Other Briefings
New Service Tax Regime Introduced from July 1, 2012
A new service tax system has been introduced this week in India based on a list of 38 exemptions, rather than the previous list of 119 explicitly taxed activities. Under this regime, a tax of 12 percent will be levied on all services not included in the negative list.
Individual Income Tax in India
Jun. 29 – Income tax in India is a tax paid to the central government on personal income. It is the direct tax paid on income by an individual or a company/firm within a given financial year. The Indian Income Tax Department is governed by the Central Board for Direct Taxes and is part of […]
India’s Goods and Service Tax Continues to Face Delays
By Ian Bhullar Jun. 19 – Although implementation of India’s new Goods and Service Tax (GST) continues to stall, recent developments raise hopes that this substantial tax reform will achieve its proposed implementation date of April 2013. The GST, which seeks to rationalize the indirect tax structure by consolidating India’s complex system of indirect taxes […]
India’s Goods and Service Tax
Jun. 7 – India’s goods and service tax (GST) is a nationwide comprehensive indirect tax levied on the manufacturing, sales and consumption of goods as well as services. GST is intended to create a single unified Indian market with fewer complications – in turn making it an attractive investment destination. Current scenario Currently, the indirect […]
Retrospective Taxation – Probably Not Applicable to Most Foreign M&A Deals
Jun. 5 – Foreign investors have been wary of investing in India since the beginning of the year after the budget introduced the General Anti-Avoidance Rules, or GAAR, and retrospectively changed the income tax law. Vodafone is expected to be the first victim of this tax and the press has subsequently dubbed the retrospective tax […]
Morgan Stanley Obtains Indian Banking License
The Reserve Bank of India has granted the U.S. financial institution Morgan Stanley a banking license.
SEBI Regulations 2012: Broadening the Horizon for Private Equity Funds
By Sofia Liska May 25 – The fund industry in India will soon enter the next phase of its evolution now that the Securities and Exchange Board of India (SEBI) has released the 2012 alternative investment fund (AIF) regulations, which they aligned to work with both international developments and the Indian economy. Little will change […]
Rupee Hits Record Low for Sixth Straight Day
May 23 – The Indian rupee hit a record low for the sixth straight day on Wednesday, slumping to 56.18 against the dollar despite the Reserve Bank of India’s likely intervention earlier in the day in a mild attempt to prevent further falls. The RBI is thought to have intervened at 55.79, which saw the […]
