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1. CBDT, on 24th January, 2017, has issued a Circular of Guiding Principle for determination of Place of Effective Management (POEM) of a Company. it will be effective from 01.04.2017 and apply from AY 2017-18 onwards.
2. In a major relief to foreign investors, the government today clarified that income arising from transfer of unlisted shares by certain categories of alternative investment funds will not be liable for taxation.
3. CBDT issued Corrigendum to Circular No. 1/2017 dated 02.01.2017 on TDS under section 192 of Income-tax Act, 1961.
4. Temporary use of business assets/services for private or non-business use is NOT Deemed Supply in Revised GST Model Law.
5. CESTAT Kolkata held that CENVAT Credit on canteen services and housekeeping/ cleaning services availed in office building are admissible to Assessee when same was situated within licensed factory premises of assessee. [M/S. Tata Steel Ltd. vs. CCES Jamshedpur].
2. In a major relief to foreign investors, the government today clarified that income arising from transfer of unlisted shares by certain categories of alternative investment funds will not be liable for taxation.
3. CBDT issued Corrigendum to Circular No. 1/2017 dated 02.01.2017 on TDS under section 192 of Income-tax Act, 1961.
4. Temporary use of business assets/services for private or non-business use is NOT Deemed Supply in Revised GST Model Law.
5. CESTAT Kolkata held that CENVAT Credit on canteen services and housekeeping/ cleaning services availed in office building are admissible to Assessee when same was situated within licensed factory premises of assessee. [M/S. Tata Steel Ltd. vs. CCES Jamshedpur].