By Hitesh Arora

GST being the largest indirect tax reform in Indian tax history is on the verge of implementation. Every business, small or big, will get impacted by GST. Amidst other changes in Indian economy, like demonetization, application of IND AS, changing business environment etc. GST implementation is likely to be the biggest change and ...

By Sumeet Khurana

Computation of income of non-resident shipping entities posed many challenges and to ease the same Section 44B was enacted vide Finance Act, 1975 w.e.f. 1 April 1976. It provided that income of a non-resident assessee engaged in the business of operation of ships, 7.5% of the gross freight will be deemed to be profits a...

By Greetika Francis

The WTO Appellate Body (AB) has recently delivered the final word on construction of normal value. In European Union - Anti-Dumping Measures on Biodiesel from Argentina (DS 473) [see end note 1], the Appellate Body rendered its decision in the matter in October, 2016 and the key issue in the dispute was with respect t...

By Sonal Singh

One of the many disputes that have continued to exist in the present regime of taxation of sale of goods are the disputes pertaining to determination of the nature of transaction as inter-State sale subject to Central Sales Tax or local sale subject to VAT. Such disputes especially arise when assessee in a State sells goods to a bu...

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 ...

By Sriram.S

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 1^st 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

Introduction

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