Dissecting Contours of IFSC Framework

Episode Duration:
90 minutes

Episode Background:
The Gift City in Gujarat is a marquee project being vigorously promoted by the Government of India. Within the Gift City is located India’s very first and only international financial services centre (‘IFSC’). The conceptualization, establishment and development of the IFSC have been with the sole objective of bringing financial services transactions relatable to India, back to Indian shores.

Having said this, IFSC in India is potentially slated to become the investment gateway by providing easy access to global investors for investing in the fast-growing Indian economy. These macro benefits coupled with recent regulatory and legislative reforms such as the establishment of a unified authority i.e. IFSCA (in April 2020), to regulate matters relating to IFSC and host of tax incentives, such as corporate tax holiday, exemptions from GST, dividend distribution tax and capital gains tax for entities operating in the IFSC, has induced various businesses to actively consider IFSC as a preferred destination to set up and operate with a view to leverage on this thriving opportunity.

What shall the episode cover?
Against this backdrop, Taxsutra & ELP present an episode on “Dissecting Contours of IFSC Framework”. In this webinar, Mr. Nishant Shah (Senior Partner, ELP) has explained the broad contours of the IFSC framework (including the regulatory aspects), discuss various tax / other incentives available to units at IFSC and the huge business potential which IFSC serves. Mr. Shah is been supported by Mr. Rahul Charkha and Mr. Pranav Pagaria in the conduct of this presentation (Pertinently, ELP is one of the few law firms to be approved for setting up and operating an office in the IFSC).
 

Key Highlights

1. What is IFSC and its legal framework
2. Business sectors eligible for setting up of operations at IFSC and overview of business dynamics for some of these sectors
3. Key tax benefits (Direct, Indirect tax, Stamp Duty, etc) available to businesses operating in IFSC
4. State incentives extended to units at IFSC
5. Infrastructure set up and ease of doing business at IFSC
6. Process and timelines for setting up operations at IFSC