Keeping this in mind a new taxation system known as Goods and Services Tax (GST) was introduced in India, in order to remove the previous tax system which misses lead things and slower the economic growth. Due to the new introduction of the taxation system, many sectors of business were ...
MUMBAI, Jun 3 (Xinhua) -- Indian companies are seeking a cut in corporate income tax to 25 percent from the prevailing 30 percent in the forthcoming union budget schedule on July 5 by the new government, said a release by industry body -- Confederation of Indian Industry (CII), Monday. ...
Correction: This article has been updated to reflect Reuters’ correction on the new effective tax rate for Indian companies.
Companies:Create an entry for the Goods and Services Taxpayer Identification Number (GSTIN) for every company, and specify casual registration periods. Vendors:Define state GST type registration numbers for vendors. Customers:Define state GST type registration numbers for customers. ...
250 million and headquartered in India. Meaning of Startup in India An organization will be considered as Startup, if it is incorporated in India as private limited company (defined in the Companies Act, 2013) or registered as partnership corporation (registered u/s 59 of the Partnership Act...
India’s taxation system is perceived to be the most complex globally. With the direct taxation laws in India constantly amending to reflect the changes in the economy and policy of the government, handling tax function in most companies can be challenging. There are number of additional restricti...
Value-added tax (VAT) in Indonesia is imposed on the provision of services or the transfer of taxable goods. Businesses are required to register for VAT once they reach an annual revenue of 4.8 billion rupiah (US$321,677). However, companies earning lower annual revenue can register voluntaril...
When the vehicle is less than 15 years old however it has been utilised for at least 8 years then the government shall levy a 10% to 25% green tax and renew the fitness certificate. Two policies can complicate vehicle ownership for companies: either your vehicle faces scrapping or you’ll...
Amendment in the Companies Act, 2013 to ensure a better startup ecosystem and tackle the registrations in a hassle-free manner Online courses for educating the masses for Entrepreneurship education and encourage people to participate willingly With such tax exemptions for Startup India, the Government...
, and the provisions of relevant double taxation avoidance agreements. India’s tax system clearly demarcates authority between central and state governments and local bodies, and the central and state governments provide various tax incentives for foreign investors that establish companies in India....