Tax & Regulatory Newsletter- June, 2020 Edition
Greetings!
We are pleased to attach herewith the Tax & Regulatory Newsletter – June, 2020 Edition highlighting major recent tax and regulatory developments.
Inside this issue…
DIRECT TAX
ITAT: IT services rendered in pursuance of royalty agreement, taxable in India; MFN clause benefit inapplicable
ITAT: FTS received by a Philippine based company not taxable in India
SC: Activities performed by the UAE based entity from a fixed place of business in India, not taxable in India
ITAT: Income earned through rendering ‘Technical Handling Services’ through pool participation, not taxable in India
TRANSFER PRICING
High Court upholds ITAT’s exclusion of functionally dissimilar comparables; also enlightens that application of filters to be inevitably validated from Annual Reports of comparables
ITAT held that re-characterising payment of maintenance services relating to software licenses as technical services unreasonable citing rule of consistency
REGULATORY
Company Law Updates
FEMA updates
Other important regulatory areas
GST
GST Clarifications and Updates
Customs Clarifications and Updates
Foreign Trade Policy Clarifications and Updates
COMPLIANCE CALENDAR
Direct Tax
GST
Regulatory
We trust that you will find it interesting and informative.
