India Market Watch: Fewer IT Jobs Created, India’s Realty Sector Leads Emerging Markets

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NASSCOM forecasts decline in new IT jobs

In a sign of the troubling times in India’s information technology (IT) sector, industry body National Association of Software and Services Companies (NASSCOM) has forecasted a major decline in new jobs created over the current fiscal year ending March 31, 2018. According to NASSCOM’s estimates, the IT sector will create 20 to 38 percent fewer new jobs in the fiscal year (FY) 2017-18 as compared to FY 2016-17.

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Outsource Payroll Processing and Optimize your Business Operations in India

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By Dezan Shira & Associates

Small and medium enterprises (SMEs) in India may find it challenging to keep track of the country’s changing social security, tax, and regulatory norms when computing payroll for its employees.

This is why it becomes advisable to outsource payroll – which is a functional mix of human resources and accounting – to a qualified third-party service provider. Such a policy frees the company to focus on its core business functions and profit-making operations.

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New RBI Guidelines on Issuance of Masala Bonds

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By Vasundhara Rastogi

IB-Masala Bonds Get Less Flavorsome

 

In June, the Reserve Bank of India (RBI) notified significant policy changes regarding the issuance of ‘masala bonds’, bringing them in alignment with the other elements of the External Commercial Borrowings (ECBs) framework.

Masala bonds are a popular debt-financing instrument used by Indian entities to raise funds in the overseas market.

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India Regulatory Brief: Tax Filing for NRIs, No Environmental Clearance for Solid Waste Management Projects

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Invoice upload utility on GSTN portal from July 24

Businesses registered on the Goods and Services Network (GSTN) portal will be able to upload their invoices starting July 24. GSTN serves as the information technology platform that administers the GST regime. Once the portal launches the facility, businesses can upload their invoices on a weekly or daily basis – if they wish to avoid the month-end rush.

The GST kicked in on July 1, in a major reform of the indirect taxation system in India. Under the new regime, businesses need to generate invoices for transactions above US$3.11 (Rs 200) and maintain these invoice records in serial number – if they want to claim input tax credit (ITC).

Previously, the GSTN portal introduced an offline MS Excel format for businesses to record their invoices; now these can soon be uploaded.

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Foreign Investment in Indian Retail: Challenges and Opportunities

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By Bradley Dunseith

foreign-direct-investment-India-retail

 

India’s regulatory framework on foreign direct investment (FDI) in retail is one of the most complex in the world. But, navigating this perplexing system means gaining access to one of the world’s fastest growing consumer markets.

This article outlines India’s regulatory landscape for FDI in retail while offering suggestions on how foreign businesses can successfully maneuver through them.

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India’s Employment Visa Procedures

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By Dezan Shira & Associates

Employment visas are an annual headache for foreign businesses and businesspeople in India – Indian authorities typically issue one-year multiple entry visas that can be renewed for up to five years. To ensure a quick turn-around time on a successful application, applicants and employers should take a collaborative, hands-on approach

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India Market Watch: Japan Seeks Infra Investments in Northeast, Harvard Says India Fastest Growing Economy

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Japan wants to invest more in the northeast

Highly placed sources have confirmed that Japan is seeking greater investment opportunities in India’s northeast region. Japan is particularly interested in developing road connectivity between states like Assam, Meghalaya, and Manipur to boost trade and regional growth.

Also benefiting from such investments will be improved commercial linkages between Asia and Africa via the Dawei Special Economic Zone (SEZ) located in Myanmar. Dawei SEZ is jointly being developed by Japan, Thailand, and Myanmar, and connects the Indo-Pacific region.

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Impact of GST on Imports and Exports in India

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By Vasundhara Rastogi

GST on Imports and Exports in India

The new goods and services tax (GST), launched on July 1, 2017, will change the way of doing business in India. It is likely to have a significant impact on the international trade of goods through changes in the structure of import and export taxation, and the withdrawal of various indirect taxes and exemptions.

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