The Defence Sector in India: Strategic Context and Scope for Foreign Companies
India has the third largest armed forces in the world (approximately 1.2 million strong), with a defence budget of USD 40 billion for financial year 2015-16. A substantial amount of this budget is spent on capital acquisition. At current estimates, India will seek to procure at least USD 50 billion worth of equipment, parts and services over the next 10 years, making it one of the largest importers of conventional defence items globally. This presents a significant opportunity for foreign defence companies to supply to the lucrative Indian market. In this update, we look at the regulatory framework for investing in the defence sector in India.
An Insight into Corporate Social Responsibility Rules in India
India is reportedly the first country in the world to introduce statutory guidelines in the Companies Act, 2013 requiring certain companies to undertake CSR activities. Our note aims to provide an insight into the regulations governing CSR activities in India, issues clarified by the Ministry of Corporate Affairs and the benefits of integrating CSR activities into your business strategy.
GST - Silver Lining the Budget 2015
The Big Bang Budget has finally sealed and confirmed the advent of the much awaited Goods and Services Tax (GST) in India. The Budget has paid heed to the industry demand by reiterating the government's commitment of implementing GST in India. This article highlights the important announcements regarding GST in the Economic Survey 2014-15, the Union Budget 2015-16 and the prospective way forward.
Nexia Global Insight January 2015
Nexia Global Insight October 2014
Make in India campaign launched
India’s Modi Government has announced a historic programme to facilitate inward investments and build the country's manufacturing infrastructure.
Financier Worldwide October 2014
Nexia Global Insight July 2014
Taxsutra: Indirect Taxation Expert Column
‘Importer’ and/ or ‘First Stage Dealer’ – A case of multiple personality disorder?
Recently, CBEC issued various Notifications mandating separate excise registration by 'importers' seeking to pass on CVD and SAD credit, and filing of quarterly returns. Pratik Shah, Partner, and Jigar Doshi, Senior Manager, analyse the implications of such amendment and point out this would substantially increase the compliances for an assessee. The authors believe that there is no rationale to require an assessee to obtain separate registrations (as an ‘importer’ and ‘dealer’) as even without the same, the assessee can provide details of both imported as well as domestic goods in the Excise Returns.
Nexia Global Indirect Taxes May 2014
SKP Group Profile (Japanese)
SKP's Group Profile in Japanese