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Doing Business in India 2018

Doing Business in India serves as a guide to India’s business, regulatory and tax environment. It seeks to provide the reader with knowledge of the critical regulations and changes in the country. We hope you find this information useful and helps you understand the dynamic business environment of India.

Indian Dairy Industry

India has seen a substantial increase in the per capita income and growth in disposable income has significantly improved the purchasing power over the past decade. Rapid urbanization has led to a major increase in the demand for packaged/processed foods, favorably impacting the dairy industry in the country. In the era of digitization and increased access to actionable information, the Indian populace is becoming health and product quality conscious, which has led to the improved variety of food products available in the country. The ever-increasing demand for value-added milk products has also increased the demand for milk production.

Withholding Tax - Contentious Issues

Withholding tax is one of the most significant sources of collecting Income Tax under the Indian Income Tax regime. Under the Income Tax Act, 1961 (the Act), responsibility is cast upon the payer to withhold tax on various domestic as well as foreign payments at the source. Over the years, these provisions have assumed great significance and it has shored-up the tax collections of the Indian government.

However, interpretational issues and different views between the taxpayer and the tax authorities in some of these provisions have raked up substantial litigation, especially in the last few years.

This article covers some of the controversial issues surrounding some of the withholding tax provisions.

Electronics Industry in India

The Indian government has recently realised the potential of the electronics industry in terms of its importance to GDP growth and providing employment. This report covers the key aspects of the electronics industry within the country.

GST registration, enrolment and migration process

A majority of the present Indirect Tax (IDT) levies in India are expected to be subsumed by the Goods and Services Tax (GST). This paradigm shift in indirect taxation is currently underway and the final GST Law is expected to be enforced from 1 July 2017. As part of this change, all assessees (i.e. individuals already registered under the present IDT Laws) or those who are liable to register as per the Model GST Law under the public domain, are required obtain registration under the GST regime.

Valuation under Ind AS

India, in line with its commitment to the G-20, has chosen the path of convergence with the International Financial Reporting Standards (IFRS) in the form of Indian Accounting Standards (Ind AS). The consolidated impact of this convergence will result in significant differences in preparation and presentation of the financial statements, paving the way for added transparency, enriched quality and
enhanced global comparability of financial statements. Adoption of Ind AS will lead to a significant increase in the focus on fair value
accounting, since they are based on the principle of Fair Value Measurement (FVM), distinguishing it from the erstwhile Indian GAAP.

Investment Chronicle: January - December 2016

We are pleased to present the second annual edition of SKP Investment Chronicle – our publication that focuses on the deal-making landscape in India, comprising of mergers and acquisitions (M&A), equity investments and exits.

Medical Device Monitor - March 2017

Medical Device Monitor - March 2017

Corporate Compliance Insights

India was ranked 40th in the latest Corruptions Perceptions Index report by Transparency International. It appears that the recent reforms and regulatory actions did not have an impact on the perceptions influencing India’s CPI rankings. With Indian corporations looking to acquire a larger share of global markets, establishing global transparency and governance has become imperative. Indian firms are being recognised for transparency by organisations like Transparency International, indicating that they are moving in that direction. With this context, this article examines the possible pros and cons for Indian businesses to consider the recent management systems by the International Organisation for Standardisation (ISO) on anti-bribery and compliance management for compliance.

ACFE Insights

8 Underrated Critical Types of Evidence in Email Reviews
In the current electronic age, e-discovery is considered one of the key approaches for gathering evidence in litigation and investigations into misconduct. With new tools being created to help uncover and understand electronic data, the industry is evolving to new heights. When there is a large amount of data to review, the process requires a purpose-led approach to ensure the evidence is compiled objectively and accurately.