News Update

Indigenous Technology Cruise Missile successfully flight-tested by DRDO off the Odisha coastUS imposes fresh sanctions against Iranian drone productionIREDA's GIFT City office to boost Green Hydrogen and Renewable Energy Manufacturing ProjectsVoting for General Elections 2024 commences tomorrowGlobal warming up to 3 degrees to cost 10% of global GDP: StudyNexus between Election Manifesto and Budget 2024 in July!Clearing the Air: Airtel's SC Decision provides clarity on test of AgencyGST implications for Corporate Debtor under IBCI-T- Petitioner's CIBIL score lowered due to same PAN being issued to another assessee who defaulted on loan; I-T Deptt to inform CIBIL of remedial measures taken: HCBrazil’s proposal to tax super-rich globally finds many takers in G20 GroupI-T- Additions framed on account of unconfirmed cash loans upheld in part, where assessee is unable to discharge onus of proving source of cash deposits : ITATCPM manifesto promising annihilation of all weapons of mass destructions including nuclear, draws flak from Defence MinisterI-T- Registration of trust u/s 12A denied due to inadvertent error by assessee in filing Form 10AB but with wrong selection code; case remanded for reconsideration: ITATBiden favours higher steel tariff on ‘cheating’ China + may up tariff on dominant solar tech suppliersI-T- Enhancement of income is not sustainable if CIT (A) not follow sec 251 and no notice given to assessee of enhancement : ITATUS Poll: Biden trumps Trump in money race by USD 75 mnI-T- Assessee is entitled for depreciation on goodwill arising out of difference between cost of acquisition and net value of assets and liabilities as per book value of CAPL : ITATNetanyahu says Israel to decide how and when to respond to Iran’s aggressionI-T- There is no scope of extrapolation in search assessment based solely on assumptions and surmises in absence of any tangible material qua the relevant assessment year: ITATGoogle slays costs by laying off staffers & shifting roles outside USI-T- Re-assessment cannot be sustained where based on borrowed satisfaction & where conducted in a mechanical manner: ITATHeavy downpours drown Dubai; Airport issues travel advisoryCus - There cannot be an exercise of jurisdiction to injunct invocation of BG, as it is a settled principle of law that bank guarantee constitutes an independent contract between the bank and the party in whose favour BG is furnished: HCHM pledges to make India completely Maoist-freeGST - Except for holding that the taxpayer had availed ITC which is blocked credit u/s 17(5), no reasons are specified - Order set aside and matter remanded: HCMicrosoft to inject USD 1.5 bn in AI Group G42 of UAEGST - Injustice would be caused unless petitioner is provided another opportunity to contest tax demand on merits - Subject to deposit of 10% of demand, matter is remanded: HCCanadian budget proposes more taxes on higher income groups & tax credits for EVsWorld leaders appeal for quick ratification of UN Ocean Treaty
 
SEZ rules amended to liberalize Work From Home

By TIOL News Service

NEW DELHI, DEC 09, 2022: DEPARTMENT of Commerce had further amended SEZ rules to liberalize Work From Home for SEZ units. DoC has amended the Special Economic Zones (SEZ) rules to insert a new rule 43A vide notification dated 14.07.2022 to enable Work From Home (WFH) for SEZ units. Further, DoC had also issued a Standard operating Procedure (SOP) vide Instruction dated 12.08.2022 to streamline the implementation of amended rule across all SEZs.

After notification of Rule 43A and issue of Instruction dated 12.08.2022, DoC received further representations from NASSCOM as well as units seeking further flexibility in WFH facility. The matter was examined in DoC in consultation with stakeholders and accordingly, Rule 43A has been substituted with new rule vide notification no. GSR 868(E) dated 08.12.2022. The salient features of the notification are as under:

WFH regime is significantly liberalised based on consultation with all stakeholders.

Erstwhile regime based on permissions has been converted into an intimation-based regime.

WFH can be provided to upto 100% of all employees of the SEZ unit.

WFH permitted upto 31.12.2023.

For units already availing WFH under earlier regime, intimation could be sent by email till 31.01.2023.

Units seeking WFH in future can email an intimation on or before the date of commencement of WFH.

Hybrid mode of working has become a norm, especially in the IT/ITES sector in the wake of disruptions caused by the pandemic. The representatives of the IT/ITES industry had represented to the (DoC) to enable the units in Special Economic Zones (SEZs) to adopt hybrid mode of working and for providing Work From Home (WFH) facility to the employees SEZ units. The decision has been made after duly noting the genuine needs of the industry and also noting the scope of benefits to economies of Tier-2 and Tier-3 cities that such a facility could entail.


POST YOUR COMMENTS
   

TIOL Tube Latest

Shri N K Singh, recipient of TIOL FISCAL HERITAGE AWARD 2023, delivering his acceptance speech at Fiscal Awards event held on April 6, 2024 at Taj Mahal Hotel, New Delhi.




Shri Ram Nath Kovind, Hon'ble 14th President of India, addressing the gathering at TIOL Special Awards event.