Tax & Regulatory Newsletter – May, 2020 Edition

Greetings!

We are pleased to attach herewith the Tax & Regulatory Newsletter – May, 2020 edition highlighting major recent tax and regulatory developments.

Inside this issue…

DIRECT TAX

Subscription Charges paid to US based entity- Not taxable in India
Consultancy services rendered by Indonesian law firm taxable as FTS in India- Section 9(1)(vii)(b) exclusionary provision not applicable
Distribution revenue accruing to US based company from Indian distributor – Not taxable in India in the absence of PE

TRANSFER PRICING

ITAT rejects Nil-ALP determination of intra-group services and thereby deletes TP adjustment
ITAT held that TPO erred in determining the ALP of SDT transaction as NIL, since TPO has no authority to judge the commercial expediency

REGULATORY

Rulings under Companies Act 2013
Rulings under Foreign Exchange Management Act 1999
Other important regulatory areas

GST

Clarification on GST Refund related issues
Other GST updates

COMPLIANCE CALENDAR

Direct Tax
GST
Regulatory

We trust that you will find it interesting and informative.

Tax & Regulatory Newsletter – May, 2020 edition