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Update: Clarification on exclusions from the definition of Virtual Digital Assets

Update: Clarification on exclusions from the definition of Virtual Digital Assets

Public Policy
July 6, 2022 205 0

Union Budget 2022 – 23 introduced tax @ 30% on income arising from transfer of Virtual Digital Assets (VDA) under S.115BBH of the Income-tax Act, 1961 (IT Act). For this, Finance Act, 2022 provided the definition of VDA under...


Department of Telecom - Guidelines for Captive Non-Public Network License

Department of Telecom - Guidelines for Captive Non-Public Network License

Public Policy
July 5, 2022 363 0

On 27th June 2022, the Department of Telecommunications (DOT) released a set of guidelines on the setting of captive non-public networks (CNPNs) in India. For context, a captive private network is a local area network where sp...


[Analysis] Parliamentary Standing Committee Report on E-commerce

[Analysis] Parliamentary Standing Committee Report on E-commerce

Public Policy
July 5, 2022 389 0

  Parliamentary Standing Committee Report on E-commerce Summary of NASSCOM’s recommendations included in the Report   The Department Related Parliamentary Standing Committee on Commerce recently released its ...


Update: Haryana Government approves Haryana Data Centre Policy, 2022

Update: Haryana Government approves Haryana Data Centre Policy, 2022

Public Policy
June 30, 2022 492 0

Based on news reports, the Haryana government has recently approved the Haryana Data Centre Policy (Policy). This is to make Haryana a preferred destination for setting up such facilities, and help the state emerge as a global dat...


Update: RBI releases ‘Report of the Regulations Review Authority 2.0’

Update: RBI releases ‘Report of the Regulations Review Authority 2.0’

Public Policy
June 30, 2022 219 0

Backdrop The Reserve Bank of India (RBI) had setup the Regulations Review Authority 2.0 (RRA 2.0) with the objective of reducing the compliance burden on regulated entities by streamlining the regulatory instructions and ...


GST Update: Key Recommendations of 47th Meeting of the GST Council

GST Update: Key Recommendations of 47th Meeting of the GST Council

Public Policy
June 29, 2022 296 0 images

The 47th meeting of the GST Council concluded today in Chandigarh under the chairmanship of Finance Minister Smt. Nirmala Sitharaman. The focus of the  47th Council meeting was on report of four Group of Ministers (GoM) on Ra...


Response to SEBI's Consultation Paper on Pre-Filing Offer Document in case of IPO

Response to SEBI's Consultation Paper on Pre-Filing Offer Document in case of IPO

Public Policy
June 27, 2022 182 0

On June 6, 2022, NASSCOM made a submission to Securities Exchange Board of India (SEBI) in response to the Consulation Paper on Pre-Filing of Offer Document in case of an Initial Public Offering (IPO). In our submission, we welcom...


Update: RBI extends timeline for purging card-on-file data by three months

Update: RBI extends timeline for purging card-on-file data by three months

Public Policy
June 24, 2022 177 0

  The Reserve Bank of India (RBI) has granted an extension to purge card-on-file (CoF) data by three months i.e., September 30, 2022. Prior to this, RBI had granted an extension for the same ahead of December 31, 2022 dead...


Call for inputs: Draft Master Direction on Outsourcing of IT Services by Reserve Bank of India

Call for inputs: Draft Master Direction on Outsourcing of IT Services by Reserve Bank of India

Public Policy
June 24, 2022 275 0

The Reserve Bank of India (RBI) in its statement on Developmental and Regulatory Policies had sated that the “financial system is seeing extensive leveraging and outsourcing of critical IT services by regulated entities” and that ...


Reserve Bank of India (RBI): Representation on facilitating compliance with Card-on-file Tokenisation

Reserve Bank of India (RBI): Representation on facilitating compliance with Card-on-file Tokenisation

Public Policy
June 24, 2022 138 0

In compliance with the PA/PG guidelines, merchants and payment aggregators (PAs) will be required to purge stored card data on June 30th i.e., a week from now. The RBI had granted an extension to the industry for the same by six m...


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