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Articles In Newspapers & Journals

India’s Ever-Changing Tax Regime Flummoxes Companies – Himanshu Relan

Dear All Businesses are struggling to keep up with the pace of changes to India’s tax regime, more than a year after the government’s bold push to simplify the country’s labyrinthine system. The steady stream of changes to the goods and services tax regime has left many companies baffled. Authorities on Sept. 10 extended a raft of deadlines for filing tax returns after businesses roundly failed to meet them.
  1. Himanshu Relan, Partner- GST shares his views on aforementioned story for Bloomberg- BNA.
India’s Ever-Changing Tax Regime Flummoxes Companies
Communique - Your Transfer Pricing Tabloid

Communique- Your Transfer Pricing Tabloid- Issue 2

Hope you enjoyed our First Edition of Communiqué – Your TP Tabloid! In this second edition for the month of August 2018, we again see Central Board of Direct Taxes (CBDT) continue with its efforts to amend domestic framework and marching ahead with its Advance Pricing Agreement program. Transfer Pricing (TP) enters the Tax Audit Report in Form 3CD for the first time to increase compliance requirements and the issue pertaining to Advertisement, Marketing and Promotion (AMP) transactions in the Indian Courts continue to oscillate. Separately, considering changes that are occurring on a number of fronts in India, it is only fair to pause to assess how India Inc. has fared so far and the areas where it needs to expend efforts in the future as it gears to fulfil obligation to file Master File (MF) and Country-by-Country Report (CbCR) in the second round. We hope that our publications are beneficial and help you in understanding the potential impact of the changes with respect to your business in India. We look forward to receive your contributions/ suggestions at query@localhost, as through a mutually inclusive process we wish to make this series your sounding board for decision on TP going forward. Separately, if you would like to discuss any of the items in this issue in greater detail or general TP matters, please do let us know. Happy Reading! We are pleased to attach herewith the second issue of “Communique- Your Transfer Pricing Tabloid- Issue 2”. Hope you will find it useful and informative. Communique- Your Transfer Pricing Tabloid- Issue 2
Articles In Newspapers & Journals

Walmart paid Rs 7,439 crore tax on Flipkart deal; did not deduct taxes from 34 shareholders – Rakesh Nangia

Dear All US-based retailer Walmart Inc. has paid ₹ 7,439 crore tax on payments it made to buy out shares of 10 major shareholders of Flipkart but hasn’t yet done so for another 34 who exited the Indian e-commerce company in the $16 billion deal, tax officials have said. As many as 44 shareholders of Flipkart, including significant ones such as SoftBank Group Corp., Naspers Ltd, venture fund Accel Partners LP and eBay Inc., had sold their holdings to Walmart. Of the 44 shareholders in Flipkart who have sold shares, Walmart has deposited taxes for only 10 funds and entities. Rakesh Nangia, Managing Partner shares his views on aforementioned story for PTI. (This news has been picked up by 492 other news publication like Economic Times, Business Standard, Livemint, Hindu Business Line, The HINDU and many more..) Walmart paid Rs 7,439 crore tax on Flipkart deal; did not deduct taxes from 34 shareholders