India
Overview of CbC reporting requirements
First reporting fiscal year: Commencing on or after 1 April 2016
Consolidated group revenue threshold: INR 64,000 million
Filing deadline: 12 months following the end of the reporting fiscal year
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 unchanged since the 2017/2018 peer review.
It is recommended that India amend its legislation or otherwise takes steps to ensure that local filing is only required in the circumstances contained in the terms of reference. This recommendation remains unchanged since the 2017/2018 peer review.
The exchange of information framework
India notified some late exchanges of CbC reports, due to a technical issue with their exchange of information portal. This has now been fixed and so no recommendation has been made.
India confirms that its rules have not changed and continue to be applied effectively. India continues to meet all terms of reference.