Other Briefings
Equalization Levy Compliance Framework for Non-Resident E-Commerce Operators in India
In keeping with BEPS provisions, India has in place an equalization levy since 2016, which was amended in the Finance Act 2020. We discuss how this digital tax mechanism impacts non-resident e-commerce operators in India.
India’s New E-commerce Tax Regulations for Composition Taxpayers and Unregistered Individuals
India’s indirect tax regulator CBIC has introduced new rules of e-commerce taxation, which affect composition taxpayers and unregistered individuals supplying goods.
Meeting the July 31 ITR Filing Deadline for AY 2023-24 in India: Implications for Businesses
Timely filing and verification of income tax returns (ITR) are necessary for businesses in India to effectively navigate the tax system and avoid penalties and loss of tax benefits.
India’s 50th GST Council Meeting July 2023: Key Outcomes for Businesses
This article highlights the key outcomes of 50th GST Council Meeting – July 2023, providing insights into changes in tax rates, exemptions, strengthening GST implementation, and measures aimed at enhancing compliance.
28% GST Recommended on Online Gaming, Casinos, and Horse Racing in India: Implications for Businesses
India’s 50th GST Council held in July 2023 imposed a uniform 28 percent tax on the full face value of online gaming, casinos, and horse racing. This article examines the impact of this recent decision on businesses operating in India.
Taxation of India’s Outbound Remittances: LRS Scheme and Increased Tax Rate from October 1
Effective October 1, 2023, the Indian government has increased the tax on outbound remittances from 5% to 20% – with certain exceptions.
Tax, Accounting, and Audit in India 2023-24 – New Publication from Dezan Shira & Associates
This comprehensive guide, applicable for the financial year 2023-24, will enable foreign investors to stay tax efficient and compliant under India’s corporate and tax laws.
Amendments to IAS 12: Temporary Relief for Accounting Deferred Taxes under OECD Pillar Two Rules
Recent amendments to IAS 12 offer temporary relief to MNEs from the accounting requirements for deferred taxes arising from the implementation of the OECD’s Pillar Two. Companies can immediately benefit from the temporary exception, while specific disclosures to investors are required for annual reporting periods starting on or after January 1, 2023.
