India & USA Transitional Approach on Equalisation Levy 2020

Others

September 2024

1. Focused advocacy for simplification and amendments to Special Economic Zone (SEZ) Rules, 2006 around:

● Issues in the smooth implementation of ICEGATE portal in SEZ
● Challenges in disposal of IT and non-IT assets, scrap removal, and asset transfers
● Uncertainties around duty exemptions for solar/wind power plants and leasing transactions
● Complex export procedures for Software Technology Parks of India units
● Delays in SEZ invoice endorsement impacting cash flow
● Re-evaluation of Domestic Tariff Area (DTA) pocket policy
● Exemption of duty and benefits to solar/wind power plants set up in SEZ
● Digitalization of platforms and standardization of processes and reporting
● Ongoing issues with Global Capability Centres (GCCs) operating in SEZs
2. Representation to address industry wide issues in implementing QCOs around:

● Toys (Quality Control) Order, 2020
● Electronics and IT Goods (Requirement for Compulsory Registration) Order, 2021
● Air Conditioner and its related Parts, Hermetic Compressor and Temperature Sensing Controls (Quality Control) Order, 2019
● Footwear Made from Leather and Other Materials (Quality Control) Order, 2024
● Bolts, Nuts and Fasteners (Quality Control) Order, 2023

August 2024

1. The amendments proposed to the Finance Bill 2024. Click here to read the bill

2. Representation to address industry wide issues in implementing QCOs around:

● Toys (Quality Control) Order, 2020
● Electronics and IT Goods (Requirement for Compulsory Registration) Order, 2021
● Air Conditioner and its related Parts, Hermetic Compressor and Temperature Sensing Controls (Quality Control) Order, 2019
● Footwear Made from Leather and Other Materials (Quality Control) Order, 2024
● Bolts, Nuts and Fasteners (Quality Control) Order, 2023
3. Focused advocacy for simplification and amendments to SEZ Rules, 2006 around:

● Issues in the smooth implementation of ICEGATE portal in SEZ Challenges in disposal of IT and non-IT assets, scrap removal, and asset transfers
● Uncertainties around duty exemptions for solar/wind power plants and leasing transactions
● Complex export procedures for Software Technology Parks of India units
● Delays in SEZ invoice endorsement impacting cash flow
● Re-evaluation of Domestic Tariff Area (DTA) pocket policy
● Exemption of duty and benefits to solar/wind power plants set up in SEZ
● Digitalization of platforms and standardization of processes and reporting

July 2024

1. Ministry of Finance extends validity of India & USA Transitional Approach on Equalisation Levy 2020 until June 30, 2024. Please access the press release here

Please access the press release here

2. Report on Ease of Doing Business in the Telecom Sector.

3. Whitepaper on multilateral framework for international tax cooperation.

4. Launch report on trade facilitation measures for Authorised Economic Operators.

For further details please reach us here