-
Digital Natives
Unlock growth with Grant Thornton Bharat's Digital Natives solutions. Customised support for tech-driven companies in healthcare, gaming, and more.
-
Business Consulting
Our business consulting specialists offer a comprehensive blend of strategic advisory services. We assess the business, industry, operating model, synergy, skill sets and vision of the organisation and recommend the way forward
-
Digital Transformation Services
Grant Thornton’s digital transformation services help traditional businesses digitalise their business models with cloud technology, IoT consulting, app development and more DigiTech solutions.
-
Human Capital Consulting
Our Human Capital Consulting team harnesses technology and industry expertise to assist in constructing adaptable organisations with transparency, fostering productive and value-driven workforces, and inspiring employees to engage meaningfully in their tasks.
-
Production Linked Incentive Scheme
Production-linked Incentive Scheme by the Indian government is aimed at boosting manufacturing. Grant Thornton Bharat offers varied services across sectors to help businesses avail of this scheme.
-
Public Sector Advisory
Our Public Sector Advisory team has focused streams, aligned with the core priorities of the Government of India. We are responsible for providing innovative and customized technical and managerial solutions.
-
Tech Advisory
We have amalgamated Digital Transformation, IT Advisory & Information Management and Analytics into a new offering, DigiTech.
-
Direct Tax services
Our tax specialists offer a comprehensive blend of tax services, tax litigation, regulatory and compliance services, helping you navigate through complex business matters.
-
Indirect Tax Services
Get tax services by leading tax firm Grant Thornton India. Our indirect tax services include consulting, compliance and litigation services for corporate, international and transaction tax
-
Transfer pricing services
Our transfer pricing services experts provide a range of services from provision of APA services to handling large global assignments including Country by Country reporting.
-
US Tax
At Grant Thornton, we help individuals and dynamic companies deal with US tax laws, which are one of the most complicated tax legislations across the world.
-
Financial Services - Tax
Best financial advisory services, tailored for small and large businesses by the experts having comprehensive knowledge of domestic laws and access to multifaceted tools to provide a valuable results.
-
Financial Reporting consulting services
Our experts have significant hands-on experience in providing IFRS/US GAAP services, end-to-end solutions and support services to fulfil financial reporting requirements.
-
Fund accounting and financial reporting
International operations often lack standardisation and have varied local reporting formats and requirements. Our experts can offer proactive insights, practical guidance, and positive progress and help meet regulatory timeframes.
-
Compliance and Secretarial Services
Our experts can assist in overhauling the entire compliance machinery of the organisation through evaluation of the applicable statutory obligations, monitoring of adequate governance controls, reporting and providing ongoing support.
-
Global People Solutions
As businesses transcend borders, both domestic and global considerations need equal attention. Our interim CFO and financial controller support services help organisations meet the business vision.
-
Finance and accounting outsourcing
Our accounting experts assist organisations in managing their accounting and reporting. Our dedicated Integrated Knowledge and Capability Centre (IKCC), allows us to service both the domestic and global markets efficiently and cost-effectively
-
Compliance Management System
We have automation solutions for you that will allow meeting government requirements and remain diligent, which when failed, can lead to penalties and loss in revenue.
-
IKCC: Grant Thornton's Shared Service Centre
The India Knowledge and Capability Centre (IKCC), aimed at delivering solutions by developing capabilities, has completed four years of its journey.
-
Global compliance and reporting solutions
At Grant Thornton Bharat, we meet the challenges of our clients and help them unlock their potential for growth. Our professionals offer solutions tailored to meet our clients’ global accounting and statutory reporting requirements. With first-hand experience of local reporting requirements in more than 145+ locations worldwide, we provide seamless and consistent international service delivery through a single point of contact.
-
Related Party Transactions Governance
Grant Thornton Bharat's comprehensive related-party transaction services ensure good governance by adhering to regulatory requirements, promoting transparency, and providing robust policies for compliance, documentation, and accountability in related-party transactions.
-
Private Client Services
Grant Thornton Bharat Private Client Services offers tailored advisory for family-owned businesses, focusing on governance, compliance, tax, succession planning, and family office structuring to sustain wealth and preserve legacies across generations.
-
GTMitra: Tax & Regulatory Tool
GTMitra, a specialised tax and regulatory tool by Grant Thornton Bharat, supports multinational businesses in understanding laws and regulations for effective growth strategies.
-
Labour codes
Labour codes solutions help you transition through the new legislation. At Grant Thornton, we help businesses divide their approach to make sure a smooth transition.
-
Alerts
At Grant Thornton India, with the help of our tax alerts, we help to provide updates on how to minimise your tax exposure and risks.
-
Cyber
In today’s time, businesses have gone through large transformation initiatives such as adoption of digital technologies, transition to cloud, use of advanced technologies et al.
-
Governance, Risk & Operations
Our Governance, Risk and Operations (GRO) services encompass Internal Audit, Enterprise Risk Management, Internal Financial Controls, IT advisory, Standard Operating Procedures and other services.
-
Risk analytics
Grant Thornton Bharat’s CLEARR Insights is a state-of-the art data analytics platform that will help you in seamless data analysis and efficient decision-making.
-
Forensic & Investigation Services
The team of forensic advisory services experts consists of the best intelligence corporate experts, and fraud risk, computer forensic experts to deliver most effective solutions to dynamic Indian businesses.
-
ESG consulting
Grant Thornton Bharat offers holistic ESG consulting solutions for sustainable business outcomes. With industry expertise and AI technology, we drive long-term value.
-
Transaction Tax Services
Our transaction tax experts understand your business, anticipate your needs and come up with robust tax solutions that help you achieve business objectives ensuring compliance and efficiency
-
Deal Advisory
Unlike other M&A advisory firm in India, we offer deal advisory services and work exclusively with controlled and well-designed strategies to help businesses grow, expand and create value.
-
Due Diligence
Grant Thornton’s financial due diligence services are aimed at corporate looking for mergers and acquisitions, private equity firms evaluating investments and businesses/promoters considering sale/divestment.
-
Valuations
As one of the leading valuation consultants in India, Grant Thornton specializes in all the aspects of the process like business valuation services, financial reporting, tax issues, etc.
-
Overseas Listing
Overseas listing presents a perfect platform for mid-sized Indian companies with global ambitions. Grant Thornton’s team of experts in listings, work closely with clients during all stages.
-
Debt & Special Situations Solutions
Grant Thornton Bharat offers specialist debt and special situations consulting services, including restructuring, insolvency, and asset tracing solutions.
-
Financial Reporting Advisory Services
Grant Thornton Bharat Financial Reporting Advisory Services offer end-to-end solutions for complex financial requirements, including GAAP conversions, IPO support, and hedge accounting advisory, ensuring accurate financial reporting and compliance.
-
Financial Statement Audit and Attestation Services
Grant Thornton Bharat offers customised financial statement audit and attestation services, ensuring impeccable quality and compliance with global standards. Our partner-led approach, technical expertise, and market credibility ensure effective solutions for your business needs.
- Agriculture
- Asset management
- Automotive and EV
- Aviation
- Banking
- Education and ed-tech
- Energy & Renewables
- Engineering & industrial products
- FinTech
- FMCG & consumer goods
- Food processing
- Gaming
- Healthcare
- Urban infrastructure
- Insurance
- Media
- Medical devices
- Metals & Mining
- NBFC
- Pharma, bio tech & life sciences
- Real estate and REITs
- Retail & E-commerce
- Specialty chemicals
- Sports
- Technology
- Telecom
- Transportation & logistics
- Tourism & hospitality
-
Article Agriculture and Budget: Immediate compulsions and long-term visionGovernment focuses on sustainable agriculture, digital infrastructure, and market intelligence to enhance productivity and global competitiveness in agriculture.
-
Article Union Budget 2024 expectations: Building resilience for consumer industryUnion Budget 2024 expectations: Building resilience for consumer industry
-
Thought Leadership Grain to gain: Impact of corn on India’s biofuel revolutionExplore Grant Thornton insights on unlocking India’s Energy Potential on Corn-Based Ethanol as a sustainable fuel solution.
-
Case study Transforming agriculture: The rise of Drone DidisDiscover how Grant Thornton Bharat's Drone Didis initiative empowers rural women and transforms agriculture with drone technology. Learn more about this success.
-
India-UK
India-UK
Sebi was slapped with the order in March 2015, which the market watchdog refuted saying that they were exempt as per the Sebi Act
The Securities and Exchange Board of India (Sebi) may need to pay Rs.500 crore in service tax.
The budget, which made amendments to the service tax regime, said that financial regulators will be exempt from tax on the services provided by them from April 2016. Since the amendment is with prospective effect, Sebi may need to comply with a pending demand for Rs.500 crore in service tax, said two people familiar with the matter.
Sebi was slapped with this service demand in March 2015, which the market watchdog refuted saying that they were exempt as per the Sebi Act.
“The new amendments will not affect the previous tax demand. However, Sebi can take input credit in lieu of the service tax demand,” said one of the two people quoted above, a senior tax official. He spoke on the condition of anonymity.
A second finance ministry official reiterated this view without divulging details.
An email sent to Sebi on Tuesday and the Central Board of Excise and Commissions (CBEC) on Wednesday did not elicit a response till press time.
The Union budget exempted the regulators such as Sebi, insurance regulator, Insurance Regulatory and Development Authority of India (IRDAI), pension regulator, Pension Fund Regulatory and Development Authority (PFRDA) and Employees’ Provident Fund Organization (EPFO) from the service tax prospectively starting April 2016.
A person familiar with Sebi’s thinking said that Sebi has explained its stance to the ministry and the ball is in government’s court. “So far Sebi has not paid the amount and will go by the provisions in Sebi Act,” he said requesting anonymity.
Experts are of the view that Sebi is liable to pay the amount sought by the tax department.
“According to the Finance Bill, the exemption has been given prospectively, with effect from 1 April 2016. Unless the law clearly says its applicability is to be retrospective, it may not be applied from an earlier date,” said Vaneesa Agrawal, securities lawyer and ex-Sebi officer.
The tax demand was raised against Sebi for the period between 2012 and 2015. The Rs.500 crore tax demand included penalty and interest. Delay up to six months attracts 18% interest while it is 30% for more than a year.
In response to the tax demand, Sebi had argued that it is not liable to pay service tax according to provisions of Section 25 of the Finance Act. The section states that from the date of Sebi’s constitution to the date of establishment it is not liable to pay wealth tax, income tax or any other tax on their wealth, income, profits or gains derived.
However, in August 2015, the ministry wrote back saying that Sebi is liable to pay service tax for the services it provides. The government’s view was based on the negative list of services released by the government in 2012. Regulators such as Sebi, IRDA, PFRDA and EPFO were not a part of the negative list even though the Reserve Bank of India was.
Sebi provides services to stock exchanges, its members, brokers, and investors for processing of IPOs, debt issues, mutual fund, new fund offers and other services, including informal guidance to companies.
As per Sebi annual report, in 2014-15, Sebi received total fees of Rs.322.85 crore as against Rs.175.35 crore in 2013-14.
“The amendment in the service tax regime is prospective in nature and any demands raised in the past will not be impacted because of this exemption. If the intent is to give complete exemption from service tax demand then the nature of amendment should be retrospective which hasn’t happened in this case,” said Amit Kumar Sarkar, Partner, Grant Thornton India LLP (Indirect Tax).
M.S. Mani, senior director, Deloitte shares that view.
“The exemption notification is very specific and grants an exemption to these regulatory bodies from the next financial year. So, any previous service tax demand notice cannot be withdrawn. Whether the regulator needs to pay for the previous period would need to be adjudicated on merit,” said Mani.
This article appeared in Live Mint on 03rd March, 2016.