Harpreet Singh

Partner - Indírect Tax (GST & Customs) in KPMG India. Avid Reader and Armchair Sportsperson. Aspire to be a Solutions Provider and not just a Service Provider

[KPMG India @KPMGIndia]

#UnionBudget2023 | @cahsingh1, @KPMGIndia: In line with the trend from past years, to provide impetus to #domesticmanufacturing, #customsduties have been increased on bicycles, electric chimneys, toys, compounded rubber, and reduced on parts for manufacture of TV panels,

[KPMG India @KPMGIndia]

A complimentary supply to unrelated parties without any consideration — such as a goodwill gesture towards local officials — is not a ‘taxable supply’ and will be out of the ambit of #GST: @CAHSingh1, @KPMGIndia https://t.co/R8hwG7DIzH

[KPMG India @KPMGIndia]

Small businesses would now need to adopt #taxtechnology solutions to integrate their accounting systems with the government's invoicing portal for all business-to-business transactions: @CAHSingh1, @KPMGIndia https://t.co/rIBSkQo4xE

[ET SME @ET_RISE]

AAR held that the promotional items cannot be considered as gifts since they are given at a consideration.
#diwali #gst @cahsingh1 @KPMGIndia https://t.co/VEVny1ULnd

[KPMG India @KPMGIndia]

With M&A transactions on the rise, rulings such as these not only provide tax certainty but also boost investor confidence: @cahsingh1, @KPMGIndia https://t.co/zgLG0onJUv

[KPMG India @KPMGIndia]

The ruling may prove to be significant for taxability and litigation around compensation/ liquidated damages under #GST: @CAHSingh1, @KPMGIndia https://t.co/pNBOP0v7Fd

[KPMG India @KPMGIndia]

Reducing the general interest rate to match with some of the developed nations may boost the sentiments of Indian taxpayers during these challenging times: @CAHSingh1, @KPMGIndia https://t.co/pb0HK6hHhv | #GSTCouncil

[KPMG India @KPMGIndia]

Many corporates are supplying free #Covid19 related material to employees & their families. #GST reimbursement of such free supplies to employees, apart from the free supplies to government, is likely to provide more respite to the industry: @cahsingh1 https://t.co/ak8mijdr3e.

[KPMG India @KPMGIndia]

Is your #tax function technology-enabled? @KPMGIndia's tax technology solutions can help accelerate the digital transformation of your tax function. To learn more, visit https://t.co/s0w2COjHu9

[KPMG India @KPMGIndia]

#Budget2021 is positive for #consumermarkets from a tax standpoint. Initiatives have been taken to encourage #domesticmanufacturing and discourage #imports: Harpreet Singh (@CAHSingh1), @KPMGIndia | #KPMGBudgetLive

[KPMG India @KPMGIndia]

#Indirecttaxes in #Budget2021 - What to expect? @CAHSingh1, @KPMGIndia in conversation with @boomlive_in https://t.co/KvaA9Wui0R | #UnionBudget2021 #KPMGBudgetLive

[KPMG India @KPMGIndia]

Hopefully, this ruling would be sagacious enough to attract the eyes of taxpayers and the authorities, as the reasoning provided for non-applicability of #GST on #electricity appears to be cogent: @CAHSingh1, @KPMGIndia https://t.co/7QH7JTGawk

[BOOM Live @boomlive_in]

#BOOMExplains: What is the issue in increasing custom duty in India in #Budget2021?
"Raising import duty curtails imports, but also leads to supply chain issues. Tariff increase leads to inflation as suppliers can't meet demand," says Harpreet Singh, @KPMGIndia to @govindethiraj.

[ET SME @ET_RISE]

The company subsequently made a submission before the tax authorities that the said failure is because of the glitches in the GSTN portal, which had defeated its substantive right to transition tax credit. 🔒
#gst #tax @cahsingh1
https://t.co/ZgisPkX8yZ

[KPMG India @KPMGIndia]

The next #GST challenge in coming months would be, collating documents, preparing flow charts, answering questionnaires, and explaining reasons for the difference in multiple reconciliations, during department-initiated #GSTAudits: @CAHSingh1, @KPMGIndia https://t.co/lAGBqcJwP4

[KPMG India @KPMGIndia]

The clear standout sector for #VCinvestment in India has been #edtech. Going well beyond the traditional #K12 model, it has diverse offerings and will likely remain a very hot investment area for some time: @Nitishpod, @KPMGIndia. Read more https://t.co/T6G5YQu9ly | #Q3VC

[ET SME @ET_RISE]

#India traditionally has had a vibrant #cottage industry. But, with the #pandemic wreaking havoc across sectors, India's cottage industry also took a body blow. 🔒

#MSME @FISME @VFSPL @MaityKuldip @cahsingh1 @KPMGIndia @indianchamber15 @cyclepure #ECLGS
https://t.co/rWRlkyihd1

[KPMG India @KPMGIndia]

While transactions between related persons are liable to #GST, even if the same are without consideration, ascribing value to the same is always a challenge, especially when appropriate benchmarking is not available: @CAHSingh1, @KPMGIndia https://t.co/8PlvwJGAs8

[KPMG India @KPMGIndia]

Join Senior @KPMGIndia Partners for a webinar on a landmark ruling of Delhi Bench of the Income Tax Appellate Tribunal delivered on 13 Oct in the context of taxation of #dividends. Register:

10:30-11:30 a.m. : https://t.co/r6H2IVMCyB
9:00-10:00 p.m. : https://t.co/7iShwj4D9M

[KPMG India @KPMGIndia]

Most of the companies are anyway struggling to implement #einvoicing from Oct 1. Extension of #GST annual compliances would give them some breathing space, else many would have not been able to meet both the deadlines: @CAHSingh1, @KPMGIndia https://t.co/PnnVgVeb2C