India’s indirect tax and customs department, CBIC, is working to clear long-stuck GST refunds for exporters, including through PAN-based clearance and a special refund fortnight till June 14, 2018.
Despite India’s high tax burden, foreign investors should pace themselves; the country offers a variety of regional and sector-based incentives to boost its competitiveness.
India provides a range of tax and non-tax related benefits to foreign investors. These may be industry-specific, location-based, or export-linked incentives.
India’s SEZs offer tax incentives to their resident businesses. In this article, we highlight key information relevant for companies setting up in an Indian SEZ or developing an SEZ.
We discuss the GST returns forms to be submitted by all regular business entities in India and compliance requirements under the GST system.
We discuss the GST returns for input service distributors, TDS for purchasers of goods and services when making payments to suppliers, and TCS for e-commerce operators in India.
Last year saw an overhaul of the indirect tax system in India with the establishment of the goods and services tax (GST). Here we discuss GST compliance for non-resident businesspersons and diplomatic missions in India.
The composition scheme under the Goods and Services Tax allows SME suppliers of goods (intrastate) to file their GST returns at a fixed rate. We discuss the advantages and challenges of the scheme.