By Gagan Gugnani
The Revised Model GST Law (hence forth "RMGL") was made available in public domain in November, 2016. The commitment of the government is to roll out a simplified and easier indirect tax regime, yet the provisions reveal a different picture. The whole concept of availment of input tax credit (ITC) is set to change from ...
Globalization has brought along with it various taxation issues, the most talked about being, transfer price of goods being traded amongst enterprises forming part of a same business group (‘related entities’). The price at which related entities transact is of significance to both taxpayers as well as revenue authorities....
By Amutha Balasubramanian
The new Goods and Services Tax (GST) is a comprehensive indirect tax on manufacture, sale and consumption of goods and services across India. GST is a destination-based, value added taxation system. GST will be a dual levy in India and the eligible transactions will be subject to levy of both CGST and SGST in the case of...
By Geetika Srivastava
The date of implementation of Goods & Services Tax (GST) is now certain and from 1st April, 2017, India will enter the new indirect tax regime bringing great deal of uniformity and robustness which will impact every business and industry. This leaves the industry with just a few months to prepare for the trans...
By Bharathi Krishnaprasad
Comparison between Stock Appreciation Rights and Employee Stock Option Plans
Conceptually different from the Employee Stock Option Plan a.k.a ESOP, a household term in India, Stock Appreciation Rights, also known as SARs are a novel way of rewarding the employees of an or...
By Dr. G. Gokul Kishore
India is on the expressway in implementing the biggest reform ever in its indirect tax system. Till July, possibility of implementation of Goods & Services Tax (GST) was perceived as riddled with uncertainty but the Indian political parties have come together and ensured that the Indian Constitution stands amended to p...
By Sumeet Khurana
A person resident of India under the Income-tax Act, 1961 (‘the IT Act’) is liable to tax in India on his global income [see end note 1]. The resident, when transacting with its Associated Enterprise (AE) is obliged to offer to tax, the income arising
Dated: Sep 27, 2016
By Iype Mathew
India is now poised to introduce its biggest indirect taxes reform by launching the Goods and Services Tax regime. GST when introduced will usher in a nationwide common market which is expected to be less intrusive, compliance friendly, and self-policing in nature. The passage o...
By Lakshmi Pavan
Recently, the Central Board of Direct Tax (‘CBDT’) has issued a notification [see end note 1] notifying Rules [see end note 2] for granting of Foreign Tax Credit (‘FTC’) to resident taxpayers on income earned in foreign jurisdiction (hereinafter referred as ‘foreign income’). Before, notifying ...
By Dr. G. Gokul Kishore
At the time when this article is being written, the air is thick with optimism and hope that Constitutional Amendment Bill on Goods & Services Tax (GST) will be passed by the Rajya Sabha in this monsoon session itself. It appears that the government is inclined to accept certain amendments and therefore, if it is passe...
By Iype Mathew
India is now poised to launch the next generation reform on the indirect tax front. Fiscal policy experts and economists have confirmed that a comprehensive and broad based consumption tax on supply of goods and services, collected at each stage of value added within the supply chain, is the best method for levying and collecting indirect ...
By Gayatri Sridharan
A brief critique of the judgement of Kolkata bench of the Income Tax Appellate Tribunal in the case of Tapas Kumar Bandopadhay vs DDIT 70 taxmann.com50(Kolkat-Trib)
The new era of the global citizen or the peripatetic Indian brings with it its unique problems at the level of taxation. The Income Tax Act,...
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