On September 8^th, AMCHAM’s Tax, Tariff & Regulatory Affairs Committee met virtually. Wg Cdr Rajiv Anand, Senior Director, welcomed participants. Mr. Abhishek Jain, Chairman – Tax, Tariff and Regulatory Affairs Committee, AMCHAM and National Head & Partner, Indirect Taxes, KPMG set the scene with opening remarks. Mr. Rohinton Sidhwa, Co-Chairman – Tax, Tariff and Regulatory Affairs Committee, AMCHAM and Partner, Taxation, Deloitte Touche Tohamtsu India LLP, made his remarks. Two presentations were made at the meeting. The first presentation was an overview of the GST Council meeting of September 3^rd and 4^th and key decisions made therein, the recommended GST rate changes and sector implications, benefits and challenges as well as key legislative clarifications approved and the impact of these clarifications. The second presentation discussed “The Hyatt Ruling” that recalibrates the interpretation of permanent establishment in India and firmly backs substance-over-form and broadens taxing rights for operations that may lack a traditional physical footprint. The presentation highlighted that MNCs using service-based or asset-light models must now scrutinize cross-border agreements and control structures to manage tax exposures effectively. Both presentations garnered much interest and members sought clarifications. AMCHAM requested members to share recommendations for Budget 2026-27 to be submitted to the Ministry of Finance.