Business & Beyond

An in-depth analysis of the upcoming Interim Budget 2024 with Riaz Thingna, Partner, Tax, Grant Thornton Bharat. In this episode, we delve into the positive fiscal developments likely to be unveiled by the government, offering an expert take on implications for individuals, businesses, and MNCs.

For more insights on budget and to register for our webinar, visit - https://campaign.grantthornton.in/GTonBudget

Regardless of how progressive or woke an organisation is, employees always start from a position of disadvantage, negotiating their way to a better place—either individually or collectively, formally or informally.

That’s the norm we storm in this episode of our podcast.

Listen in as Narayan & Anisha get chatting with a talented duo Aditya & Gautam from the very aptly titled new age firm “TALENTED” and their attempt at creating a workplace model that’s trying its best to exceed employees’ expectations one HR policy at a time

We also have for this episode Ritika Mathur, Partner – Human Capital Consulting, Grant Thornton Bharat for the GT Insights section to throw some light on how can companies deploy ESOPs in the best way to foster not just stock ownership but company ownership in the true sense of the phrase.

“The start-up economy today is only about moving money, not value creation.” This is the provocative norm we posed to veteran Fund Managing Partner, VT Bharadwaj, partner, A 91 Ventures. We began the discussion with how venture capital firms basically mop up money from various sources – individuals and institutions, pension funds across the world, etc.—and later pool it up to fund start-ups and new ventures.
Basically, they move others’ money around and make more money by doing so. We pushed the argument further by saying that VCs are not “making” anything, in the traditional sense of manufacturing or creating. If anything, they’re manufacturers of belief: getting those with investible wealth to believe enough in ventures that don’t currently exist and to back them with their surplus money.

In this entire reductionist approach, where is the conversation around sustainable value creation? Listen in to what he has to say…

For GT Insights, we had Raja Lahiri - Partner, Growth and Transaction Advisory, to share his expert stance on the norm

In a world that’s all about the Web3 bubble, there’s no place for chewing gum bubbles.
Now, that’s a big and provocative norm to challenge about a category—and about large FMCG companies—that have built not just big customer bases for themselves but I daresay, also responsible for creating the kind of unparalleled mom-and-pop retail footprint in India that very few other categories can.
And I don’t say it lightly. The world of brands today seems to be about one or more of the following three things: purpose, planned purchase journeys, and pivots enabled by disruptive tech. Where’s the place for a frivolous, impulse-driven, unchanging product category in this world?
So how can an impulse category pivot to succeed in a D2C world, where the rules of commerce, culture and communications may be very different?

And today’s norm is not just an existential question but a practical one that our guest Mr Rajesh Ramakrishnan, has been tackling at the helm of Perfetti even before the pandemic, but also through it.

First time ever in India, a podcast from one of world’s best blockchain & token economic specialist from Israel, Mr. Jonathan Caras telling us how can an algorithm—a structured set of instructions encoded to enable repeatable tasks with the same consistent result every time—create or replace a phenomenon like trust?
Trust which is a function of 3 human dimensions.
Subjectivity is just one dimension of trust as we know it. One’s currently held beliefs play a large part in how one approaches an object of trust. A second dimension is the fragility of trust—it can be broken by something that may not necessarily be a disastrously bad mistake or error of judgment. A third dimension is that it takes time to build trust—it’s not something that can be generated instantly, not even overnight.
So how can technology replace all the above?
Listen in as Narayan & Anisha take this up with our global expert as he systematically storms this norm that has a far-bearing effect on businesses of the future.

#Blockchain #Crypto #Defi #Web3

Taking a leap to go beyond, we are excited to introduce Business and Beyond, our video series on topics that are hot, trending, and important to your business. In our second episode, Kalpana B, CEO and Chief Thinker dGTl, talks about how can businesses make their digital journey simple and leveraging human-to-human interaction in technology-driven environments. 

To know more about our digital transformation services, visit https://www.grantthornton.in/en/services/dgtl/ 

Reimagine your Digital Future with Grant Thornton dGTL. Explore with our experts, write to us at GTBharat@in.gt.com

The Covid-19 crisis exposed stark differences in the fortunes of different small and medium-sized businesses. Larger businesses did have an edge & were less hard-hit as a group. These were the ones who were able to take some knocks, bounce back, restart, adapt better than others.”.
But we also know that the world at large & we don’t just mean the world of business and economics is mostly made of the long tail—from the results of a Google search to stocks listed on any exchange beyond the big index-driving stocks to mom-and-pop retail that drive and support the consumer economy, we see that it’s the small entities that sustain the world. And if these weren’t resilient, then we would have sunk as an socio-industrial-economic complex a long time back—whether we consider the global or the local economy.

So where do we net out on this norm? Does size of operation insulate a business against shocks?

Listen in to our guest expert Siddharth Nigam & a complete Storm the Norm RESILIENCE TOOLKIT as a handy ready-reckoner.

Grant Thornton Bharat is proud to collaborate with Bill & Melinda Gates Foundation in shaping livelihoods andenhancing income generation opportunities. In this podcast, Padmanand V, Partner, Public Sector Consulting shares how our interventions, in collaboration with the government, are helping shape a Vibrant Bharat and the impact our Firm is creating in Hazaribagh.

Is it easier for startups than for established businesses to turn around? Just think about it..mature organisations have established not just a business, but a certain reputation, ways of working, people policies, they’ve figured out ways around the corridors of power as well as versus competition, the company is like a machine (whether well-oiled or not), bound by systems and processes. A startup turning around is like someone on a motorcycle doing a u-turn, while an established business is like a long train that has to go in a different direction all of a sudden. You can’t just switch tracks abruptly, especially if there are no tracks laid out in the new direction in the first place. You’ll just derail the whole thing.

But the real pivotal (pun unintended) question that we challenged Rohit Kapoor, CEO-Oyo with is much more fundamental; ‘Why do startups need turnarounds in the first place? And is it easier, as our thinking so far seems to indicate, for startups to turn around than it is for established businesses to do the same?

We also have perspectives from Siddhartha Nigam, National Managing Partner - Growth, Grant Thornton Bharat who has shared insights on how start-ups go about executing the turn-around

Listen in to what our guest experts had to say & lots more.

What’s new

- Announcement on two-pillar solution to address tax challenges arising due to digitalisation of the economy

- Bombay High Court reaches a split verdict on constitutional validity of provisions relating to intermediary services under GST

- Compliance check functionality introduced to ease compliance burden on tax deductors and collectors

About TaxPod

The Indian tax and regulatory space is changing at an unprecedented rate. We are witnessing policy announcements, legislative changes, judicial precedents and clarifications almost daily. This has made it challenging for corporate professionals to stay abreast of relevant developments. The aim of the TaxPod series is to keep you updated with key tax and regulatory developments of the past month, in around 5 minutes.

Creativity needs chaos. Structure constrains lateral thinking. And so, many professions have no option but to think inside the box. Or do they?

The “creative professions,” such as advertising, art, music, entertainment, writing believe they have the corner on creativity, relegating many professions to the doom and gloom of Boring. Is it their ego that perpetuates this condescension or is their disdain justified?

“Doomed to be deemed boring: Not every profession can be creative.

”That’s the norm our hosts Anisha and Narayan explore in this episode of #StormTheNorm. And IP Lawyer and strategist Safir Anand decided to light a grenade under this norm to explode it, not just storm it.

It’s one thing to identify a norm, and another to find practicable hacks to storm it. But you could do worse than apply this one, to begin with!

“Eat a live frog first thing in the morning and nothing worse will happen to you the rest of the day,” said Mark Twain.

Intrigued? Click play to find out how this can be not just palatable but will in fact help lay out a delectable course for creativity for the rest of the day.

For the GT Insights module, we have our expert Ashish Chhawchharia, Partner - Recovery and Re-organisation at GT Bharat, giving a focused take on how businesses can build creativity into their routine, regardless of what industry or function they are in.

Has it become an acceptable norm to prioritise valuation over value creation when running a start-up? If yes, why is this trend embraced like the holy grail? With this borderline trend fast becoming the norm, it’s the right time to find out what gives start-ups the confidence to not bother about profitability in their first few years and what makes their path different from that of the listed companies.

To answer these burning questions and share insights on the norm, we have for this episode, Vikas Agnihotri, India Operating Partner at Softbank Investment Advisers. And for Insight by Grant Thornton Bharat, we have on board Raja Lahiri, Technology, Media and Telecom Leader and Partner, Growth Advisory.

Our experts discuss ways to 'storm this norm', and bring back on table the significance of value creation. Tune into the podcast to get insightful perspective on the starts-up of today and their debatable disdain for profitability.

What's new

- Government extends due dates of various direct tax compliances

- Key updates from the 43rd and 44th GST Council meeting

- Ministry of Corporate Affairs issues clarification on offsetting of excess CSR spent

About TaxPod

The Indian tax and regulatory space is changing at an unprecedented rate. We are witnessing policy announcements, legislative changes, judicial precedents and clarifications almost daily. This has made it challenging for corporate professionals to stay abreast of relevant developments. The aim of the TaxPod series is to keep you updated with key tax and regulatory developments of the past month, in around 5 minutes.

What's new

- Government announces various direct and indirect tax relief measures due to second wave of COVID-19

- Provisions relating to Significant Economic Presence operationalised

- Ministry of Corporate Affairs issues clarification on Corporate Social Responsibility (CSR) expenditure

About TaxPod

The Indian tax and regulatory space is changing at an unprecedented rate. We are witnessing policy announcements, legislative changes, judicial precedents and clarifications almost daily. This has made it challenging for corporate professionals to stay abreast of relevant developments. The aim of the TaxPod series is to keep you updated with key tax and regulatory developments of the past month, in around 5 minutes.

As the world faces multiple crisis, there is an increasing need for corporates to come together and help the civil society. It is equally important to partner with leaders and ensure to bridge the gaps wherever necessary. Our norm this episode is set in this context: Can laws turn corporates into better partners for the society at large? Or will they turn CSR into Corporate Social Regulation rather than Corporate Social Responsibility? Find out as we storm this norm in Ep. 21

The Indian tax and regulatory space is changing at an unprecedented rate. We are witnessing policy announcements, legislative changes, judicial precedents and clarifications almost daily. This has made it challenging for corporate professionals to stay abreast of relevant developments. The aim of the TaxPod series is to keep you updated with key tax and regulatory developments of the past month, in around 5 minutes.

What’s new

· Government extends Foreign Trade Policy 2015-20 to 30 September 2021

· Finance Act 2021 enacted

· Group turnover threshold for applicability of country-by-country report eased

In the third episode of our knowledge series, Siddharth Talwar, an experienced Chartered Accountant, talks about the key financial reporting aspects that operating companies need to bear in mind while planning a ‘de-SPAC’ transaction. Siddharth advises companies on matters related to financial reporting under international GAAP, such as US-GAAP and IFRS.

To know more about overseas listings, visit https://www.grantthornton.in/en/service/growth/overseas-listing/

In our first episode, we discussed the concept of SPACs, the benefits and risks involved in it. Continuing the series, the second episode focuses on the tax and regulatory framework a company must adhere to while going down the SPAC route. Our Partner, Tax, Sridhar R. shares his insights.

Watch our webinar on Rise of SPACs - https://youtu.be/2VFnG4VAmdA

Market analysts are calling 2021, the year of SPACs. But first, we need to know what is a SPAC? Why should a company choose to go public through this route & what could be the risks involved? Hear from our expert on the subject - Raja Lahiri, Partner, Growth and Overseas listing leader.

Stay tuned for the next episode on SPACs and company structure. Don't forget to join the webinar - http://bit.ly/3vQyau7

The Indian tax and regulatory space is changing at an unprecedented rate. We are witnessing policy announcements, legislative changes, judicial precedents and clarifications almost daily. This has made it challenging for corporate professionals to stay abreast of relevant developments. The aim of the TaxPod series is to keep you updated with key tax and regulatory developments of the past month, in around 5 minutes.

What’s new

· Supreme Court ruling on taxation of software payments;

· Mandatory e-invoicing for B2B transactions for taxpayers having turnover of more than INR 50 crores from 1 April 2021;

· Central Board of Direct Taxes prescribes the procedure for seeking relief from double taxation for expats stranded in India.

This norm—that the future belongs to the fast—feels as old as time itself. Aesop articulated it with the fable of the hare and the tortoise. Pioneers throughout time became rulers by being the first to get somewhere, or to conquer new lands. In business, we’ve had the idea of the first-mover advantage for a long time. And in a frenzied, VC-fueled new economy, it definitely feels like you’re a loser if you’re not the first out of the blocks.

Undoubtedly, social, economic, political, cultural laws shape us. Isn’t that why fast does seem to be winning, and defining the future? Look all around us. That’s what we seem to celebrate. The fastest to become a billionaire, a unicorn to market etc etc.

The Annual Special episode, highlighted the juxtaposition of fast and slow, and how the pandemic made us involuntarily choose slow by putting life on pause. Narayan Devanathan & Anisha Motwani explore whether now’s a good time to examine if that was just a blip accentuated by the pandemic or a norm ripe to be stormed.

And to do that, we have perhaps the best spokesperson for Slow in the country today. Neelesh Misra is an award-winning journalist and entrepreneur. He’s famously popular and popularly famous for his radio stories on Yaadon ka Idiot Box. And his newest baby is the Slow Movement, an amalgamation of three verticals, Slow content, Slow food and Slow experiences.

Followed by  five practical hacks from Anisha Motwani on how to succeed fast with a slow pace.

For GT Insights, Pallavi Joshi Bakhru shares the key guidelines to build a framework for companies that are on their good to great journey and in believe in business with purpose.

The Indian tax and regulatory space is changing at an unprecedented rate. We are witnessing policy announcements, legislative changes, judicial precedents and clarifications almost daily. This has made it challenging for corporate professionals to stay abreast of relevant developments. The aim of the TaxPod series is to keep you updated with key tax and regulatory developments of the past month, in five minutes.

What’s new

- Finance Minister tables the Union Budget 2021

- Ministry of Corporate Affairs amends norms relating to ‘one-person company’

- Government proposes to replace GST audit with self-certification process

The Indian tax and regulatory space is changing at an unprecedented rate. We are witnessing policy announcements, legislative changes, judicial precedents and clarifications almost daily. This has made it challenging for corporate professionals to stay abreast of relevant developments. The aim of the TaxPod series is to keep you updated with key tax and regulatory developments of the past month, in five minutes.

What’s new

- Introduction of Faceless Penalty Scheme 2021

- Benefit of the Remission of duties and Taxes on Exported Products (RoDTEP) scheme extended to all export goods from 1 January 2021

- No further extension in due dates of return filing, states Central Board of Direct Taxes

In August 2020, this story about the Choluteca Bridge in Honduras went viral and made many a LinkedIn profile get their 15 seconds of fame. Funnily enough, the bridge was built in 1996, Hurricane Mitch forced the river to change course in 1998 to completely render the bridge useless from the point of its original purpose. But it took a year-long pandemic in 2020 for people to realize that we had all been building our own Bridges to Nowhere while the river of life dramatically changed course.  

Clearly, 2020 is our Hurricane Mitch. And 2021 is the year where we figure out what to do with the Bridge to Nowhere. 

Remember, Lewis Carroll’s iconic ‘Through the Looking Glass’. The cusp between 2020 and 2021 feels like we all need to step through a looking glass of our own, to see our world anew. 

With the advent of work / live / play at home era, the impossibility to plan in advance has erased the concept of chronos (as the ancient Greeks called it) or linear time. And because of that, we looked for our identity in the past. As many experts say, yearning—especially in moments of uncertainty—can be really grounding.  

And it is this fusion of past and future that gives us five hacks to norm the storms of 2020 as we step into 2021.

This norm may sound pretty obvious—and familiar, because it is an inescapable one these days, given the socio-political climate, not just in India but in many countries across the world. Recall the Donald Trump’s MAGA ideology that almost demanded a nationalistic fervor from business (the integrity of that ideology is another debate altogether), Brexit has asked Britons to view business from a non-EU lens first. Even in something as critical as a Covid-19 vaccine, the US wants to favor the one developed by an American company (Pfizer, in this case) while India has its predilections towards the ones where Bharat Biotech or The Serum Institute have a hand.

So, will local geo-politics influence businesses & will brands start being vocal about showing off their nationalistic credentials and make that a key strategic pillar in their playbook?

To answer this, we have an expert who has straddled the line between both local and global. Our guest expert today is Geetu Verma from Unilever, a global marketer and business leader, part of Unilever's global Foods and Refreshment team based out of Rotterdam, Netherlands.

We also have insights from Vikas Vasal, National Managing Partner - Tax at Grant Thornton Bharat on conducive government policies that give impetus to nationalistic brands.

The Indian tax and regulatory space is changing at an unprecedented rate. We are witnessing policy announcements, legislative changes, judicial precedents and clarifications almost daily. This has made it challenging for corporate professionals to stay abreast of relevant developments. The aim of the TaxPod series is to keep you updated with key tax and regulatory developments of the past month, in five minutes.

What’s new

- Government announces ‘Atmanirbhar Bharat Rozgar Yojana’ to incentivise employment generation in the Covid recovery phase.

- Relief to real estate sector announced in the third tranche of Atmanirbhar Bharat package.

- Government releases second set of frequently asked questions (FAQ) under the Vivad se Vishwas Scheme

What are the rules of winning for challenger brands? But first, what makes a challenger brand? What differentiates them from market followers & qualifies them as challengers?

Let's take a cricket analogy here. The 1983 men’s Indian cricket team was an underdog that came from nowhere to dethrone an invincible West Indies. But there is another more apt team when it comes to satisfying multiple conditions of being a true challenger. The Sri Lankan team of the 1996 cricket world cup. They were a decided underdog, much smaller as a cricketing nation, in the midst of the worst days of the civil war and they definitely did not stay in the same place at the end of the tournament.

What is amply clear is that it’s high time the ‘challenger brand’ norm was stormed.

We do have an expert who brings his lived insights and experience with him — on what it takes to be a challenger brand and not end up in the same place. Listen to Mr. Vishesh C. Chandiok, CEO of Grant Thornton Bharat to shed light on this & more. Don’t miss the #StN Innovation #Hacks to help you change your game

The Indian tax and regulatory space is changing at an unprecedented rate. We are witnessing policy announcements, legislative changes, judicial precedents and clarifications almost daily. This has made it challenging for corporate professionals to stay abreast of relevant developments. The aim of the TaxPod series is to keep you updated with key tax and regulatory developments of the past month, in five minutes.

What’s new

- Government announces special cash package for central government employees

- Due date for filing income tax return for the financial year 2019-20 extended

- Division bench of Madras High Court refuses transitional credit of Education Cess, Secondary and Higher Education Cess and Krishi Kalyan Cess

The Indian tax and regulatory space is changing at an unprecedented rate. We are witnessing policy announcements, legislative changes, judicial precedents and clarifications almost daily. This has made it challenging for corporate professionals to stay abreast of relevant developments. The aim of the TaxPod series is to keep you updated with key tax and regulatory developments of the past month, in five minutes.

What's new

• Government notifies the Taxation and Other Laws (Relaxation and Amendment of Certain Provisions)
  Act, 2020
• Due date for furnishing of belated and revised returns for Assessment Year 2019-20 extended
• One-time relaxation from implementation of e-invoice
  for October