The Competition Commission of India (CCI) seeks comments on the draft of 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 the purposes of 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 22.12.2023 to 12.01.2024. The comments must be sent only by duly filling the form available on the website of the CCI:

https://www.cci.gov.in/stakeholders-topics-consultations

Determination of turnover or income: draft regulations invite stakeholder comments on calculation methodology under the amended law. The Competition Commission of India published a draft regulation to prescribe the methodology for the determination of turnover or income required by the Explanation to clause (b) of section 27 and the Explanation to section 48 of the Act following the Competition (Amendment) Act, 2023, and has invited written stakeholder comments via a prescribed form on its website during the consultation period.