Other Briefings
Delhi Proposes Exclusion of Diesel, Petrol and Healthcare from New India GST
Aug. 4 – The New Delhi government is proposing that diesel, petrol, compressed natural gas and health care services be excluded under India’s new Goods and Services Tax (GST) scheduled to be implemented next year. “Several other states have also supported our view to keep petroleum products and CNG out of the ambit of GST. […]
Demat Accounts without PANs to be Suspended
Aug. 3 – Demat account holders with no permanent account number (PAN) details will be suspended for credit and unable to buy shares starting August 16. Demat accounts are dematerialized accounts needed to be able to buy and sell stocks in the country. According to the Securities and Exchange Board of India, a PAN must […]
Income Tax Return Deadline Extended
Aug. 2 – India’s Central Board of Direct Taxes announced it would extend income tax return filing from July 31 to August 4. All returns, whether done electronically or not, as long as it is given on or before August 4 will be considered on time. The extension was announced after reports that the e-filing […]
India to Release Paper for Digital Broadcast Switch
Aug. 2 – The Telecom Regulatory Authority of India (TRAI) is slated to release its final consultation paper on the country’s plan to change from analog to digital broadcast signals by December 2013 next week. “All the industry players have welcomed the regulation by TRAI on digitalization and we are expecting to release the final […]
India Revises Telecom License Rules
Jul. 30 – The Directorate of Telecommunications has made changes to the the unified access service license (UASL), reflecting heightened security concerns. Equipment suppliers must now disclose business details and allow their manufacturing facility to be inspected. Moreover, they are obliged to reveal design, development and supply chain details as well as allow hardware and […]
India GST: Indian States Request Central States Tax to Remain
Jul. 29 – Indian states are proposing that Central States Tax (CST) still be applicable when the pending Goods and Services Tax (GST) is implemented. The local government wants the CST to remain in the first few years of India’s GST application as a way of ensuring revenue for them. The union government recently recommended […]
India Considers Easing Approval for FDI-Funded Investments
Jul. 27 – The Finance Ministry and the Department of Industrial Policy and Promotion is considering allowing foreign funded Indian companies to invest in subsidiaries without needing prior approval. Currently, local companies with substantial foreign direct investment must obtain approval from the Foreign Investment Promotion Board (FIPB). Most likely the pre-approval process will not be […]
India Proposes Repatriation of Profits for Foreign Real Estate Companies
Jul. 13 – The Department of Industrial Policy and Promotion is studying a proposal to allow foreign real estate companies to repatriate all their profits except the minimum initial investment of US$5 million. This will apply to foreign companies in a joint venture with a local developer and will effectively limit India’s lock-in period for […]
