New Clarification on ITC Entitlement for Insurance Companies on Motor Vehicle Repair Expenses in Rajasthan
On July 9, 2024, the Government of Rajasthan clarified ITC rules for insurance companies:
ITC Claim: Allowed on repair invoices reimbursed by insurers.
Non-Network Garages:
Separate Invoices: ITC for the approved claim amount only.
Consolidated Invoices: ITC limited to the reimbursed amount.
Invoice Name: ITC not available if the invoice isn’t issued in the insurance company’s name.
Govt. of Rajasthan issues Clarity on Taxability of Loans Between Overseas Affiliates and Indian Affiliates
On July 9, 2024, the Government of Rajasthan clarified that providing loans by an overseas affiliate to an Indian affiliate, or by a person to a related person, is not considered a taxable supply under GST if the only consideration is interest or discount. Services related to granting loans or credit are fully exempt from GST when no additional fees or charges are involved.
New DERC(Supply Code and Performance Standards) (Fifth Amendment) Regulations 2024
On July 16, 2024, the Delhi Electricity Regulatory Commission amended the Supply Code and Performance Standards Regulations:
Regulation 2(7): Defines “APPLICATION” as a complete submission by 1500 hrs.
Regulation 2(42a): Defines “METROPOLITAN” as areas with 1 million+ people, specified by the Lt. Governor.
Regulation 2(51): Defines “Urban Areas” as all areas except rural and Metropolitan.
Regulation 11(4)(i): Sets maximum time periods for providing or modifying connections in electrified areas.
NHAI’s New Rules: Double Toll Fees for Vehicles Without FASTag
On July 18, 2024, the National Highways Authority of India (NHAI) issued guidelines to collect double user fees from highway users who do not affix FASTag on their vehicle’s windscreen. This measure aims to reduce delays at toll plazas and enhance convenience for all users.
DoT Issues Latest Right of Way (RoW) Rules 2024
On July 9, 2024, the Department of Telecommunications (DoT) released the Draft Right of Way (RoW) Rules 2024 under the Telecommunications Act 2023. Key points include:
Application Process: Facility providers must apply via a web or mobile portal to be notified by the Central Government.
Supporting Documents: Applications must include necessary documents and a fee, not exceeding the amount specified in the Schedule.
DoT Issues New Draft Telecommunications (Adjudication and Appeal) Rules, 2024
On July 18, 2024, the Department of Telecommunications (DoT) introduced the Draft Telecommunications (Adjudication and Appeal) Rules, 2024, under the Telecommunications Act 2023. Key points include:
Adjudication and Appeals: The rules detail procedures for adjudicating officers (AOs) and appeals committees (DACs) to handle breaches of telecom licenses, radio frequency assignments, and other violations.
Enforcement: AOs, not below the rank of joint secretary, will conduct inquiries and issue orders for breaches such as unauthorized SIM usage, unlicensed radio equipment, or spam.
Government of Uttar Pradesh Issues New Minimum rates of Wages
The Government of Uttar Pradesh notified the minimum rates of wages payable to the employees employed in agricultural employment in the state of Uttar Pradesh on July 9th 2024. The Minimum Rates of Wages have been revised to Rs. 6162/- per month or Rs. 237/- per day for the following types of agricultural works, for the whole of Uttar Pradesh:
Rajasthan’s Latest Tax Clarification: Good News for Telecom Companies
On July 9, 2024, the Department of Commercial Tax in Rajasthan clarified that telecom companies can claim Input Tax Credit (ITC) on materials like ducts and manholes used in their optical fiber cable (OFC) networks.
New Notification on Input Tax Credit Reversal for Discounts
On July 9, 2024, the Department of Commercial Tax, Rajasthan, issued a notification detailing how to handle discounts given after a supply and associated ITC reversals. The update provides a mechanism for verifying compliance with the proportional reversal of ITC by recipients for discounts given through tax credit notes issued after the supply.
The New Draft Haryana IT & ITeS Policy, 2024
On July 16, 2024, the Department of Industries & Commerce, Haryana, released the Draft Haryana IT & ITeS Policy, 2024. Key objectives include:
Doubling IT Service Exports and Turnover: Aims to enhance economic growth and global competitiveness.
Job Creation: Targets the creation of 300,000 jobs in the IT/ITeS sector.
Promotion of R&D: Plans to establish Centers of Excellence to drive innovation.
Holistic Development: Seeks balanced growth across the IT/ITeS sector statewide.
