Tax & Regulatory Newsletter – August, 2019 Edition

Greetings!

We are pleased to attach herewith the Tax & Regulatory Newsletter – August, 2019 Edition highlighting major recent tax and regulatory developments.

Inside this issue…

DIRECT TAX                                                                                                                                                      

• Amounts paid to France entity towards reimbursement of salary cost and consideration for technical and managerial services, not Royalty or FTS
• Income earned through rendition of cloud hosting services not taxable as ‘royalty’ in India
• ITAT: Equity Oriented MF units, not ‘shares’; STCG not taxable under India-UAE Treaty

TRANSFER PRICING

• High court upholds the ITAT decision asserting share application money cannot be treated as loan despite delay in allotment of shares
• Assessment Order issued on a non-existent entity (Pursuant to amalgamation) is void ab initio and such defect is not curable

REGULATORY

• Changes in Company Law
• Changes in FEMA

GST

• Key Highlights of 36th GST Council Meeting
• Applicability of Kerala Flood Cess w.e.f. 1 August 2019

COMPLIANCE CALENDAR

• Direct Tax
• GST

We trust that you will find it interesting and informative.

Tax & Regulatory Newsletter, August 2019