Other Briefings
DIPP: Allow JVs with Small Foreign Stakes to Enter Restricted Sectors
Sept. 23 – The Department of Industrial Policy and Promotion is voicing its opposition to a new proposal that would forbid companies with small levels of foreign funding to be allowed to enter restricted sectors. The agency is urging the finance ministry to reconsider the proposed policy that would keep out companies with even the […]
Central Sales Tax to Remain Under New Tax Regime
Sept. 22 – Central government authorities have given their partial approval to the local government proposal that they be allowed to continue to charge Central Sales Tax (CST) on goods even under the new Goods and Services Tax (GST). If implemented, states will be able to levy and keep CST on goods outside the GST […]
New SEZ Applications to Begin Oct. 21
Sept. 21 – Authorities will be accepting new special economic zone applications beginning October 21. This month, Commerce Secretary Rahul Khullar went through the approval of 11 new SEZs. India’s SEZs have been instrumental in enticing investments and providing jobs although there are fears that this may change as the SEZ Act that allows generous […]
India Approves Rs.9.3 Billion E-Courts Project
Sept. 20 – India has approved a Rs.9.3 billion project that will help modernize and streamline its judiciary. The E-Courts Project will let people easily verify information on case status and verdict as well allow video conferencing facilities at courts and prisons. The project is part of government efforts to establish an National e-Governance Plan […]
New Simplified Labor Law Cleared Today
Sept. 17 – Today India approved the newest version of the labor law that simplifies procedures; helping small business file returns easier. The Labor Laws (Exemption from Furnishing Returns and Maintaining Registers by Certain Establishments) Amendment Bill 2010 was approved by India’s Cabinet and will be submitted next to Parliament. Under the new law, small […]
India Approves 11 Special Economic Zones
Sept. 17 – The Indian government gave the go signal to establish 11 special economic zones in the country with five of the IT related zones located in Karnataka in southwest India. Ten of the SEZs have been officially approved while one was given an in-principle approval for a pharmaceuticals SEZ to be built by […]
Business Group Recommends Changes to FDI Real Estate Rules
Sept. 16 – India should revise its regulations on foreign direct investment in the real estate sector to liberalize the industry and streamline the approval process for projects according to a study by the Federation of Indian Chambers of Commerce and Industry and Ernst & Young. The study, scheduled for release today, also recommended that […]
India to Consider Taxing Subsidiary Mergers
Sept. 15 – Government revenue authorities in New Delhi are considering taxing subsidiaries merging with their parent companies with a stamp duty ranging from 0.15 percent to 6 percent. This may mean that the Indian Stamps Act 1899 that exempts stamp duty when a subsidiary merges with its parent company risks being dissolved when the […]
