Goods & Services Tax (GST)

India is noted for its intricate and complex tax structure. The much talked about ‘GST in India’ triggered the tax structure to eliminate the multiplicity of the taxes and their cascading effects and to harmonize the Centre and State tax administration. GST is an indirect tax reform, which aims to remove tax barriers between states and create a single market. It is collected on value added at each stage of supply chain right from production till distribution.

The current tax structure is undetermined and uncertain due to multiple rates, which further leads to multiple forms. However, GST will replace all the various indirect taxes and bring them under one umbrella to make compliance easier. GST in India is perhaps India’s most revolutionary and detailed tax reform ever and has been envisioned as an efficient tax system making India one unified common market.

Direct Taxation

The name suggests, are taxes that are directly paid to the government by the taxpayer. It is a tax applied on individuals and organizations directly by the government e.g. income tax, corporation tax, wealth tax etc.

In a move to establish a more efficient, effective and equitable direct tax system, the Direct Taxes Code or DTC has been drafted to replace the existing Indian Income Tax Act of 1961. It aims to consolidate and amend all laws relating to the direct taxes in order to facilitate voluntary compliance and increase the tax-GDP ratio. With its 319 Sections and 22 Schedules, the DTC aims to replace the old Income Tax Act and provide a more stable, efficient and overall better code for taxation incorporating the best taxation principles and proven international practices.

Regulatory

In one of the fastest growing economies of the world, with a dynamic regulatory environment there is a heightened need for any entity operating in India to understand and ensure due compliance with evolving legislations including the Foreign Exchange Management Act (FEMA) 1999, Companies Act 2013 & other applicable laws.

Tax and Regulatory Services
PwC assists businesses, organisations and individuals with tax strategy, planning and compliance, whilst also delivering a wide range of business advisory services.

As India’s leading tax firm with its partners among the world’s most prominent tax advisors, according to International Tax Review, the practice in India helps enterprises formulate effective strategies to optimise taxes, implement innovative tax planning and effectively manage compliance.

Transaction Advisory

Grant Thornton’s Transaction Services helps high-growth, dynamic companies across the globe navigate complex transactions, whether buying or selling, restructuring or providing capital solutions. With industry expertise, speed and agility, our senior level professionals can assist you from deal strategy, valuation and performance improvement, through due diligence, to the integration or divestiture of a business. We help you create value, manage risk and seize opportunities to unlock your potential for growth.

Strategy to execution for every capital decision
How organizations manage their capital today will define their competitive position tomorrow. We help create social and economic value for our clients by helping them make more informed decisions about strategically managing capital and transactions.

Tax valuation

Tax valuation is a critical component of any effective tax planning strategy. As regulatory focus on tax strategies continues to increase, it is important for companies to understand the true cash impact of tax valuation early in the assessment of any acquisition or significant tax event.

Accounting Services

Sometimes, businesses, especially small businesses do not maintain a full set of double entry records. Consequently, no trial balance will be produced and a complete set of final accounts cannot be prepared without further analysis of the records that do exist.

Due Diligence

Due diligence is the process of systematically researching and verifying the accuracy of a statement.

The term originated in the business world, where due diligence is required to validate financial statements. The goal of the process is to ensure that all stakeholders associated with a financial endeavor have the information they need to assess risk accurately.

When due diligence involves the offering of securities for purchase, as in an IPO (initial public offering), specific corporate officers are responsible for the proper completion of the process, including the issuer, issuer’s counsel, underwriters, CFO and the brokerage firm offering shares. Because of the delicate nature and importance of such judgments to the prospects for the performance of a company’s equities in the public market, there is a strong emphasis on neutral, unbiased analysis of both the current financial state and future prospects of the firm in question.

Management Consultancy

Management Consulting Services is a client service oriented consultancy offering time-tested solutions to your firm’s operations, financial and project management systems concerns.

Our management consulting services focus on our clients’ most critical issues and opportunities: strategy, marketing, organization, operations, technology, transformation, digital, advanced analytics, corporate finance, mergers & acquisitions and sustainability across all industries and geographies. We bring deep, functional expertise, but are known for our holistic perspective: we capture value across boundaries and between the silos of any organization. We have proven a multiplier effect from optimizing the sum of the parts, not just the individual pieces.

Audit & Assurance

In the purest sense, auditors assess a set of company accounts to determine if they are a true and fair representation of the company’s affairs on the accounts date.

Each individual line in a set of published accounts needs to be tested. Auditors do not test every transaction that led to that figure. Accounting firms offer a wide range of professional services to their clients, including audit, review, other assurance, and related services. These services are regulated, with many jurisdictions requiring compliance with international standards or national requirements that have been based on international ones. High-quality international standards increase the comparability, consistency, clarity, credibility, and transparency of financial information. And, high-quality financial information, in turn, increases the stability of the global financial infrastructure.