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Growth of Digital Payments Systems in India

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By Dezan Shira & Associates

IB-Preparing for a Cashless Society

 

In line with government reforms, Prime Minister Narendra Modi has pushed Indians to adopt cashless transactions, giving the digital payments sector a significant boost.

The sector is experiencing an unprecedented jump in growth since November last year, when the government demonetized high currency bills (Rs 500 and 1000) – which represented 86 percent of India’s cash in circulation. By February this year, digital wallet companies had shown a growth of 271 percent for a total value of US$2.8 billion (Rs 191 crore).

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After GST, Services Sector Face New Challenges in India

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By Vasundhara Rastogi

The service sector is a key driver of economic growth in India, contributing to over 50 percent of the country’s overall Gross Domestic Product (GDP). Key services in terms of revenue generation include business activities such as trade, hotel and restaurants, real estate, logistics and warehousing, finance, and insurance.

The Goods and Services Tax (GST) launched on July 1, 2017 is likely to have a significant impact on the growth of these services. This is because it substantially affects the valuation of the service categories, their operations in each state via multiple returns filing, and stringent tax compliance.

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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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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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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 how business is done 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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Startups in India: New Business Relaxations, Eligibility Criteria Announced

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By Dezan Shira & Associates

Startups in India will now benefit from more relaxations under the Companies Act, 2013 – a move that will reduce compliance requirements and allow for operational flexibility. These are in addition to exemptions announced in June 2015.

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Dezan Shira & Associates

Meet the firm behind our content. Dezan Shira & Associates have been servicing foreign investors in China, India and the ASEAN region since 1992. Click here to visit their professional services website and discover how they can help your business succeed in Asia.

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