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The March 2025 edition of the Grant Thornton Bharat Monthly Tax Bulletin captures key developments under the direct taxes, transfer pricing, indirect taxes, and FEMA, for February 2025.

The US has a unique taxation system where tax liabilities are determined based on citizenship rather than residency.

The Union Budget 2025 has once again brought the debate between the old and new tax regimes into focus.

The February 2025 edition of the Grant Thornton Bharat Monthly Tax Bulletin captures key developments under the direct taxes, transfer pricing, indirect taxes, and FEMA, for January 2025.

India's economic growth remains for a steady trajectory with real GDP expected to grow at 6.4% in FY25 and in the range of 6.3%-6.8% in FY26, reflecting resilience despite global uncertainties.

Salaried taxpayers hope Budget 2025 will see some major taxation reforms, including much-needed tax relief for them, higher exemptions, and a more inclusive financial framework.

As we stride toward the vision of a ‘Viksit Bharat,’ nine strategic priorities outlined in Budget 2024, ranging from agriculture, skilling, and manufacturing to next-generation reforms, offer a roadmap for inclusive and sustainable growth.

As we stride toward the vision of a ‘Viksit Bharat,’ nine strategic priorities outlined in Budget 2024, ranging from agriculture, skilling, and manufacturing to next-generation reforms, offer a roadmap for inclusive and sustainable growth.

The January 2025 edition of the Grant Thornton Bharat Monthly Tax Bulletin captures key developments under the direct taxes, transfer pricing, indirect taxes, and FEMA, for December 2024.

India Budget: As India prepares for the Union Budget 2025, the country stands at a crossroads, with the opportunity to assert its economic leadership on the global stage.

The financial services ecosystem went through various changes in 2024 to adjust to the realities of the world outside and within. Here is a thematic view of some interesting changes the sector experienced during the year.

Union Budget 2025 is seen as a decisive moment for India to drive sustainable growth, enhance its taxation framework, and boost global competitiveness. The key areas include expanding the PLI scheme, simplifying GST rates, resolving customs disputes, investing in infrastructure, skill development, and supporting green energy and start-ups.

In today’s fast-evolving digital payments landscape, ensuring a seamless, secure, and efficient process for bill payments has become crucial for both consumers and financial institutions.

We are pleased to release the latest edition of our RBI Regulatory updates, covering the updates from September, October and November 2024.

The eligibility of input tax credit (ITC) on immovable property under the GST regime has remained a contentious issue since its introduction. Questions have been raised particularly when such immovable property is used for generating taxable outward supplies. The ambiguity stems from inconsistent terminology, specifically the use of ‘plant and machinery’ versus ‘plant or machinery’ in Sections 17(5)(c) and 17(5)(d) of the CGST Act, which has led to divergent interpretations.

The Supreme Court's ruling in the Canon India Pvt. Ltd. v. Commissioner of Customs has sent ripples through the customs law landscape in India. In this pivotal judgment, the apex court revisited the powers of the Directorate of Revenue Intelligence (DRI).