Post - FIPB to frame procedure For FDI Approval

The Reserve Bank is expected to formulate standard operating procedure (SOP) for approval of FDI proposals by ministries following the government decision to phase out FIPB.
The proposal for setting up norms for foreign direct investment (FDI) approvals in sensitive sectors, which are currently under government approval of the FDI policy, was discussed at a recent inter-ministerial meeting in apply for gst online .
According to sources, several options came up for discussions at the meeting. In order to further improve ease of doing business, the government has decided to abolish Foreign Investment Promotion Board and form a new mechanism for expeditious clearance of foreign investment proposals in new gst registration.
Once the FIPB is abolished, the onus of approving FDI proposals would be on the ministries and regulatory authorities concerned. The inter-ministerial committee has also discussed the possibility of approving the FDI proposals along with of licences, sources said.

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Concerns For Expatriates Working in India

For a foreign national coming to India On employment/business purpose, here are the relevant guidelines.
Q.1. What are the requirements for an expat coming to India on employment or business purpose ?

Ans. The first requirement for an expat is to apply for work permit, i.e, employment visa (E – visa) or business visa.An employment visa will be granted to a foreign national if his or her salary exceeds US$25,000 per annum. The salary threshold of US$25,000, however, does not apply to ethnic cooks, language Payroll outosurcing
teachers (other than English teachers), translators and staff working for the concerned embassy or the High Commission in India.
It is initially valid for one year, which can subsequently be extended at the local FRRO office.Unlike employment visas, business visa applicants usually work on behalf of a foreign company for a limited time and won’t be working for a local employer. The business visa is for entrepreneurs or
investors wishing to set up a business, purchase or sell industrial products, or establish business ties with a company in India Payroll services.

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GST Final Draft To Retain Clause On Services Sector

The goods and services tax (GST) council is likely to retain a clause in the law that will require service providers to register in every state where they operate, despite recent representations from various Union ministries and telcos, banks, and insurance firms for a single registration system in chartered accountants firm.
At present, service providers benefit from a single centralized registration system for paying service tax—a tax levied and collected by the Union government.
However, under the GST regime, even states will get the powers to collect tax on services and the service providers will have to register in every state where they have operations in direct foreign investment in India.
As per the provisions of draft GST laws that will be finalized in the 11th meeting of the GST council on 4, and 5 March, service providers operating across India will have to obtain more than 30 separate registrations. Companies have highlighted the procedural hassles of such a move but states, concerned about their revenue, are not willing to agree to a centralized registration.

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GSTN Registrations Set open for Ecommerce Vendors

Ecommerce companies such as Amazon, Flipkart and Swiggy concerned about losing business after the rollout of the goods and services tax (GST) on July 1 shouldn’t have to worry about being forced to exclude products sold by unregistered vendors in company formations services.
GST, which the government intends to roll out from July 1, 2017, will subsume central excise, service tax and state VAT among other indirect levies on manufactured goods and services. The Central GST (CGST) bill -- one of the four legislations introduced, company incorporation in India states that any lease, tenancy, easement, licence to occupy land will be considered as supply of service. Also, any lease or letting out of the building, including a commercial, industrial or residential complex for business or commerce, either wholly or partly, is a supply of services as per the CGST bill.
“Registration for first-time taxpayers will open.
All vendors on ecommerce platforms have to be registered on the GST Network.

That’s because online market platforms have to mandatorily collect tax on any payment they make to a supplier in business registration in Gurgaon. 

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Land Leasing, Renting To Attract GST From July 1

Come July 1 and leasing of land, renting of buildings as well as EMIs paid for purchase of under-construction houses will start attracting the Goods and Services Tax.Sale of land and buildings will be however out of the purview of GST, the new indirect tax regime. Such transactions will continue to attract the stamp duty, according to the legislations Finance Minister Arun Jaitley introduced in the Lok Sabha yesterday for approval.Electricity has also been kept out of the GST ambit in pvt ltd company registration in Delhi.

GST, which the government intends to roll out from July 1, 2017, will subsume central excise, service tax and state VAT among other indirect levies on manufactured goods and services. The Central GST (CGST) bill -- one of the four legislations introduced, company incorporation in India states that any lease, tenancy, easement, licence to occupy land will be considered as supply of service. Also, any lease or letting out of the building, including a commercial, industrial or residential complex for business or commerce, either wholly or partly, is a supply of services as per the CGST bill.

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Luxurious and Contemporary Interior Designer In India

Designing your home, corporate offices, spas, hotels or any commercial entity to bring out its true colours is as essential as its investment. A well sophisticated and trendy design of a corporate office, hotel, or spas reflects the brand value of the entity. Similarly, a contemporary and aesthetical design of a house reveals the life style quotient. To achieve luxurious and contemporary designs, all possible and minute details from floor to ceiling are considered by designers.

Interior designers in Delhi, India have the unique eye and expertise to see all these elements at once and make a beautiful room come together with ease. By utilizing a few home décor tricks, you can create a room to be proud of. Here are a few home decorator secrets to the latest styles.

Signature style

The designs should bear a unique seal of an architect. By adapting a unique method of designing, a designer should be able to establish a name among clientele for their style of working. The work will be later represented as a signature style of the designers or architects. Having worked for many luxury project, SP&A‘s signature style is well-known among their high-end clientele.

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Govt Cracks The Whip On Shell Companies

After trying to tighten the rules against shell companies through its Budget proposals, the government has decided to follow with “harsh punitive” action that will include freezing of bank accounts and striking off the names of dormant companies.Their investments in real estate could also come under the scanner, as the government has also decided to invoke the Benami Transactions (Prohibition) Amendment Act. A meeting was held in the Prime Minister’s Office with senior officers of various departments on Friday to review the functioning of companies which do not conduct any operations and do money laundering in India, went an official statement. The regulatory ministry concerned will ensure disciplinary action is initiated against professionals abetting such malpractices and operations in chartered accountant firms in Mumbai.
The basic approach is to prevent money laundering and tax evasion in foreign company registration in India. The government will use technology to identify shell companies. A database on these companies and their directors would be built by pulling information from various agencies. In the Budget for 2017-18, the government has proposed to impose a 10 per cent long-term capital gains tax on those who have invested in unlisted stocks but not paid the securities transaction tax after 2004.

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What is Payroll Outsourcing

Payroll outsourcing which involves employing an outside agency to do the routine work of managing salary, its calculation and payment, along with any other related functions, has transformed into an extremely successful industry. India is today one of the major destinations for payroll outsourcing.
Some of the reasons for this are:

• Team is headed by group of Chartered Accountants which means all the statutory laws are taken care.
• Cost savings for the company on outsourcing payroll processing are extremely significant and can go upto 50% at times.
• Reductions and cost effectiveness can be achieved.
• Productivity is improved, as service quality provided is excellent and this frees the company from non-income generating tasks.
• Latest technology and software for payroll processing are used.
• Indian payroll processing service providers have a very highly specialized and expansive knowledge base in finance and accounting which would be of help to businesses globally.
• These service providers are fluent in English and extremely competent and efficient.
• Where India and the USA are concerned, the time difference is also favourable, thus work completion is faster.

Payroll outsourcing has been highly productive for companies and has been functioning since 1997. In the past five years this industry has recorded a CAGR of 15 per cent. In short, it is a win-win situation.