https://www.taxtmi.com/news?id=3776 Amendment permits a non-resident investor that is not the brand owner to undertake single-brand product retail trading in India through a legally tenable licence/franchise/sub-licence agreement, while mandating that only one non-resident entity may operate for a specific brand and that the Indian recipient company ensure and evidence compliance. For proposals with FDI beyond 51%, the Indian company must self-certify and later have audited verification that a prescribed portion of the value of goods purchased is sourced from India, preferably from MSMEs, village and cottage industries, artisans and craftsmen, where feasible. en-us Fri, 14 Sep 2012 18:50:42 +0530 Fri, 14 Sep 2012 18:50:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=3776 Amendment permits a non-resident investor that is not the brand owner to undertake single-brand product retail trading in India through a legally tenable licence/franchise/sub-licence agreement, while mandating that only one non-resident entity may operate for a specific brand and that the Indian recipient company ensure and evidence compliance. For proposals with FDI beyond 51%, the Indian company must self-certify and later have audited verification that a prescribed portion of the value of goods purchased is sourced from India, preferably from MSMEs, village and cottage industries, artisans and craftsmen, where feasible. News - Fri, 14 Sep 2012 18:50:42 +0530 https://www.taxtmi.com/news?id=3776