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India’s market regulator is speeding up clearances of initial public offerings (IPOs), boosting an already strong pipeline of share sales that could hit a record this year, according to regulatory and investment banking sources. The Securities and Exchange Board of India (SEBI) will try to approve a majority of the IPOs within three months of filing, the two regulatory sources said. Previously, such clearances sometimes took up to six months. “In a market that is overcrowded with issuers wanting to catch the right window to list, SEBI’s approach in recent times has helped ease the pressure,” said Madhurima Mukherjee Saha, partner at JSA Advocates & Solicitors. Read more

India’s market regulator is speeding up clearances of initial public offerings (IPOs), boosting an already strong pipeline of share sales that could hit a record this year, according to regulatory and investment banking sources. The Securities and Exchange Board of India (SEBI) will try to approve a majority of the IPOs within three months of filing, the two regulatory sources said. Previously, such clearances sometimes took up to six months. “In a market that is overcrowded with issuers wanting to catch the right window to list, SEBI’s approach in recent times has helped ease the pressure,” said Madhurima Mukherjee Saha, partner at JSA Advocates & Solicitors. Read more

The market regulator is speeding up clearances of initial public offerings (IPOs), boosting an already strong pipeline of share sales that could hit a record this year, according to regulatory and investment banking officials. The Securities and Exchange Board of India (Sebi) will try to approve a majority of the IPOs within three months of filing, the two regulatory officials said. “In a market that is overcrowded with issuers wanting to catch the right window to list, Sebi’s approach in recent times has helped ease the pressure’ said Madhurima Mukherjee Saha, Partner at JSA Advocates & Solicitors. Read more

The Securities and Exchange Board of India (Sebi) is speeding up clearances of initial public offerings (IPOS), boosting an already-strong pipeline of share sales that could hit a record this year, regulatory and investment banking sources said. Sebi will try to approve a majority of the IPOs within three months of filing, the sources said. “In a market that is overcrowded with issuers wanting to catch the right window to list, Sebi’s approach in recent times has helped ease the pressure’ said Madhurima Mukherjee Saha, Partner at JSA Advocates & Solicitors. Read more

Distributors and retailers have reduced the Fast-Moving Consumer Goods (FMCG) inventories to between 5 and 6 days from the earlier 10-15 days to clear stocks, and with no clarity from FMCG makers on the timeline for implementation of GST 2.0. “With the recent GST rate changes, companies are aligned on passing the benefits to consumers and actively discussing avenues to be compliant with the law by engaging with legal experts. The law expects this to be done through price reductions; however, in reality, there are various challenges. For instance, product packaging/ labelling, very low-price points, and goods already in transit pose challenges to pass on the benefit by actual reduction in prices. Also, various commercial factors play an important role in the pricing of a product. Therefore, businesses often look at practical alternatives, such as increasing the quantity in small packs, extending ‘buy one, get one’ offers, or offering discounts,” said Manish Mishra, Partner and Head of Practice, Indirect Tax – JSA Advocates & Solicitors. Read more

Consumer goods makers are hiring law firms for implementing the revised goods and services tax (GST) norms and taking pre-emptive measures to safeguard against any inadvertent anti-profiteering complications and allegations, said executives at companies and legal firms. The development comes amid buzz that the government is considering re-invoking anti-profiteering provisions, though only in the short term, to ensure companies pass on tax benefits to consumers. “While legal provisions require any benefits to be passed on by Way of commensurate reduction in prices, it is not practical to do so for all commodities, on account of package size, low retail price per package, and stock in transit, etc,” said Manish Mishra, partner and head of practice, indirect tax, JSA Advocates & Solicitors. Read more

Amid global economic chaos and US tariffs, Indian industries discuss risks and opportunities at a leadership roundtable. Key themes include dependence on China, the necessity for diversification, and the importance of creating competitive global brands to drive sustainable growth. If one word captured the mood, it was uncertainty. “From 2005 when (Thomas) Friedman wrote about the world being flat to now, there is complete uncertainty. World politics today is like Gen Z ‘situationships’ — you don’t know who is with whom, or for how long,” said Shivpriya Nanda, partner at law firm JSA Advocates & Solicitors. Read more

The US tariffs of 50% on Indian exports hit sectors such as textiles and apparel, and gems and jewellery. Auto components, too, face pressures given their reliance on exports to the US. Renewable energy firms, meanwhile, are less directly affected by Washington’s tariff strikes, but remain deeply dependent on inputs. The recent easing of Sino-Indian tensions has offered some reassurance, but nerves remain raw. To deliberate on these issues and explore both risks and opportunities, Mint convened a leadership roundtable in New Delhi with leaders across textiles, renewable energy, mining, electronics, auto components and law. “From 2005 when (Thomas) Friedman wrote about the world being flat to now, there is complete uncertainty. World politics today is like Gen Z ‘situationships’ — you don’t know who is with whom, or for how long,” said Shivpriya Nanda, partner at law firm JSA Advocates & Solicitors. Read more

The rationalisation of GST on cement – a key construction material – will help lower capital cost of infrastructure projects and improve cash flows, industry players said. At its 56th meeting on Wednesday, the GST Council approved slashing GST rates on a number of items. On cement, the council recommended the duty to be reduced to 18 per cent from 28 per cent. According to Ashish Suman, Partner, JSA Advocates & Solicitors, “In the medium term these tax cuts will provide a boost to India’s ambitions towards decarbonising its economy, as the reduced GST rates will make the production and supply of such next generation renewable energy parts more cost-effective. This will ultimately lead towards increase in investment and manufacturing activities in the renewable energy space.” Read more

The rationalisation of GST on cement – a key construction material – will help lower capital cost of infrastructure projects and improve cash flows, industry players said. At its 56th meeting on Wednesday, the GST Council approved slashing GST rates on a number of items. On cement, the council recommended the duty to be reduced to 18 per cent from 28 per cent. According to Ashish Suman, Partner, JSA Advocates & Solicitors, “In the medium term these tax cuts will provide a boost to India’s ambitions towards decarbonising its economy, as the reduced GST rates will make the production and supply of such next generation renewable energy parts more cost-effective. This will ultimately lead towards increase in investment and manufacturing activities in the renewable energy space.”  Read more

Realtors have hailed the government’s move to slash GST on cement from 28% to 18%, calling it a landmark reform that will reduce construction costs and boost housing demand. The reduction, part of a broader GST rationalisation, is expected to lower overall project expenses by up to 5%, with developers and industry bodies saying the benefits will flow to both homebuyers and the real estate sector. Rajul Bohra, Partner, JSA Advocates & Solicitors, said, “The GST Council had introduced a two-slab structure of 5% and 18%. The rate cuts on cement to 18% should ease financial burdens for real estate developers and improve affordability. However, the impact on home prices will depend on several factors. Greater clarity is needed on input tax credit for buildings meant for rental use, and it will need to be seen whether benefits will be passed to homebuyers or not.”  Read more

The GST new two-tier structure of 5% and 18% from September 22 is a welcome stride towards simplifying taxation in India. The cut in GST on cement from 28% to 18% and reductions on other key construction materials are crucial as it will help moderate construction costs, easing pressure on real estate developers and encouraging sustainable infrastructure growth. Rajul Bohra, Partner, JSA Advocates & Solicitors too expressed similar sentiments, “The impact on home prices will depend on several factors. Greater clarity is needed on input tax credit for buildings meant for rental use, and it will need to be seen whether benefits will be passed to homebuyers or not.” Read more