Other Briefings
The Impact of FDI on India’s Manufacturing Sector
Foreign direct investment (FDI) has risen considerably in post-reform India. The work and category of FDI has changed significantly since India has opened up to world markets. This has fueled high prospect that FDI may serve up as a channel to advanced economic growth. However, it turns out that the development effects of FDI differ extensively across sectors.
Central Sales Tax to Remain Under New Tax Regime
Sept. 22 – Central government authorities have given their partial approval to the local government proposal that they be allowed to continue to charge Central Sales Tax (CST) on goods even under the new Goods and Services Tax (GST). If implemented, states will be able to levy and keep CST on goods outside the GST […]
India Service Tax to be Levied at Invoicing
Aug. 6 – As part of India’s new Goods and Services Tax (GST), India is considering switching to a time of supply system that will allow service tax to be levied at the point of raising invoice instead of when the amount is received. “There will be a change from cash system to accrual system. […]
Summer Special
Pranav Mistry Shows Off ‘SixthSense’ Technology A late 2009 video of India IT wunderkind Pranav Mistry demonstrating his “SixthSense” technology continued to draw in our India Briefing readers in 2010. The presentation, made at the TED India conference, showed off Mistry’s tools that allow the physical world to interact with the digital one, including a […]
Three Rate Structure Proposed for India’s Goods and Services Tax
Jul. 22 – A three-rate structure for the India Goods and Services Tax was proposed by Finance Minister Pranab Mukherjee yesterday as a way of streamlining implementation. Under his proposal, there will be a 20 percent levy on goods, 16 percent on services and 12 percent on essential items. The GST in India is scheduled […]
Wider Scope for India’s Service Tax Proposed
Feb. 25 – India’s Central Board of Excise and Customs (CBEC) has proposed widening the scope for India’s service tax to include the entertainment business for the upcoming Union Budget 2010-11. Currently, entertainment is separately taxed by states and as a service tax by the central government with no prevailing uniformity on taxation since taxes […]
New Goods and Services Tax Implementation Date to be Announced in April
Jan. 29 – The Indian government has officially announced the delay of the implementation of the new Goods and Services Tax (GST) with the new roll out date to be decided in April 1. The head of the empowered group of state finance ministers, Asim Dasgupta, said in a statement that the April 1 deadline […]
New India Tax Laws a Boon for Audit, Consulting Firms
Jan. 19 – India’s massive overhaul of tax laws and corporate regulations will be a boon for audit and consulting firms serving the Indian market when the new laws are finally enforced. India wants to adopt International Financial Reporting Standards (IFRS), Goods and Services Tax (GST), Direct Taxes Code and the new Companies Act soon. […]
