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RBI extends timeline for compliance with directive on processing of e-mandate for recurring transactions

RBI extends timeline for compliance with directive on processing of e-mandate for recurring transactions

Public Policy
March 31, 2021 146 1

On 31 March, the Reserve Bank of India (RBI) decided to extend the timeline for processing of recurring online transactions by six months. The new deadline for stakeholders to migrate to the framework for processing of such t...


NASSCOM: OSP Reforms Impact Survey 2021

NASSCOM: OSP Reforms Impact Survey 2021

Public Policy
March 31, 2021 45 0

Dear all, As you are aware, the Department of Telecommunications (DoT) on November 5, 2020 introduced new guidelines for Other Service Providers (OSPs). The guidelines that are based on the principle of trust and self-regulatio...


GST Update - B2C QR code extended by 3 months

GST Update - B2C QR code extended by 3 months

Public Policy
March 31, 2021 36 0

Central Board of Indirect Taxes and Customs (CBIC) issued Notification no. 06/2021- Central Tax dated March 30, 2021 extending the applicability of Dynamic QR Code on B2C invoices from April 1, 2021 to July 1, 2021....


Update - Extension of upfront exemption from IGST for Export Oriented Units till March 31, 2022

Update - Extension of upfront exemption from IGST for Export Oriented Units till March 31, 2022

Public Policy
March 31, 2021 23 0

Central Board of Indirect Taxes and Customs (CBIC) issued Notification no. 19/2021- Customs dated March 30, 2021 extending the benefit of upfront exemption from Integrated GST and cess for Export Oriented Units (EOUs) fo...


Update: Amendments to Finance Bill, 2021 passed by the President

Update: Amendments to Finance Bill, 2021 passed by the President

Public Policy
March 30, 2021 52 0

The Finance Bill 2021 introduced vide Union Budget 2021-22 was recently approved by the President on March 28, 2021, with certain amendments.  Basis our review of the proposals introduced vide Finance Bill 2021 and fe...


Update: SEBI eases norms for public listing of startups

Update: SEBI eases norms for public listing of startups

Public Policy
March 30, 2021 29 0

On 25 March 2021, Securities and Exchange Board of India (SEBI), approved various proposals with respect to framework of Innovators Growth platform (IGP) under SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018 ...


Survey on the impact of new Haryana State Reservation Law on start-ups: March 2021

Survey on the impact of new Haryana State Reservation Law on start-ups: March 2021

Public Policy
March 26, 2021 99 0 images

NASSCOM recently conducted a survey to assess the impact on start-ups of the new Haryana State Employment of Local Candidates Act, 2020. The law forces companies to recruit at least 75% of all new employees to have a domicile in t...


MCA: Submission requesting for deferment of timelines for implementation of Notification No. GSR 205 (E), which require companies to adopt accounting software having the feature of audit trail

MCA: Submission requesting for deferment of timelines for implementation of Notification No. GSR 205 (E), which require companies to adopt accounting software having the feature of audit trail

Public Policy
March 26, 2021 56 0

As you may be aware, Ministry of Corporate Affairs (MCA) recently issued Notification No. GSR 205 (E) dated 24th March 2021 notifying Companies (Accounts) Amendment Rules, 2021 (New Rules). The new rules seek to insert Proviso ...


GST: Submission requesting for removal of restriction on zero rating benefit under GST for units in Special Economic Zones for facilities /amenities like canteen, first aid centre etc.

GST: Submission requesting for removal of restriction on zero rating benefit under GST for units in Special Economic Zones for facilities /amenities like canteen, first aid centre etc.

Public Policy
March 26, 2021 230 0

As you are aware, Information Technology (IT) industry is dependent on its human capital which forms its core resource. Thus, employee wellness and welfare are integral part of businesses of IT companies. As per Rule 11(5) of S...


GST Update | AAR | Transportation facility provided by Company to employees in terms of employment contract is not taxable

GST Update | AAR | Transportation facility provided by Company to employees in terms of employment contract is not taxable

Public Policy
March 26, 2021 131 0 images

The Authority for Advance Ruling (AAR), Uttar Pradesh in the case of North Shore Technologies Private Limited (Applicant) recently ruled that providing subsidised shared transport facility by the applicant to its employe...


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