Dhruva Advisors LLP

Celebrating a Decade of Excellence! We are excited to share insights from Sagar Joshi, who has been an integral part of Dhruva Advisors LLP since June 2015. As a Principal in our Mumbai office, Sagar has over 13 years of experience, advising both Indian and multinational clients on complex tax and regulatory matters. His journey with Dhruva has been marked by unique and challenging assignments, including advisory on intricate issues and representation before income tax and regulatory authorities. Watch as Sagar reflects on his career, Dhruva's growth, and the invaluable experiences that have defined his role at our firm. Dinesh Kanabar | Abhishek Mundada | Aditya Hans | Ashish Agrawal | Deepesh Chheda | Dilpreet Singh Obhan | Kapil Bhatnagar | Kulraj Ashpnani | Mehul Bheda | Nimish Goel | Niraj Bagri | Punit Shah | Rakesh Jain | Ranjeet Mahtani | Sandeep Bhalla | Sudhir Nayak | Umesh Gala | Vaibhav Gupta | Vlad Skibunov | Amit Aggarwal | asmita dsouza | Geet Shah | Hany Elnaggar, CA, M.Sc هاني النجار | Maharshi Mehta | Manjit Bhimajiani | Nitin Bohra | Rahul Mehta | Samudra Acharyya | Sandeep Kumar | Ujjwal Kumar Pawra | Vaibhav Jajoo | Vishal Lohia | Zeel Gala | Vikram Bapat | Dimple Chainani | Pranshu Roy | Sagar Joshi #DhruvaTurns10 #MilestoneMoments #DhruvaExcellence #Collaboration #CommitmentToExcellence #DecadeOfSuccess #StrategicAlliances #LongTermPartnership #AnniversarySeries

The decision in the case of Safari Retreats has raised several questions than the answers it set out to provide. Here are some of my takeaways: - To be eligible to claim ITC, the building should satisfy the functional test. There are no guiding principles except reference to few rulings given under the Income Tax Act. Whether those decisions can come to the rescue given the fact that the Income Tax Act contains a definition of ‘plant’ which is absent in GST laws? - Whilst clear distinction is made between 17(5)(c) and 17(5)(d) to come to a conclusion that a building can be covered under the exception of 17(5)(d) and be eligible to ITC. However this benefit will not be available to a building for use as ‘own account’. But there is no reference to another exclusion which states that something which is used in the course or furtherance of business is also not eligible for ITC. It may still leave the door ajar for the authorities to question the eligibility - ITC of works contract service is not available except if it used for plant and machinery and works contract services. What would be the implication if the same is used for provision of construction services or letting out? Whether 17(5)(d) can come to aid in any manner? This judgment is being closely scrutinized by all stakeholders viz the assessee, department and the consultants and is being debated with varied interpretations.. Reminds me of the story of the elephant and the blind men! Your comments / views are welcome.

Dhruva Advisors LLP #GST #Alert The Central #Government, through several notifications, has implemented the rate changes proposed in the #54th GST Council meeting. Besides the rate changes, Notifications also have been issued to prescribe the procedure for rectification of order issued for violation of Section 16(4) of the CGST Act and giving effect to #CGST (Second Amendment) Rules, 2024.   The attached alert captures the key changes. We hope you find it to be an interesting read.   Should you have any questions, please feel free to connect.   Regards, Team Dhruva Niraj Bagri | Ranjeet Mahtani | Kulraj Ashpnani | Kiran Tahelani

Celebrating a Decade of Excellence! Hear directly from Drishti Kankariya about her 9-year journey in tax and regulatory advising, specializing in M&A and succession planning. As a Principal at Dhruva Advisors LLP, she has successfully guided corporations through complex deals, cross-border transactions, and group restructurings. Drishti has also provided expert trust and succession planning advice to high-net-worth individuals. Dinesh Kanabar | Abhishek Mundada | Aditya Hans | Ashish Agrawal | Deepesh Chheda | Dilpreet Singh Obhan | Kapil Bhatnagar | Kulraj Ashpnani | Mehul Bheda | Nimish Goel | Niraj Bagri | Punit Shah | Rakesh Jain | Ranjeet Mahtani | Sandeep Bhalla | Sudhir Nayak | Umesh Gala | Vaibhav Gupta | Vlad Skibunov | Amit Aggarwal | asmita dsouza | Geet Shah | Hany Elnaggar, CA, M.Sc هاني النجار | Maharshi Mehta | Manjit Bhimajiani | Nitin Bohra | Rahul Mehta | Samudra Acharyya | Sandeep Kumar | Ujjwal Kumar Pawra | Vaibhav Jajoo | Vishal Lohia | Zeel Gala | Vikram Bapat | Dimple Chainani | Pranshu Roy | Drishti Kankariya #DhruvaTurns10 #MilestoneMoments #DhruvaExcellence #Collaboration #CommitmentToExcellence #DecadeOfSuccess #StrategicAlliances #LongTermPartnership #AnniversarySeries

The foundation is grateful to supporters of its annual 2024 conference. On behalf of the trustees, I am pleased to welcome Dhruva Advisors LLP. Thank you: Dinesh Kanabar Dimple Chainani

Dhruva Advisors LLP - Sandeep Bhalla, Partner #quote on CNBC-TV18 Link - https://lnkd.in/dAQuGG8b

Dhruva Advisors LLP #monthlynewsletter #pillar2 #publication Presenting our fifteenth edition of the monthly bulletin on the #pillartwo #GloBE Rules. The GloBE Rules landscape witnessed significant legislative advancement with #Bahrain legislating the Rules from 2025 while #Singapore, #Brazil, #Poland, and #Portugal introduced draft legislations. The knowledge bytes section analyses how incentives offered by countries could be impacted under the GloBE regime. Dinesh Kanabar | Abhishek Mundada | Aditya Hans | Ashish Agrawal | Deepesh Chheda | Kulraj Ashpnani | Ranjeet Mahtani | Mehul Bheda | Niraj Bagri | Nimish Goel | Punit Shah | Sudhir Nayak | Sandeep Bhalla | Umesh Gala | Vaibhav Gupta | Venkatachalam K | Radhakishan Rawal | Vikram Bapat | Dimple Chainani | Ashish Jain | Nilesh Chandak

Dhruva Advisors LLP - Ranjeet Mahtani, Partner #quote on SMEStreet Link - https://lnkd.in/dG8VqNbD

Dhruva Advisors LLP #Litigationalert The #Supreme Court in the case of Chief Commissioner of CGST & Ors. v. M/s #Safari Retreats Private Ltd. & Ors. Civil Appeal No. 2984 of 2023 dated October 3, 2024 upheld the constitutional validity of Section 17(5)(c) and (d) of Central Goods and Services Tax Act, 2017. It also clarified that "Plant or Machinery" in Section 17(5)(d) cannot be equated with "Plant and Machinery" as defined in the Section 17. Finally, emphasizing the importance of the functionality test it remanded the underlying matter to the High Court, to determine whether the shopping mall in the present case, can be considered as “Plant”, and to thereby allow Input Tax Credit . Our #alert summarising the #Apex Court ruling is attached here. We hope you find it an interesting read. Should you have any questions, please feel free to connect. Regards, Team #Dhruva Niraj Bagri | Ranjeet Mahtani | Kulraj Ashpnani | Kiran Tahelani | Vaibhav Jajoo | Ruturaj Bhide

Discover why Dhruva Advisors LLP employees thrive. Hear from Bhavin, a seasoned Chartered Accountant, about his 7-year journey. His expertise in direct tax, M&A, restructuring, and corporate conversions has been invaluable. Bhavin's success in tax holiday undertakings and litigation, coupled with his knowledge of partnership taxation and reassessments, makes him a trusted advisor. Focusing on real estate and pharmaceuticals, he brings industry-specific insights to Dhruva Advisors LLP. Join us in celebrating Bhavin's contributions and our positive work environment. Dinesh Kanabar | Abhishek Mundada | Aditya Hans | Ashish Agrawal | Deepesh Chheda | Dilpreet Singh Obhan | Kapil Bhatnagar | Kulraj Ashpnani | Mehul Bheda | Nimish Goel | Niraj Bagri | Punit Shah | Rakesh Jain | Ranjeet Mahtani | Sandeep Bhalla | Sudhir Nayak | Umesh Gala | Vaibhav Gupta | Vlad Skibunov | Amit Aggarwal | asmita dsouza | Geet Shah | Hany Elnaggar, CA, M.Sc هاني النجار | Maharshi Mehta | Manjit Bhimajiani | Nitin Bohra | Rahul Mehta | Samudra Acharyya | Sandeep Kumar | Ujjwal Kumar Pawra | Vaibhav Jajoo | Vishal Lohia | Zeel Gala | Vikram Bapat | Dimple Chainani | Pranshu Roy | Bhavin J M Dedhia #DhruvaTurns10 #MilestoneMoments #DhruvaExcellence #Collaboration #CommitmentToExcellence #DecadeOfSuccess #StrategicAlliances #LongTermPartnership #AnniversarySeries