- 05/27/2019 at 5:54 pm #1005919EduGorillaKeymasterSelect Question Language :
The year 2017 saw major developments in the Retail & Consumer sector, with the opening up of various retail segments for inflow of FDI. Up to 51% FDI has been allowed in multi-brand retail and 100% FDI in single-brand retail, with reforms effected in the sourcing segment. The Government has also allowed 100% FDI for development of seeds and in the Textile and Jewellery sectors under the automatic route. A momentous step taken by it was implementation of the GST as a single unified tax system. The GST has led to a substantial increase in organised retail by bringing in significant transparency in the sector and re-ordering of the hierarchy of traders and suppliers. The model Shops & Establishment Act, which allows stores to be opened around the clock, was also passed during the year and has been adopted by several states. Furthermore, the growth and liberalisation of organised retail has greatly increased the attractiveness of the Indian market for global players.
Corporate income tax rate for companies whose turnover is upto INR 250 Cr is reduced to …?
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