The first meeting of AMCHAM’s Taxation, Tariff & Regulatory Affairs Committee for 2023-24 was held virtually on June 2^nd. The meeting was chaired by Ms. Garima Pande, Chairperson – Taxation, Tariff & Regulatory Affairs Committee, AMCHAM and Partner & National Leader Global Compliance & Reporting, E&Y India and Mr. Amit Rana, Co-Chairman – Taxation, Tariff & Regulatory Affairs Committee, AMCHAM and Partner Tax, PwC India. Wg Cdr Rajiv Anand, Senior Director, AMCHAM and a large number of member representatives participated in the meeting. Amongst various issues, the committee discussed matters like ambiguity on the scope of various categories of payments within purview of section 194R, issues continuing to exist despite of CBDT having issued the guidelines on cases where tax authorities can grant stay of demand to the tax payers, consideration of a representation to be made to GoI for issuance of guidance/clarification to tax authorities regarding non-imposition of penalty on cases where there is an immunity from penalty proceedings, lack of clarity on the applicability of tax collected at source (TCS) on corporate credit cards, need for clarification to be sought on the principles to be adopted on implementation of provisions regarding the issue of deemed supply for support function, proposed amendment by GoI to the Manufacturing & Other Operations in Warehouse Rules (MOOWR) to notify a class of importers/list of goods/sectors who would not get the deferment benefit on the IGST component of the customs duty payable on imports and need for representation on the issue, etc. It was decided that representations to the GoI would be made on matters that required attention. It was also highlighted that the committee would circulate monthly taxation/policy updates to members and seek suggestions on discussion topics on which members may want to gain further understanding or require further engagement with the government.