SC stays Delhi HC order on transitional GST credit on Centre’s SLP


The has stayed the Delhi high court order that had allowed availing tax credits for pre-GST period up to June 30 this year.

The apex court was hearing a special leave petition filed by the Union Government against the Delhi High Court judgement.

The case relates to the rule 117 of the CGST Act, which imposed the time limit of 90 days for claiming transitional Cenvat credit from the date of GST roll out from July 1, 2017.

However, the high court had held that the time limit prescribed by the rule is directional and not mandatory.

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The high court had also held that the period of three years would be available for claiming these credits in line with the provisions of the Limitation Act.

The union government in its petition said that the time limit — 90 days — prescribed for availing transitional credit is mandatory, rational and reasonable. It also pointed out that the Limitation Act cannot override the limitations prescribed in a special

Wipro’s new CEO Thierry Delaporte to draw up to 4.45 mn euros in annual pay


Wipro’s incoming CEO Thierry Delaporte will receive an annual pay package of up to 4.45 million euros (about Rs 37.9 crore) as well as stock compensation and other benefits, according to regulatory documents.

In a notice for its 74th annual general meeting (AGM), said it will seek shareholders’ nod for appointment of Delaporte as the CEO and managing director. The AGM will be held on July 13 through video-conferencing.

Delaporte, who takes over the role from Abidali Neemuchwala, will hold office for five years with effect from July 6, 2020, to July 5, 2025.

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His remuneration will include basic pay in the range of 1.07-1.4 million euros per annum and a target variable pay in the range of 1.7-2.5 million euros per annum, the notice said.

Delaporte, 53, will also receive an expatriate allowance in the range of 428,000-550,000 euros “for assignments outside France and India (principal country of employer) at the per diem rate for each day of travel outside France and India that is determined by the company and based on the actual days

Warning Europe, Pompeo Hits China Hard Despite Talks


US Secretary of State Mike Pompeo on Friday warned Europeans they would abandon their values by embracing China, in a scathing denunciation of Beijing just two days after talks on trans-Pacific tensions.

In his first remarks since his closed-door talks with a senior Chinese official in Hawaii, Pompeo indicated that his views have not softened as he denounced Beijing as a “rogue actor” bent on global domination.

There is “no way to straddle these alternatives without abandoning who we are. Democracies dependent on authoritarians are not worthy of the name,” Pompeo told a forum in Denmark by videoconference.

He said he similarly had a “very frank” message over his six hours of talks Wednesday with senior Chinese official Yang Jiechi.

Pompeo said he told Yang the United States was closely watching China’s actions — including its recent deadly border clash with US friend India.

“America is engaging in a response to Chinese Communist Party aggression in a way that America has not done for the past 20 years,” Pompeo told the Copenhagen Democracy Summit, referring to President Donald Trump’s administration.

Pompeo renewed calls on Europeans to shun Chinese telecom giant Huawei, which he called the arm of the communist “surveillance

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