Category: Foreign Investment

/ Business

GST to Have Big Impact on Ease of Business Ranking Next Year

India has vaulted substantially a jump of 30 ranks to occupy the 100th place this year in the World Bank’s `Doing Business’ report, bringing it closer to the target set by Prime Minister Narendra Modi to be in the top-50 countries. Ramesh Abhishek, secretary, Department of Industrial Policy and Promotion (DIPP), the nodal department for the ease of doing business study, told that the jump in ranking proves that with strong political commitment and a motivated bureaucracy, things can happen. …

Continue Reading
/ Business

CBDT Signs Bilateral APA With Japanese Firm

The Central Board of Direct Taxes has signed a bilateral Advance Pricing Agreement (APA) with the subsidiary of a Japanese company as it looks to reduce litigations by providing certainty in transfer pricing. The total number of bilateral APAs signed with various Japanese subsidiaries has thus reached five, all with rollback provisions, a Finance Ministry statement said.
Four APAs out of these five have been signed in the current financial year, it added GST registration online. 
The APAs are …

Continue Reading
/ Business

Roll out of GST-1st July 2017; Draft CGST Law and Draft IGST Law approved in the 11th Council Meeting held on 4 March 2017

The GST Council in its 9th Meeting held on 16 January 2017 took note of the work to be completed for the rollout of GST and after deliberations, agreed to extend the date for rollout of GST from 1st April 2017 to 1st July 2017. Steps taken to ensure rollout of GST by 1st July 2017 include approval of the Draft GST Compensation Law by the GST Council in its 10th Meeting on 18 February 2017 held in Udaipur, Rajasthan. …

Continue Reading
/ Business

No GST Credit If Vendors Are Not Paid in 90 Days.

The Government circulated draft of the GST Model Law requesting for suggestions from the industry. The industry and experts have been poring over the draft. The article seeks to highlight the need to reconsider one of the provisions related to input tax credits. The proposed GST Legislation appears to deny tax credit in relation to input services for which payments are made after three months of the date of the invoice of the supplier. In fact the proposal mandates payment …

Continue Reading
/ Business

Is GST in India a Game Changer.

The Government’s plan to roll out Goods and Services Tax (GST) from April 1, 2017, has moved an inch closer to reality with the Hon’ble President Shri. Pranab Mukherjee signing the Government’s flagship GST Bill Recently . The much-awaited GST now becomes a law with President signing the GST Bill after more than 16 States (BJP-ruled Assam being the first one) ratified it in chartered accountant firm.

The introduction of GST is expected to not only make the …

Continue Reading
/ Foreign Investment

Where should an NRI Invest to earn Secured, After-Tax return?

NRE Bank FD or Money Market (Liquid) Fund?

NRE Bank FDs have always been considered the best investment product for NRIs to earn SECURED, TAX-FREE return in India. NRIs have poured in BILLIONS of dollars in NRE bank deposits to generate Secured tax-free return in India. However, with change in global compliance and reporting requirements to report foreign income and increasing currency risk of rupee (INR) depreciation, it is not that crystal clear any more.

Let’s understand it with an …

Continue Reading