Page 4 - Kpmg

Transport services to civic bodies not exempt from GST in each & every case

Companies supplying vehicles to local bodies must prove that the underlying activities are exempt services, such as public health, in order to avoid paying tax, ruled Gujarat-based AAR

Electric vehicles on Indian roads to touch 50 mn-mark by 2030: KPMG

The total number of electric vehicles on Indian roads is likely to touch 5 crore by 2030, presenting an enormous opportunity for players in the charging ecosystem, according to a report by consultancy firm KPMG. A large increase in electric vehicles (EV) sales is anticipated in India due to favourable factors on demand, supply and regulatory front despite a low penetration level of about 1 per cent currently, KPMG said in its report -- Electric vehicle charging the next big opportunity. According to the report, India's electric mobility story is rapidly evolving, with EVs gradually entering the mainstream, resulting in a three-fold rise in EV sales over the last fiscal year. The growth is currently being led by two-wheeler (2W), three-wheeler (3W), and bus segments. "As of March 2022, the number of EVs on Indian roads had surpassed one million. This number is likely to grow to 45-50 million EVs on road by 2030," it said. This presents an enormous opportunity for players in the EV

Indian companies changing rules to call employees back to office

Apart from Indian companies, Apple Inc has asked its employees to attend office three times a week. Employees have been asked to attend office on Tuesdays, Thursdays and a day depending upon the team

To improve surveillance, airlines asked to share PNR details with Customs

National Customs Targeting Centre-Passenger has been established by CBIC to process PNR info for risk analysis of passengers

Govt issues corrigendum to withdraw excise on ATF for international flights

Indian Oil had begun levying 11% duty following a govt notification; ATF accounts for 40% of an airline's operating expenses

Alipore Court restrains KPMG, banks from acting on SREI audit report

The order was passed on May 20, based on a petition by SREI promoter Hemant Kanoria. Next hearing on May 30

Final KPMG forensic audit report on SREI had gaps: Hemant Kanoria in NCLT

In an application moved on Jan 19, he sought setting aside appointment of KPMG by Axis Bank and UCO Bank (lead banks in consortium of lenders) as auditor for SREI

KPMG audit report on Srei filed in time, say lenders in NCLT

Time period starts from red-flagging of the account, they argue

Hemant Kanoria moves NCLT for setting aside KPMG audit at SREI

Jan 19 application filed by Kanoria cited an issue of parallel auditing in the wake of CIRP (corporate insolvency resolution process) in SREI

Most people feel I-T exemption limit could be raised from Rs 2.5 lakh: KPMG

As many as 64% of the respondents said they expect the basic I-T exemption limit to be raised from Rs 2.5 lakh a year, according to a pre-budget survey by KPMG in India

Big four professional services firms see big growth post Covid-19

Tech adoption by businesses, rise of unicorns, M&A activity drive gains

Yezdi Nagporewalla appointed KPMG India CEO; to take charge from Feb 2022

The company, which in a departure from the past, has split the roles of chairman and CEO with this appointment, said it will announce the chairman in the next few months

Indian companies to raise Rs 75,000 cr via IPOs in next 6 months, says KPMG

A lot of money printed during the Trump administration is invariably finding its way to the stock markets globally and India is one of the beneficiaries, says a KPMG executive

KPMG to assist government in strategic divestment of IDBI Bank for Rs 1

The near-zero bid could make KPMG one of the largest players in managing deals in the financial services space if IDBI Bank sale is a success

Explained: How RBI's tough new rules impact the audit companies

The central bank's tough new rules spell major changes in the competitive landscape for financial services audits

Srei Equipment Finance appoints KPMG, DMKH & Co for forensic audit

The company has been in discussions with lenders for debt realignment. But lenders are unlikely to approve it without a forensic audit

Four years after Modi push, no Indian firm in top league of auditors

Some prime slots are at best held by Indian arms of foreign firms with roots in Europe; govt itself favours the big four for mega advisory roles like disinvestment or asset monetisation

India sees second-best year for fintech funding despite Covid-19: KPMG

India attracted 2.7 billion dollars in investment last year, the second highest amount ever, KPMG asid

Raise revenues from improved tech-driven enforcement: KPMG to govt

To help resolve tax disputes, a majority of respondents feel that a mediation scheme should be introduced in the Budget to help in negotiating settlements.

Govt should eye better collections than higher taxes for funds: KPMG Survey

A fund-starved government will be better off looking at increased collections fuelled by an economic recovery, the survey said