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Context is everything.
Detailed stories on technology startups, business and economic current affairs.
Detailed stories on technology startups, business and economic current affairs.
A wave of demands for payment of GST on intra-company transactions has opened up a new front between corporates and the government. A dent to the ease-of-doing-business ranking is the likely first casualty.
Early in August, reports emerged that India’s Goods and Services Tax authorities had slapped IT services company Infosys with a whopping Rs 32,000 crore demand for unpaid taxes. Days later, Mahindra & Mahindra found itself in GST’s crosshairs.
The demands were centred around taxes payable on intra-group transactions—between subsidiaries and parent companies, between branch offices and head offices of the same company, and between related parties.
The two companies could be looking at large tax liabilities on transactions dating back to five years back, or at the very least lengthy legal proceedings. Infosys, on its part, issued press statements contesting …
Once seen as a threat, global capability centres appear to be becoming a potential growth driver for the country’s IT giants.
The retired banker wants India’s top companies to invest in AI. But the capital, ambition, and urgency simply aren’t there.
Fiscal discipline holds on paper, but the number is propped up by higher borrowing and revenue sources that are far from stable.
