Tax, Accounting, and Audit in India 2016-2017: New Publication from India Briefing

Posted by Reading Time: 4 minutes

India Tax Guide cover

Tax, Accounting, and Audit in India 2016-2017, the latest publication from India Briefing, is out now and available to subscribers as a complimentary download in the Asia Briefing Bookstore. The publication is designed to introduce the fundamentals of the tax regime as well as the critical accounting and auditing practices in India. As such, this comprehensive guide is ideal for not only businesses looking to enter the Indian market, but also for companies who already have a presence here and want to stay up-to-date with the most recent and relevant policy changes.

India’s tax regime is complex. The multitude of taxes imposed by the central and state governments and regular changes in tax laws make it important for businesses to keep themselves up-to-date with the tax system in India.

While the tax system does present some challenges to businesses that are planning to enter or are currently in India, the Indian market also provides several rewards to businesses that are able to formulate a tax-efficient operating strategy.

The market itself has great potential to grow. In spite of a global economic slowdown, India’s GDP growth has been among the highest in the world at 7.6 percent. This affirms that the economy is on the right track and has encouraged the government to push ahead with its reforms. The government remains committed to attract foreign investment in India and has also sought to implement several reforms to simplify the tax rules and bring them at power with global best practices.

2016 marks a watershed year for India with respect to tax reforms. The Goods and Services Tax (GST) was recently passed by the Indian parliament, which will remove several layers of taxation. The GST will remove the cascading effect of taxes, which has been seen a hindrance to the Ease of Doing Business in India.  Tax, Accounting, and Audit in India 2016 critically evaluates the impact of such reforms and also explains the key tax protocols for businesses in India.

Tax, Accounting, and Audit in India 2016-2017 covers the following:

  • India’s Tax Laws- An Introduction
  • Indirect Taxes
  • International Taxation
  • Auditing Practices in India
  • Accounting Index

Within these topics, we discuss a range of pertinent issues for foreign businesses. The issues range from the most important tax dates for foreign companies, the key accounting practices to enable optimal business operations, how to conduct a successful audit, and the impact of the new tax reforms in India. In addition, we detail the various procedures and associated taxes for importing and exporting goods from India as well as the dispute resolution mechanisms for tax issues in India.


About Us

Asia Briefing Ltd. is a subsidiary of Dezan Shira & Associates. Dezan Shira is a specialist foreign direct investment practice, providing corporate establishment, business advisory, tax advisory and compliance, accounting, payroll, due diligence and financial review services to multinationals investing in China, Hong Kong, India, Vietnam, Singapore and the rest of ASEAN. For further information, please email or visit

Stay up to date with the latest business and investment trends in Asia by subscribing to our complimentary update service featuring news, commentary and regulatory insight.

Related Reading-IB

IB Nov issue smallEstablishing Your Sourcing Platform in India
In this issue of India Briefing, we highlight the advantages India possesses as a sourcing option and explore the choices available to foreign companies seeking to create a sourcing presence here. In addition, we examine the relevant procurement, procedural and tax duty concerns involved in sourcing from India, and conclude by investigating the importance of supplier due diligence – a process that, if not conducted correctly, can often prove the undoing of a sourcing venture.

Taking Advantage of India’s FDI Reforms
In this edition of India Briefing Magazine, we explore important amendments to India’s foreign investment policy and outline various options for business establishment, including the creation of wholly owned subsidiaries in sectors that permit 100 percent foreign direct investment. We additionally explore several taxes that apply to wholly owned subsidiary companies, and provide an outlook for what investors can expect to see in India this year.

Passage to India: Selling to India’s Consumer Market
In this issue of India Briefing Magazine, we outline the fundamentals of India’s import policies and procedures, as well as provide an introduction to the essentials of engaging in direct and indirect export, acquiring an Indian company, selling to the government and establishing a local presence in the form of a liaison office, branch office, or wholly owned subsidiary. We conclude by taking a closer look at the strategic potential of joint ventures and the advantages they can provide companies at all stages of market entry and expansion.