Acronyms

AAR

Authority for Advance Rulings

APA

Advance pricing agreement

ASI

Annual Survey of Industries

BEPS

Base erosion profit sharing

BRIICS

Brazil, Russia, India, Indonesia, China, South Africa.

CBEC

Central Board of Excise and Customs

CBDT

Central Board of Direct Taxes

CFC

Controlled foreign company

CIT

Corporate income tax

DBT

Direct benefit transfer

DDT

Dividend distribution tax

DFC

Dedicated Freight Corridor

DTC

Direct Tax Code

EME

Emerging market economy

EPL

Employment protection legislation

EPZ

Export Processing Zone

FDI

Foreign direct investment

FRBMA

Fiscal Responsibility and Budget Management Act

FY

Fiscal year

GDP

Gross domestic product

GST

Goods and Services Tax

HUF

Hindu Undivided Family

ICT

Information and communication technology

INR

Indian Rupee

IT

Information technology

NPL

Non-performing loan

MAT

Minimum alternate tax

MNE

Multinational enterprise

MPI

Multidimensional Poverty Index

MSP

Minimum Support Price

NAM

National Agriculture Market

NEET

Not in employment, education or training

NSSO

National Sample Survey Office

PAN

Permanent Account Number

PIT 

Personal income tax

PMR

Product market regulations

PSL

Priority Sector Lending

R&D

Research and development

RBI

Reserve Bank of India

SEZ

Special economic zone

SME

Small and medium-sized enterprise

SLR

Statutory Liquidity Ratio

TARC

Tax Administration Review Commission

USD

United States dollar

VAT

Value added tax