CBDT notifies jurisdictions of investment entities that would not be treated as passive non-financial entities for SFT reporting.
Notification F.No. 500/05/2018 – FT&TR – III, dated 6-4-2023.
PE – Where assessee, a China based company, engaged in sales of telecom equipments, supplied equipment and handsets to its Indian subsidiary, since assessee was conducting its business in India with active involvement of employees of its Indian subsidiary and employees of Indian subsidiary along with employees of assessee had jointly prepared bidding documents for contract, negotiated and concluded contract on behalf of assessee with its Indian customer, said Indian subsidiary constituted fixed place PE, installation PE, service PE and dependent agent PE of the assessee.
Huawei Technologies Co. Ltd. v. ACIT – [2023] 149 taxmann.com 77 (Delhi – Trib.).
Government increases interest rates for various small saving schemes for first quarter of FY 2023-24.
Notification F.No. 1/4/2019 – NS dated 31-3-2023.
ICAI issues Technical Guide on Disclosure and Reporting of Key Performance Indicators (KPI) in Offer Documents.
RBI keeps repo rate unchanged at 6.5%.
Press Release No. 2023-24/21 & 22, dated 6-4-2023.
MCA notifies the Companies (Indian Accounting Standards) Amendment Rules, 2023. These rules shall be applicable from the financial year beginning on or after 1-4-2023.
ICAI issues the Implementation Guide on Reporting under Rule 11(g) of the Companies (Audit and Auditors) Rule, 2014.
No charges on bank-to-bank account based UPI transactions for customers: NPCI.
Corporate guarantee given for subsidiary company without consideration is not liable to service tax under Banking & Other Financial Services.
Commissioner of CGST and Central Excise v. Edelweiss Financial Services Ltd. – [2023] 149 taxmann.com 76 (SC).
GST – Proper Officer not allowed to direct customers of assessee to stop further payments to assessee.
Sri Sai Balaji Associates v. State of Andhra Pradesh – [2023] 149 taxmann.com 66 (Andhra Pradesh).