MUMBAI: The covid-19 pandemic has created an unprecedented disruption to the world economy and public at large. Moody's has revised India's GDP forecast for calendar 2020 to 2.5% from 5.3%.
Even as the government announced stimulus package, there are instances of companies being chased for pending tax demands as the exchequer is staring at a massive dip in tax collections.
Dinesh Kanabar founder and CEO of Dhruva Advisors, a tax and regulatory boutique firm, told Mint, while the government announced refunds to the tune of ₹18,000 crore on Wednesday, there are many more challenges for Indian companies and promoters on the taxation front.