IN THE NEWS

Dhruva Knowledge Roundtable - Simplifying Pillar Two-GloBE Rules

The Pillar Two-GloBE Rules will be effective from FY 2024-25 and Indian headquartered groups will be impacted if they are present in any of the jurisdiction which has enacted the GloBE Rules. The application of these rules may lead to additional tax exposure in addition to the compliance burden. To shed further light on this and to provide insights, Dhruva Advisors hosted an engaging roundtable, providing an overview of the Pillar Two-GloBE Rules. Clients engaged with our experts and this roundtable became an excellent opportunity for clients to address queries or concerns that they had regarding this new international tax framework.

Dhruva Advisors Singapore, High Commission of India in Singapore, Federation of Indian Chambers of Commerce & Industry (FICCI) and Singapore Indian Chamber of Commerce and Industry (SICCI) on India Union Budget 2023-24.

The Hon’ble Finance Minister tabled the last full Union Budget of this government for the fiscal year 2023-24 with the aim of steering the Indian economy over the next 25 years of Amrit Kaal – from India at 75 to India at 100. This is yet another year where the Government proposes to provide significant impetus to, inter-alia, infrastructure spend, digitisation and financial inclusion. The budget is in line with the vision of our Hon’ble Prime Minister to make India Atma Nirbhar and a digital giant. Here’s our webinar recording that summarises and discusses the highlights of the policy announcements and the tax proposals.

Link to the copy of the presentation and recording is available here:

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webinar recording 

Budget Analysis Session on the Union Budget 2023-24 | Kolkata

Dhruva Advisors LLP hosted a 'Budget Analysis Session on the Union Budget 2023-24' jointly with the Indian Chamber of Commerce (ICC) at Kolkata on February 02, 2023. The discussions included tax experts from Dhruva, key industry analysts and distinguished economist. The speakers deliberated and interpreted the budget’s impact on both direct and indirect taxes in India. The session was very well received by the participants.

Analysis of the Union Budget 2023-2024 | Kolkata

Dhruva Advisors in association with The Bengal Chamber of Commerce & Industry (BCC&I), organised a session on 'Analysis of the Union Budget 2023-2024' on February 02, 2023 in Kolkata and online. Mr. Dinesh Kanabar, CEO, Dhruva Advisors LLP and Mr. Aditya Hans, Partner, Dhruva Advisors LLP deciphered the Budget’s fine print on taxes and considered its industry-wide implications. The session also covered Economic and Industry Perspectives on the Budget followed by Panel Discussion on the Union Budget. The discussions included tax experts from Dhruva Advisors, key industry analysts and distinguished economist.

India Union Budget 2023-24 | Post Budget Analysis | Ahmedabad

On February 1, 2023, the Hon’ble Finance Minister announced the last Full Budget prior to the national elections in 2024. As mentioned by the Hon’ble Finance Minister in her speech: "This Budget lays a futuristic 'Amrit Kaal' for women, youth and marginalised communities, big public investment for infrastructure guided by PM Gati Shakti, productivity enhancement, energy transition and climate action and financing of investments."

Dhruva Advisors held an event wherein, senior professionals of Dhruva Advisors along with stalwarts under the tax, economy and industry provided a 360° analysis of the Budget proposal.

E-Conclave on 4 years of GST

ASSOCHAM and Dhruva organised an E - Conclave on 4 years of GST on 9th July 2021 discussing the key developments under GST regime and suggested best practices that industry should adopt during & post COVID-19.

The issues that were covered included:

• The next 4 year- Key areas of expected disputes and what assesses can do to prepare
• The Journey so far- Special focus on Healthcare exemption in critical times
• Open House Session with Shri S K Rahman, Joint Secretary, GST Council to discuss the concerns of the Industry members

Vivad se Vishwas Scheme

Dhruva Advisors LLP hosted an outreach programme garnering practical insights of 'The Direct Tax Vivad se Vishwas Bill, 2020' at Hotel Courtyard by Marriott, Ahmedabad on 6 March 2020.

Our Partners Mr. Vishal Gada and Mr. Sandeep Bhalla presented the topic. Several senior tax officials from the income-tax department also attended this programme and shared their views with the participants.

The programme was well received by the participants and concluded with exchange of thoughts amongst the attendees.

Institute of Chartered Accountants of India organizes a study course on multilateral instrument

The Western India Regional Council of the Institute of Chartered Accountants of India organized a study course on multilateral instrument. The multilateral instrument provides a mechanism to modify bilateral tax treaties and incorporates BEPS treaty related measures. From an India perspective, the multilateral instrument enters into effect from April 1, 2020.

Prashant Bhojwani was the speaker at the above study course on the topic of "treatment of transparent entities as per multilateral instrument"

Dhruva Advisors Singapore, Enterprise Singapore and Singapore Indian Chamber of Commerce and Industry (SICCI) on India Union Budget 2020

Dhruva Advisors, supported by Enterprise Singapore and Singapore Indian Chamber of Commerce and Industry (SICCI) hosted a webinar session on Feb 06th, 2020 to deliberate on the impact of the India Union Budget 2020 tax proposals on the foreign investors and the Indian economy.

Dhruva Partners - Mahip Gupta and Vishal Gada led the session and industry experts provided their in-depth insights on key policy and tax announcements.

Link to the copy of the presentation and recording is available here:

view presentation 

webinar recording 

Union Budget 2020-21 Client Breakfast Seminar, Mumbai

The Union Budget 2020-21 was presented by the Finance Minister on February 01, 2020 and the Government rolled-out many far-reaching changes in provisions, that were finely nuanced. However as always there is a need for the provisions to be carefully analysed, implications discussed and way forward evolved.

Dhruva Advisors hosted a Client Breakfast Seminar on Tuesday 04, 2020 at the Four Seasons Hotel, Mumbai, sharing an in-depth analysis by Dhruva’s Experts on our interpretation of the Union Budget 2020-21.

Union Budget 2020-21 - Technical Discussion

Dhruva Advisors LLP hosted a session on ‘Union Budget 2020-21 - Technical Discussion’ at Radisson Blu, Ahmedabad on 3rd Feb 2020. Our Partners - Vishal Gada and Niraj Bagri presented their thoughts on the key proposal of the Budget. The session was chaired by Shri Saurabh Soparkar, Senior Counsel who also shared his thoughts on the Budget. The session was followed by a discussion with eminent industry representatives who shared their views and perspective on the Budget and its likely impact on the Indian economy. The session was well received by the participants and concluded with exchange of thoughts amongst the attendees.

Budget Analysis Seminar on the Union Budget 2020-21

Dhruva Advisors LLP hosted a "Budget Analysis Seminar on the Union Budget 2020-21" jointly with the Indian Chamber of Commerce (ICC) at Kolkata on 4 Feb 2020. The discussions were led by Aditya Hans, Ranjeet Mahtani and Basant Gadhyan. Impact and opportunities emerging from the Budget were discussed and our speakers deliberated with the industry leaders on practical considerations, insights and challenges on the proposed amendments. The session was very well received by the participants.

New Singapore Fund Structure - India & Singapore perspective

Dhruva Advisors recently hosted a breakfast session in Mumbai for the financial services industry, deliberating on the "New Singapore Fund Structure – An India & Singapore Perspective". This highly relevant and topical session was helmed by Dinesh Kanabar, Mahip Gupta and Punit Shah.

Do reach out to our specialists (punit.shah@dhruvaadvisors.com and mahip.gupta@dhruvaadvisors.com) for further insights on how we could be of relevance to your organization.

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Seminar on 'The Taxation Laws (Amendment) Ordinance, 2019' and 'E-assessment Scheme, 2019' at Ahmedabad

Dhruva Advisors LLP hosted a seminar on 'The Taxation Laws (Amendment) Ordinance, 2019' and 'E-assessment Scheme, 2019' at Ahmedabad.

Our Partners Vishal Gada and Sandeep Bhalla presented these topics and engaged in a dialogue with industry leaders. The session was well received by the participants and concluded with the exchange of thoughts amongst the attendees.

Transfer Pricing and Indirect Taxes – A Coordinated approach

Dhruva Advisors LLP hosted a #seminar and panel discussion on 'A Coordinated approach between Transfer Pricing and Indirect Taxes' at Pune on Oct. 16, 2019. Our partners Rahul Mitra, Sudhir Nayak, Ranjeet Mahtani and Venkatachalam K presented this topic and engaged in a dialogue with industry leaders on practical considerations, insights and challenges in this harmonised approach between Transfer Pricing and Indirect taxes.

Impact and opportunities emerging from the Taxation Laws (Amendment) Ordinance 2019 were also discussed.

Conference on attribution of profits to permanent establishment

Rahul Mitra was invited to speak in the conference on attribution of profits to permanent establishment, organised by the Vienna University of Economics and Business on 14th October, 2019 in Vienna.

He participated in three of the panel discussions, namely – (1) Article 7 AOA vs Article 9 OECD/ UN; (2) Profit attribution to PEs and PE exemptions; and (3) Profit Attribution to Agency PEs.

Other speakers across the three panels included – (a) distinguished professors of the Vienna and other Universities, Dr Raffaele Petruzzi; Dr Alfred Stock and Dr Adolfo Martin Jimenez; (b) Veronika Daurer, Austrian IRS; (c) Hartmut Foster, German IRS; (d) Colin Miller, Swedish IRS; (e) Tax Partners of PwC Germany and Deloitte Austria, etc.

Direct Taxes – Getting Ready for a Makeover

Dhruva Advisors hosted a seminar on 'Direct Taxes – Getting Ready for a Makeover' for its clients on October 10, 2019, at Hotel Le Meridien in Gurgaon.

Our CEO, Dinesh Kanabar, along with partners, Vaibhav Gupta and Rahul Mitra presented and engaged in a conversation with CFOs and Tax Heads on the Tax Stimulus and Global Tax Trends, M&A – Recent Trends, and Planning Around Transfer Pricing.

Law Reforms by Modi Government for New India

Dinesh Kanabar spoke at an event hosted by the Hon’ble Minister for Law and Justice on Law Reforms under the present government. The Law Reforms, the legal profession and the judiciary have been under deep scrutiny. A lot has happened of late and the Minister was eloquent and elucidated impressively about the changes made, its impact and what more is in the horizon. Kudos to the organisers for a very well attended event at the prestigious Mumbai University Convocation Hall, with eminent dignitaries in the audience.

Dhruva Advisors LLP are happy to announce that Rahul Mitra has been awarded the "International Tax Contributing Author of the Year" (for transfer Pricing) at the prestigious Bloomberg Tax Awards held recently in London

The award was conferred for his contributions made over the last decade as the country reporter and member of the global editorial board of the magazine, "Transfer Pricing Forum", published by Bloomberg BNA; and also for a special article authored by him in 2018 on the topic of "Marketing Intangibles" in the international transfer pricing magazine published by Bloomberg Tax.

Click here to view the article

Direct Taxes - Getting ready for a makeover

Dhruva Advisors LLP hosted a seminar and panel discussion covering the "India Tax Landscape" and "M&A recent trends" at Ahmedabad.

Dinesh Kanabar, CEO and Partner Dhruva Advisors, along with other Partners, Vishal Gada and Mehul Bheda engaged in a conversation with Promoters, CFOs and Tax Heads on the Corporate Tax issues and challenges faced by the Indian industry.

Direct Taxes - Getting ready for a makeover

Dhruva Advisors LLP hosted a seminar and panel discussion covering the "India Tax Landscape" and "M&A recent trends" at the CONRAD Hotel, Pune.

Dinesh Kanabar, CEO Dhruva Advisors, along with his Partners, Vishal Gada, Sandeep Bhalla and K. Venkatachalam presented and engaged in a conversation with CFO’s on the Corporate Tax issues and challenges faced by the Indian industry.

Foreign Exchange Regulations related to Outbound Investments, External Commercial Borrowing (ECB) & Compounding of offences

Dhruva Advisors LLP arranged a breakfast session on "Foreign Exchange Regulations related to Outbound Investments, External Commercial Borrowing ('ECB') & Compounding of Offences" at Crowne Plaza, Ahmedabad, on Wednesday, 26th June 2019. The session was attended by executives from businesses across various sectors such as Pharmaceuticals, Power, Chemicals, Real Estate, FMCG, Textiles etc.

The session gave an opportunity to the executives to understand the key provisions, recent developments and compliance requirements of Foreign Exchange Regulations that need to be considered by every business while undertaking transactions pertaining to overseas investment and availing funds from overseas.

Mr. Vishal Gada, Partner at Dhruva Advisors LLP, provided meaningful insights about the recently introduced ECB Regulations and cautions to consider while availing ECB. Ms. Zeel Jambuwala, Principal at Dhruva Advisors LLP, shared her views and experience relating to overseas investment. She also discussed common contraventions under Foreign Exchange Regulations which ultimately lead to compounding of offences and provisions relating to this.

The session was well received by the participants and concluded with the exchange of thoughts amongst the attendees.