October Newsletter 2020
Indian economy numbers have steadily improved in October, with Wholesale of passenger vehicles in India rose by 26.45% to 2,72,027 units in September as compared to 2,15,124 units in the same month last year. On the Direct tax front, certain procedural amendments have been brought-in with Covid related relaxation of due dates, similarly in GST certain Covid related relaxation of due dates has been made.
September Newsletter 2020
Indian economy numbers are steadily improving with signs such as an increase in India’s Purchasing Managers’ Index (PMI – Manufacturing) or PMI for Services. The PMI for Manufacturing expanded to 56.8 in September 2020, the highest since January 2012. The PMI for Services expanded for the fifth straight month in September to 49.8 from 41.8 in August, the country’s Goods and Services Tax (GST) collections grew 4 per cent to Rs 95,480 crore in September.
August Newsletter 2020
In a major initiative in tax transparency and to make tax system free from any graft, India has introduced faceless assessments, accordingly Central Board of Direct Taxes (CBDT) amended the “E-assessment Scheme” and it will be known as “Faceless Assessment Scheme”, it will be effective from September 25, 2020.
July Newsletter 2020
An agreement of US$ 750 million has been signed between World bank and GOI for the MSME Emergency Response Programme to support the increased flow of finance into the hands of micro, small, and medium enterprises (MSMEs), severely impacted by the COVID-19 crisis.
June Newsletter 2020
Indian companies have invested around US$ 22 billion worth of foreign direct investment (FDI) into the United States (US) and created 125,000 jobs covering all 50 states, Washington DC and Puerto Rico, according to Confederation of Indian Industry (CII).
May Newsletter 2020
The World Bank on Friday announced $1 billion in social sector funding for India for mitigating the economic and humanitarian crisis being faced by unorganized workers and migrant laborers impacted by the Covid-19.
April Newsletter 2020
Looking into India’s superb growth story the Facebook has decided to invest in Reliance Industries Limited, Jio Platforms Limited entering into binding agreements for an investment of Rs 43,574 crore (US$ 5.7 billion).
March Newsletter 2020
Covid-19 relief measures, which will lead to ease of doing business in this difficult time for entrepreneurs relate to Direct tax, Indirect tax- GST & Customs, Foreign Trade policy, Corporate Laws- Companies act, LLP Act and SEBI and RBI related relaxations.
February Newsletter 2020
On direct tax front, earlier the CBDT has extended the last date for linking of PAN with Aadhaar (India’s Citizenship identification number) from December 31, 2019 to March 31, 2020. Now the CBDT has prescribed the Rules for making PAN inoperative of those persons who failed to intimate their Aadhaar Number on or before March 31, 2020.
January Newsletter 2020
With Budget 2020 around the corner, the Indian business strata is busy in speculating it’s demand from the Finance minister. The government’s task is tightly cut out, with the Indian economy slowing down and political landscape becoming sticky, the fact that the global cues are also not much in favor, the question arises would the budget be a populist one, which pleases the middle class and economically deprived?
November Newsletter 2019
India has set a very ambitious aim of becoming a US$ 5 trillion economy with the Finance Minister stating that India plans to spend US$ 1.4 trillion on its infrastructure in next 5 years, to become a US$ 5 trillion economy by 2024. Further it was also reported that India Inc. has become socially responsible by spending over US$ 7.15 billion over last five years on corporate social responsibility.
December Newsletter 2017
The New Year has brought about a new hope for the Indian economy, with the Economic Survey 2018 projecting a healthy growth at 7-7.5% for the next fiscal year 2018-19 The prime minister of India, Mr. Narendra Modi attending the world economic forum in this month, emphasized the importance of collective growth of world economies, importance of Big Data and cyber security.
November Newsletter 2017
The winter in India has finally kicked in, with economic weather stabilizing a bit after changes of GST and Demonetization. The current political party being a part of current incumbent government has won key state elections of Gujarat and Himachal Pradesh, bringing stability and certainty in the Indian political climate.
September & October Newsletter 2017
The last two months of September and October has been busy in compliance world of Indian regulations with deadlines of Income tax, transfer pricing, GST and company law falling within these autumn months. The significant achievement of India business area in last two months is dramatic improvement in World Bank ranking of ease of doing business, with India jumping from Rank of 130 to 100 in ease of doing business. This has mainly been possible due to introduction GST law as well as streamlining of various business laws.
August Newsletter 2017
The month has been all about GST compliances, with economy feeling jitters of new change in regulatory scenario. The performance of GSTIN has not been up to mark, where visa –versa was expected in dawning age of Machine learning and Artificial intelligence.
July Newsletter 2017
The Rocket of GST has finally pushed the satellite of GST in its desired orbit . The transition has not been easy and the regulations are still being notified and clarified. Apart from GST a land mark change is being made in the companies act to encourage ease of doing business, further few rules have been eased out.
June Newsletter 2017
Rocket of GST has finally been launched on 1st July 2017 in the regulatory orbit of Indian fiscal landscape. Government is expecting that GST will finally unify India’s highly diverse fiscal market in to one fiscal powerhouse. The law is slowly but steadily being notified with government spreading the nuances of GST to business men through various forms of media.
May Newsletter 2017
It’s a hot summer in India and heat is not limited to weather, but the regulatory scenario is also boiling up, with countdown to India’s biggest tax reform already begun. GST law is undergoing fine tuning before its launch with changes every week in terms of rates and rules .The Indian Government is determined to implement the GST w.e.f 1st July 2017.
April Newsletter 2017
India has its new fiscal year starting from on 1st April 2017. The country is in grip of its biggest indirect tax reform of its independent history, with CGST, IGST & the Goods and Services Tax (Compensation to States) Bill, 2017 and the Union Territory Goods and Services Tax Bill, 2017 receiving assent of president and becoming an act in April 2017.
March Newsletter 2017
March 2017 was a GST month, with the ruling party of India i.e. BJP winning four state elections with huge mandate which helped the ruling MODI government to quickly clear the GST bills at the cabinet level and which were accordingly introduced at Lok Sabha level.
Febuary Newsletter 2017
February 2017 was all about Budget and its impact, with analysis boiling down to drawing room of average citizen of India. The positive news of GDP growth being 7% between the demonetization months of October to December is a surprise and relief to many.
January Newsletter 2017
Budget 2017 has been announced with a new hope for a new India. These are exciting and challenging times in India, with fiscal and regulatory space changing at a quick pace to create a new word aligned India. The January 2017 started in shadow of demonetization, with winter chills being felt in the economy.