India's Finance Act, 2024 Makes Changes to the Input Service Distributors Mechanism in the GST Regime

Tax & Accounting

India Briefing explores the latest amendments introduced in the Finance Act 2024 such as the definition and procedures concerning the Input Service Distributor (ISD) concept under the Goods and Services Tax (GST) regime. 

Tax & Accounting

India's New Tax Compliance Law Impacting MSMEs: Section 43B(h) Explained

We discuss why specified companies could face higher taxable incomes under section 43B(h) of the Income-tax Act, 1961, due to delayed payments to MSME suppliers.

Tax & Accounting

Examining Significant Changes to India's ITR Forms for AY 2024–25

The early release of the updated ITR forms from the Income Tax Department of India aim to enhance user experience and ensure taxpayer awareness. The changes are based on amendments to the Income-tax Act, 1961, as detailed in the Finance Act, 2023.

Tax & Accounting

India’s Tax Authority Issues Notification for Non-Resident Investors in Financial Products via IFSC Units

The Ministry of Finance notification delineates the criteria for the recognition of investment in a financial product by non-residents, particularly when the income is deposited in the non-resident's account with the Offshore Banking Unit of the IFSC, as specified in section 80LA.

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India Briefing

Economy & Trade

Economy & Trade

Mumbai Investment Profile: Economy, Infrastructure, Industries

Feb 16

Read our profile of Mumbai, the capital of the western state of Maharashtra, and the premier financial and commercial hub of India.

 

Tax & Accounting

Tax & Accounting

India's Finance Act, 2024 Makes Changes to the Input Service Distributors Mechanism in the GST Regime

Feb 21

India Briefing explores the latest amendments introduced in the Finance Act 2024 such as the definition and procedures concerning the Input Service Distributor (ISD) concept under the Goods and Services Tax (GST) regime. 

 

Legal & Regulatory

Legal & Regulatory

A Step-by-Step Guide to Establishing Your Business in India's GIFT City

Feb 15

We discuss the step-by-step process of setting up a business in the GIFT City in Gujarat, India's first IFSC and multi-services SEZ.

Industries

Industries

Farm Mechanization in India's Agriculture Sector: Challenges and Opportunities

Feb 20

We discuss why India needs to increase its farm mechanization adoption rate to sustainably manage changing workforce preferences and output. Businesses that can provide cost-effective technology solutions stand to benefit from the vast agrimarket.

 

HR & Payroll

HR & Payroll

The OSH Code, 2020: A Primer

Feb 21

The yet to be implemented Occupational Safety, Health, and Working Conditions (OSH) Code, 2020 will subsume several existing HR regulations.

 

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