India entered COVID-19 crisis with limited fiscal space, having breached the previous budget deficit target of 3.3% and raising 0.5%. with a dwindling fiscal outlook, any further fiscal easing will put pressure on india’s sovereign rating. Governments dedicate more than $8 tn to fight COVID_19 pandemic. India’s lockdown measures seem to be at par with developed countries. But while they […]
Role and position of Internal Audit function in an organization is going to witness major changes post Covid 19 as its working environment and expectations are likely to change significantly. This article is intended to highlight the ways internal audit can upgrade itself to effectively add value across the organization and maximize its influence on the company in a sustained […]
In the times of pandemic, GST Authorities have extended few benefits to generals by relaxing late fees and interests on compliances, processing refunds at earliest, easing FTP guidelines pertaining to import and export. A few of relaxation and favorable amendments have been made by CBIC in past one month, few of them are briefed as under. Jharkhand High Court, Ruling-1 […]
Due to travel restrictions on account of Coronavirus pandemic, those on foreign work tours cannot commute back to the country of their residence. Determining the tax residence of the stranded individuals/employees is questionable. Further, adding fuel to the fire, the Indian government has made the norms for determining the tax residency of individuals much more stringent for this FY 19-20. […]