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Digital Natives
Unlock growth with Grant Thornton Bharat's Digital Natives solutions. Customised support for tech-driven companies in healthcare, gaming, and more.
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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
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Grant Thornton’s digital transformation services help traditional businesses digitalise their business models with cloud technology, IoT consulting, app development and more DigiTech solutions.
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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.
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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.
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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.
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Tech Advisory
We have amalgamated Digital Transformation, IT Advisory & Information Management and Analytics into a new offering, DigiTech.
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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.
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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
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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.
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Financial Services - Tax
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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.
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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.
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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.
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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.
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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.
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The India Knowledge and Capability Centre (IKCC), aimed at delivering solutions by developing capabilities, has completed four years of its journey.
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Global compliance and reporting solutions
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GTMitra: Tax & Regulatory Tool
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Alerts
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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.
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Governance, Risk & Operations
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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
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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.
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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.
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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.
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Article Union Budget 2024 expectations: Building resilience for consumer industryUnion Budget 2024 expectations: Building resilience for consumer industry
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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.
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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.
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India-UK
India-UK
Labour codes introduced by Government of India are significant steps towards the much-needed labour reforms in the country. The four labour codes subsume 29 existing labour laws with an intent to simplify and rationalise the relevant provisions of the subsumed laws.
The new codes cover gig and platform workers through social security schemes for the first time. With an aim to improve ease of doing business and provide universal social security to all 500 million workforces of India, the codes will significantly impact workers and employers.
What are the four new codes
How the codes impact businesses
Widened coverage: No wage threshold for employees, definition of employer includes ‘contractor’ and ‘legal representative of deceased employer’, etc.
New definition of ‘wages’: Applicable to all employees; specified exclusions and conditional inclusions specified, cap on benefits in kind
Timeline for full and final settlement: Two days from the date of removal/resignation/retrenchment/dismissal
Stringent penal implications: Introduced for non-maintenance of registers and records under the Code of Wages, 2019 5 Payment of wages and deductions: Payment vide cheque, online mode; no unauthorised deductions allowed from the wages
Voluntary coverage: Opt in/opt out of social security schemes
Introduction of new category of beneficiaries:
Platform workers, gig workers, fixed-term employees, etc.
Introduction of the concept of holding the ‘officer in charge’: Who will be held responsible for any default in relation to payment of gratuity and contribution towards ESI
Increase in quantum of gratuity payment:
- New category of employees introduced i.e.‘Fixed term workers’ rendering services forless than 5 years;
- Working period of 3 years for journalists introduced;
- Gratuity payable to the contract labourers as well, in line with eligibility criteria are set out in the Code
Concept of fixed-term employment: Introduced with benefits not be less than of a permanent worker
Conditions for strikes and lockouts prescribed: No strikes and lock outs without giving proper notice in compliance with the norms laid down in the code
Standing orders: Required in establishments where 300 or more workers are employed
Retrenchment, lay-off and closure provisions: Not to be applicable if workers are
Concept of core and non-core workers: Employment of contract labour in core activities of any establishment is prohibited (with certain exceptions)
Canteen and crèche facility: Mandated for specified establishments
Special provisions for women: Consent of female employees required for working before 6 am and after 7pm along with other safety measures
Concept of leave rules and leave encashment introduced
Free annual health check-ups: Mandated for specified employees of specified establishments
Why Grant Thornton Bharat
Transitioning to a new legislative framework is a journey. At Grant Thornton Bharat, we are well equipped to assist you navigate through this change in legislation impacting employers across industries.
We help organisations divide their strategy in three phases, gauge preparedness and ensure a smooth transition.
Industry outlook
50% companies are prepared to implement new labour codes, says a Grant Thornton Bharat and CII survey on the industry preparedness.
Impact and analysis
Grant Thornton Bharat and IACC organised a webinar to discuss challenges arising from provisions under the law and the impact areas