Manas Chugh

The solar industry received a significant legal reprieve after the Delhi High Court quashed Instruction No.13/2022-Customs issued on July 09, 2022 The court ruled that Solar Industry can import CG under MOOWR for production of electricity for domestic consumption. #MOOWR #CBIC

@deepakshenoy But it is surprising that how GDP deflator is only 0.2%

Not that exciting a number, to be honest, other than the quarterly real number. I don't believe the low inflation estimate (which is the GDP deflator) so it's probably that they have the real number too high. (You collect nominal, you will estimate real)

GDP Growth is 7.8% for June 2023. This sounds awesome, but it is not great because NOMINAL growth is only 8%, meaning they expect the impact of inflation to be ludicrously low 0.2%.

Featured in The Economic Times regarding the Kisan Vikas Patra Scheme of the Government and its implication on the calculation of personal Income Tax. Link: economictimes.indiatimes.com/wealth/tax/kis… #IncomeTaxReturn #IncomeTax #IncomeTaxUpdates

One of my client is looking to build a data science team for ML usecase. It will be for a duration of around 3-4 months. They need 1 senior machine learning engineer, 2 machine learning engineers and a platform engineer for the same. #jobs #machinelearning #DataScientists

As we celebrate the 75th anniversary of this esteemed profession today, I am reminded of how the CA course has not only shaped my own life but also the lives of many others. It serves as a testament to the transformative power and influence of this profession in economy. #CADay

This profession has been instrumental in enhancing my critical thinking skills and business acumen, thanks to its well-structured curriculum and pragmatic articleship. #ICAIat75 #CharteredAccountants

Looking back to the year 2012, I made a significant decision to switch from science to commerce and pursue a career in CA The driving force behind this switch was my desire to make an impact in the field of economy & finance, a decision that fills me with pride today #ICAI #CADay

@ajayrotti Question 2 provides that TCS threshold of Rs 7 Lakhs is a combined threshold. So if remittance is made of total 14 lakhs including 7 lakhs for other purpose and 7 lakhs for overseas package. What will be the TCS rate on overseas package? 5% or 20%?

Another important aspect.... the limit of Rs 7 lakhs applies separately for both the clauses. 4/N

The CBDT issues Circular no 10 of 2023 "to remove difficulty in implementation of changes relating to Tax Collection at Source (TCS) on Liberalised Remittance Scheme (LRS) and on purchase of overseas tour program package !New 30 June 2023" Link in the thread 1/N

One such condition prescribed for the registration is that NOC from majority of the directors has to be submitted. This is an absurd request as the directors of listed companies having independent directors too or big corporates have to reach to majority just for a registration.

It is surprising that getting ICEGATE registration has become a big hassle. Where the industry is demanding EoDB, companies are getting absurd rejections. Inspite of having same email id on dgft and icegate, rejection is received. Urgent intervention rqd @cbic_india #ICEGATE

My views on the impact of the inclusion of spending through International Credit Card while a person is on a visit outside India under the Liberalized Remittance Scheme (LRS). #TCS20 #LRS #FinMinIndia

The intent of the Government to capture these transactions was clear from the Budget when the FM announced TCS @ 20% on all the LRS transactions without any threshold limit. With this amendment, ICC will also come under the purview of LRS and TCS.

The Govt has amended the FEM (Current Account Transaction) Rules, now use of International Credit Card while outside India shall fall under the Current Account Transaction and thereby under the Liberalised Remittance Scheme (LRS) too. #tcs20

Join our panellist @Manaschugh , a CA & research fellow in Twitter spaces with Gopal Krishna Agarwal on 20th April, 9:00pm. Link: twitter.com/i/spaces/1OyKA… He will shed light on the challenges faced by home buyers in today's market. @BJP4India @BJP4UP @upwestbjp @BJP4NoidaMN

Homebuyers issue has been polled to be the major concern for people residing in #Gautam_Buddha_Nagar area in response to our tweet on 17th March 2023. We have decided to come out with a white papers on the subject. Our team of experts is already working on the issue involved with respect to stakeholders (#Homebuyers), regulators, case laws and state & central govt Acts to bring out a solution to the problem. An open house discussion has been scheduled with expert, stakeholders on 20th April, 2023 at 9 pm on Twitter Spaces: x.com/i/spaces/1oyka… @JPNadda @blsanthosh @BJP4UP @upwestbjp @idharampalsingh @Bhupendraupbjp @MoHUA_India

Perfectly articulated on the strategy the Government should follow on negotiating trade agreements. All stakeholders should be considered as partners in the reform process which will lead to an inclusive growth in our trade and growth of MSMEs. @gopalkagarwal

India’s diaspora is the largest community with more than 32 million OCI & more than 13 million NRI. With the objective to simplify the provisions concerning Tax & FEMA, we will be publishing articles regularly to understand the nitty gritty Link: osganconsultants.com/determination-… #NRI

In a developing country like India where Social Security cannot be provided to majority by the Govt because of the budget constraint, personal invt in the social security schemes are the only options available. But the New Scheme is defeating this purpose #UnionBudget2023

Now all the individuals will start declaring their income from 5L to 7L. #Budget2023 #IncomeTax

The leading man who took Amul from Rs 9,775 Crore revenue in 2010-11 to Rs 61,000 Crore in 2021-22, @Rssamul, steps down from GCMMF The person impacted 3.6 million farmers which speaks volume about his work Glad to interact with the veteran during the Pre Budget Consultation.