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GST Update: Circular issued to clarify that services provided by subsidiaries to overseas affiliates qualify as exports

GST Update: Circular issued to clarify that services provided by subsidiaries to overseas affiliates qualify as exports

Public Policy
September 21, 2021 544 0 images

The Central Board of Indirect Taxes and Customs (CBIC), in line with the recommendation of GST Council in its 45th meeting held on Friday i.e. 17 September 2021, has finally issued a Circular yesterday clarifying the scope of expo...


GST Update: Much awaited Circular protects IT-ITeS industry from concerns of being treated as 'intermediary' service

GST Update: Much awaited Circular protects IT-ITeS industry from concerns of being treated as 'intermediary' service

Public Policy
September 21, 2021 330 0 images

The much awaited Circular providing clarity on scope of intermediary services has finally been issued by the Central Board of Indirect Taxes and Customs (CBIC) yesterday. As you are aware, NASSCOM has been pursuing this matter for...


GST Update: Summary of decisions taken in 45th GST Council meeting

GST Update: Summary of decisions taken in 45th GST Council meeting

Public Policy
September 18, 2021 209 0 images

The 45th meeting of the GST Council was held today in Lucknow. This was the first in-person meeting of the Council after a long gap of 2 years, owing to the pandemic.  The meeting was chaired by Finance Minister Smt. Nirmala ...


GST Update: Extension of time limit to file revocation of cancellation applications

GST Update: Extension of time limit to file revocation of cancellation applications

Public Policy
September 14, 2021 1227 0

The Central Board of Indirect Taxes and Customs (CBIC) recently issued Notification No 34/2021- Central Tax dated 29th August 2021 under S. 168A of the Central Goods and Services Tax Act, 2017 (CGST Act) extending the timelines fo...


Update: SEIS for FY 2019-2020 with revisions in categories and rates has been notified

Update: SEIS for FY 2019-2020 with revisions in categories and rates has been notified

Public Policy
September 10, 2021 207 0 images

On September 23, 2021, the Ministry of Commerce and Industry (MOCI) notified the rates and eligible service categories for claiming benefits under the Services Exports of India Scheme (SEIS), for service exports rendered in t...


RBI modifies guidelines on tokenisation of card transactions

RBI modifies guidelines on tokenisation of card transactions

Public Policy
September 10, 2021 93 0

The Reserve Bank of India (RBI) after reviewing the tokenisation framework, on September 7th, 2021 issued a directive with certain enhancements to its  extant framework on card tokenisation services. Prior to this on August 2...


Call for Inputs: Export Control rules for encryption items/software/technology (SCOMET Category 8A5 Part 2)

Call for Inputs: Export Control rules for encryption items/software/technology (SCOMET Category 8A5 Part 2)

Public Policy
September 9, 2021 69 0

Information security products and technology are subject to export control restrictions under Category 8A5 Part 2 of India's SCOMET list. Companies routinely incorporate cryptography in software to enable data confidenti...


Submission: Uniform Pricing Norms for Unlisted Equity

Submission: Uniform Pricing Norms for Unlisted Equity

Public Policy
September 9, 2021 30 0

Background: NASSOCM has submitted suggestions to the Arun Jaitley National Institute of Financial Management (AJNIFM), an autonomous institute of Ministry of Finance (MoF), on the topic of uniform pricing norms for unlisted equ...


Update: Singapore Exchange allows listing of Special Purpose Acquisition Companies (SPAC) on its mainboard

Update: Singapore Exchange allows listing of Special Purpose Acquisition Companies (SPAC) on its mainboard

Public Policy
September 8, 2021 56 0

Singapore Exchange (SGX) recently announced new rules that will enable Special Purpose Acquisition Companies (SPACs) to list on the Mainboard of the Singapore Exchange Securities Trading Limited (Mainboard) effective 3 September 2...


GST Commissionerate: Virtual meet on Extension of time limit to apply for Revocation of cancellation of registration

GST Commissionerate: Virtual meet on Extension of time limit to apply for Revocation of cancellation of registration

Public Policy
September 8, 2021 5 0

GST East Commissionerate is organising a virtual meet on "Extension of time limit to apply for Revocation of Cancellation of registration-Notification 34/2021 CT dated 29.08.2021 on September 9, 2021 (Thursday) from 11 A...


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