Other Briefings
Indian Industrial Output Shrinks, WPI Inflation Declines
Feb. 15 – In a worrying development, data from the Central Statistics Office (CSO) has revealed that India’s Index of Industrial Production (IIP) contracted by 0.6 percent in December, largely due to sluggish performance in the manufacturing and mining sectors. Compounding the issue, contraction of industrial production in November has been revised further down, from […]
An Overview of India’s Taxes on Business
Feb. 13 – In this article, we give a brief overview of India’s major taxes and duties on business, including Corporate Income Tax, Dividend Distribution Tax, Minimum Alternative Tax, Value-Added Tax, Central Sales Tax, Goods And Service Tax, Customs Duty, Excise Duty (CENVAT) Service Tax, Capital Gains Tax, Wealth Tax, and Withholding Tax. The central […]
Moody’s: India’s Rating Outlook Stable
Jan. 22 – International credit rating agency Moody’s reaffirmed India’s rating and scored India as a “Baa3,” which indicates investment grade with a stable outlook. This rating is equivalent to Standard and Poor’s (S&P) and Fitch’s “BBB(-)” rating. A downgrade would have pushed India into the so-called “junk” status, which would essentially mean that interest […]
New Issue of India Briefing: India’s Taxes for Foreign-Invested Entities
In this issue of India Briefing, we begin with an overview of India’s taxes on business, which includes a section on India’s double taxation avoidance agreements, and then discuss individual income tax rates and deductions.
Indian Government to Defer GAAR to 2016
Jan. 16 – On Monday January 14, Indian Finance Minister P. Chidambaram stated that India would delay the implementation of its controversial rules on tax avoidance known as the General Anti-Avoidance Rules (GAAR) to 2016. The decision earned positive reactions from the market, and is likely to help attract more capital inflow and improve investor […]
Economists Call for Higher Income Tax Rate on Super Rich
Jan. 10 – At a pre-budget meeting held on Monday with India’s Finance Minister P Chidambaram, the country’s leading economists proposed that a higher income tax rate for the rich be announced in the Budget for 2013-14. Days before the pre-budget meeting, C Rangarajan, Chairman of Prime Minister’s Economic Advisory Council, said the government could […]
Corporate Taxes in India
In this article, we outline some of the key tax responsibilities for both foreign and domestic companies operating in India with regards to the following areas: Corporate Income Tax, Value-Added Tax, Goods and Service Tax, Withholding Tax.
Assocham’s Pre-Budget Memorandum Seeks to Spur Economic Growth
Dec. 6 – The Associated Chamber of Commerce and Industry of India (Assocham) released its Pre-Budget Memorandum for 2013-2014 on December 3, 2012 with the chamber pointing out that the country is facing competitive disadvantages brought on by complex multi-layered indirect tax structures. Assocham also suggested measures to be taken in order to revive consumer […]
