India has been working hard to make its tax system simpler and more organized for foreign business owners to understand. This helps businesses to know what to expect and makes things fair for everyone. Because of these efforts, doing business in India has become much easier and more manageable.
Whether you're striving to stay compliant with the ever-evolving regulations, aiming to stay updated with the latest changes, or simply seeking a clearer understanding of how taxes work, your search ends here. We present to you a carefully curated collection of indispensable resources that delve into the heart of the Indian taxation landscape.
Income Tax - In India Direct Taxation is governed under Income Tax Act, 1961. Every earning individual and Non-Individual has to comply with Income Tax Requirements and file an ITR disclosing total income earned at every year's end. India is following the April to March Financial Cycle. For more detail visit www.incometax.gov.in or reach out to us.
GST - A Goods and Service Tax levied on the Supply of every goods or services. In India, GST has four rates 5%, 12%, 18% and 28% based on the HSN code of the product/service. Central Govt, State Govt. and Union Territories have different Acts for levying GST. For more detail visit www.gst.gov.in or reach out to us.
Customs - As per Customs Act, 1962. Every import of Goods must get a Custom Clearance Certificate and has to pay necessary duties before the release of goods. Visit www.cbic.gov.in or reach out to us.
The Ministry of Corporate Affairs is the authority that governs the incorporation procedure in case of the legal existence of an Organization in India.
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Every company has to comply with MCA rules and regulations. For more detail visit www.mca.gov.in or reach out to us.
Micro, Small and Medium Enterprises are those establishments where the Annual turnover is below Rs. 250 crores. These units are governed by the Ministry of MSME. The government of India has come up with lots of subsidy schemes to encourage the business under the MSME sector. To know the details please visit www.msme.gov.in or reach out to us.
Directorate General of Foreign Trade organization is responsible for formulating and implementing the Foreign Trade Policy. Every organization involved in Export has to comply with DGFT rules. Please visit www.dgft.gov.in Also it is very important for those organizations who are involved in foreign currency transactions they must have to comply with FEMA Act,1999 and FERA Act,1987 Please visit www.rbi.org.in
Here we've assembled official tax links for five major nations. These resources shed light on global taxation, enhancing your understanding of international financial norms.
Feel free to browse through this collection for a clearer insight into international tax dynamics
