The Competition Commission of India, (CCI) on December 22, 2023, issued a notification seeking comments on the draft of the Competition Commission of India (Determination of Turnover or Income) Regulations, 2023.
The Competition (Amendment) Act, 2023, inter alia, amended Section 27, 48 and Section 64 of the Act, consequent to which the CCI is required to frame regulations regarding the manner of determining turnover or income under the Explanation to clause (b) of section 27 and the manner of determining income under clause (c) of Explanation to section 48.
The CCI proposes the draft CCI (Determination of Turnover or Income) Regulations, 2023 which provide for the determination of turnover or income for Section 27(b) and Section 48 of the Act.
The CCI invites stakeholders to submit written comments on the draft CCI (Determination of Turnover or Income) Regulations, 2023 from December 22, 2023, to January 12, 2024.
