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Special Edition Webcasts

Indirect Tax

Goods and Services Taxation in India: A New Beginning

Thursday, 14 May, 11:30 AM – 12:30 PM India time

The introduction of Goods and Services Taxation (GST) in India has seen numerous delays caused by many factors, such as concerns over the loss of fiscal autonomy enjoyed thus far and issues surrounding which taxes to subsume and which goods to exclude from GST. The new Government has, however, shown serious intent of pushing forward with this important tax reform. The Loksabha (lower house of the Parliament) has passed the Constitution amendment bill with an overwhelming majority on 6 May. As the origin-based Value Added Tax (VAT) system gives way to consumption-based tax systems in the proposed GST in India, all stakeholders will need to gear up to meet the challenges. We’ll discuss:
•         Current state of the indirect taxes and what GST promises.
•         Constitution amendment and proposed structure.
•         Challenges in migrating to the new business procedures and key functional issues.
•         Lessons to be learnt from regional developments on tax reforms, mainly in Malaysia and China.
Gain insights from the Deloitte experts with an in-depth analysis of the 2015 India's Budget.

India Spotlight

Income Computation and Disclosure Standards (ICDS): What Will be the Impact on Your Tax Outgo?

Wednesday, 3 June, 11:30 AM – 12:30 PM India time

Recently, the Central Board of Direct Taxes (CBDT) has issued Income Computation and Disclosure Standards (ICDS) which will come into effect from 1 April 2015, and apply accordingly for assessment year 2016-2017 onwards. Ten ICDS have been issued in a wide range of areas encompassing accounting policies, inventories, revenue recognition, tangible fixed assets, and effect of changes in foreign exchange rates amongst others. These have far-reaching impact on the tax computation, deferred tax, and Minimum Alternative Tax (MAT) credits. What is the key impact on tax positions that arises out of ICDS? We'll discuss:
•         Effect of ICDS implementation – ICDS mandatory? Impact of ICDS on Act? Impact of ICDS on past judicial precedents?
•         Impact assessment on tax positions and effective tax rate.
•         Specific issues arising from ICDS and practical tips on further evaluations.
•         The way forward to manage the impacts of ICDS.
Stay up to date on the latest developments in ICDS and discover what they could mean for your organization.

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