Other Briefings
India Regulatory Brief: Opening a Bank Account to Become Easier, Modi May Allow Foreign Universities
This week, we examine new rules for opening a bank account, Modi’s interest in allowing foreign universities to setup and a labor reform plan.
India Regulatory Brief: NGO Regulations May Tighten, Reform for Life Sciences Promised
This week, we examine a reported plan to tighten NGO regulations, a reform for Life Sciences and the impact of the Maggi recall.
India Regulatory Brief: Tax Collection to Widen in Tier-II Cities, Company Registrations on Decline
The Income Tax Department plans to expand its tax collection activities in Tier II cities, such as Jaipur in Rajasthan state, Indore in Madhya Pradesh state and Vishakhapatnam in Andhra Pradesh state. The initiative follows a directive from the federal government to increase the number of taxpayers in the country by 2.5 million individuals and entities every month.
India Regulatory Brief: New Service Tax Effective June 1, FDI Rules Relaxed for NRIs
New Service Tax Rate Effective June 1 The Central Board of Direct Taxes (CBDT) confirmed that the new 14 percent service tax rate will take effect on June 1, replacing the current 12.36 percent rate. Although the new service tax rate was recently passed in the in the Finance Act, 2015, the CBDT had not […]
India Regulatory Brief: FDI Reform for B2C E-commerce Unlikely, New VNO License Proposed
FDI Cap for B2C E-commerce to Remain Last week, Commerce Minister Nirmala Sitharaman met with public and private sector representatives to discuss foreign direct investment (FDI) for e-commerce in India. Local observers in the media speculated that the discussion might lead the government to raise, or even lift, the FDI cap on business-to-consumer (B2C) e-commerce. […]
India Regulatory Brief: 9,000 NGO Licenses Revoked, Maharashtra to Make Starting a Business Easier
Government Crackdown on Foreign Funded NGOs The Ministry of Home Affairs (MHA) recently revoked the licenses of nearly 9,000 non-governmental organizations (NGOs). The MHA revoked the licenses for non-compliance with Section 18 of the Foreign Contributions Regulation Act (FCRA), which stipulates that NGOs must declare financial contributions from abroad to the central government.
India Regulatory Brief: Positive Defense Reform, Hiccups for Web-Based Taxis and Medical Devices
Validity of Defense Industrial License Increased The government extended the validity of industrial licenses for the defense industry from three to seven years. Further, defense companies can now extend the license for three additional years after the initial period. Industrial licenses are currently required to make items such as armored fighting vehicles, defense aircraft, warships, […]
India Regulatory Brief: Legacy Tax Issues Set for Committee, EPF Amendment Likely
In this week’s Regulatory Brief, we examine government plans to review legacy tax cases, amend the Employees’ Provident Funds, and reform child labor laws.
