Wednesday, January 8, 2020

GST for Media Industry-Ecovis launches knowledge series in contemporary financial matters

Mumbai: Ecovis is a leading global consulting firm with its origins in Continental Europe, head quartered at Berlin. It’s consulting focus and core competencies lie in the areas of tax consultation, accounting, corporate finance auditing and legal advice.
Ecovis India started its journey in the year 2007, in 2011 they invited partners across the 60 countries and were the first one amongst global top 20 Consulting network with the clear focus to expand its foot print xin India beyond mega cities, leveraging its strength of combining personal advice at a local level to provide services to Indian mid-sized corporates and, focus on investments coming from Japan and Germany to India. Ecovis India has its presence in 12 cities and is working with over 100 associates and 15 top advisors from Legal and Financial domain. Ecovis has established itself as an execution-enabling consultancy firm. Ecovis India had its 6th India Partners meet on 8th January 2020; the meet was attended by Mr. Kay Friedrich Thomsen, Global President Ecovis.
During the meet Ecovis announced its initiative of incorporating its Technical/IT enabling tool to provide more holistic services to its client. Given the focus globally on AI in field of accounting and financial MIS, Ecovis India has unveiled its automated reconciliation and auditing tools for the biggest Indirect tax reform ever happened in India, which is GST.
Harnessing the power of AI the ecosystem will now be addressing the most rampant issue of GST in terms of amendments and assisting clients in efficient governance. Furthermore, Ecovis India plans to have a Knowledge series on GST written by various partners and experts. The series will cover implications of GST on different industry.  The first in the series titled “GST: Implication for Media and entertainment Industry” written by Hemant Vatsani, who is partner with R Kabra & Co Chartered Accountants was released today. Commenting on the occasion, Kay Friedrich Thomsen, President of Ecovis said, “I am very delighted to be a part of this journey Ecovis India has undertaken of providing tech led advisory support to its clients. Indian partners have always been proactive in bringing solutions aligned to market need and also very efficiently leveraging Ecovis partners’ network to provide its client a very reliable and capable professional friend in 70 countries of the world.
Explaining the driving factor of the initiative Dheeraj Rathi – Managing Director, Ecovis RKCA said, “India is going through an unprecedented times with multiple changes at policy and procedural level, with new tax laws, company's act, global economic vulnerability and slow down. India is in the cross roads of either being a powerful economy or balancing factor in the world or will succumb to challenges of inadequate infrastructure, judicial capacity and low manufacturing efficiency. Historically, global economy has grown in the back bone of governance and predictable systems and therefore, the collective aspiration of Ecovis leadership is to provide a solution which is indigenous yet of Global benchmark to its client.”

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