India: GST regime update; tax treaty with Germany - KPMG Global
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India: GST regime update; royalty under tax treaty with Germany

India: GST regime update; tax treaty with Germany

The KPMG member firm in India has prepared reports about the following tax developments (read more at the hyperlinks provided below).


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  • Amended framework for rupee-denominated bonds overseas: The Reserve Bank of India issued guidance amending rules relating to the issuance of rupee-denominated bonds overseas (Masala bonds). The guidance is intended to harmonize with the “external commercial borrowing” framework. Read a June 2017 report [PDF 291 KB]
  • Changes to GST rules—update: Concerning the goods and services tax (GST) regime, recent developments include: (1) GST rates for goods and services; (2) finalization of rules in respect of various procedures under GST including registration; (3) refund, payment of tax, invoice, debit and credit note; (4) input tax credit; (5) returns; (6) transitional provisions; and (7) release of various formats under the rules. Read a June 2017 report [PDF 287 KB] 
  • Payment for “standard operating procedure” taxable as royalty under India-Germany income tax treaty: The Ahmedabad Bench of the Income-tax Appellate Tribunal held that a payment with respect to a “standard operating procedure” is taxable as a royalty under the income tax treaty with Germany. The tribunal found that sharing of standard operating procedure was akin to the sharing of information concerning industrial, commercial, or scientific experience and comes within the scope of “royalty” under the tax treaty. The case is: Oncology Services India Pvt. Ltd. Read a June 2017 report [PDF 315 KB] 
  • Exemption from long-term capital gain tax, equity shares: The Central Board of Direct Taxes (CBDT) has released final rules for exemption of acquisitions of equity shares from long-term capital gain tax under section 10(38) of the Income-tax Act, 1961. The final notification has provided relief to certain additional transactions. Read a June 2017 report [PDF 303 KB]

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