Government Notifies Rules for Registered Valuers

Individuals, partnership entities as well as companies can act as valuers under the Companies Act after getting registered with an authority specified by the government, says a notification. The corporate affairs ministry has proposed to specify the Insolvency and Bankruptcy Board of India (IBBI) as the authority with respect to registration, recognition and ancillary matters … Continue reading Government Notifies Rules for Registered Valuers

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Mauritius Signs Multilateral BEPS Convention To Tackle Tax Avoidance By MNE’s

Based on expressed reservations at this point in time, 23 tax treaties would be impacted by this signing. We note that Mauritius issued a statement today, reaffirming its commitment to implement the minimum standards developed in the course of the OECD/G20 BEPS Project into its entire tax treaty network by the end of 2018. Mauritius … Continue reading Mauritius Signs Multilateral BEPS Convention To Tackle Tax Avoidance By MNE’s

Budget session: PM Modi Hopes For Breakthrough On GST

As the Budget session of Parliament resumed today, Prime Minister Narendra Modi hoped there will be a breakthrough on the Goods and Services Tax (GST) bill and that issues will be discussed in a democratic manner. “We hope that there will be a breakthrough on the GST because all states have positively cooperated. All political … Continue reading Budget session: PM Modi Hopes For Breakthrough On GST

CBDT Signs Bilateral APA With Japanese Firm

The Central Board of Direct Taxes has signed a bilateral Advance Pricing Agreement (APA) with the subsidiary of a Japanese company as it looks to reduce litigations by providing certainty in transfer pricing. The total number of bilateral APAs signed with various Japanese subsidiaries has thus reached five, all with rollback provisions, a Finance Ministry statement said. Four APAs … Continue reading CBDT Signs Bilateral APA With Japanese Firm

Tax Free Limit For Qraturity Hiked To Rs. 2 million.

Formal sector workers may soon be eligible for up to Rs 2 million tax-free gratuity as central trade unions have agreed on the proposal in a tripartite consultation with the Labour Ministry. The central trade unions have agreed on doubling gratuity amount ceiling as an interim measure in a tripartite meeting on the proposed amendment to … Continue reading Tax Free Limit For Qraturity Hiked To Rs. 2 million.

Post-FIPB, RBI To Frame Procedure For FDI Approval

The Reserve Bank is expected to formulate standard operating procedure (SOP) for approval of FDI proposals by ministries following the government decision to phase out FIPB. The proposal for setting up norms for foreign direct investment (FDI) approvals in sensitive sectors, which are currently under government approval of the FDI policy, was discussed at a … Continue reading Post-FIPB, RBI To Frame Procedure For FDI Approval

GST Final Draft To Retain Clause On Services Sector ?

The goods and services tax (GST) council is likely to retain a clause in the law that will require service providers to register in every state where they operate, despite recent representations from various Union ministries and telcos, banks, and insurance firms for a single registration system in chartered accountants firm. At present, service providers … Continue reading GST Final Draft To Retain Clause On Services Sector ?