Tax & Regulatory Newsletter – January, 2019 Edition
We are pleased to attach herewith the Tax & Regulatory Newsletter – January, 2019 edition highlighting major recent tax and regulatory developments.
Inside this issue…
ITAT Pune- Management Service fee charged from AE – not FTS, receipts for provision of IT support services – not Royalty, allocation of cost for the creation of database –pure reimbursement of expenses.
ITAT denies benefit of Article 8 of the India-Mauritius Treaty as PoEM is situated in a third jurisdiction.
ITAT: Deletes TP-adjustment on HSBC-India’s reciprocal services/ support services; Disapproves separate benchmarking of incidental services
Benefit of tax holiday on suo moto TP adjustment by taxpayer offered in modified return pursuant to APA cannot be denied
Amendment to foreign exchange management (Non-debt instruments) rules, 2019
Restriction on input tax credit (’ITC’)
Annual return and reconciliation statement due date extended
Introduction of E-Invoicing
We trust that you will find it interesting and informative.