Other Briefings
Tax Exemption List for Port, Airport Services to be Released Soon
May 19 – India will soon announce a list of tax exempt port and airport services as it tests aspects of the pending comprehensive service tax regime. “We will tax even non-taxable services but spare some essential services such as medical, education, pollution control and emergency services such as fire fighting, special services provided at […]
Government to Implement Stricter Audit for NGO Funding
May 17 – The Finance Ministry has announced measures that will strictly monitor government funding to non-profit organizations as part of efforts to stay within budget during the year. “All ministries and departments of the Government of India should include in their annual report a statement showing the quantum of funds provided to each of […]
India Briefing Releases Guide to Doing Business in India
May 13 – India Briefing has just published a new business guide to India. “Doing Business in India” is the definitive guide to one of the fastest growing economies in the world, providing a thorough and in-depth analysis of India, a comprehensive guide to investing in the country, and key demographics and overviews of the […]
Himachal, Uttarakhand Calls for Renewal of Special Industrial Package
May 13 – Himachal Pradesh and Uttarakhand state authorities are requesting that expired special industrial packages be renewed. Chief Ministers Prem Kumar Dhumal and Ramesh Pokhriyal Nishank submitted a joint letter to Prime Minister Manmohan Singh on Wednesday to request the renewal. The package has successfully enticed investment to the states with its host of […]
Finance Ministry Officials Propose Tax Reforms to Services Sector
May 3 – Finance ministry officials called for reforms to India’s tax structure for services like shipping, aviation and telecom to make them competitive. In a working paper titled, “Policy for India’s Services Sector,” finance ministry senior economic adviser H.A.C. Prasad and additional economic adviser R. Sathish said that the government should rationalize the tax […]
India Considering Rule Change on Foreign Ownership of Banks
Apr. 30 – India is considering changing some investment rules on foreign ownership of banks according to industry secretary R.P. Singh. Singh told Dow Jones Newswires on Friday that the government may treat fresh investments by banks that are majority owned by foreign investors as local. Under the current rules, any investment made by foreign […]
India Considers Cutting Export Costs
Apr. 28 – The Indian government is looking for ways to cut costs for exporters to make them more competitive in world markets. This may involve simplifying procedures and transparency issues as well as doing away with cost inefficiencies. The Minister of State for Commerce and Industry Jyotiraditya Scindia is heading a task force to […]
Report: Foreign Service Recipients Account for Majority of Tax Evasion Cases
Apr. 26 – Local firms receiving services from overseas firms accounted for a quarter of service tax evasion during the period 2008-09, according to a Comptroller and Auditor General (CAG) report. Current tax regulations dictate that the receiver of services in India must pay service tax for services received from a non-resident with no office […]
