Other Briefings
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 […]
GST Roadblocks Continue to Impede Progress in India
By Sofia Liska May 22 – India has been trying to shift from consumption taxation to the goods and services tax (GST) for some time now. Unfortunately, there are a few obstacles that have continued to impede the progress of this transition. This article will discuss those obstacles. It is important to know that the […]
Foreign Workers Permitted to Withdraw from Provident Fund
Overseas workers are permitted to withdraw the entire amount standing to their credit in the fund in the situations listed here.
