Competition Commission of India (Determination of Turnover or Income) Regulations, 2024

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.... No. B-14011/2/2024-ATD-II --In exercise of the powers conferred by sub-section (1) and clause (fb) and (gd) of sub-section (2) of section 64 read with Explanation to clause (b) of section 27 and clause (c) of Explanation to section 48 of the Competition Act, 2002 (12 of 2003), the Competition Commission of India hereby makes the following regulations, namely: - 1. Short Title and Commencement ....

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....ons shall have the same meanings respectively as assigned to them in the Act or the rules or regulations framed thereunder or in the Companies Act, 2013 (18 of 2013). 3. Determination of turnover or income for enterprise for the purposes of Section 27 of the Act (1) Turnover or income, as the case may be, includes value of sales (or revenue or receipts, by whatever name called), and other opera....

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.... Indian Rupees, shall be converted into Indian Rupees based on, the average of the foreign currency reference rates as published by the Reserve Bank of India, for each of the relevant financial year as certified by a Chartered Accountant and supported by an affidavit by any person duly authorised by the enterprise in this regard. 4. Determination of income for individual for the purposes of Secti....