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Showing posts from January, 2018

Features of a Reliable Business Advisory Firm

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When your business is anticipating growth, a reliable business advisory firm can take your business to new heights. But it is quite difficult to find a reliable team of chartered accountants who can push your business during the times of unbalance and help you to achieve success.
Many businesses refrain from contacting a business advisory firm as they do not trust their efficiency or think that they are more focused earning profits. But on the contrary, businesses need to  spend a reasonable amount of time to find a reliable business advisory.
In a brief talk with VGNC, one of India’s fastest growing global business advisory firm, we were able to list down some features of a reliable business advisory firm that is in tune with recent needs of the Indian market. Given below are some features a good advisory firm should have:
A Partner You can Grow with
Vipin Garg of VGNC says, “A business advisory firm should be able to understand all the issues form their client’s viewpoint to find sol…

New Finance Panel and a Task Force: What can be expected from New Tax Laws

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The cabinet approved the constitution of the fifteenth finance commission. The fifteenth finance commission will determine the devolution formula for the revenue sharing between Centre and state (from 2020 to 2025). It will also have its task cut with the new tax system.
The panel will have to deal with significant changes in the taxation framework, such as GST before making recommendations. Finance Minister Arun Jaitley announced that the cabinet had given an in-principle approval to form the commission and negotiate its terms of reference.The commission, whose members and terms of reference will be notified after finalisation, will make crucial recommendations which will be more in tune with India’s economic needs.
The recommendations made by Fourteenth Finance Commission were accepted by the Government. These recommendations will be brought into effect until March 31, 2020. As per the recommendation, the states’ share of the central pool of taxes was increased from 32…

Exclusive Overview of Indian Retail in 2017, what to expect in 2018

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Real Estate under GST: Impacts You Need to Know

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Real Estate under GST: Impacts You Need to Know

Considered as one of the most pivotal sectors of the #Indianeconomy, #realestate sector is the largest employer in the economy coming only after agriculture sector. With an average of 5-6% contribution to the GDP at present, it is set to grow at a compounded annual growth rate of 30% in over the 10 years. Although real estate sector generates a staggering amount of revenue, it has been embroiled in disputes in the past years due to multiple taxations and ambiguity in provisions. Notorious for tax evasion and cash transactions, here is how GST will affect the real estate industry as a whole.



Simplification of Tax
• The most positive takeaway for #Consumers and #investors is the emergence of a simple tax that applies to the overall of the purchase price.

The consumers and investors were hassled by the #taxrates earlier as they were levied depending on the construction status of the property. While purchasing an under constructi…