Smooth execution without technical glitches critical for GST filing system: Experts
The government plans to link GSTR 1, the form used to fill outward supplies, with GSTR 3B, used to fill returns summary, which will reduce mismatch of information through auto-population. The linking would also lead to reduced cases of input tax credit mismatch, unintended errors and also prevent tax evasion.
Continuation of safeguard duties on imports from China for third consecutive year creates confusion
"The solar industry has been recommending...
Indian consumers cautious about spending amid coronavirus pandemic: KPMG survey
Elaborating on consumer spending habits, the KPMG India surve...
Ernst & Young, PricewaterhouseCoopers, KPMG qualify tech round for startups
The consultant will be the single node of access to line ministries for startups to pitch their ideas and as they trial-run disruptive technologies and implement pilots.
Maharashtra Appellate Authority of Advance Rulings allows input tax credit for companies using vehicles to transport cash to ATMs
The AAAR said the revenue department’s arguments that money be treated differently from other goods since RBI guidelines are not applicable on other goods, was “devoid of any merit and is not sustainable… erroneous and absurd, and do not merit to be considered.” ET has reviewed a copy of the order.
Karnataka AAR ruling: Subletting, leasing under GST ambit
In a case involving about 42 single rooms having been sublet by a tenant to students for periods ranging between three months to 11 months, AAR noted that the property given out for sub-renting matched that of a hotel – rooms with attached bathrooms – “which can by no imagination be termed as residential dwelling”, or a house.
Residential real estate will definitely do well in the long run: KPMG India
‘Technology will play a major role in the residential sector going forward’
Logistics firms optimise costs amid payment delays from cash-strapped customers
While ecommerce companies, seeing steady sales, have been paying warehousing service providers on time, some companies in the fashion apparel segment have not paid for transportation services availed back in February and March, said Anshuman Singh, chairman of Warburg Pincus-based Stellar Value Chain solutions.
Centre's decision to extend ISTS waiver welcomed by renewable energy industry
This order applies to solar, wind, and hybrid projects, and includes storage projects as well. Obligated entities can also avail of the waiver to fulfill their renewable energy obligations (RPO).
Drones, blockchain, bots, artificial intelligence—the new auditors on the block
Auditors fear that at a time when they are working from home and unable to hit the ground, technology could be the only solution that could give them comfort as the fear of fraud increases due to movement restrictions and inability to do physical checks.
Strategy consultants help government chart Covid-19 plans
Apart from these top notch firms, hundreds of consultants from the Big Four divisions are embedded with central ministries and state governments helping local administrations in areas of data analytics, resource allocation, essential supply management and deploying technology solutions.
Assam ropes in KPMG, E&Y to deal with post Covid situation
State Innovation & Transformation Aayog (SITA), Assam, is working on a Strategy Paper for the state government by engaging Ernst & Young (EY) on tea industry. Tea industry has suffered immensely during the lockdown .
Housing sector to see muted demand in 2020: KPMG
KPMG, in the short term, has recommended no interest repayment for 3-6 months for developers which can be extended to 9-12 months, no EMI repayments for six months for the home buyers and lending rate for realty projects to be fixed at a lower repo rate.
Central Board of Indirect Taxes allows video conferencing for personal hearings under Customs Act
Experts said that the move would help the department transition into the new work culture while also helping in clearing a number of pending cases and also the cases like countervailing duty refund, custom duty refund and other refunds.
Auditors claim the compliance work has gone up and they are being paid pittance
In most cases, insiders say the demand is that fee be increased by at least 25%. An internal risk analysis identified several companies that could face problems from regulators, including NFRA, the Economic Offences Wing or Enforcement Directorate.