Corporate Updates – 28-02-2017


CBDT has provided clarifications for determination of Place of Effective Management (POEM) of a company, other than an Indian company. The existing provisions of clause (ii) of sub section (3) of section 6 of the income tax act 1961, shall come into effect from April 1, 2017 and shall be applicable for assessment year 201-18 and subsequent years. Further, it is clarified that existing provisions of above clauses are not applicable to a company having a turnover or gross receipts of 50 crores or less, in a financial year.


CBEC has launched a mobile application for Goods and Services Tax. The mobile application enables taxpayers to be well informed of the latest updates on GST. Taxpayers can readily access a host of GST information such as Migration to GST-Approach and guidelines for migration, Draft Law-Model GST Law, IGST Law and GST Compensation Law, Draft Rules-Rules related to Registration, Returns, Payment, Refund and Invoice and Frequently Asked Questions (FAQs) on GST etc. Taxpayers can also provide feedback and contact CBEC’s 24×7 helpdesk “CBEC Mitra” through a toll-free number or email, at the touch of a button. The mobile application can be downloaded free of cost on Android platforms. The iOS version will be made available shortly.

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