"Chartered Accountant having more than three years of experience in one of the 'Big4' consulting firms, I have assisted multinational companies in international taxation and intra-group pricing (transfer pricing) consulting. I have assisted - unicorn start-ups (like a fantasy gaming company, dating-app company, etc.), - clients in the service industry, consumer industry, manufacturing industry, including Fortune 500 companies in their international tax matters and to set & test their pricing strategies. Studying for a Degree of Law and Diploma in International Taxation has supplemented my qualification and experience. If you are looking for 'Big4' level quality and professionalism coupled with dynamic and innovative solutions for your international tax and pricing strategies, I would be the right person to have a discussion."
In our previous post, we discussed typical business models and key business metrics of food delivery startups. Let’s continue the discussion on revenue streams and cost structure in the food delivery space. Revenue streams Since food delivery businesses are marketplace which connect restaurants to customers, the primary revenue streams are two-fold: Commission per order (as […]
The convenience of ordering food on-click coupled with the necessity arising out of COVID-19 pandemic has enabled the proliferation of food delivery start-ups in recent times. Multiple food options at tips of the fingers and quick delivery at any time and place have made such start-ups popular among millennials and Gen-Z. Therefore, the growth of […]
Earlier to Finance Act 2017, section 10(38) of Income Tax Act provided opportunity to tax-evaders. It provided the exemption of tax on the capital gains arising on sale of equity shares after one year of its acquisition, if transaction was chargeable to securities transaction tax (STT).
While the Government can be blamed for due date challenge faced by chartered accountants; it is time for practitioners to look at the sustainable solutions to this challenge.
As a measure of safeguard against base erosion and profit shifting (BEPS) by Multinational Enterprises (MNEs) and following the Action Plan 13 of OECD, of which the India is a member country, the amendment was made recently in the Income Tax Act mandating the maintenance and furnishing of Master File and filing of Country-by-Country Report (CbCR). The draft rules for public discussion relating to the said amendment were notified on 6th October 2017.
After 30th September 2017, drawback will be admissible only at lower rate determined on the basis of the custom duties paid on the goods imported for supplying goods for export.
This additional reporting requirement not only places the additional compliance burden on the taxpayers but also calls for the broader tax management on part of taxpayers to avoid tax litigations originating from wide variances between “estimated income” reported in the intimation and “actual income” reported in the Income Tax Return at end of the year.
The transaction with related persons has been a special area of consideration for government and tax authorities on the assumption that the transaction may be motivated by something more than earning the profit. GST has introduced certain provisions that will affect the related party transaction of the business owner.
Govt. came up with concept of Electronic Way Bill (also known as e-way bill). The Central Govt., through CBEC has issued Notification 27/2017, laying down rules in respect of e-way bill.
If the e-way bill is generated neither by Consignor nor by Consignee and the goods are handed over to transporter, then, Transporter must generate e-way bill. However, transporter is not responsible to generate an e-way bill in case of transport by railway, by air or by vessel.
