India

Overview of CbC reporting requirements

First reporting fiscal year: Commencing on or after 1 April 2016

Consolidated group revenue threshold: INR 50,500 million

Filing deadline: 12 months following the end of the reporting fiscal year

Local filing required: Yes

Surrogate parent entity filing permitted: Yes

First review of the domestic legal framework: 2017/2018

Summary of recommendations

Area of implementation

Recommendations for improvement

Domestic legal and administrative framework

It is recommended that India amend or otherwise clarify that the annual consolidated group revenue threshold calculation rule applies in a manner consistent with the OECD guidance on currency fluctuations in respect of an MNE Group whose Ultimate Parent Entity is located in a jurisdiction other than India.

It is recommended that India amend its legislation or otherwise takes steps to ensure that local filing only occurs in the circumstances permitted under the minimum standard.

Exchange of information framework

None.

Appropriate use

None.

The domestic legal and administrative framework

It is recommended that India amend or otherwise clarify that the annual consolidated group revenue threshold calculation rule applies in a manner consistent with the OECD guidance on currency fluctuations in respect of an MNE Group whose Ultimate Parent Entity is located in a jurisdiction other than India. This recommendation remains in place since the 2017/2018 peer review.

It is recommended that India amend its legislation or otherwise takes steps ensure that local filing only occurs in the circumstances permitted under the minimum standard. This recommendation remains in place since the 2017/2018 peer review.

The exchange of information framework

India confirms that its rules have not changed and continue to be applied effectively. India continues to meet all terms of reference.

Appropriate use of CbC reports

India confirms that its rules have not changed and continue to be applied effectively. India continues to meet all terms of reference.

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