Ease Of Doing Business
Latest news, explainers and analysis on Ease Of Doing Business. Tracking 7 stories on Arth Vani.
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Latest on Ease Of Doing Business
CII Urges GST-Style Reforms for Land, Labour, & Local Approvals to Boost Investment
The Confederation of Indian Industry (CII) has called for extending the successful approach of the GST Council, including decriminalising minor offences, to key sectors like land, labour, and construction. This move aims to significantly enhance India's ease of doing business and attract greater domestic and foreign investments. The proposed reforms seek to simplify complex regulatory processes across all levels of government.
BreakingCBIC Simplifies GST Registration: Udyam Proof Dropped, 7-Day Approval Limit Set
The Central Board of Indirect Taxes and Customs (CBIC) has made Goods and Services Tax (GST) registration significantly easier for businesses in India. Applicants no longer need to submit Udyam proof, and all GST registration applications will now be approved within a strict seven-day limit, streamlining the process for new and existing enterprises.
Government to Soon Seek Public Feedback on GST Return Processes
The Indian government plans to soon gather feedback on the Goods and Services Tax (GST) return processes. This initiative aims to streamline and simplify the tax compliance experience for businesses and taxpayers across the country. Specific details regarding how and when this feedback will be sought are yet to be officially announced.
Tamil Nadu Adopts New GST Checks to Ease Goods Movement and Boost Trade
Tamil Nadu has introduced new Goods and Services Tax (GST) checks aimed at simplifying and streamlining the movement of goods within the state. This initiative is expected to reduce logistical hurdles for businesses and improve supply chain efficiency, benefiting both traders and consumers.
GST Rejig Signals Early Diwali for Industry: Credit Relief, Export Boost Ahead
Recent adjustments to the Goods and Services Tax (GST) framework are being hailed as an "early Diwali" for Indian industry, according to an expert from EY. These changes promise credit relief, a boost for exports, and simpler operational rules, fostering a positive environment for businesses.
Government Plans to Ease Forex Rules for SEZ Service Exports to Domestic Market
The Indian government plans to remove the mandatory foreign exchange payment requirement for services supplied from Special Economic Zones (SEZs) to the Domestic Tariff Area (DTA). Currently, SEZ units must receive payment in foreign currency for services sold domestically, unlike goods.
GST Panel May Allow Tax Credit Transfer within Corporate Groups; Intra-Group Guarantees Could See Exemption
A key GST panel is reviewing significant industry suggestions, including allowing companies within the same corporate group to transfer unused input tax credit and exempting intra-group corporate guarantees from tax. These proposals, aimed at boosting ease of doing business and improving corporate cash flow, will be put before the GST Council for its next meeting.
Tax figures shown are indicative estimates for education only and depend on your specific situation. Consult a qualified tax professional or the Income-Tax Department before acting.