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Direct taxes now account for 58.5% of total tax collections, with non-corporate taxes the dominant contributor. In indirect taxes, GST is now the most buoyant revenue source. This suggests an improvement in the progressivity of the tax system, explain Richa Sawhney & Manoj Mishra.
India’s regulatory harmonisation is reshaping compliance through tech-enabled supervision, simplified norms and outcome-driven governance across RBI, MCA and SEBI.
Explore how RBI’s ECL framework introduces a forward-looking risk language, transforming credit assessment, governance, pricing, and capital strength for Indian banks.
Grant Thornton Bharat’s PolicyCast is your window into policy, tax, and regulatory developments. Each episode features expert perspectives on issues that matter to businesses, individuals, and the wider economy.
The Reserve Bank of India’s proposed Expected Credit Loss (ECL) framework marks a major shift in credit risk management for banks. By introducing forward-looking provisioning based on probability of default, loss given default, and exposure at default, the framework enhances early risk detection and capital planning. With strong governance, transparency, and global alignment, this reform positions Indian banks for improved financial resilience and compliance with international best practices.
#GTBharat’s PolicyCast is your window into policy, tax, and regulatory developments. Each episode features expert perspectives on issues that matter to businesses, individuals, and the wider economy.
India has taken one of the biggest steps in its tax journey since GST was first launched in 2017. On September 3, the GST Council announced what many are calling “GST 2.0”-a simplified tax system with fewer slabs, clearer rules, and new compliance measures. These reforms will come into effect on September 22.
The Union Budget 2025 has once again brought the debate between the old and new tax regimes into focus.
Fatima Hunaid, the leader of Grant Thornton Bharat LLP’s transfer pricing practice, discusses India’s current tax dispute resolution landscape and schemes to provide greater certainty and accelerated decision timelines.
India's expanding economy, strategic location, and diversified sectors make it a prime investment destination for international businesses.
Explore Grant Thornton Bharat insights on Union Budget 2024, focusing on expanded income tax clearance certificates and black money act liabilities.
Explore Grant Thornton Bharat analysis of Union Budget 2024 impact on medical devices Industry, including key regulatory changes and potential challenges.
Income tax changes in Budget 2024: On the personal income-tax front, the tax slab rates have been rationalised only under the new tax regime
Explore Grant Thornton's insights on Union Budget 2024 tax announcements. Understand key highlights of tax changes impacting businesses and individuals.
Union Budget 2024 expectations: Building resilience for consumer industry
Stay ahead with Grant Thornton Bharat's July 2024 Tax Bulletin. Get the latest Tax news, expert tax analysis, and news highlights.