NEWSLETTER

2022 Year in Review. Impact of tax policy on complex cross-border transactions. Advocacy for smoother tradefacilitation measures. Overhaul of Indian SEZ regime

US-India Tax Forum organised an industry consultation with Mr sanjay Mangal, Pr. Commisissioner, GST Policy Wing of Central Board of Indirect Taxes & Customs to Discuss recommendations for effective resolution to the request for state-wise data by GST authorities at the time of GST audits.

US-India Tax Forum submitted its Pre-Budget Memorandum(s) to the Tax Planning Legislation Unit
(for Direct Taxes) and Tax Research Unit (for Indirect Taxes – Customs) of the Ministry of Finance based on inputs received from more than 30 member companies across various sectors.

USISPF along with key members participated in an intensive in person consultation with the office of the Pr. Commissioner, Directorate of International Customs to discuss long-standing challenges…

USISPF in collaboration with knowledge partners KPMG organized a virtual briefing to discuss the Additional Guidelines issued by CBDT on implementation of TDS under Section 194R of Income Tax Act.

The US-India Tax Forum organised a virtual consultation with Mr. Sanjay
Mangal, Commissioner, GST Policy Wing, Central Board of Indirect Taxes & Customs on September 13, 2022 to deliberate on a broad range of GST policy issues across various sectors

The US-India Tax Forum participated
in the 15th Meeting of All India Customs
Consultative Group
held virtually on August 26, 2022

The briefing focused on the significant tax changes emanating from this law and its impact on
the industry at large. The session was led by Tax Partners at KPMG in the U.S, with Rishi Chugh moderating, and speakers Stephen P Borman and Hannah Hawkins.

The US-India Tax Forum hosted a virtual interaction on July 28,2022 with Mr. Kamlesh Varshney, Joint Secretory (Tax Planning and Legislation Unit), Central Board od Direct Taxes to discuss industry challenges in implementation of TDS underSection 194Rofthe Income Tax Act.

The US-India Tax Forum hosted Mr. Vivek Johri, Chairman, CBIC, and Mr. D.P. Nagendra Kumar, Member, CBIC (GST& Tax Policy) on July 20, 2022 for an inperson interactive session with USISPF members.

Pursuant to the recommendations and decisions taken in the 47th GST Council meeting, the CBIC has given effect to the same via issue of necessary circulars…

The Government levied additional duties on exports of petroleum crude, petrol, diesel and aviation turbine fuel to tax the windfall gains earned by petroleum