GST Impact on Exports & Imports in the Textile industry

Since exports under GST would be zero rated, this would give a competitive edge to textile exports from India which is facing a strong competition from Bangladesh, Pakistan etc. Hence, integrated textile companies should see this as an opportunity, as the advent of GST will spur the textile sector with major capital investments bringing the cost of capital down. Continue reading

Posted in GST |

Impact of GST on Textile Industry

The tax rate under GST is higher than the current tax rate for the textile industry. Despite this, the textile industry would benefit from the introduction of GST due to following changes: Continue reading

Posted in GST |

Family Offices – A Boost for the Start Up Eco-System

According to the latest data released by the World Bank, India’s GDP is expected to reach USD 5 trillion by 2025. After taking 60 years to reach the USD 1 trillion mark, India added the next trillion in just seven years. As per the latest IMF forecasts, India’s real GDP will grow at 7.6 % in 2016-17 and 2017-18 which is the highest among the major economies. Continue reading

Posted in Transaction Advisory |

Proposed Financial Year change from 2018

The Union Government is planning to change the financial year accounting from January to December, from 2018. If implemented, this would be another major change after the Budget presentation on February 2017. Continue reading

Posted in Finance Budget |

Final Rules prescribing method of valuation of unquoted shares

CBDT has notified amended Rule 11UA prescribing method of valuation of fair market value (‘FMV’) of unquoted equity shares for the purpose of section 56(2)(x) . Section 56(2)(x) provides that where any person received any property without consideration or for a consideration less than FMV then the difference between FMV and consideration paid shall be deemed to be the income of the receiver. Continue reading

Posted in Direct Tax |