Home Highlights March 2019 Year 2019 This

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1. Business Auxiliary service - RCM (Right Concept Marketing) Business Marketing Plan is neither a new arrangement nor there is any concept of dividends - the service is taxable - AT

2. Rejection of expenses on obtention of Keyman Insurance Policy – It is not a ‘term Assurance Policy Plan” as per IRDA guidelines - expenses rightly disallowed - AT

3. Risk Management and Inter-bank Dealings: Revised guidelines relating to participation of a person resident in India and Foreign Portfolio Investor (FPI) in the Exchange...

4. Levy of Service Tax - when such services are provided for marketing of the product in the overseas market to meet the regulatory requirement, the same cannot fall under...

5. Business Support Service (BSS) – appellant constructed infrastructural facilities for marketing of agricultural produce and given to the farmers for marketing their...

6. SEBI introduced a beta version of the T+0 rolling settlement cycle on an optional basis alongside the existing T+1 settlement cycle in the equity cash market. The...

7. Business Auxiliary service - promotion/marketing of goods manufactured by the service recipient under a Multilevel Marketing Service Scheme - demand confirmed - AT

8. Provisions for bad and doubtful debt though statutorily required under the RBI guidelines do not qualify for deduction as business expenditure - AT

9. Approval of Resolution Plan - Corporate Debtor is MSME - CIRP process - there was compromise of confidentiality regarding liquidation value which appears to have been...

10. Business Auxiliary Services - brand promotion of ‘INTEL' and ‘MICROSOFT' - The activity of ‘promotion or marketing of logo or brand’ does not cover under the category of...