made it challenging for corporate professionals to stay abreast of relevant developments. The aim of the TaxPod series is to keep you updated with key tax and regulatory developments of the past month, in five minutes.
What’s new
- Finance Minister tables the Union Budget 2021
- Ministry of Corporate Affairs amends norms relating to ‘one-person company’
- Government proposes to replace GST audit with self-certification process
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Jan 25, 2021
Union Budget 2021: Pre-Budget Expectations
National Managing Partner, Tax, Vikas Vasal shares his expert insights on what to and what not to expect from Union Budget 2021. For more on Budget 2021, follow #GTonBudget or log on to http://bit.ly/GTonBudget2021.
Join our Union Budget 2021 Analysis webinar on 01 Feb at 04 pm, register here https://gtindia.zoom.us/webinar/register/6416105215237/WN_Qtk0R4jOTteidWxvtCoYjQ
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Jan 20, 2021
TaxPod: January 2021
The Indian tax and regulatory space is changing at an unprecedented rate. We are witnessing policy announcements, legislative changes, judicial precedents and clarifications almost daily. This has made it challenging for corporate professionals to stay abreast of relevant developments. The aim of the TaxPod series is to keep you updated with key tax and regulatory developments of the past month, in five minutes.
What’s new
- Introduction of Faceless Penalty Scheme 2021
- Benefit of the Remission of duties and Taxes on Exported Products (RoDTEP) scheme extended to all export goods from 1 January 2021
- No further extension in due dates of return filing, states Central Board of Direct Taxes
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Jan 7, 2021
StormtheNorm #3: 2021 will be about norming storms, not storming norms
In August 2020, this story about the Choluteca Bridge in Honduras went viral and made many a LinkedIn profile get their 15 seconds of fame. Funnily enough, the bridge was built in 1996, Hurricane Mitch forced the river to change course in 1998 to completely render the bridge useless from the point of its original purpose. But it took a year-long pandemic in 2020 for people to realize that we had all been building our own Bridges to Nowhere while the river of life dramatically changed course.
Clearly, 2020 is our Hurricane Mitch. And 2021 is the year where we figure out what to do with the Bridge to Nowhere.
Remember, Lewis Carroll’s iconic ‘Through the Looking Glass’. The cusp between 2020 and 2021 feels like we all need to step through a looking glass of our own, to see our world anew.
With the advent of work / live / play at home era, the impossibility to plan in advance has erased the concept of chronos (as the ancient Greeks called it) or linear time. And because of…
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Dec 22, 2020
A conversation on "The State of Economy & Prospects"
Confederation of Indian Industry (CII) and Stanford alumni India (North & East) hosted an engaging conversation on ‘The State of the Economy and Prospects’ with Grant Thornton Bharat CEO, Vishesh C. Chandiok and Aditya Berlia Co-Promoter, Apeejay Stya and Svran Group. Get to know the real impacts of reforms introduced during Covid-19, the economic outlook in 2021 and lots more. Tune in to get insights on updated numbers, key economic figures and check points for Indian businesses. Since this was a webinar that we have converted to an audio podcast to suit the preferences of many business leaders like you, if you wish to refer to the slides please watch the video on this link https://youtu.be/TgDG7ZwE8Oc
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Dec 18, 2020
StormtheNorm #2: Nationalistic brands will have an edge over global brands in the post-Covid era.
This norm may sound pretty obvious—and familiar, because it is an inescapable one these days, given the socio-political climate, not just in India but in many countries across the world. Recall the Donald Trump’s MAGA ideology that almost demanded a nationalistic fervor from business (the integrity of that ideology is another debate altogether), Brexit has asked Britons to view business from a non-EU lens first. Even in something as critical as a Covid-19 vaccine, the US wants to favor the one developed by an American company (Pfizer, in this case) while India has its predilections towards the ones where Bharat Biotech or The Serum Institute have a hand.
So, will local geo-politics influence businesses & will brands start being vocal about showing off their nationalistic credentials and make that a key strategic pillar in their playbook?
To answer this, we have an expert who has straddled the line between both local and global. Our guest expert today is Geetu Verma from Unilever,…
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Dec 15, 2020
TaxPod: December 2020
The Indian tax and regulatory space is changing at an unprecedented rate. We are witnessing policy announcements, legislative changes, judicial precedents and clarifications almost daily. This has made it challenging for corporate professionals to stay abreast of relevant developments. The aim of the TaxPod series is to keep you updated with key tax and regulatory developments of the past month, in five minutes.
What’s new
- Government announces ‘Atmanirbhar Bharat Rozgar Yojana’ to incentivise employment generation in the Covid recovery phase.
- Relief to real estate sector announced in the third tranche of Atmanirbhar Bharat package.
- Government releases second set of frequently asked questions (FAQ) under the Vivad se Vishwas Scheme
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Nov 27, 2020
StormtheNorm #1: Challenger brands have to swim harder than the leader to stay in the same place
What are the rules of winning for challenger brands? But first, what makes a challenger brand? What differentiates them from market followers & qualifies them as challengers?
Let's take a cricket analogy here. The 1983 men’s Indian cricket team was an underdog that came from nowhere to dethrone an invincible West Indies. But there is another more apt team when it comes to satisfying multiple conditions of being a true challenger. The Sri Lankan team of the 1996 cricket world cup. They were a decided underdog, much smaller as a cricketing nation, in the midst of the worst days of the civil war and they definitely did not stay in the same place at the end of the tournament.
What is amply clear is that it’s high time the ‘challenger brand’ norm was stormed.
We do have an expert who brings his lived insights and experience with him — on what it takes to be a challenger brand and not end up in the same place. Listen to Mr. Vishesh C. Chandiok, CEO of Grant Thornton Bharat to sh…
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Nov 18, 2020
TaxPod: November 2020
The Indian tax and regulatory space is changing at an unprecedented rate. We are witnessing policy announcements, legislative changes, judicial precedents and clarifications almost daily. This has made it challenging for corporate professionals to stay abreast of relevant developments. The aim of the TaxPod series is to keep you updated with key tax and regulatory developments of the past month, in five minutes.
What’s new
- Government announces special cash package for central government employees
- Due date for filing income tax return for the financial year 2019-20 extended
- Division bench of Madras High Court refuses transitional credit of Education Cess, Secondary and Higher Education Cess and Krishi Kalyan Cess
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Oct 19, 2020
TaxPod: October 2020
The Indian tax and regulatory space is changing at an unprecedented rate. We are witnessing policy announcements, legislative changes, judicial precedents and clarifications almost daily. This has made it challenging for corporate professionals to stay abreast of relevant developments. The aim of the TaxPod series is to keep you updated with key tax and regulatory developments of the past month, in five minutes.
What's new
* Government notifies the Taxation and Other Laws (Relaxation and Amendment of Certain Provisions)
Act, 2020
* Due date for furnishing of belated and revised returns for Assessment Year 2019-20 extended
* One-time relaxation from implementation of e-invoice
for October
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Sep 23, 2020
TaxPod: September 2020
The Indian tax and regulatory space is changing at an unprecedented rate. We are witnessing policy announcements, legislative changes, judicial precedents and clarifications almost daily. This has made it challenging for corporate professionals to stay abreast of relevant developments. The aim of the TaxPod series is to keep you updated with key tax and regulatory developments of the past month, in five minutes.
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Sep 22, 2020
Introducing Grant Thornton Bharat Podcast
In a dynamic and fast-paced business landscape, innovation is the key to growth. With an aim to bring you global insights with local roots, we welcome you to the Grant Thornton Bharat Podcast. Tune in to get an inside view of time-sensitive regulatory updates, out-of-the-box business solutions, in-depth insights and much more. Follow us and stay connected as we pursue new ideas and inch closer towards a vibrant bharat.
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