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Port Infrastructure in India: Government Incentives for Investment

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By Vasundhara Rastogi

India’s geographical location is central to key international trade routes across the Indian Ocean between Europe and Asia. This offers India a great opportunity to grow into a maritime hub.

India has a long coastline of over 7,500 km, which houses its 12 major ports and about 200 non-major ports. These ports serve as the country’s gateways to global trade, and cater to about 95 percent of India’s total foreign trade (by volume).

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Direct Taxes in India Explained

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By Vasundhara Rastogi

In India, there are two types of taxes levied by the government: Direct taxes and indirect taxes. Indirect taxes are levies imposed on goods and services, whereas direct taxes are levied on the income and profits of individuals and organizations. Direct taxes are directly paid to the government by the tax payer.

Income tax is a direct tax, paid on personal income by an individual or a company, to the federal government.

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India’s Accession to UN TIR Convention to Boost Foreign Trade

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By Koushan Das

Earlier this year, the federal government approved India’s accession to the Convention on International Transport of Goods under cover of TIR Carnets (TIR Convention). This is an international transit system to facilitate seamless movement of goods amongst its member states.

Being party to this convention will enhance India’s connectivity with Southeast Asia and the Eurasian continent, and could make India a major transit and trading hub between the two regions.

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Intellectual Property Rights (IPR) in India: Laws and Procedures for Registration

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By Vasundhara Rastogi

Protecting and managing intellectual property rights (IPR) is the first step for any business seeking to establish its presence in India, and must be incorporated as an integral part of the business asset growth strategy.

Having a distinguished intellectual property can set your business apart from competitors, and become an essential part of your marketing. An intellectual property can also be sold or licensed to generate revenues for you or your business.

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India’s GST Rates for Goods and Services Released ahead of July 1 Implementation

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By Dezan Shira & Associates

With the Goods and Services Tax (GST) set to be rolled out on July 1, the GST Council finally released its tax schedule for goods and services.

During the Council’s 14th session held from May 18 to 19, 1,211 goods and various service categories were fitted into the tax slabs – 5, 12, 18, and 28 percent.

In addition, the GST Council finalized the goods and services that will be exempted from paying GST.

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The RERA Act – An Explainer

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By Bradley Dunseith

Effective May 1, 2017, the Real Estate (Regulation and Development) Act, 2016 (RERA) will regulate all land development bodies (public and private) that develop real estate for the general public. This includes both residential and commercial real estate.

RERA is an ambitious attempt by India’s federal government to regulate the country’s real estate sector – a sector notorious for its corruption and lack of transparency. The maximum penalties for non-compliance under the Act range from a fine equivalent to ten percent of the property in question or up to three years of imprisonment.

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Investing in Kochi: Port City and Emerging IT Hub in India

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By Vasundhara Rastogi

Kochi (formerly Cochin), is a port city located in the southwest coastal state of Kerala, in India. With an estimated population of 602,046 and an extended metropolitan population of about 2.1 million, Kochi is the largest cosmopolitan metropolis in Kerala.

The city is a cluster of islands and towns, which include Ernakulam, Mattencheri, Fort Cochin, Willingdon Island, Vypin Island, and Gundu Island. The urban agglomeration includes the localities of Trikkakara, Eloor, Kalamassert, and Trippunithura.

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Payroll Processing and Compliance in India – New Issue of India Briefing Magazine Out Now

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The new issue of India Briefing magazine, titled “Payroll Processing and Compliance in India“, is out now and available as a complimentary download in the Asia Briefing Publications Store.

Payroll Processing in India

In this issue:

  • Payroll Calculation, Processing, and Reporting in India
  • The Social Security System in India
  • The Applicability and Calculation of Gratuity in India
  • Outsource Payroll Processing and Optimize your Business Operations

Businesses in India have to contend with the dual challenge of employment laws and regulations derived from multiple sources. Some of these sources are the constitution, labor statutes, judicial precedents, and collective and individual agreements.

In addition, labor matters come under the concurrent list of subjects in the Indian constitution. This means that labor regulations are in the jurisdiction of both federal and state governments, which have respectively enacted numerous laws on labor relations and employment matters.

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