Page 4 - Ease Of Doing Business

How plethora of GST notices are spoiling the ease of doing business

While there are issues relating to mismatch in input and output returns, input tax credit availed of on exempted items, there are broader legal interpretational issues in GST notices as well

Govt working on 1st ever 'cost of regulation' study for states: DPIIT secy

DPIIT has created a dataset to let the States know how some of the areas may be affecting them in terms of their 'business-friendly reputation'

5 best e-commerce business ideas in India to sell your products

e-Commerce business is not as tough to set up as it looks, there are plenty of e-commerce business ideas to explore in this world. Here are the 5 best e-commerce business ideas in India

Mines min achieves 100% target for easing rules, legitimises 27 provisions

The mines ministry on Tuesday said it has decriminalised 27 provisions through amendments in the Atomic Mineral Concession Rules, 2016 and achieved 100 per cent target of easing of rules. The rules were decriminalised as part of a campaign to reduce compliance burden and ensure ease of doing business. "The special campaign 3.0 commenced from October 2, 2023 and the ministry of mines has attained 100 per cent of the target set for easing of procedure by decriminalising 27 rules through the amendment of Atomic Mineral Concession Rules, 2016," the mines ministry said in a statement. Under the campaign, the mines ministry has set the targets of addressing all pending matters and improving work place experience in all its offices. During the first week, the ministry said it resolved 95.45 per cent of the pending public grievances and completed 52 per cent of the task related to records management. Moreover, the mines ministry attained 43 per cent of the target for removing physical fil

Bombay HC slams Centre's ease of doing biz, says mindful of cases' pendency

The Bombay High Court recently took a dig at the Central government's "ease of doing business", and said while it was mindful of the pendency of cases in courts, it was the government that was by far the largest litigant and the one that most often sought adjournments. A division bench of Justices Gautam Patel and Kamal Khata, which was on October 5 hearing a petition filed by one Ramkali Gupta in 2016 over property-related issues, said it was no stranger to repeated assertions from the Union government regarding the pendency of cases and impediments allegedly caused by the courts. The bench in its order said it was shocked to note that Gupta's petition has been pending for seven years and that since June this year, the plea has been adjourned at the request of the Union government so that the additional solicitor general could appear. We are equally mindful, and we are constrained to say this, that we are no strangers to repeated assertions from the Union government itself regardin

G20 presidency provided chance to showcase development undertaken: Goyal

He also underlined the Government's commitment to improving the ease of doing business in India, making it easier to start and run businesses

10 best manufacturing business ideas under 10 lakhs, check full list below

Starting a manufacturing business is not as tough as it looks, one can start a profitable business with low investment. Here are the 10 best manufacturing business ideas under 10 lakhs

DPIIT undertaking exercise to measure cost of regulations in states

The Department for Promotion of Industry and Internal Trade (DPIIT) is undertaking an exercise to assess the cost of regulations in states with a view to improving further the ease of doing business, an official said. Through this, the official said, states will get an insight into reforms which they can bring to improve the business climate for industry. For this, DPIIT officials held a meeting in June with all selected survey agencies for assessing the cost of regulation. The session was scheduled to provide orientation/brief to the overall project coordinator/key persons from all regions. Citing examples, the official said seeking a number of papers and delays in giving approvals or clearances cost to the industry. "The exercise is aimed at reducing this cost," the official added. The department is taking a series of measures to reduce the compliance burden of the industry and improve the ease of doing business. It has removed or simplified thousands of obsolete provisions and

DPIIT to help states simplify provisions to facilitate ease of business

The Centre will help states in simplification, rationalisation or decriminalisation of provisions with a view to promoting ease of doing business and living in the country, a top government official said on Thursday. Secretary in the Department for Promotion of Industry and Internal Trade (DPIIT) Rajesh Kumar Singh said that Parliament passed a bill which seeks to promote ease of business by decriminalising minor offences through amendments in 183 provisions of 42 Acts. "We will do this in the future as well...We intend to follow with an inter-ministerial working group which will look at other provisions where further simplification, rationalisation or decriminalisation is possible and we are intending to do the same exercise at the state level by providing guidance to the states as well," he told reporters here. He said that there will be many more rounds of this exercise with the overall objective of promoting ease of doing business and ease of living. The Jan Vishwas (Amendment

Parliament passes Jan Vishwas Bill to promote ease of doing business

Parliament on Wednesday passed a bill which seeks to promote ease of business by decriminalising minor offences through amendments in 183 provisions of 42 Acts. The Jan Vishwas (Amendment of Provisions) Bill, 2023 was passed by Rajya Sabha by a voice vote. Lok Sabha had cleared the legislation on July 27. Minister of Commerce and Industry Piyush Goyal said the bill will promote the ease of doing business by decriminalising a number of provisions. The bill converts several fines to penalties, meaning that court prosecution is not necessary to administer punishments. It also removes imprisonment as a punishment for many offences. The bill also seeks to remove all offences under the Post Office Act, 1898.

Japan's minister Hayashi pitches for improvement in India's biz environment

Japan's Foreign Minister Yoshimasa Hayashi has pitched for improvement in the investment environment for Japanese firms operating in India with many of them seeking a more predictable, transparent and stable business climate in the country. A Japanese readout said Hayashi requested External Affairs Minister S Jaishankar for cooperation on improving the investment environment and for the early establishment of a joint crediting mechanism, during their talks on Thursday. Separately, deputy press secretary in Japan's foreign ministry Yukiko Okano said Hayashi met over lunch on Friday representatives of Japan Chamber of Commerce and Industry in India (JCCII) and officials of several Japanese companies operating in the country, and they apprised him about the issues. The Japanese foreign minister began his two-day visit to India on Thursday. "The view from the Japanese businesspeople here is that they would like to see a more predictable, transparent and stable business environment in .

Govt sets up working group to decriminalise legislations for ease of biz

Commerce and Industry Minister Piyush Goyal on Thursday informed the Lok Sabha that the government has set up a working group to decriminalise laws to further promote ease of doing business. Replying to a debate on the Jan Vishwas (Amendment of Provisions) Bill, 2023, he said the group will look at areas, where more decriminalisation of provisions is required. He said that the group comprised representatives from industry associations, business chambers, legal professionals, legal experts and officials of seven ministries. Besides, it would also have representatives of the National Housing Bank (NHB), National Bank of Agriculture and Rural Development and Central Pollution Control Board. The Bill was later passed in the Lok Sabha through a voice vote as Opposition members protested and raised slogans on the Manipur issue. The Bill seeks to amend 183 provisions across 42 Acts administered by 19 ministries to reduce the compliance burden on individuals and businesses. Goyal said th

Mixed results

GST appellate tribunal will improve ease of doing business

Sebi's new FPI disclosure norms could pose roadblock for compliances

The recent proposal by Sebi to make disclosure norms more stringent for Foreign Portfolio Investments (FPIs) has reignited the discussion on Indias stand on promulgating ease of doing business

Ease of doing business improved; still long way to go in many areas: CII

The ease of doing business in the country has improved in the last 5 to 10 years but there is a long way to go in many areas, the Confederation of Indian industry (CII) said on Friday. Addressing the media after a meeting of its members from the four western states of Maharashtra, Gujarat, Madhya Pradesh and Goa, CII Western Region Chairman and Tata Power MD and CEO Praveer Sinha said the industry feels there is a lot of growth happening and there is a lot of opportunity in the country. In a poll of CEOs conducted by it, 76 per cent of the respondents were of the view that the Indian economy is expected to remain resilient in the backdrop of global geo-political headwinds. "The ease of doing business has improved but if you ask me if it is 100 per cent, it is not 100 per cent. It is still some 55-60 per cent. That means there are opportunities of improvement," Sinha said. He said that though the ease of doing business is better than it was 5 or 10 years back, "it is still a long wa

Changes in anti-money laundering law can impact foreign investment: CAs

Chartered accountants are seeking clarifications on the finance ministry's recent notification on extending the ambit of anti-money laundering law as it can adversely impact ease of doing business and facilitation of foreign investments. According to industry sources, chartered accountants (CAs) and company secretaries often act as formation agents for foreign companies setting up businesses in India and often provide their own address for communication in the initial phase. They also act as resident directors of the foreign company trying to establish presence in the country and also operate bank accounts on behalf of their clients. Industry sources said there is no way that an accountant can know whether the money that an investor is bringing into India is bonafide or laundered money and verify its source. In view of the pending review by the global watchdog on terror financing and money laundering scheduled later this year, the finance ministry has in recent months tightened and

Under construction

Project delays must be avoided

Economic, demographic base driving interest in doing business: Report

When Tim Cook arrived in India earlier this month to open Apple's first physical store in the country, he was welcomed like a hero, media reports said

Defence Ministry initiates reforms to further promote ease of doing biz

Under the existing procedure, certain bottlenecks were experienced by the industry to bring timely improvements in their products and technologies in line with changing times

Why is India catching up to Singapore as top business environment

The improvement is mostly attributable to gains in its scores for foreign trade and exchange controls, infrastructure, and technological readiness