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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. 

TaxIndiaOnline

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

India moves closer to Goods and Services Tax
The long-awaited tax reform aimed at boosting economic growth and making India an easier place to do business looks set to become a reality.

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

India’s new Modi Government attempts to unshackle economic growth
India’s newly-elected Prime Minister, Narendra Modi, is acutely aware of the high expectations placed on his government by the Indian electorate as well as the international community – to place India back on a trajectory of high economic growth.

Nexia Global Insight July 2014

Can the newly elected Indian Government walk the talk?
The Modi Government attempts to unshackle India’s economic growth.

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

The introduction of goods and services tax in India – recent developments
In this article, we discuss the upcoming GST reform in India, the issues delaying its implementation, and the progress made despite these hurdles.

SKP Group Profile (Japanese)

SKP's Group Profile in Japanese