New compliance requirements aim to strengthen corporate governance and improve financial transparency in India, requiring conversion of shares into demat form and maintenance of a record of beneficial ownership among company shareholders.
Starting an import-export business in India with the right strategies allows a firm to access information resources, network contacts, and concessions, which are key to profitability and compliance.
Corporate social responsibility directs companies in India making a net profit of more than US$750,000 in a single financial year to spend on social causes in India. We discuss the implications for SMEs.
Foreign firms interested in establishing a wholly owned subsidiary in India can set up a private limited company to access regulatory and tax benefits.
India’s federal government recently notified industrial development schemes for new and existing industrial units in Jammu and Kashmir, Himachal Pradesh, and Uttarakhand, aiming to boost the MSME sector.
The Maharashtra Shops and Establishments Rules, 2018 are applicable to all commercial establishments in the state, (not covered under the Factories Act), which employ 10 or more workers.
Consumer protection in India under the amended Legal Metrology Rules 2017 is now applicable to packaged commodities sold on online platforms and will regulate Notified Medical Devices as well.
India’s new accounting standard, Ind AS 115, is in effect from April 1, 2018, and is aligned with the International Financial Report Standards (IFRS).