The Goods and Services Tax (GST) Council, in its meeting chaired by the Federal Minister for Finance & Corporate Affairs, Arun Jaitley has approved both the drafts of the Central GST Bill and the Integrated GST Bill that were vetted by the Federal Law Ministry. India's Federal Government presented the two...
India Enters Last Mile of GST Reform
On November 3 and 4th, 2016, the federal government and that of the various Indian states discussed the rate structure for the Goods and Services Act, popularly known as GST, and signed off on a multi-tiered tax system. Addressing a press conference, India's finance minister Arun Jaitley said that the...
Apple Tries to Sell Used Phones in India
CNBC reports that Apple's application to sell refurbished iPhones — aimed at boosting sales in India and countering a slowdown of its sales in China — has yet to be approved, as India typically requires single-brand retailers to source at least 30 percent of their raw material needs from local...
India’s Parliamentary Panel Approves Overhauling Bankruptcy Regulations
Taking a key reform measure to improve ease of doing business, a parliamentary panel in India approved a bill to update outdated bankruptcy regulations. The panel proposed that the Insolvency and Bankruptcy Code should include laws to seize overseas assets of defaulting companies and individuals. The legislation, which will make it...
India’s Central Registration Centre to Register Companies in 1 Day
In a significant step towards improving the ease of doing business, the Corporate Affairs Ministry will soon centralize the whole process related to registering a new company and strive to complete the processing within a day, reports moneycontrol. The World Bank currently estimates that it takes 29 (working) days in...
UK-India Business Leader Says Doing Business in India Has Become Easier
The Times of India interviewed Patricia Hewitt, Chair, U.K. India Business Council, the business-led organization that works with the British government to promote bilateral trade between the U.K. and India. She said in the interview that “the election of the Narendra Modi government, with a decisive mandate for growth and...