Facility of furnishing LUT extended to all classes of exporters A notification has been issued by CBEC to allow furnishing of Letter of Undertaking (LUT) to all registered persons who intend to export goods or services without payment of IGST except those persons who have been prosecuted for any offence under any of the GST […]
The 22nd GST Council meeting was held on 6th October, 2017 at New Delhi. The meeting was focussed on the difficulties faced by the exporters and small and medium businesses under the GST regime. Keeping in mind the representations made by various industry representatives, export promotion councils and other stakeholders, several recommendations were made in […]
EU member states formally approve new rule for better resolution of tax disputes which will give taxpayers much more certainty when it comes to seeking resolution to their interpretation of tax treaties or double taxation problems; Today’s agreement among EU Finance Ministers at Luxembourg ensures that taxpayers faced with tax treaty disputes can initiate a procedure whereby the Member States […]
SIGNIFICANCE OF TERRITORIAL EXCLUSIVITY RIGHTS OF FRANCHISEES India has increasingly attracted global brands to establish their franchise arrangements in the country to benefit from the ever-expanding Indian market. Indian enterprises have also adopted franchise business models to expand in to the vast Indian territories. Typically, under a franchise model the franchisees benefit from […]
GST on legal services CBEC has clarified the applicability of reverse charge on legal services by issuing corrigendum to the reverse charge notifications[1]. Earlier, doubts were raised that reverse charge is applicable only on representational services by advocates. Further, the taxability of legal services provided by senior advocates was also ambiguous. These uncertainties also led […]
The foreign direct investment (“FDI”) policy of India has in the recent past witnessed a series of reforms introduced by the Government with the aim of increasing FDI inflows into India inter alia by liberalizing FDI in various sectors and streamlining the approvals processes. According to the Ministry of Commerce and Industry, FDI inflows hit […]
Extension of time period of furnishing GSTR-3B A notification has been issued by CBEC to notify the following due dates for filing return in form GSTR-3B which will continue to be filed for the months of August to December, 2017: S. No Month for which the return is to be filed Last date on which […]
Employees resigning and ceasing to report to work without due notice and employers facing issues due to lack of proper handover and replacements is a common concern of employer companies. In an earlier article1, we had assessed the issue of deduction of wages of employees of a corporate office in Delhi, upon their failure to […]
Further extension in time period of furnishing returns for July 2017 Owing to the difficulty faced by the taxpayers in furnishing the returns under GST, notifications have been issued by CBEC to further extend the time period for furnishing the following returns for the month of July 2017: S. No Return Class of taxpayers Date […]
No. Headings Details 1. Completion/Closing Date September 2017 2. Name of our Client Oravel Stays Private Limited (“Oyorooms.com“); Ritesh Agarwal (“Founder“) 3. Name of Investor Lightspeed Venture […]
INDUSLAW is delighted to announce that M. Arun Kumar has joined as a partner in Hyderabad office. Arun has over 11 years of experience in infrastructure and real estate including acquisitions, divestments and joint ventures in that space. He has significant experience in renewable energy and in core infrastructure and construction projects. He has been […]
Increase in rate of compensation cess for motor vehicles The GST (Compensation to States) Amendment Ordinance, 2017 dated 2nd September, 2017 has been promulgated to increase the rate of compensation cess on specified motor vehicles to 25%. This higher rate of cess will apply to motor vehicles designed to transport not more than thirteen persons […]