Tapping into the burgeoning BFSI market
-
FinTech Consulting Services
Leveraging our FinTech Consulting experience, we employ our proven approach in process reviews, tech risk management, and third-party audits for Indian financial services clients.
The Consumer & Retail sector is growing rapidly and is extremely dynamic. Due to constant disruption, managing business has become complicated and cumbersome.
Our healthcare and life sciences advisory team brings together a combined experience of over 50 years to help businesses navigate through changes, new...
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...
M&E practice encompasses team of dynamic professionals with deep technical knowledge and extensive experience of working across segments say television, print,...
Tailored service offerings to Not for Profit organisations and CSR compliance services for dynamic businesses
At Grant Thornton, we assist dynamic Indian businesses in the Real Estate & Construction sector throughout their business life cycle by offering robust...
The October edition of the GST Compendium discusses the key aspects of the recently-notified guidelines and rates under the Remission of Duties and Taxes on Exported Products scheme and more.
Contents
Key highlights of the publication
- Important updates/announcements: The long-awaited rates for claiming benefit under the Services Exports from India Scheme (SEIS) for the Financial Year 2019-20 have been finally notified. There is an overall reduction in duty entitlement by 2% in comparison with the previous year. Moreover, benefits for certain important services, such as management consulting services and testing services, have also been withdrawn.
- Key judicial pronouncements: The Apex court has affirmed the judgment of the Madras HC that provisions restricting the refund of accumulated input tax credit (ITC) for input services (under the inverted duty structure) are intra vires and do not need to be read down.
- Important developments in direct taxes: On the direct tax front, the Central Board of Direct Taxes (CBDT) has extended the timelines for filing Income-tax returns, furnishing of tax audit and transfer pricing reports and other compliances, such as linking of PAN and Aadhaar card.
GST Compendium – October 2021
Know the key aspects of the recently-notified guidelines and rates under the Remission of Duties and Taxes on Exported Products scheme and more.