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Union Budget 2024-25 Analysis

Vote on Account Union Budget 2024 budget is pivotal, aiming to stimulate economic growth, enhance infrastructure development, and ensure inclusive welfare for all sectors of society. The government’s strategies and allocations in the Budget 2024 reflect its priorities towards building a resilient economy and achieving inclusive development. We have deep-dived into the amendments made in […]

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RoDTEP Scheme extended till 30th June 2024

The government announced the RoDTEP Scheme as a duty remission initiative for exports, effective from 1 January 2021. This scheme offers a systematic procedure for reimbursing taxes, duties, and levies that aren’t presently refunded under any alternative provisions. These costs, stemming from the central, state, and local tiers, are borne by exporters during the manufacture […]

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Import of Laptops, Tablets, Computers & USFF Restricted – What your options?

DGFT vide Notification No. 23/2023 dated 3rd August 2023 has amended the import policy of Laptops, Tablets, All-in-one Personal Computers, and Ultra Small Form Factor Computers and Servers (HSN 8471) to ‘RESTRICTED CATEGORY’ with effect from 1st November 2023. Therefore, pursuant to the policy, a restricted license from DGFT (Exim facilitation Committee) is required before importing […]

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Use of International Credit Card outside India under the ambit of LRS

On 16th May 2023, Department of Economic Affairs, Ministry of Finance issued a notification making an amendment to the Foreign Exchange Management (Current Account Transactions) Rules, 2000. The notification omitted Rule 7 of the Foreign Exchange Management (Current Account Transactions) Rules, 2000. Rule 7 of the Rules provided exemption on the use of International Credit […]

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Round Tripping Provisions under new ODI Rules in India

Round-tripping means a combination of transactions involving transfer of money across jurisdictions, eventually resulting in a return to the jurisdiction of origin. Simply, for example, an Indian entity sets up a subsidiary outside in the USA and that company uses these proceeds to invest back in India. RBI considers such transactions from suspicion of being […]

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The Essential Guide to E-Waste Management in India – for Manufacturer and business

The Govt. has notified E-waste Management Rules,2022, which shall come into force from the 1st day of April, 2023 .These rules shall apply to every manufacturer, producer, refurbisher, dismantler and recycler involved in manufacture, sale, transfer, purchase, refurbishing, dismantling, recycling and processing of e -waste or electrical and electronic equipment (EEE) listed in Schedule I […]

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Investment in India by NRIs under Repatriable/Non-Repatriable basis

The matter of contention for the Non-Resident Indians (NRI) is whether the investment undertaken by them in India is under repatriation or non-repatriation basis i.e. whether the NRI will be able to transfer the funds received on selling the investment from his Indian account to his account in the country of residence. This article will […]

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Non-Resident Individual – Taxable Income in India

Non Resident Indians (NRIs) has played a significant role in the empowering of our nation either through foreign remittance, technology transfer, investment, development, etc. With the objective of promoting them,  the Government ensures to simplify and liberalize the taxation regime for NRIs and announces amendments each year during the Budget amendments for the benefit of […]

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Import / Export of Hazardous and Other Wastes – Management of hazardous waste in India

Hazardous wastes are often disposed directly into the environment posing health and environment risk. Control of dumping is thus key issue for any Government while designing and implementing regulations. To reduce the movement of hazardous wastes between the nations specially to prevent transfer of hazardous waste from developed countries to less developed countries, an International […]

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