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Definition of MSME revised

Public Policy
June 5, 2020 403 0 images

On 13th May, the Finance Minister made the first set of announcements, on the economic package. The measures focused on providing much needed liquidity infusion, esp for the MSME sector.As a part of these announcements, definition...


Blog

NASSCOM's Point of View on Equalization Levy introduced vide Finance Act 2020

Public Policy
June 1, 2020 1924 0

Equalisation Levy (“EL”) was introduced in India vide Finance Act 2016, subsequent Final Report of Organisation for Economic Co-operation and Development (“OECD”) dealing with tax challenges of the Digital Economy. The scope of EL...


Blog

Startups and IT SMEs: Understanding Export Control Framework Related to Intangible Technology Transfer

Public Policy
May 30, 2020 1148 0 images

If you are a gadget geek, you may be aware that last year when the Google Pixel 4 and Pixel 4XL phones were launched worldwide, these models were not launched in India. The reason behind restricting the sale of the Google phones (...


Blog

Representation on The Occupational Safety, Health and Working Conditions Code, 2019.

Public Policy
May 29, 2020 569 0

NASSCOM earlier this month made a detailed representation to the Government, highlighting the industry concerns on the proposed labour code on the Occupational Safety, Health and working conditions. Below is a brief summary of som...


Blog

[Update] DGFT Relaxes Procedural Requirements for SCOMET Applications

Public Policy
May 25, 2020 576 0

The Directorate General of Foreign Trade (DGFT) has relaxed some procedural requirements for SCOMET export applications given the challenges which the industry is facing in export compliance due to the SARS-CoV-2 pandemic. The fol...


Blog

CBDT notifies Safe Harbor Rules for AY 2020-21

Public Policy
May 22, 2020 1896 0 images

Central Board of Direct Taxes (CBDT), vide issue of Income Tax (9th Amendment) Rules, 2020  has notified Safe Harbor Rules (SHR) for Assessment Year (AY) 2020-21. As per the notification, rates applicable from AY 2017-18 to 2019-2...


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Submission to Ministry of Finance to consider revision in Advance Pricing Agreements (APAs) and mark-ups under Safe Harbour Rules

Public Policy
May 22, 2020 516 0

As you are aware, spread of Novel Coronavirus (COVID- 19) and the resulting economic slowdown has ripple effects across a range of markets hampering Multinational Enterprises (MNEs)’s operations, upsetting corporate forecasts and ...


Blog

NASSCOM’s Recommendations for Data Centre Policy

Public Policy
May 22, 2020 1791 0 images

Globally, data is being created at an unprecedented pace. Global Datasphere, which is the total amount of data created, stored and replicated is estimated to grow from 33 ZB in 2018, to 175 ZB by 2025.[1] Given this trend, there i...


Blog

Ministry of Finance clarifies that the provisions of section 269SU of the Income-tax Act shall not be applicable to B2B transactions

Public Policy
May 21, 2020 1729 0 images

ContextIn a move towards a less-cash economy, a new provision namely Section 269SU was inserted in the Income-tax Act, 1961, vide the Finance (No.2) Act 2019. This section requires every person carrying on business and having sale...


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Guidelines on preventive measures to contain spread of COVID-19 in workplace settings

Public Policy
May 21, 2020 455 0

The Ministry of Health & Family Welfare has issued Guidelines on preventive measures to contain spread of COVID-19 in workplace settings (link here). The guidelines, apart from detailing the preventive measures, provides clari...


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