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Rakesh. Dube
Entrepreneur and Mentor
Rakesh Dube is the Founder and Managing Director of TaxGenie.in, a fintech company focused on providing solutions for Goods and Services Tax (GST) compliance in India. He established the company in May 2017, coinciding with the national launch of GST in India. TaxGenie aims to simplify tax compliance through innovative technology, including artificial intelligence and machine learning, and has successfully assisted over 150 corporates and more than 10,000 suppliers across the country.1
Before founding TaxGenie, Dube spent over 25 years in developed economies, working with Fortune 500 and FTSE companies. His career included significant experience in business consulting, where he focused on automation and digital technology solutions. This background provided him with insights into the challenges faced by businesses, particularly in compliance and data management during the GST transition.23
Dube's vision for TaxGenie includes evolving towards a network-based model for GST compliance, where real-time data exchange between suppliers and buyers is facilitated. He anticipates that the market for such services will grow significantly, aiming for TaxGenie to capture a notable share of this expanding sector by 2025.1
Highlights
Yet another news after Infosys: DGGI issues showcause notices to 10 foreign airlines, including British Airways, Lufthansa, and Emirates, for ₹10,000 crore in unpaid GST dues on services imported by Indian branches from their HQs, covering July 2017 to March 2024. ✈️💼
This follows a probe initiated in August 2023, highlighting the complexities of GST compliance for airlines dealing in both taxable and exempt services. Recent circulars fall short of addressing these unique challenges.
💡 Tax Technology Insight: In an era where the government has granular data, it's crucial for corporates to at least know what the government knows. Advanced tax technology can streamline compliance, ensuring accurate classification of services and timely tax payments, mitigating risks of such disputes.
#GST #TaxCompliance #AviationIndustry #TaxTech #DGGI #RegulatoryUpdates #taxgenie #payinvoice #veefin
Rahul RENAVIKAR Afzal Modak Sumit Mittal Raja Debnath
In a twist that could only be scripted in a tech comedy, Infosys, the brains behind India's GST system, has been slapped with a $4 billion tax demand by Indian authorities! 🤯
🔍 Key Points:
- The demand claims tax evasion related to expenses from overseas branches.
- Infosys, fully confident in their compliance, is ready to contest this.
- This could open a can of worms for other IT giants in India.
It's like the ultimate "plot twist" where the coder becomes the coded! 😅
Stay tuned for the next episode of "Who Gets the Tax Notice Next?"
📖 Read more:
https://lnkd.in/dkFDRqdR
#TaxDrama #Infosys #GST #taxgenie #payinvoice
