India GST Relief for Foreign Investors
India clarified that brokerage paid by overseas clients can qualify as exports and avoid goods and services tax under certain conditions. Analysts view the move as positive for foreign portfolio investors amid record outflows.
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Xurve View
India exempted overseas brokerage fees from the 18% goods and services tax under specific conditions, offering relief to foreign investors. The October 26 circular arrives as overseas investors offload domestic equities amid record outflows. The regulatory shift could lower transaction costs for foreign portfolio investors trading through repatriable rupee accounts.
