The Consumer & Retail sector is growing rapidly and is extremely dynamic. Due to constant disruption, managing business has become complicated and cumbersome.
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Budget 2023 expectations of retail sector
Top 5 budget 2023 expectations of retail sector
At Grant Thornton in India, our automotive team works with a wide variety of clients to help them achieve their goals and increase shareholder wealth. Our...
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Post-Budget Article: Impact on the Automotive Sector
The forward-looking approach adopted in the budget towards this sector has been in alignment with the government’s goals of promoting Aatmanirbhar Bharat and moving firmly towards net-zero carbon emissions by 2070, shares Saket Mehra in this insightful article in Financial Express.
In light of the ongoing COVID-19 crisis, the government has recently announced a slew of tax and regulatory relief measures to provide a compliance breather to businesses. However, businesses still need to remain vigilant to minimise the possible impact of COVID-19 on their people and operations.
Here’s how you can HALT and proactively review your direct tax action plan:
Tax payments
- Proactively evaluate how you will make pay necessary taxes given your current cash flow situation
Direct tax disputes
- Take stock of pending disputes and decide whether or not to opt for the Vivad se Vishwas Scheme
Extended stay
- Reassess your tax liabilities in different jurisdictions due to unforeseen travel restrictions, unplanned stays and change in residential status for employees and key personnel
Overseas operations
- Stay updated on tax relief measures announced in overseas jurisdictions to assess tax liabilities
Disruption of normal business
- Tax implications due to borrowing of funds from Indian/ overseas group entities
Investments
- Valuations at which any investment/ disinvestment or hive offs are made to be carefully evaluated
Compliances
- Evaluate compliances required to be undertaken in the next 2-3 months and make necessary arrangements
Relief measures
- Track relief measures announced by the Central/ State governments as well as tax implications arising out of relief provided under other laws
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