India enjoys a trade surplus of around 8 billion USD (India exports to Bangladesh of over 9 Billion ISD, India imports from Bangladesh less than 1 billion USD). To compensate Bangladesh for Trade Surplus, India has offered duty-free and quota free entry to Bangladesh goods under the (South Asian Free Trade Area) SAFTA agreement in…
The general perception is that there are no inheritance taxes or estate duties or death taxes in India. The Estate Duty Act, 1953 was abolished (technically suspended, not repealed) in 1985 meaning that there is no estate tax at the central government level. However, the perception that there are no inheritance taxes in India is…
1. Trumps 15% Corporate Tax proposal will make US – the next tax haven in reckoning. It is also likely to be a great opportunity for US Companies that have stashed money in overseas tax havens to remit them back to USA at lower tax rates – bringing down US current account deficit and bulging…
Consider the following scenario under GST. A registered dealer and an unregistered dealer sell the same goods as follows: Seller Registered Dealer (X) Unregistered Dealer (Y) Value of Goods 100 105 GST @ 12% 12 NIL Total 112 105 The question is whom should a buyer (A) Registered Dealer and (B) Unregistered Dealer purchase from?…
In India, various quarters, as diverse as an NGO Arthakranti with a rather radical tax proposal, a yoga guru turned FMCG Entrepreneur Baba Ramdev to political leaders such as Andhra CM N Chandrababu Naidu have raised the demand to abolish / recall & withdrawal of high denomination currency notes such as INR 1000 and INR…
