Post Budget Analysis in association with ICBC & ASA Associates
3rd Mar 2016

World Trade Center Bangalore in association with the Indo-Canadian Chambers of Commerce (ICBC), Regional Council - Bangalore organized a post budget analysis on 3rd March, 2015. The knowledge partner for the event was ASA & Associates LLP, Chartered Accountants, to present an analysis of key proposals introduced in the Union Budget 2016. Mr. Sunil Arora and P. Nitish, both partners at ASA, along with Mr. Anil Sareen, Deputy General Manager -  Overseas Branch, State Bank of India was also one of panelists.
Their presentation touched upon key changes on direct and indirect taxes. Amongst other proposals, Mr. Arora emphasized on the significant tax incentives offered to start-ups, added tax liability on dividend earnings, additional compliance requirements on Transfer Pricing, and reduction in tax rates to 25% for specified corporate and the new equalization levy on foreign digital advertisers.
On indirect taxes, Mr. Nitish highlighted the increase in effective rate of service tax liability, levy of service tax on legal services, amongst others, and the proposed change in CENVAT credit rules. He also provided an overview of proposed GST legislation.
The evening witnessed attendance of over 40 senior professionals representing various Trade and Industry in and around Bangalore.