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DGFT: Suggestions on digital trade exports under new Foreign Trade Policy

DGFT: Suggestions on digital trade exports under new Foreign Trade Policy

Public Policy
June 22, 2021 286 0

The Directorate General of Foreign Trade (DGFT) is reviewing the Foreign Trade Policy (2015-2021), with the objective of formulating a new Foreign Trade Policy (FTP) which will come into effect once the current FTP (2015-2021) exp...


Engagement with DGFT, MEITY, MEA: Review of GAICT policy

Engagement with DGFT, MEITY, MEA: Review of GAICT policy

Public Policy
June 22, 2021 98 0

On June 18, 2021, NASSCOM engaged with the concerned officials of Directorate General of Foreign Trade (DGFT), Ministry of Electronics and Information Technology (MeitY) and Ministry of External Affairs (MEA), to bring forwar...


Member Consultation: Revised draft of e-Commerce Rules

Member Consultation: Revised draft of e-Commerce Rules

Public Policy
June 22, 2021 221 0

The Department of Consumer Affairs (DoCA), Ministry of Consumer Affairs, has released draft amendments to the Consumer Protection (e-Commerce) Rules, 2020 (e-Commerce Rules) for public consultation. Several significant amendme...


Policy Brief: Revised draft of Consumer Protection (e-Commerce) Rules

Policy Brief: Revised draft of Consumer Protection (e-Commerce) Rules

Public Policy
June 22, 2021 251 0

On June 21, 2021, the Ministry of Consumer Affairs, Food and Public Distribution notified proposed amendments to Consumer Protection (e-Commerce) Rules, 2020 (The e-Commerce Rules).  Context to the proposed amendments: ...


Request for amending S. 206C(1H) of Income Tax Act, 1961 due to possible double levy of tax on account of applicability of both TDS and TCS provisions, in case of e-commerce transaction

Request for amending S. 206C(1H) of Income Tax Act, 1961 due to possible double levy of tax on account of applicability of both TDS and TCS provisions, in case of e-commerce transaction

Public Policy
June 21, 2021 90 0

S.206C(1H) was introduced under Income Tax Act, 1961 (IT Act) w.e.f. October 1, 2020, which provides for levy of Tax Collection at Source (TCS) @ 0.1% of sale consideration, on sale of goods to a buyer on value exceeding INR 50 la...


GST: Submission requesting for extension of implementation date of dynamic QR code for B2C supplies

GST: Submission requesting for extension of implementation date of dynamic QR code for B2C supplies

Public Policy
June 15, 2021 58 0

As per Rule 46 of Central Goods and Services Tax Rules, 2017 (CGST Rules) read with Notification no 72/2019-Central Tax dated December 13, 2019, taxpayers having aggregate turnover exceeding INR 500 crores in a financial year, are...


Submission to MeitY seeking clarification of export control of encryption items, software and technology

Submission to MeitY seeking clarification of export control of encryption items, software and technology

Public Policy
June 11, 2021 294 0

On June 11, 2021, NASSCOM responded to Ministry of Electronics and Information Technology (MeitY) seeking clarity of certain phrases or terms under Category 5 - Part 2 of the Wassenaar Arrangement List of Dual-Use Goods ...


GST Update: Bombay High Court Ruling | Split opinion on constitutional validity of GST on intermediary services

GST Update: Bombay High Court Ruling | Split opinion on constitutional validity of GST on intermediary services

Public Policy
June 11, 2021 418 0

The Hon’ble Bombay High Court, in the case of Dharmendra M Jani (Petitioner), has recently delivered a split opinion on constitutional validity of GST on intermediary services. Background The Petitioner is a proprietor o...


GST: Representation to Address Concern Of Input Tax Credit On Procurement Of Covid-19 Related Goods

GST: Representation to Address Concern Of Input Tax Credit On Procurement Of Covid-19 Related Goods

Public Policy
June 7, 2021 175 0

Background As you aware, the GST Council has recently issued Notification No. 32/2021-Customs dated May 31, 2021 (Exemption Notification) for extending exemption from Integrated Goods and Services Tax (IGST) on import o...


RBI Annual Report 2020-21

RBI Annual Report 2020-21

Public Policy
May 28, 2021 172 0

On May 27, the Reserve Bank of India (RBI) released its Annual Report for the year 2020-21. The Report covers the working and functions of the Central Bank for the transition period of nine months (July 2020 - March 2021) followin...


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