๐๐๐๐ ๐ฐ๐น๐ฒ๐ฎ๐ฟ๐ ๐๐ฎ๐ ๐ณ๐ผ๐ฟ ๐๐๐ ๐ถ๐ป ๐๐๐๐ง ๐๐ถ๐๐!
I had attended the GCC Summit conducted by ICAI at GIFT City, where an important announcement was made that opens global opportunities for our profession.
๐ ๐๐ฒ๐ ๐๐ถ๐ด๐ต๐น๐ถ๐ด๐ต๐๐:
๐ญ. ๐ ๐ถ๐ฟ๐ฟ๐ผ๐ฟ ๐๐ถ๐ฟ๐บ๐ ๐๐น๐น๐ผ๐๐ฒ๐ฑ
โข CAs can now set up ๐บ๐ถ๐ฟ๐ฟ๐ผ๐ฟ ๐ณ๐ถ๐ฟ๐บ๐ ๐ถ๐ป ๐๐๐๐ง ๐๐๐ฆ๐ without losing exclusivity of their domestic firms.
๐ฎ. ๐ง๐๐ผ ๐๐ข๐ฃ๐ (๐๐ฒ๐ฟ๐๐ถ๐ณ๐ถ๐ฐ๐ฎ๐๐ฒ๐ ๐ผ๐ณ ๐ฃ๐ฟ๐ฎ๐ฐ๐๐ถ๐ฐ๐ฒ)
- CAs can now hold ๐๐๐ผ ๐๐ข๐ฃ๐:
โข One in India
โข One abroad (UK, Australia, Canada, New Zealand, etc.) - Earlier, this was not allowed to avoid conflict in RBI & CAG empanelments.
๐ฏ. ๐ฆ๐ฐ๐ผ๐ฝ๐ฒ ๐ผ๐ณ ๐ช๐ผ๐ฟ๐ธ ๐ถ๐ป ๐๐๐๐ง ๐๐ถ๐๐
- CAs can offer ๐๐ผ๐ผ๐ธ๐ธ๐ฒ๐ฒ๐ฝ๐ถ๐ป๐ด, ๐๐ฐ๐ฐ๐ผ๐๐ป๐๐ถ๐ป๐ด, ๐ง๐ฎ๐ ๐ฎ๐๐ถ๐ผ๐ป & ๐๐ถ๐ป๐ฎ๐ป๐ฐ๐ถ๐ฎ๐น ๐๐ฟ๐ถ๐บ๐ฒ (๐๐๐ง๐) ๐ฐ๐ผ๐บ๐ฝ๐น๐ถ๐ฎ๐ป๐ฐ๐ฒ ๐๐ฒ๐ฟ๐๐ถ๐ฐ๐ฒ๐ globally from GIFT IFSC.
๐ฐ. ๐๐บ๐ฝ๐น๐ผ๐๐บ๐ฒ๐ป๐ & ๐๐น๐ผ๐ฏ๐ฎ๐น ๐๐ป๐๐ฒ๐ด๐ฟ๐ฎ๐๐ถ๐ผ๐ป
- This move will create ๐ป๐ฒ๐ ๐ฒ๐บ๐ฝ๐น๐ผ๐๐บ๐ฒ๐ป๐ ๐ผ๐ฝ๐ฝ๐ผ๐ฟ๐๐๐ป๐ถ๐๐ถ๐ฒ๐ in GIFT City.
- Strengthens Indiaโs role as a ๐ด๐น๐ผ๐ฏ๐ฎ๐น ๐ต๐๐ฏ ๐ณ๐ผ๐ฟ ๐ณ๐ถ๐ป๐ฎ๐ป๐ฐ๐ถ๐ฎ๐น ๐ฎ๐ป๐ฑ ๐ฎ๐ฐ๐ฐ๐ผ๐๐ป๐๐ถ๐ป๐ด ๐๐ฒ๐ฟ๐๐ถ๐ฐ๐ฒ๐.
๐ ๐ช๐ต๐ ๐๐ ๐ ๐ฎ๐๐๐ฒ๐ฟ๐:
- India currently has ๐ฐ.๐ฑ ๐น๐ฎ๐ธ๐ต ๐๐๐.
- By ๐ฎ๐ฌ๐ฐ๐ณ, demand is expected to touch ๐ฏ๐ฌ ๐น๐ฎ๐ธ๐ต ๐๐๐.
- This reform ensures:
โ Growth opportunities for CA firms
โ Global expansion while retaining domestic practice
โ Stronger positioning of GIFT City as an international financial hub
This reform will be empowering CAs to practice globally, expand through GIFT City, and contribute to Indiaโs vision of becoming a ๐ด๐น๐ผ๐ฏ๐ฎ๐น ๐น๐ฒ๐ฎ๐ฑ๐ฒ๐ฟ ๐ถ๐ป ๐ณ๐ถ๐ป๐ฎ๐ป๐ฐ๐ถ๐ฎ๐น ๐๐ฒ๐ฟ๐๐ถ๐ฐ๐ฒ๐.
Radhika Goyal is Author of Taxconcept Gurugram head office, for deeply reported tax, gst and income tax articles on issues that matter. He splits her time between New Delhi and Bengaluru, and has worked as a reporter, a podcaster and an editor for publications across India.