The Central Board of Direct Taxes (CBDT) has provided relief for genuine transactions through which shares were acquired without paying the securities transaction tax (STT). According to final regulations released on Tuesday, the board provided exemptions for employee stock options (ESOPs) and duly approved mergers and acquisitions (M&As). Rakesh Nangia, Managing Partner and Amit Agarwal, Partner share their views on aforementioned story for following publications:

• Hindu Business Line
• Indian Express
• Financial Express
• The Hindu
• The Telegraph
• Financial Chronicle- Front page story
• PTI

(Story flashed by PTI has been picked up by 48 other news publication like Business Standard, LiveMint, NDTV, Business Today etc.)  

Giving significant relief to car and consumer durables manufacturers, the Finance Ministry on Wednesday released the final rules for transition provisions under the Goods and Services Tax (GST), allowing them to carry forward input tax credit for 90 days, against the earlier provision of 60 days. Rajat Mohan, Director- Indirect taxation contributed quotes on aforementioned story for following puclications:

• Hindu Business Line- Front page story
• PTI

(This story has been picked up 167 other news publication like Business Standard, Economic Times, NDTV, First post, Business Today, Times of India etc.)  

The MLC will be marked on June 7, 2017 by more than 100 nations wherein the countries will notify the tax treaties that they intend to be covered by the MLC. The MLC will be relevant on correspondence premise implying that two nations need to advise each other for the MLC to be pertinent. The MLC seeks to swiftly implement the BEPS actions by way of superimposing the provisions of the MLC on the covered tax treaties. In other words, once a tax treaty is covered by the MLC, the treaty will stand automatically amended in line with the relevant provisions of the MLC. Rakesh Nangia, Managing Partner and Rahul Jain, Partner, Nangia and Co LLP contributed an article on “Addressing charge bargain manhandle” for Hindu business Line. In this article they discussed the General Anti Avoidance Rule (GAAR) and the looming marking of the Multilateral Convention which will incorporate Action 6 (Prevention of Treaty Abuse) of the BEPS venture and how the two would be applicable over one other.  In particular, the article examined whether even after the Multilateral Convention, India can in any case apply GAAR despite the fact that the counter manhandle arrangements have been consolidated in the Treaties as a result of the Multilateral Convention.    

Telecom companies have warned of a 2-3 per cent increase in phone bills in the goods and services tax (GST) regime even as the finance ministry has asked them to “re-jig prices and re-work costs” to pass on benefits to the consumers. Rakesh Nangia, Managing Partner shares his views aforementioned story for Business Standard.