Supreme Court: Non-Signatory Can Be Bound By an Agreement if Involved in Performing the Contract  ||  Supreme Court: 'Washed-Off Theory' Inapplicable in Assessing Employee Retention Suitability  ||  SC Directs States/UTs to Grant Ex-Servicemen Quota to Cadets Disabled 40% or More in Training  ||  Delhi High Court Quashed Cases over Allegations of Excess Lead Content in Maggi Noodles  ||  Madras High Court: Advocates Cannot Hinder Police From Producing Arrested Lawyers Before a Court  ||  Allahabad HC Awarded Rs. 4.75 Lakh Compensation Over Illegal Vehicle Confiscation in a Beef Case  ||  Allahabad High Court: Strong Suspicion, Not Proof of Guilt, is Sufficient to Frame Charges  ||  Delhi HC: Prior Sanction Not Required Where Cognizance Preceded 2018 PC Act Amendment  ||  Bombay High Court: The Notion of a "Perfect Victim" in Rape Cases is a Myth  ||  Allahabad High Court: Prior Agreement With Inquiry Report Doesn't Vitiate Disciplinary Proceedings    

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