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Top 5 budget 2023 expectations of retail sector
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Article 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.
"As of now, the I-T law provided the haircut from lenders is income under the IBC and it would be taxed accordingly. If there is any reduction in the interest rate by the lenders in the form of discounted debt instruments, by virtue of the provisions of Indian Accounting Standards (Ind-AS), the valuation in the financial statements will increase the company's profit. In such cases, if the company is under MAT, it will be subject to tax on such profits. This would create a double whammy,"
Director, Grant Thornton Advisory Private Limited
This article appeared in Business Standard on 14th November, 2017.
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