The Organisation for Economic Co-operation and Development (OECD) commenced work on the Base Erosion and Profit Shifting (BEPS) project to address concerns that existing principles of domestic and international taxation were failing to keep pace with the global nature of modern business models. As a member of the G20 and an active participant in the … More Master file notification: Expectations, impact and risk areas for MNCs
Gaurav Karnik, Tax Partner and Leader – Real Estate practice, EY India It is that time of the year when the entire industry looks forward to the Finance Minister Arun Jaitely’s speech on Budget Day to provide much needed relief and growth impetus in various sectors. The real estate sector is no different, given the … More What Budget 2017 may look like for the real estate sector
B Sriram, Tax Partner, EY India This Budget will be presented against the backdrop of two key events: demonetization and the implementation of the Goods and Services Tax Act. First and foremost, the most eagerly watched expectation would be the roadmap for GST implementation. Pursuant to the recently concluded GST Council meeting, the FM has … More Union Budget 2017: considerations for indirect tax proposals
We at EY Tax wish all our Blog followers a great new year. The year 2016 begins with a positive vibe with much anticipated tax developments to be introduced in the upcoming Budget with an aim to ease doing business in India. Government in 2015 clearly indicated that its focus was on increasing global participation … More Tax developments – Top trends of 2015
The existing Indirect tax framework in India extends to the financial services (FS) sector. Since 2001, service tax has been made applicable on these services. The scope of the levy has been broadened over a period of time. Currently, all fee-based income is liable to tax. Interest, however, is excluded from the levy.
The Indian economy has reported rapid growth in the last two decades, transforming from primarily an agrarian economy to a services-driven one. However, despite the super-normal growth, India’s manufacturing sector contributes 16% to the GDP; as compared to China’s 34%.
The election of a Government with a majority and a more development-focussed election battle underlines the expectation which the electorate has vested in the new administration to make bolder changes to provide the economy with the much needed impetus. Equally the new Government has put healthcare sector as a high priority thrust area and has … More Life Science industry: Hope the FM would address the key issues through the maiden Budget