Priya Kapasi Shah’s Post

𝐄𝐱𝐜𝐢𝐭𝐢𝐧𝐠 𝐍𝐞𝐰𝐬 𝐟𝐨𝐫 𝐁𝐮𝐬𝐢𝐧𝐞𝐬𝐬𝐞𝐬 𝐋𝐨𝐨𝐤𝐢𝐧𝐠 𝐭𝐨 𝐒𝐞𝐭 𝐔𝐩 𝐢𝐧 𝐆𝐈𝐅𝐓 𝐈𝐅𝐒𝐂! On Monday, Hon'ble Prime Minister Shri Narendra Modi officially launched the highly anticipated IFSC Authority’s Single Window IT System (SWIT). This platform is set to revolutionize how businesses establish themselves in GIFT IFSC, making the process faster, easier, and more efficient. 𝐒𝐨, 𝐰𝐡𝐚𝐭 𝐢𝐬 𝐒𝐖𝐈𝐓? SWIT is a unified digital platform that simplifies the entire application process by bringing together key regulatory bodies like the RBI, SEBI, IRDAI, and more—all in one place. Previously, setting up in GIFT IFSC involved navigating through multiple processes with various regulatory authorities, including: > IFSCA approval > SEZ (IFSCA Administrator) approval > NOC from SEBI / RBI / IRDAI (as applicable) > GST registration Many of these steps were interdependent, leading to delays and complications. But now, SWIT streamlines everything into a single online portal, drastically improving the ease of doing business at GIFT IFSC! 𝐑𝐞𝐚𝐝𝐲 𝐭𝐨 𝐞𝐱𝐩𝐥𝐨𝐫𝐞 𝐆𝐈𝐅𝐓 𝐈𝐅𝐒𝐂 𝐟𝐨𝐫 𝐲𝐨𝐮𝐫 𝐛𝐮𝐬𝐢𝐧𝐞𝐬𝐬? Let's talk! Contact us at [email protected] for a detailed discussion. 𝐋𝐞𝐚𝐫𝐧 𝐦𝐨𝐫𝐞 𝐚𝐛𝐨𝐮𝐭 𝐒𝐖𝐈𝐓 𝐡𝐞𝐫𝐞: https://swit.ifsca.gov.in/ Jitesh Agarwal | Priya Kapasi | Gaurav Shetty #EaseOfDoingBusiness #GIFTIFSC #SWIT #Treelife #BusinessSimplified #GIFT #GIFTIFSC #IFSCA #RBI #SEBI #IRDAI

Yesterday, the Hon'ble Prime Minister launched IFSCA’s Single Window IT System (SWIT System). SWIT has been created to provide a one-stop mechanism for the applicants to obtain all approvals required for setting up business operations in IFSC and it is expected to lead to enhanced efficiency and faster turn-around time, thereby enhancing the ease of doing business in GIFT IFSC. Key features include, a) Common Application Form (used for FPIs); b) Obtaining SEZ Approvals; c) Interface with three financial regulators i.e. RBI, SEBI and IRDAI for obtaining No Objection Certificate (NoC); and d) Obtaining GST Registration. This will ensure that businesses looking to set-up in GIFT City don't have to knock multiple doors to get the requisite licenses for their business activities. In my view, this is a major step for the 'ease of doing business' and 'single window clearance' principles which the Hon'ble Prime Minister has been emphasizing on. If it goes well, this may very well lead to development of a similar system/portal in the country. #IFSCA #PMO #SEZ #primeminister

Recently, the Competition Commission of India, in Re: Ayudha Foundation v. Talk Charge Technologies Pvt. Ltd (Case No. 36 of 2023) had dismissed a complaint alleging abuse of dominant position under Section 4 of the Competition Act, 2002 filed against Talk Charge Technologies Pvt. Ltd. It was ruled that the market consisted of several service providers and there was insufficient evidence to prove the Informant's sole dependence on Talk Charge Technologies. The CCI observed that the complaint revolved around the additional fees imposed by Talk Charge Technologies without complete disclosure in the GST Bill. To analyze the allegation pertaining to such abuse of dominance, the relevant market was delineated as the "the market for digital payment platforms in India." The Commission noted that several domestic and global players operated within the market which indicated a competitive landscape and there was no sufficient evidence establishing that the Informant was solely dependent on Talk Charge Technologies. Therefore, it was concluded that due to the absence of dominance of Talk Charge Technologies in the relevant market, the complaint is devoid of any basis for investigating upon the allegations of abuse of dominant position and the complaint was thus, dismissed under Section 26(2) of the Act. [The full news could be accessed at: https://lnkd.in/d-A2Qb9y]

💳 PAN 2.0: A Digital Leap for Taxpayer Services! India has launched the PAN 2.0 Project with a financial outlay of ₹1,435 crore, introducing QR codes on PAN cards. 📌 Highlights: ✅ Free upgrades for existing PAN holders. ✅ Enhanced digital services for taxpayers. 💡 A step towards smarter and seamless financial integration. #PAN2.0 #DigitalIndia #TaxpayerServices #Innovation #QRCode

Maximising Efficiency With Dext..... Solo (Part 3) 💡 It's time to collect the records of your non-VAT-registered, unincorporated sole trader and landlord clients in real time 👊 Get ready for MTD for ITSA before legislation forces your hand 👋 Dext Solo is a stand-alone solution that we think is the best fit for the job! Previously, we covered what Dext Solo is and who it's suitable for. In this video, Paul L. & Max Whiteley ☁️ BFP ACA are explaining the various methods by which you can add transaction data on behalf of your Dext Solo clients and categorise them into HMRC set codes ready for filing! How to Add Income & Expenses 🤔 Firstly, you can use the submission methods you're used to from Dext Prepare: Snap pictures of receipts on the go using the Smartphone App 🤳 Forward receipts to your personalised Dext Email address 📧 Connect to your supplier portals using Auto-Fetch 🛒 Upload documents from your PC 🖥 You can also connect your bank account through one of our many DEXT bank feeds. From here, you'll be able to categorise all of your payments and receipts 🗃 The list of codes you can use to categorise transactions are all mapped to preset codes given by HMRC, so you can complete your tax return effortlessly! It may be necessary to split out line items in a costs or sales item, like when differentiating between business and personal expenses. Thankfully, this functionality is readily available in Dext Solo! 🚀 Want to find out more about Dext Solo and its impact on your workflows? Click the link to sign up for our webinar: https://lnkd.in/e6ckqE5Q

Public Tech Platform for Frictionless Credit Now Facilitates GST Information Sharing The Central Government has designated the "Public Tech Platform for Frictionless Credit" as the official platform for sharing GST information through the common portal, based on user consent. This move, recommended by the Council, streamlines the process and ensures secure data exchange. What is the Public Tech Platform for Frictionless Credit? Conceptualized by the Reserve Bank of India, this open-architecture platform facilitates seamless access to credit information from various sources. It connects financial service providers and data providers through standardized APIs, enabling efficient data exchange. Benefits for Businesses: - Simplified GST compliance: Businesses can now easily share GST data with the government through the platform, reducing paperwork and manual processes. - Improved access to credit: The platform's secure data sharing capabilities can enhance businesses' creditworthiness and facilitate access to financing. - Greater transparency and efficiency: Standardized APIs ensure clear and efficient data exchange, promoting transparency within the financial ecosystem. This development signifies a positive step towards simplifying GST compliance and boosting access to credit for businesses. #GST #PublicTechPlatform #FrictionlessCredit #DigitalIndia #BusinessFinance

"UPI Circle: New Feature Redefining Digital Payments" - Listen to full content to know more (link below) https://lnkd.in/gtvNat3a Discover how UPI Circle is revolutionizing the way we share and manage payments. From enabling controlled transactions for dependents to empowering small businesses, this innovative feature is a game-changer in the world of digital payments. Tune in to know more ! #echovox #digitalpayments #UPI #UPIcircle #NPCI #googlepay #bhim #phonepe #paytm #bharatpe #newfeature #product #payments #financialinclusion #digitaleconomy #digitalindia #economy #linkedin #cfbr #newpost #newarticle

#eDaakhil Portal allows Consumers to file online complaints in Consumer Commissions with online payments of fees. It also enables the Commission to scrutinize the submitted complaints, and either accept, reject, or forward them for further processing. https://edaakhil.nic.in #NICMeitY #DigitalIndia #DigitalTransformation #eGovernance

Driving smarter payments, challenging remittance tax language in Ohio, discussing “click to cancel.” Written by industry experts, get insights on payments like nowhere else… Let's dive in! https://lnkd.in/gtXzYXiD #ETANewsletter #TTWeekly #ETAGR #ETAIA #ETAMembership #ETAEducation