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Digital Transformation

Provisions of Insolvency and Bankruptcy Code override GST provisions

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The Insolvency and Bankruptcy Code 2016 (IBC) was introduced to promote the ease of doing business in India, to address the issue of liquidity in cases relating to insolvency/bankruptcy in India. It consolidates all existing insolvency-related laws like the Sick Industrial Companies, Special Provisions Act 1985, and many more. The IBC also specifies that it will override any other legislation in cases of conflict. The companies going through a resolution mechanism under the IBC, the revenue authorities are insisting on having a priority in the collection of past tax dues. In December 2019, the National Company Law Tribunal (NCLT), Chennai, in the case of T. R. Ravichandran – Resolution Professional (RP) for Kiran Global Chem Limited1. (Corporate Debtor), has directed the revenue auth...

GST authorities to accept GSTR-9 and 9C returns without late fees

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The Tax Bar Association approached the Rajasthan High Court [D.B. Civil Writ Petition No. 1805/2020] contending that the Forms GSTR-9 and 9C of various taxpayers, for Financial Year 2017-2018, could not be uploaded by the due date because of technical glitches on the Goods and Services Tax (GST) portal. The Tax Bar Association appraised the High Court regarding technical glitches in filing of Forms GSTR-9 and 9C with various data/screenshots and also the arbitrary fixation of last dates, through ‘tweet’ on Twitter, by the Central Board of Indirect Taxes and Customs (CBIC). The High Court after taking into consideration screenshots submitted by the Tax Bar Association regarding the unsuccessful attempts of the tax professionals, held as under: GST portal appears to be having technical bottl...

Healthcare Analytics

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Many of the systems nowadays are trying to attempt and implement data in hazardous ways which could lead to loss of data integrity. To fight these issues We have the Healthcare IT Analytics model which improvises the framework to evaluate the industry adoption towards analytics. It creates a roadmap for the organization to make its own quality progress. This can also help us with the evaluation of vendor products. If used properly Healthcare Analytics Solutions help with the patient’s health care. We refer to data analytics which directs us to practice taking masses of aggregated data to draw the important insights of the information. Since it is data reliant. It can help derive insights on systemic wastes of resources and can track out individual performance.   Healthcare Analytics h...

Why streamlined workflow and tax automation are critical in GST and E-way bill era

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Supply chains cannot be swift if there are disruptions caused by manual GST compliance. The introduction of the Goods and Services Tax (GST) has been an important step in the field of indirect tax reforms in India — and one that has affected all sectors of the Indian economy. For companies dealing in goods, the stakes are high when it comes to managing the GST compliance process. Supply chains, warehouses, logistics, retail, even transportation companies and distributors can have a considerable impact on whether GST returns are filed accurately and in a timely manner. A disruption in one link can potentially buckle the entire value chain of supply. Pre-GST, supply chains, coupled with the warehousing and logistics industries, were often highly unorganized and fragmented, primarily due to i...

NASSCOM Fintech Policy Roundtable on MDR and Digital Payment Adoption | 17th January in Mumbai

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Dear Members, Over the last few days, major developments have taken place pertaining to the zero MDR announcement, such as: Businesses with turnover of more than ₹ 50 crore have to mandatorily provide facilities for accepting payments through electronic modes, such as, RuPay debit cards, UPI and UPI QR codes. Section 10A of the Payment, and Settlement Systems Act 2007 when read in conjunction with Section 269SU of the Income-tax Act, 1961, alludes that no bank or system provider shall impose any charge on a payer making payment, or a beneficiary receiving payment, through RuPay debit cards, UPI and UPI QR codes. The MDR reimbursement schemes by MeitY stands closed. We are organizing a roundtable to understand the impact of these policy changes on different stakeholders. Based on the discus...

SDN – CHANGING THE FACE OF CAMPUS NETWORKS

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Software Defined Networking is a seismic technology for network design approach beyond just a technology protocol. SDN can centralize the control of the whole networks used in significant IT industries such as Datacenters, Cloud Computing, Mobile Networks, Campus/Enterprise networks. The impact of cloud computing, together with the revolutionary changes and tremendous business value realized through SDN, has resulted in the fast-paced adoption of the technology. Why is there a great demand for SDN? Let’s think about traditional IT portfolio where everything needs a manual administration. We have routers, switches and lots of stuff around, all physical hardware connected in a certain way for data flow based on needs. The two salient facts of networks are delivering data and managing the flo...

Indian Fintech Startup Funding

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  Digital Lending Startup ZestMoney Raises $13.4 Mn From Xiaomi, Others Existing investors PayU, Ribbit Capital and Omidyar Network also participated in the round The company plans to strengthen its technology and data science capabilities ZestMoney will also work to expand use cases for the core ZestMoney Affordability Product  

Re: What will it take to transform our Indian Judiciary system?

AI/ML can help a lot in solving many things. i.e, CDR (call detail records) with geo-location network analysis can help to figure-out outliers, suspect locations for criminal cases. CDR might have millions of records but figuring out correct suspects is the challenge for existing products available in the market. Not sure, how CBI and investigation departments are doing it right now but CDR is the key role player in today’s world.

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