Thangavel.....

After several red flags in the way the GSTN functions, finally the Officials from the finance ministry have indicated that indeed these issues are being reviewed at the highest level. As a Chartered Accountant with my experience from Fortune 500 company wherein the end users were all highly qualified people, the systems need to be simple. In case of GSTN, the system was pretty simple in paper. However when we got to use it, the complications came out. The system is highly illogical or rather not tweaked to match the practical requirements of the stakeholders. Be it the registration or the backend access to the tax department officials. Changes that would make the system workable. 1. No Matching of Invoices. Currently the buyer and the seller has to match the sales and purchases. Though a very simple process it is highly resource consuming. Just imagine a single paise difference in invoice will lead to manually matching the invoice with at least 2-3 minutes of time being sp

Some interesting article on JP Morgan...... JP MORGAN: INDIA FOCUS (M)organ failure? JP should follow the beaten path... Investments across the world might not seem an attractive proposition in the current times, but where India is concerned, it is still a hot destination for JP Morgan (JP). According to newly appointed India CEO, Kalpana Morparia, JP will invest $1 billion in Asia-Pacific region over the next three years, with the investments in India totalling a whopping $500 million. Kavita Sonawala, Head – Marketing, JP Morgan tells B&E that, “Our strategy for India can be defined by the word ‘aggressive’. We want to tap its full potential...” For now, JP’s strategy is to focus on the Real Estate and Infrastructure sectors, besides Investment Banking. To achieve that end, JP Morgan Asset fund has mobilised more than $360 million from Institutional Investors and High Net worth Individuals (HNIs) in US, Asia, Europe and the Middle-East. It has also set up a $2 billion infrastruct