SC: Disciplinary Proceedings Cannot Follow if an Officer is Discharged on the Same Charge  ||  SC Clarified the Distinction Between Arbitration “Seat” And “Venue” While Summarising Key Principles  ||  Supreme Court: Wife and Her Family Cannot Be Prosecuted For Dowry-Giving Based On Her Complaint  ||  SC: Plaint Cannot Be Rejected Under Order VII Rule 11 CPC on the Ground of Order II Rule 2 Bar  ||  Supreme Court Has Issued an SOP Prescribing Strict Timelines For Filing Legal Aid Appeals  ||  Madras HC: Dhurandhar 2 Release Cannot be Stalled Due to Objections From a Small Section  ||  Delhi HC: Lokpal May Form Prima Facie Opinion Before Show Cause Notice Without Prior Hearing  ||  Bom HC: Family Courts Cannot Casually Order a Spouse’s Medical Examination to Assess Mental Health  ||  Bombay HC: Child Care Leave Protects Motherhood and Denial Violates Rights of Mother and Child  ||  Supreme Court: Amalgamating Company Loss Cannot be Set Off Against Amalgamated Income    

Expert Committee on developing GIFT IFSC as 'Global Finance and Accounting Hub' submits report to IFSCA- (Press Information Bureau) (28 Mar 2024)

MANU/PIBU/0304/2024

Commercial

The Expert Committee on developing the Gujarat International Finance Tech-City International Financial Services Centre (GIFT IFSC) as 'Global Finance and Accounting Hub' has submitted its report to Chairperson, International Financial Services Centre Authority, (IFSCA) on 26th March, 2024.

The Expert Committee was constituted pursuant to the notification issued by Ministry of Finance on 18th January, 2024 wherein book-keeping, accounting, taxation and financial crime compliance were notified as 'financial services' under Sec 3(1)(e)(xiv) of IFSCA Act, 2019. The Expert Committee was chaired by the President of the Institute of Chartered Accountants of India (ICAI). The committee comprised of experts from the industry, academia and the Government.

The Expert Committee has recommended a comprehensive regulatory regime for undertaking bookkeeping, accounting, taxation and financial crimes compliance services from IFSC in India. Additionally, the Committee has also made several recommendations for the promotion and development of GIFT IFSC as 'Global Finance and Accounting Hub', including measures for enhancing the skills and competencies of the workforce.

In its report, the Committee has highlighted the potential for GIFT IFSC to become a global hub for book-keeping, accounting, taxation and financial crime compliance services, which would create large employment opportunities for the talented workforce.

Tags : EXPERT COMMITTEE   GIFT IFSC   REPORT  

Share :        

Disclaimer | Copyright 2026 - All Rights Reserved